Johnson & Johnson Reports Q2 2021 Results

·13 min read

- Strong sales growth of 27.1% to $23.3 Billion in Second Quarter 2021 with operational growth of 23.0%* and adjusted operational growth of 23.8%*

- EPS of $2.35 increased 72.8% in Second Quarter 2021 and adjusted EPS of $2.48 increased 48.5%*

- Company increasing 2021 Full-Year guidance for sales and EPS

NEW BRUNSWICK, N.J., July 21, 2021 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced results for second-quarter. "Our second-quarter results showcase Johnson & Johnson's diversified portfolio, driven by strong sales and earnings growth across our Medical Device, Consumer Health and Pharmaceutical businesses," said Alex Gorsky, Chairman and Chief Executive Officer. "I'm so proud of our 136,000 colleagues who remain focused on delivering our medicines and products to patients and consumers around the world, in addition to advancing our pipeline with new product launches and regulatory submissions. These accomplishments exemplify our commitment to advancing transformational innovations that improve the health of people and communities everywhere while continuing to deliver long-term value to all of our stakeholders."

OVERALL FINANCIAL RESULTS


Q2



($ in Millions, except EPS)

2021

2020

% Change

Reported Sales

$ 23,312

$ 18,336

27.1%

Net Earnings

6,278

3,626

73.1

EPS (diluted)

$ 2.35

$ 1.36

72.8%





Q2



Non-GAAP*($ in Millions, except EPS)

2021

2020

% Change

Operational Sales1,2



23.0%

Adjusted Operational Sales1,3



23.8

Adjusted Net Earnings1,4

6,625

4,446

49.0

Adjusted EPS (diluted)1,4

$ 2.48

$ 1.67

48.5%



1

Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules

2

Excludes the impact of translational currency

3

Excludes the net impact of acquisitions and divestitures and translational currency

4

Excludes intangible amortization expense and special items

REGIONAL SALES RESULTS


Q2


% Change

($ in Millions)

2021

2020

Reported

Operational1,2

Currency

Adjusted
Operational1,3

U.S.

$ 11,919

$ 9,539

24.9%

24.9

-

25.1

International

11,393

8,797

29.5

20.9

8.6

22.4

Worldwide

$ 23,312

$ 18,336

27.1%

23.0

4.1

23.8



1

Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules

2

Excludes the impact of translational currency

3

Excludes the net impact of acquisitions and divestitures and translational currency


Note: values may have been rounded

SEGMENT SALES RESULTS


Q2


% Change

($ in Millions)

2021

2020

Reported

Operational1,2

Currency

Adjusted
Operational1,3

Consumer Health

$ 3,735

$ 3,296

13.3%

9.2

4.1

10.0

Pharmaceutical

12,599

10,752

17.2

13.6

3.6

14.1

Medical Devices

6,978

4,288

62.7

57.2

5.5

58.7

Worldwide

$ 23,312

$ 18,336

27.1%

23.0

4.1

23.8



1

Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules

2

Excludes the impact of translational currency

3

Excludes the net impact of acquisitions and divestitures and translational currency


Note: values may have been rounded

Second Quarter 2021 SEGMENT COMMENTARY:

Consumer Health
Consumer Health worldwide operational sales, excluding the net impact of acquisitions and divestitures, increased 10.0%* inclusive of the market recovery from COVID-19 impacts, primarily in skin health/beauty. Sales growth was driven by skin health/beauty products including NEUTROGENA, AVEENO, and OGX; over-the-counter products including ZYRTEC in upper respiratory products, international analgesics, and digestive health products; and BAND-AID® Brand Adhesive Bandages in wound care products.

Pharmaceutical
Pharmaceutical worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 14.1%* driven by STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, DARZALEX (daratumumab), for the treatment of multiple myeloma, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, and for adults with active psoriatic arthritis, ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer, IMBRUVICA (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer, and INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults. This growth was partially offset by biosimilar and generic competition, with declines primarily in REMICADE (infliximab), a biologic approved for the treatment of a number of immune-mediated inflammatory diseases.

Medical Devices
Medical Devices worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 58.7%*, primarily driven by the benefit of market recovery from COVID-19 impacts and the associated deferral of medical procedures in the prior year across all of our businesses including Surgery, Orthopaedics, Vision and Interventional Solutions.

NOTABLE NEW ANNOUCEMENTS IN THE QUARTER:
The information contained in this section should be read in conjunction with Johnson & Johnson's other disclosures filed with the Securities and Exchange Commission, including its Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. The reader is also encouraged to review all other news releases available online in the Investors section of the company's website at news releases.

Regulatory
Decisions

TECNIS SYNERGY and TECNIS SYNERGY TORIC II IOLS a Next Generation Treatment for Cataract Patients Received Regulatory Approval and Launched in the U.S. and Canada

(press release)

(press release)

RYBREVANT (amivantamab-vmjw) Receives U.S. FDA Approval as the First Targeted Treatment for Patients with Non-Small Cell Lung Cancer with EGFR Exon 20 Insertion Mutations

(press release)

PONVORY (ponesimod) receives European Commission approval for the Treatment of Adults with Relapsing Forms of Multiple Sclerosis with Active Disease Defined by Clinical or Imaging Features

(press release)

DARZALEX (daratumumab) Subcutaneous (SC) Formulation Becomes the First Approved Treatment for Newly Diagnosed Systemic Light Chain Amyloidosis in Europe and Gains an Additional Approval in Pre-Treated Multiple Myeloma

(press release)

DARZALEX FASPRO (daratumumab and hyaluronidase-fihj) Receives U.S. FDA Approval for Combination with Pomalidomide and Dexamethasone for Patients with Multiple Myeloma After First or Subsequent Relapse1

(press release)

Regulatory
Submissions

Janssen granted Breakthrough Therapy Designation from the U.S. FDA for Teclistamab for the Treatment of Relapsed or Refractory Multiple Myeloma

(press release)

Janssen Submits Marketing Authorisation Application to the European Medicines Agency for BCMA CAR-T Therapy Ciltacabtagene Autoleucel (cilta-cel) for the Treatment of Relapsed and/or Refractory Multiple Myeloma

(press release)

Janssen Submits New Drug Application to U.S. FDA for XARELTO (rivaroxaban) to Help Prevent and Treat Blood Clots in Pediatric Patients

(press release)

Other

Johnson & Johnson Joins World Health Organization in Efforts to Prevent Spread of Ebola in West Africa

(press release)

Janssen Discontinues Collaboration and License Agreement with argenx for Cusatuzumab

(press release)

ETHICON expands Advanced Bipolar Energy Portfolio with Launch of ENSEAL X1 Curved Jaw Tissue Sealer

(press release)

Johnson & Johnson Announces Positive New Data for the Single-Shot COVID-19 Vaccine on Activity Against Delta Variant and Long-lasting Durability of Response

(press release)

Johnson & Johnson Consumer Inc. Issues Voluntary Recall of Specific NEUTROGENA and AVEENO Aerosol Sunscreen Products Due to the Presence of Benzene1

(press release)

1Subsequent to the quarter


FULL-YEAR 2021 GUIDANCE:
Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.

($ in Billions, except EPS)

April 2021

July 2021 (Base Business)

July 2021 (incl. COVID Vx)

Adjusted Operational Sales1,2

Change vs. Prior Year

8.7% - 9.9%

9.5% - 10.5%

12.5% - 13.5%

Operational Sales2

Change vs. Prior Year

$89.3B - $90.3B

8.2% – 9.4%

$90.0B - $90.8B

9.0% – 10.0%

$92.5B - $93.3B

12.0% – 13.0%

Estimated Reported Sales3

Change vs. Prior Year

$90.6B - $91.6B

9.7% – 10.9%

$91.3B - $92.1B

10.5% – 11.5%

$93.8B - $94.6B

13.5% – 14.5%





Adjusted Operational EPS
(Diluted)2,4

Change vs. Prior Year

$9.30 - $9.45

15.8% - 17.7%


$9.50 - $9.60

18.4% - 19.6%

Adjusted EPS (Diluted)3,4

Change vs. Prior Year

$9.42 - $9.57

17.3% - 19.2%


$9.60 - $9.70

19.6% - 20.8%



1

Non-GAAP financial measure; excludes the net impact of acquisitions and divestitures

2

Non-GAAP financial measure; excludes the impact of translational currency

3

Calculated using Euro Average Rate: April 2021 = $1.19 and July 2021 = $1.19 (Illustrative purposes only)

4

Non-GAAP financial measure; excludes intangible amortization expense and special items


Note: % may have been rounded

Other modeling considerations will be provided on the webcast.

WEBCAST INFORMATION:
Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website. A replay and podcast will be available approximately two hours after the live webcast in the Investors section of the company's website at events-and-presentations.

ABOUT JOHNSON & JOHNSON:
At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That's why for more than 130 years, we have aimed to keep people well at every age and every stage of life. Today, as the world's largest and most broadly-based health care company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.

NON-GAAP FINANCIAL MEASURES:
*Operational sales growth excluding the impact of translational currency, adjusted operational sales growth excluding the net impact of acquisitions and divestitures and translational currency, as well as adjusted net earnings, adjusted diluted earnings per share and adjusted operational diluted earnings per share excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investors section of the company's website at quarterly-results.

Copies of the financial schedules accompanying this earnings release are available on the company's website at quarterly-results. These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including adjusted income before tax by segment, a pharmaceutical pipeline of selected compounds in late stage development and a copy of today's earnings call presentation can also be found in the Investors section of the company's website at quarterly-results.

NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, market position and business strategy. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays and cancellations of medical procedures, supply chain disruptions and other impacts to the business, or on the Company's ability to execute business continuity plans, as a result of the COVID-19 pandemic, economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the Company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 3, 2021 including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," in the Company's most recently filed Quarterly Report on Form 10-Q and the Company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

Johnson & Johnson and Subsidiaries













Supplementary Sales Data

































(Unaudited; Dollars in Millions)

SECOND QUARTER


SIX MONTHS






Percent Change






Percent Change


2021


2020


Total


Operations


Currency


2021


2020


Total


Operations


Currency

Sales to customers by




















segment of business








































Consumer Health




















U.S.

$ 1,751


1,557


12.4

%

12.4


-


$ 3,362


3,297


2.0

%

2.0


-

International

1,984


1,739


14.1


6.3


7.8


3,916


3,624


8.1


3.3


4.8


3,735


3,296


13.3


9.2


4.1


7,278


6,921


5.2


2.7


2.5





















Pharmaceutical




















U.S.

6,869


6,120


12.2


12.2


-


13,315


12,181


9.3


9.3


-

International

5,730


4,632


23.7


15.4


8.3


11,483


9,705


18.3


11.4


6.9


12,599


10,752


17.2


13.6


3.6


24,798


21,886


13.3


10.3


3.0





















Medical Devices




















U.S.

3,299


1,862


77.2


77.2


-


6,353


4,760


33.5


33.5


-

International

3,679


2,426


51.6


41.9


9.7


7,204


5,460


31.9


24.5


7.4


6,978


4,288


62.7


57.2


5.5


13,557


10,220


32.7


28.7


4.0





















U.S.

11,919


9,539


24.9


24.9


-


23,030


20,238


13.8


13.8


-

International

11,393


8,797


29.5


20.9


8.6


22,603


18,789


20.3


13.7


6.6

Worldwide

$ 23,312


18,336


27.1

%

23.0


4.1


$ 45,633


39,027


16.9

%

13.7


3.2





















Note:Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

Johnson & Johnson and Subsidiaries




















Supplementary Sales Data








































(Unaudited; Dollars in Millions)

SECOND QUARTER


SIX MONTHS






Percent Change






Percent Change


2021


2020


Total


Operations


Currency


2021


2020


Total


Operations


Currency

Sales to customers by




















geographic area























...
















U.S.

$ 11,919


9,539


24.9

%

24.9


-


$ 23,030


20,238


13.8

%

13.8


-





















Europe

5,668


4,063


39.5


28.6


10.9


11,082


8,890


24.7


15.6


9.1

Western Hemisphere excluding U.S.

1,367


1,133


20.6


12.7


7.9


2,791


2,635


5.9


5.4


0.5

Asia-Pacific, Africa

4,358


3,601


21.0


14.8


6.2


8,730


7,264


20.2


14.2


6.0

International

11,393


8,797


29.5


20.9


8.6


22,603


18,789


20.3


13.7


6.6





















Worldwide

$ 23,312


18,336


27.1

%

23.0


4.1


$ 45,633


39,027


16.9

%

13.7


3.2





















Note:Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

Johnson & Johnson and Subsidiaries










Condensed Consolidated Statement of Earnings




















(Unaudited; in Millions Except Per Share Figures)

SECOND QUARTER












2021


2020


Percent




Percent




Percent


Increase


Amount


to Sales


Amount


to Sales


(Decrease)

Sales to customers

$ 23,312


100.0


$ 18,336


100.0


27.1

Cost of products sold

7,587


32.5


6,579


35.9


15.3

Gross Profit

15,725


67.5


11,757


64.1


33.8

Selling, marketing and administrative expenses

6,073


26.1


4,993


27.2


21.6

Research and development expense

3,394


14.6


2,707


14.8


25.4

In-process research and development

0


0.0


6


0.0



Interest (income) expense, net

28


0.1


26


0.2



Other (income) expense, net

(488)


(2.1)


24


0.1



Restructuring

56


0.2


61


0.3



Earnings before provision for taxes on income

6,662


28.6


3,940


21.5


69.1

Provision for taxes on income

384


1.7


314


1.7


22.3

Net earnings

$ 6,278


26.9


$ 3,626


19.8


73.1











Net earnings per share (Diluted)

$ 2.35




$ 1.36




72.8











Average shares outstanding (Diluted)

2,671.6




2,665.5















Effective tax rate

5.8

%



8.0

%














Adjusted earnings before provision for taxes and net earnings (1)










Earnings before provision for taxes on income

$ 7,776


33.4


$ 5,337


29.1


45.7

Net earnings

$ 6,625


28.4


$ 4,446


24.2


49.0

Net earnings per share (Diluted)

$ 2.48




$ 1.67




48.5

Effective tax rate

14.8

%



16.7

%














(1)See Reconciliation of Non-GAAP Financial Measures.










Johnson & Johnson and Subsidiaries










Condensed Consolidated Statement of Earnings




















(Unaudited; in Millions Except Per Share Figures)

SIX MONTHS












2021


2020


Percent




Percent




Percent


Increase


Amount


to Sales


Amount


to Sales


(Decrease)

Sales to customers

$ 45,633


100.0


$ 39,027


100.0


16.9

Cost of products sold

14,650


32.1


13,641


35.0


7.4

Gross Profit

30,983


67.9


25,386


65.0


22.0

Selling, marketing and administrative expenses

11,505


25.2


10,196


26.1


12.8

Research and development expense

6,572


14.4


5,287


13.5


24.3

In-process research and development

0


0.0


6


0.0



Interest (income) expense, net

76


0.2


(16)


0.0



Other (income) expense, net

(1,370)


(3.0)


(655)


(1.7)



Restructuring

109


0.2


119


0.3



Earnings before provision for taxes on income

14,091


30.9


10,449


26.8


34.9

Provision for taxes on income

1,616


3.6


1,027


2.7


57.4

Net earnings

$ 12,475


27.3


$ 9,422


24.1


32.4











Net earnings per share (Diluted)

$ 4.67




$ 3.53




32.3











Average shares outstanding (Diluted)

2,674.0




2,671.0















Effective tax rate

11.5

%



9.8

%














Adjusted earnings before provision for taxes and net earnings (1)










Earnings before provision for taxes on income

$ 16,067


35.2


$ 12,581


32.2


27.7

Net earnings

$ 13,549


29.7


$ 10,600


27.2


27.8

Net earnings per share (Diluted)

$ 5.07




$ 3.97




27.7

Effective tax rate

15.7

%



15.7

%














(1)See Reconciliation of Non-GAAP Financial Measures.










Johnson & Johnson and Subsidiaries








Reconciliation of Non-GAAP Financial Measures



















Second Quarter


Six Months Ended


(Dollars in Millions Except Per Share Data)

2021


2020


2021


2020


Net Earnings, after tax- as reported

$6,278


$3,626


$12,475


$9,422











Pre-tax Adjustments









Intangible Asset Amortization expense

1,202


1,127


2,417


2,245


Litigation related

(23)


613


(23)


733


IPR&D

-


6


-


6


Restructuring related

108


115


212


233


Acquisition, integration and divestiture related ¹

14


29


(524)


(933)


Unrealized (gains)/losses on securities

(243)


(533)


(208)


(206)


Medical Device Regulation

56


37


102


51


Other

-


3


-


3











Tax Adjustments









Tax impact on special item adjustments 2

(135)


(253)


(248)


(520)


Tax legislation and other tax related

(632)


(324)


(654)


(434)


Adjusted Net Earnings, after tax

$6,625


$4,446


$13,549


$10,600


Average shares outstanding (Diluted)

2,671.6


2,665.5


2,674.0


2,671.0


Adjusted net earnings per share (Diluted)

$2.48


$1.67


$5.07


$3.97


Operational adjusted net earnings per share (Diluted)

$2.42




$4.91













Notes:








1

Acquisition, integration and divestiture related for the six months of 2021 primarily includes the gain on the divestiture of two Pharmaceutical brands outside of the U.S. The six months of 2020 primarily includes a $983M Contingent Consideration reversal related to the timing of certain developmental milestones associated with the Auris Health acquisition.










2

The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings.


Johnson & Johnson and Subsidiaries







Reconciliation of Non-GAAP Financial Measure
















Adjusted Operational Sales Growth

SECOND QUARTER 2021 ACTUAL vs. 2020 ACTUAL


Segments












Consumer Health


Pharmaceutical


Medical Devices


Total










WW As Reported


13.3%


17.2%


62.7%


27.1%

U.S.


12.4%


12.2%


77.2%


24.9%

International


14.1%


23.7%


51.6%


29.5%










WW Currency


4.1


3.6


5.5


4.1

U.S.


-


-


-


-

International


7.8


8.3


9.7


8.6










WW Operational


9.2%


13.6%


57.2%


23.0%

U.S.


12.4%


12.2%


77.2%


24.9%

International


6.3%


15.4%


41.9%


20.9%










General Surgery









Advanced Sterilization Products






1.2


0.2

U.S.






0.0


0.0

International






1.9


0.4










All Other Acquisitions and Divestitures


0.8


0.6


0.3


0.6

U.S.


0.6


(0.1)


0.7


0.1

International


1.1


1.5


0.0


1.0










WW Adjusted Operational


10.0%


14.1%


58.7%


23.8%

U.S.


13.0%


12.1%


77.9%


25.1%

International


7.4%


16.8%


43.8%


22.4%










Note: Percentages are based on actual, non-rounded figures and may not sum



Johnson & Johnson and Subsidiaries







Reconciliation of Non-GAAP Financial Measure
















Adjusted Operational Sales Growth

SIX MONTHS 2021 ACTUAL vs. 2020 ACTUAL


Segments












Consumer Health


Pharmaceutical


Medical Devices


Total










WW As Reported


5.2%


13.3%


32.7%


16.9%

U.S.


2.0%


9.3%


33.5%


13.8%

International


8.1%


18.3%


31.9%


20.3%










WW Currency


2.5


3.0


4.0


3.2

U.S.


-


-


-


-

International


4.8


6.9


7.4


6.6










WW Operational


2.7%


10.3%


28.7%


13.7%

U.S.


2.0%


9.3%


33.5%


13.8%

International


3.3%


11.4%


24.5%


13.7%










General Surgery









Advanced Sterilization Products






0.8


0.2

U.S.






0.0


0.0

International






1.5


0.4










All Other Acquisitions and Divestitures


0.6


0.5


0.2


0.4

U.S.


0.5


(0.1)


0.5


0.1

International


0.7


1.2


0.0


0.8










WW Adjusted Operational


3.3%


10.7%


29.7%


14.4%

U.S.


2.5%


9.2%


33.9%


13.9%

International


4.0%


12.6%


26.0%


14.8%










Note: Percentages are based on actual, non-rounded figures and may not sum






REPORTED SALES vs. PRIOR PERIOD ($MM)






REPORTED SALES vs. PRIOR PERIOD ($MM)



SECOND QUARTER





SIX MONTHS







% Change








% Change




2021


2020

Reported

Operational (1)

Currency





2021


2020

Reported

Operational (1)

Currency


CONSUMER HEALTH SEGMENT (2)



















OTC



















US


$ 675


627

7.7%

7.7%

-





$ 1,274


1,316

-3.2%

-3.2%

-


Intl


633


522

21.2%

10.4%

10.8%





1,208


1,181

2.3%

-4.7%

7.0%


WW


1,307


1,149

13.8%

8.9%

4.9%





2,482


2,497

-0.6%

-3.9%

3.3%


SKIN HEALTH / BEAUTY



















US


659


536

23.0%

23.0%

-





1,293


1,195

8.2%

8.2%

-


Intl


511


471

8.4%

1.4%

7.0%





1,040


929

12.0%

6.8%

5.2%


WW


1,170


1,007

16.2%

12.9%

3.3%





2,333


2,124

9.8%

7.6%

2.2%


ORAL CARE



















US


165


170

-3.1%

-3.1%

-





328


346

-5.2%

-5.2%

-


Intl


260


227

14.6%

6.7%

7.9%





514


446

15.3%

10.2%

5.1%


WW


426


397

7.0%

2.5%

4.5%





843


792

6.3%

3.5%

2.8%


BABY CARE



















US


97


96

0.8%

0.8%

-





193


188

2.4%

2.4%

-


Intl


290


260

11.5%

6.6%

4.9%





583


529

10.2%

9.0%

1.2%


WW


387


356

8.6%

5.0%

3.6%





776


717

8.1%

7.3%

0.8%


WOMEN'S HEALTH



















US


3


3

-3.1%

-3.1%

-





6


7

-16.0%

-16.0%

-


Intl


227


199

14.2%

9.2%

5.0%





446


427

4.5%

3.1%

1.4%


WW


230


202

13.9%

9.0%

4.9%





452


434

4.2%

2.8%

1.4%


WOUND CARE / OTHER



















US


153


126

20.9%

20.9%

-





268


245

9.3%

9.3%

-


Intl


64


59

7.3%

-2.8%

10.1%





125


111

12.1%

5.2%

6.9%


WW


216


185

16.6%

13.4%

3.2%





393


356

10.2%

8.0%

2.2%





















TOTAL CONSUMER HEALTH



















US


1,751


1,557

12.4%

12.4%

-





3,362


3,297

2.0%

2.0%

-


Intl


1,984


1,739

14.1%

6.3%

7.8%





3,916


3,624

8.1%

3.3%

4.8%


WW


$ 3,735


3,296

13.3%

9.2%

4.1%





$ 7,278


6,921

5.2%

2.7%

2.5%








































See footnotes at end of schedule




















REPORTED SALES vs. PRIOR PERIOD ($MM)





REPORTED SALES vs. PRIOR PERIOD ($MM)



SECOND QUARTER




SIX MONTHS







% Change








% Change


PHARMACEUTICAL SEGMENT (2,3)


2021


2020

Reported

Operational (1)

Currency





2021


2020

Reported

Operational (1)

Currency





















IMMUNOLOGY



















US


$ 2,748


2,362

16.4%

16.4%

-





$ 5,161


4,772

8.2%

8.2%

-


Intl


1,483


1,161

27.7%

18.2%

9.5%





2,984


2,389

24.9%

17.0%

7.9%


WW


4,231


3,523

20.1%

17.0%

3.1%





8,145


7,161

13.7%

11.1%

2.6%


REMICADE



















US


540


593

-9.1%

-9.1%

-





1,029


1,218

-15.6%

-15.6%

-


US Exports (4)


93


133

-30.0%

-30.0%

-





150


243

-38.2%

-38.2%

-


Intl


255


208

22.4%

11.1%

11.3%





487


464

4.9%

-1.7%

6.6%


WW


888


935

-5.1%

-7.6%

2.5%





1,665


1,925

-13.5%

-15.1%

1.6%


SIMPONI / SIMPONI ARIA



















US


290


256

12.8%

12.8%

-





545


528

3.2%

3.2%

-


Intl


294


289

1.7%

-3.8%

5.5%





601


547

9.8%

4.5%

5.3%


WW


584


546

6.9%

4.0%

2.9%





1,146


1,075

6.6%

3.8%

2.8%


STELARA



















US


1,496


1,138

31.4%

31.4%

-





2,827


2,355

20.0%

20.0%

-


Intl


778


558

39.2%

28.6%

10.6%





1,595


1,161

37.3%

28.1%

9.2%


WW


2,274


1,697

34.0%

30.5%

3.5%





4,422


3,516

25.8%

22.7%

3.1%


TREMFYA



















US


325


241

35.0%

35.0%

-





599


428

40.0%

40.0%

-


Intl


155


101

52.3%

41.1%

11.2%





298


210

41.8%

31.8%

10.0%


WW


479


342

40.2%

36.8%

3.4%





897


638

40.6%

37.3%

3.3%


OTHER IMMUNOLOGY



















US


5


-

*

*

-





12


-

*

*

-


Intl


1


3

-61.3%

-67.9%

6.6%





3


6

-51.2%

-53.9%

2.7%


WW


7


3

*

*

*





15


6

*

*

*


INFECTIOUS DISEASES



















US


444


416

6.8%

6.8%

-





956


852

12.2%

12.2%

-


Intl


585


463

26.3%

18.2%

8.1%





1,079


946

14.1%

7.8%

6.3%


WW


1,028


878

17.1%

12.8%

4.3%





2,035


1,798

13.2%

9.9%

3.3%


COVID-19 VACCINE



















US


51


-

*

*

-





151


-

*

*

-


Intl


113


-

*

*

-





113


-

*

*

-


WW


164


-

*

*

-





264


-

*

*

-


EDURANT / rilpivirine



















US


9


10

-9.3%

-9.3%

-





19


22

-10.9%

-10.9%

-


Intl


253


246

2.8%

-4.0%

6.8%





486


458

6.0%

-1.7%

7.7%


WW


262


256

2.3%

-4.2%

6.5%





505


480

5.2%

-2.1%

7.3%


PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA



















US


368


379

-3.2%

-3.2%

-





748


775

-3.5%

-3.5%

-


Intl


137


130

5.5%

-5.9%

11.4%





303


314

-3.5%

-8.5%

5.0%


WW


505


510

-1.0%

-3.9%

2.9%





1,051


1,089

-3.5%

-5.0%

1.5%


OTHER INFECTIOUS DISEASES



















US


16


25

-36.2%

-36.2%

-





37


54

-31.3%

-31.3%

-


Intl


81


87

-6.2%

-13.4%

7.2%





177


174

1.8%

-3.0%

4.8%


WW


98


113

-13.0%

-18.5%

5.5%





215


229

-6.1%

-9.7%

3.6%
























REPORTED SALES vs. PRIOR PERIOD ($MM)






REPORTED SALES vs. PRIOR PERIOD ($MM)



SECOND QUARTER





SIX MONTHS







% Change








% Change




2021


2020

Reported

Operational (1)

Currency





2021


2020

Reported

Operational (1)

Currency


NEUROSCIENCE



















US


842


778

8.0%

8.0%

-





1,613


1,526

5.6%

5.6%

-


Intl


967


809

19.6%

13.1%

6.5%





1,916


1,719

11.5%

6.3%

5.2%


WW


1,808


1,587

13.9%

10.6%

3.3%





3,529


3,245

8.7%

6.0%

2.7%


CONCERTA / Methylphenidate



















US