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      Johnson & Johnson Reports 2015 Second-Quarter Results:

      Johnson & Johnson Reports 2015 Second-Quarter Results:

      Sales of $17.8 Billion Decreased 8.8% Versus 2014 Second Quarter

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      NEW BRUNSWICK, N.J., July 14, 2015 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced sales of $17.8 billion for the second quarter of 2015, a decrease of 8.8% as compared to the second quarter of 2014. Operational results decreased 0.9% and the negative impact of currency was 7.9%. Domestic sales decreased 2.4%. International sales decreased 14.3%, reflecting operational growth of 0.5% and a negative currency impact of 14.8%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.7%, domestic sales increased 0.6% and international sales increased 2.7%.* Additionally excluding hepatitis C sales, underlying operational growth worldwide was 5%.*

      Net earnings and diluted earnings per share for the second quarter of 2015 were $4.5 billion and $1.61, respectively. Second quarter 2015 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a charge for after-tax special items of approximately $0.1 billion. Second quarter 2014 net earnings included after-tax intangible amortization expense of approximately $0.4 billion and a charge for after-tax special items of approximately $0.4 billion. A reconciliation of non-GAAP financial measures is included as an accompanying schedule. Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $4.8 billion and adjusted diluted earnings per share were $1.71, representing decreases of 6.3% and 3.9%, respectively, as compared to the same period in 2014.* On an operational basis, adjusted diluted earnings per share increased 6.7%.*

      “Our solid sales and earnings results in the quarter reflect the strong underlying growth we’re seeing across the enterprise,” said Alex Gorsky, Chairman and Chief Executive Officer. “Our diverse portfolio and scale are enabling this performance, and we’ve continued to invest in building a robust enterprise pipeline that will drive our growth over the long term. Our passion to deliver transformational new medicines and products reflects the ongoing commitment of our dedicated employees to improve health and well-being.”

      The Company increased its adjusted earnings guidance for full-year 2015 to $6.10 - $6.20 per share. The Company’s guidance excludes the impact of after-tax intangible amortization expense and special items.

      Worldwide Consumer sales of $3.5 billion for the second quarter represented a decrease of 7.0% versus the prior year, consisting of an operational increase of 2.3% and a negative impact from currency of 9.3%. Domestic sales increased 2.7%; international sales decreased 12.2%, which reflected an operational increase of 2.1% and a negative currency impact of 14.3%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 3.1%, domestic sales increased 2.9% and international sales increased 3.2%.*

      Positive contributors to Consumer operational results were sales of over-the-counter products including ZYRTEC® allergy medications and TYLENOL® analgesics; international feminine protection products; and LISTERINE® oral care products.

      Worldwide Pharmaceutical sales of $7.9 billion for the second quarter represented a decrease of 6.6% versus the prior year with operational growth of 1.0% and a negative impact from currency of 7.6%. Domestic sales decreased 1.5%; international sales decreased 12.7%, which reflected an operational increase of 3.8% and a negative currency impact of 16.5%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.5%, domestic sales decreased 0.6% and international sales increased 3.9%.* Additionally excluding hepatitis C sales, underlying operational growth worldwide was 9.7%.*

      Worldwide operational sales growth was driven by new products and the strength of core products. New product sales growth was negatively impacted by lower sales of OLYSIO® (simeprevir) in the U.S and lower sales of SOVRIAD® (simeprevir) in Japan due to competitive entrants. Strong growth in new products include INVOKANA®/INVOKAMET® (canagliflozin), for the treatment of adults with type 2 diabetes; international sales of OLYSIO® (simeprevir), for combination treatment of chronic hepatitis C in adult patients; IMBRUVICA® (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, or blood cancers; XARELTO® (rivaroxaban), an oral anticoagulant; and ZYTIGA® (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic, castration-resistant prostate cancer.

      Additional contributors to operational sales growth were STELARA® (ustekinumab), a biologic approved for the treatment of moderate to severe plaque psoriasis and psoriatic arthritis; INVEGA® SUSTENNA®/XEPLION® (paliperidone palmitate), a once-monthly, long-acting, injectable atypical antipsychotic for the treatment of schizophrenia in adults; domestic sales of CONCERTA® (methylphenidate HCI), for the treatment of attention deficit hyperactivity disorder; and SIMPONI®/SIMPONI ARIA® (golimumab), biologics approved for the treatment of a number of immune-mediated inflammatory diseases.

      During the quarter, the U.S. Food and Drug Administration (FDA) granted approval of INVEGA TRINZA(paliperidone palmitate), an atypical antipsychotic injection administered four times a year for the treatment of schizophrenia. In July, a rolling submission was completed with the FDA for the Biologic License Application for daratumumab for the treatment of multiple myeloma. The European Commission approved STELARA® (ustekinumab) for the treatment of adolescents with moderate-to-severe psoriasis, SIMPONI® (golimumab) for treatment of non-radiographic axial spondyloarthritis and IMBRUVICA® (ibrutinib) for the treatment of Waldenström’s Macroglobulinemia.

      Also in the quarter, an exclusive worldwide license and collaboration arrangement was entered into with Achillion Pharmaceuticals, Inc. to develop and commercialize one or more of Achillion’s lead hepatitis C virus assets.

      Worldwide Medical Devices sales of $6.4 billion for the second quarter represented a decrease of 12.2% versus the prior year consisting of an operational decrease of 4.7% and a negative currency impact of 7.5%. Domestic sales decreased 5.8%; international sales decreased 17.3%, which reflected an operational decrease of 3.9% and a negative currency impact of 13.4%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.4%, domestic sales increased 1.6% and international sales increased 1.4%.*

      Primary contributors to operational growth were sales of endocutters in the Surgical Care business; electrophysiology products in the Cardiovascular Care business; joint reconstruction products in the Orthopaedics business; international sales of contact lenses in the Vision Care business; and sales of biosurgicals and energy products in the Specialty Surgery business.

      During the quarter, the Company announced the acceptance of the March 1, 2015 binding offer from Cardinal Health to acquire its Cordis business for an approximate value of $2 billion.

      About Johnson & Johnson

      Caring for the world, one person at a time, inspires and unites the people of Johnson & Johnson. We embrace research and science - bringing innovative ideas, products and services to advance the health and well-being of people. Our approximately 127,300 employees at more than 265 Johnson & Johnson operating companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.

      * Operational sales growth excluding the net impact of acquisitions, divestitures and hepatitis C sales, as well as adjusted net earnings, adjusted diluted earnings per share and operational adjusted 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. 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 Investor Relations section of the Company’s website at www.investor.jnj.com.

      Johnson & Johnson will conduct a conference call with investors to discuss this news 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 at www.investor.jnj.com. A replay and podcast will be available approximately two hours after the live webcast by visiting www.investor.jnj.com.

      Copies of the financial schedules accompanying this press release are available at www.investor.jnj.com/historical-sales.cfm. 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 a pharmaceutical pipeline of selected compounds in late stage development and a copy of today’s earnings call presentation can be found on the Company’s website at www.investor.jnj.com.

      NOTE TO INVESTORS

      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, economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges and uncertainties inherent in new product development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; the ability of the company to successfully execute strategic plans; impact of business combinations and divestitures; challenges to patents; the impact of patent expirations; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; increased scrutiny of the health care industry by government agencies; and the potential failure to meet obligations in compliance agreements with government bodies. A further list and description 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 December 28, 2014, including Exhibit 99 thereto, and the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.investor.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 statements 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


      2015


      2014


      Total


      Operations


      Currency


      2015


      2014


      Total


      Operations


      Currency

      Sales to customers by




















      segment of business








































      Consumer




















      U.S.

      $ 1,355


      1,320


      2.7

      %

      2.7


      -


      $ 2,714


      2,629


      3.2

      %

      3.2


      -

      International

      2,128


      2,424


      (12.2)


      2.1


      (14.3)


      4,159


      4,672


      (11.0)


      2.6


      (13.6)


      3,483


      3,744


      (7.0)


      2.3


      (9.3)


      6,873


      7,301


      (5.9)


      2.8


      (8.7)





















      Pharmaceutical




















      U.S.

      4,543


      4,613


      (1.5)


      (1.5)


      -


      8,914


      8,353


      6.7


      6.7


      -

      International

      3,403


      3,896


      (12.7)


      3.8


      (16.5)


      6,758


      7,654


      (11.7)


      3.8


      (15.5)


      7,946


      8,509


      (6.6)


      1.0


      (7.6)


      15,672


      16,007


      (2.1)


      5.3


      (7.4)





















      Medical Devices




















      U.S.

      3,013


      3,199


      (5.8)


      (5.8)


      -


      5,975


      6,354


      (6.0)


      (6.0)


      -

      International

      3,345


      4,043


      (17.3)


      (3.9)


      (13.4)


      6,641


      7,948


      (16.4)


      (3.5)


      (12.9)


      6,358


      7,242


      (12.2)


      (4.7)


      (7.5)


      12,616


      14,302


      (11.8)


      (4.6)


      (7.2)





















      U.S.

      8,911


      9,132


      (2.4)


      (2.4)


      -


      17,603


      17,336


      1.5


      1.5


      -

      International

      8,876


      10,363


      (14.3)


      0.5


      (14.8)


      17,558


      20,274


      (13.4)


      0.6


      (14.0)

      Worldwide

      $ 17,787


      19,495


      (8.8)

      %

      (0.9)


      (7.9)


      $ 35,161


      37,610


      (6.5)

      %

      1.1


      (7.6)

      Johnson & Johnson and Subsidiaries



















      Supplementary Sales Data








































      (Unaudited; Dollars in Millions)

      SECOND QUARTER


      SIX MONTHS






      Percent Change






      Percent Change


      2015


      2014


      Total


      Operations


      Currency


      2015


      2014


      Total


      Operations


      Currency

      Sales to customers by




















      geographic area








































      U.S.

      $ 8,911


      9,132


      (2.4)

      %

      (2.4)


      -


      $ 17,603


      17,336


      1.5

      %

      1.5


      -





















      Europe

      4,151


      5,056


      (17.9)


      1.0


      (18.9)


      8,191


      9,941


      (17.6)


      0.7


      (18.3)

      Western Hemisphere excluding U.S.

      1,501


      1,863


      (19.4)


      (4.0)


      (15.4)


      3,140


      3,558


      (11.7)


      2.6


      (14.3)

      Asia-Pacific, Africa

      3,224


      3,444


      (6.4)


      2.2


      (8.6)


      6,227


      6,775


      (8.1)


      (0.4)


      (7.7)

      International

      8,876


      10,363


      (14.3)


      0.5


      (14.8)


      17,558


      20,274


      (13.4)


      0.6


      (14.0)





















      Worldwide

      $ 17,787


      19,495


      (8.8)

      %

      (0.9)


      (7.9)


      $ 35,161


      37,610


      (6.5)

      %

      1.1


      (7.6)

      Johnson & Johnson and Subsidiaries










      Condensed Consolidated Statement of Earnings




















      (Unaudited; in Millions Except Per Share Figures)

      SECOND QUARTER












      2015


      2014


      Percent




      Percent




      Percent


      Increase


      Amount


      to Sales


      Amount


      to Sales


      (Decrease)

      Sales to customers

      $ 17,787


      100.0


      $ 19,495


      100.0


      (8.8)

      Cost of products sold

      5,357


      30.1


      6,039


      31.0


      (11.3)

      Selling, marketing and administrative expenses

      5,384


      30.3


      5,481


      28.1


      (1.8)

      Research and development expense

      2,129


      12.0


      2,005


      10.3


      6.2

      In-process research and development

      -


      -


      4


      0.0



      Interest (income) expense, net

      107


      0.6


      114


      0.6



      Other (income) expense, net

      (931)


      (5.3)


      226


      1.1



      Earnings before provision for taxes on income

      5,741


      32.3


      5,626


      28.9


      2.0

      Provision for taxes on income

      1,225


      6.9


      1,300


      6.7


      (5.8)

      Net earnings

      $ 4,516


      25.4


      $ 4,326


      22.2


      4.4











      Net earnings per share (Diluted)

      $ 1.61




      $ 1.51




      6.6











      Average shares outstanding (Diluted)

      2,812.0




      2,874.2















      Effective tax rate

      21.3

      %



      23.1

      %














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










      Earnings before provision for taxes on income

      $ 6,248


      35.1


      $ 6,524


      33.5


      (4.2)

      Net earnings

      $ 4,812


      27.1


      $ 5,133


      26.3


      (6.3)

      Net earnings per share (Diluted)

      $ 1.71




      $ 1.78




      (3.9)

      Effective tax rate

      23.0

      %



      21.3

      %














      (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












      2015


      2014


      Percent




      Percent




      Percent


      Increase


      Amount


      to Sales


      Amount


      to Sales


      (Decrease)

      Sales to customers

      $ 35,161


      100.0


      $ 37,610


      100.0


      (6.5)

      Cost of products sold

      10,639


      30.2


      11,494


      30.6


      (7.4)

      Selling, marketing and administrative expenses

      10,231


      29.1


      10,664


      28.3


      (4.1)

      Research and development expense

      4,028


      11.5


      3,836


      10.2


      5.0

      In-process research and development

      -


      -


      22


      0.1



      Interest (income) expense, net

      226


      0.6


      232


      0.6



      Other (income) expense, net

      (1,279)


      (3.6)


      312


      0.8



      Earnings before provision for taxes on income

      11,316


      32.2


      11,050


      29.4


      2.4

      Provision for taxes on income

      2,480


      7.1


      1,997


      5.3


      24.2

      Net earnings

      $ 8,836


      25.1


      $ 9,053


      24.1


      (2.4)











      Net earnings per share (Diluted)

      $ 3.13




      $ 3.15




      (0.6)











      Average shares outstanding (Diluted)

      2,821.0




      2,875.5















      Effective tax rate

      21.9

      %



      18.1

      %














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










      Earnings before provision for taxes on income

      $ 11,878


      33.8


      $ 12,452


      33.1


      (4.6)

      Net earnings

      $ 9,230


      26.3


      $ 9,826


      26.1


      (6.1)

      Net earnings per share (Diluted)

      $ 3.27




      $ 3.41




      (4.1)

      Effective tax rate

      22.3

      %



      21.1

      %














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










      Johnson & Johnson and Subsidiaries














      Reconciliation of Non-GAAP Financial Measures





























      Second Quarter


      % Incr. /



      Six Months YTD


      % Incr. /


      (Dollars in Millions Except Per Share Data)

      2015


      2014


      (Decr.)



      2015


      2014


      (Decr.)
















      Earnings before provision for taxes on income - as reported

      $ 5,741


      5,626


      2.0

      %


      $ 11,316


      11,050


      2.4

      %















      Intangible asset amortization expense

      318


      474





      630


      842


















      Litigation expense/(gain), net

      134


      276





      (268)


      276


















      Synthes integration costs

      49


      144





      81


      262


















      DePuy ASR™Hip program

      9


      -





      148


      -


















      In-process research and development

      -


      4





      -


      22


















      Ortho-Clinical Diagnostics divestiture net gain

      (3)


      -





      (29)


      -


















      Earnings before provision for taxes on income - as adjusted

      $ 6,248


      6,524


      (4.2)

      %


      $ 11,878


      12,452


      (4.6)

      %















      Net Earnings - as reported

      $ 4,516


      4,326


      4.4

      %


      $ 8,836


      9,053


      (2.4)

      %















      Intangible asset amortization expense

      230


      358





      456


      625


















      Litigation expense/(gain), net

      23


      342

      (1)




      (230)


      342


















      Synthes integration costs

      37


      104





      62


      188


















      DePuy ASR™Hip program

      8


      -





      130


      -


















      In-process research and development

      -


      3





      -


      16


















      Tax benefit associated with Conor Medsystems

      -


      -





      -


      (398)


















      Ortho-Clinical Diagnostics divestiture net gain

      (2)


      -





      (24)


      -


















      Net Earnings - as adjusted

      $ 4,812


      5,133


      (6.3)

      %


      $ 9,230


      9,826


      (6.1)

      %















      Diluted Net Earnings per share - as reported

      $ 1.61


      1.51


      6.6

      %


      $ 3.13


      3.15


      (0.6)

      %















      Intangible asset amortization expense

      0.08


      0.12





      0.16


      0.21


















      Litigation expense/(gain), net

      0.01


      0.12





      (0.08)


      0.12


















      Synthes integration costs

      0.01


      0.03





      0.02


      0.06


















      DePuy ASR™Hip program

      -


      -





      0.05


      -


















      In-process research and development

      -


      -





      -


      0.01


















      Tax benefit associated with Conor Medsystems

      -


      -





      -


      (0.14)


















      Ortho-Clinical Diagnostics divestiture net gain

      -


      -





      (0.01)


      -


















      Diluted Net Earnings per share - as adjusted

      $ 1.71


      1.78


      (3.9)

      %


      $ 3.27


      3.41


      (4.1)

      %















      Operational Diluted Net Earnings per share - as adjusted*

      $ 1.90


      1.78


      6.7

      %


      $ 3.59


      3.41


      5.3

      %















      *Excludes the effect of translational currency




























      (1) Includes adjustment to deferred tax asset related to deductibility by tax jurisdiction









      Johnson & Johnson and Subsidiaries









      Reconciliation of Non-GAAP Financial Measure


















      Operational Sales Growth Excluding Acquisitions, Divestitures and Hepatitis C (1)

      SECOND QUARTER 2015 ACTUAL vs. 2014 ACTUAL











      Segments












      Consumer


      Pharmaceutical


      Medical Devices


      Total



      Operational % (2)

      WW As Reported:


      2.3%


      1.0%


      (4.7)%


      (0.9)%

      U.S.


      2.7%


      (1.5)%


      (5.8)%


      (2.4)%

      International


      2.1%


      3.8%


      (3.9)%


      0.5%










      Wound Care / Other









      BENECOL ®


      0.8






      0.1

      U.S.


      0.0






      0.0

      International


      1.1






      0.2










      Diagnostics









      Ortho-Clinical Diagnostics






      6.1


      2.3

      U.S.






      7.4


      2.5

      International






      5.3


      2.0










      Other Neuroscience









      NUCYNTA ®




      0.5




      0.2

      U.S.




      0.9




      0.5

      International




      0.1




      0.0










      All Other Acquisitions and Divestitures


      0.0






      0.0

      U.S.


      0.2






      0.0

      International


      0.0






      0.0










      WW Ops excluding Acquisitions and Divestitures


      3.1%


      1.5%


      1.4%


      1.7%

      U.S.


      2.9%


      (0.6)%


      1.6%


      0.6%

      International


      3.2%


      3.9%


      1.4%


      2.7%










      Hepatitis C




      8.2




      3.3

      U.S.




      17.1




      7.8

      International




      (1.4)




      (0.6)










      WW Ops excluding Acquisitions, Divestitures and Hepatitis C


      3.1%


      9.7%


      1.4%


      5.0%

      U.S.


      2.9%


      16.5%


      1.6%


      8.4%

      International


      3.2%


      2.5%


      1.4%


      2.1%



















      (1)Hepatitis C includes OLYSIO ® /SOVRIAD ® and INCIVO ®




      (2)Operational growth excludes the effect of translational currency




      Johnson & Johnson and Subsidiaries









      Reconciliation of Non-GAAP Financial Measure


















      Operational Sales Growth Excluding Acquisitions, Divestitures and Hepatitis C (1)

      SIX MONTHS 2015 ACTUAL vs. 2014 ACTUAL











      Segments












      Consumer


      Pharmaceutical


      Medical Devices


      Total



      Operational % (2)

      WW As Reported:


      2.8%


      5.3%


      (4.6)%


      1.1%

      U.S.


      3.2%


      6.7%


      (6.0)%


      1.5%

      International


      2.6%


      3.8%


      (3.5)%


      0.6%










      Women’s Health









      K-Y ®


      0.5






      0.1

      U.S.


      0.8






      0.1

      International


      0.3






      0.1










      Wound Care / Other









      BENECOL ®


      0.7






      0.1

      U.S.


      0.0






      0.0

      International


      1.1






      0.3










      Diagnostics









      Ortho-Clinical Diagnostics






      6.0


      2.3

      U.S.






      7.3


      2.8

      International






      4.9


      2.0










      Other Neuroscience









      NUCYNTA ®




      0.3




      0.1

      U.S.




      0.6




      0.2

      International




      0.0




      0.0










      All Other Acquisitions and Divestitures


      (0.1)






      0.0

      U.S.


      0.0






      0.0

      International


      (0.2)






      (0.1)










      WW Ops excluding Acquisitions and Divestitures


      3.9%


      5.6%


      1.4%


      3.7%

      U.S.


      4.0%


      7.3%


      1.3%


      4.6%

      International


      3.8%


      3.8%


      1.4%


      2.9%










      Hepatitis C




      5.7




      2.2

      U.S.




      12.8




      5.4

      International




      (1.2)




      (0.5)










      WW Ops excluding Acquisitions, Divestitures and Hepatitis C


      3.9%


      11.3%


      1.4%


      5.9%

      U.S.


      4.0%


      20.1%


      1.3%


      10.0%

      International


      3.8%


      2.6%


      1.4%


      2.4%



















      (1)Hepatitis C includes OLYSIO ® /SOVRIAD ® and INCIVO ®



      (2)Operational growth excludes the effect of translational currency



      REPORTED SALES vs. PRIOR PERIOD ($MM)


      SECOND QUARTER



      SIX MONTHS






      % Change







      % Change



      2015


      2014

      Reported

      Operational (1)

      Currency




      2015


      2014

      Reported

      Operational (1)

      Currency

      CONSUMER SEGMENT (2)

















      BABY CARE

















      US


      $ 104


      107

      -2.8%

      -2.8%

      -




      $ 215


      209

      2.9%

      2.9%

      -

      Intl


      439


      500

      -12.2%

      -1.0%

      -11.2%




      839


      943

      -11.0%

      -0.9%

      -10.1%

      WW


      543


      607

      -10.5%

      -1.2%

      -9.3%




      1,054


      1,152

      -8.5%

      -0.2%

      -8.3%

      ORAL CARE

















      US


      147


      142

      3.5%

      3.5%

      -




      305


      302

      1.0%

      1.0%

      -

      Intl


      244


      271

      -10.0%

      5.0%

      -15.0%




      489


      522

      -6.3%

      6.9%

      -13.2%

      WW


      391


      413

      -5.3%

      4.5%

      -9.8%




      794


      824

      -3.6%

      4.7%

      -8.3%

      OTC

















      US


      366


      316

      15.8%

      15.8%

      -




      771


      682

      13.0%

      13.0%

      -

      Intl


      608


      687

      -11.5%

      4.7%

      -16.2%




      1,196


      1,332

      -10.2%

      6.8%

      -17.0%

      WW


      974


      1,003

      -2.9%

      8.2%

      -11.1%




      1,967


      2,014

      -2.3%

      9.0%

      -11.3%

      SKIN CARE

















      US


      491


      506

      -3.0%

      -3.0%

      -




      983


      963

      2.1%

      2.1%

      -

      Intl


      403


      462

      -12.8%

      1.2%

      -14.0%




      814


      919

      -11.4%

      1.4%

      -12.8%

      WW


      894


      968

      -7.6%

      -0.9%

      -6.7%




      1,797


      1,882

      -4.5%

      1.8%

      -6.3%

      WOMEN’S HEALTH

















      US


      7


      11

      -36.4%

      -36.4%

      -




      13


      35

      -62.9%

      -62.9%

      -

      Intl


      313


      331

      -5.4%

      11.4%

      -16.8%




      594


      634

      -6.3%

      8.6%

      -14.9%

      WW


      320


      342

      -6.4%

      9.9%

      -16.3%




      607


      669

      -9.3%

      4.8%

      -14.1%

      WOUND CARE / OTHER

















      US


      240


      238

      0.8%

      0.8%

      -




      427


      438

      -2.5%

      -2.5%

      -

      Intl


      121


      173

      -30.1%

      -19.2%

      -10.9%




      227


      322

      -29.5%

      -19.4%

      -10.1%

      WW


      361


      411

      -12.2%

      -7.6%

      -4.6%




      654


      760

      -13.9%

      -9.6%

      -4.3%


















      TOTAL CONSUMER

















      US


      1,355


      1,320

      2.7%

      2.7%

      -




      2,714


      2,629

      3.2%

      3.2%

      -

      Intl


      2,128


      2,424

      -12.2%

      2.1%

      -14.3%




      4,159


      4,672

      -11.0%

      2.6%

      -13.6%

      WW


      $ 3,483


      3,744

      -7.0%

      2.3%

      -9.3%




      $ 6,873


      7,301

      -5.9%

      2.8%

      -8.7%



































      See footnotes at end of schedule














      REPORTED SALES vs. PRIOR PERIOD ($MM)


      SECOND QUARTER



      SIX MONTHS






      % Change







      % Change



      2015


      2014

      Reported

      Operational (1)

      Currency




      2015


      2014

      Reported

      Operational (1)

      Currency

      PHARMACEUTICAL SEGMENT (2) (3)

















      IMMUNOLOGY

















      US


      $ 1,876


      1,853

      1.2%

      1.2%

      -




      $ 3,631


      3,400

      6.8%

      6.8%

      -

      Intl


      678


      778

      -12.9%

      3.4%

      -16.3%




      1,386


      1,574

      -11.9%

      3.4%

      -15.3%

      WW


      2,554


      2,631

      -2.9%

      1.9%

      -4.8%




      5,017


      4,974

      0.9%

      5.7%

      -4.8%

      REMICADE

















      US


      1,088


      1,021

      6.6%

      6.6%

      -




      2,143


      2,018

      6.2%

      6.2%

      -

      US Exports (4)


      241


      357

      -32.5%

      -32.5%

      -




      422


      524

      -19.5%

      -19.5%

      -

      Intl


      339


      426

      -20.4%

      -6.6%

      -13.8%




      703


      872

      -19.4%

      -6.4%

      -13.0%

      WW


      1,668


      1,804

      -7.5%

      -4.2%

      -3.3%




      3,268


      3,414

      -4.3%

      -1.0%

      -3.3%

      SIMPONI / SIMPONI ARIA

















      US


      172


      132

      30.3%

      30.3%

      -




      327


      236

      38.6%

      38.6%

      -

      Intl


      136


      150

      -9.3%

      9.2%

      -18.5%




      281


      305

      -7.9%

      9.5%

      -17.4%

      WW


      308


      282

      9.2%

      19.1%

      -9.9%




      608


      541

      12.4%

      22.2%

      -9.8%

      STELARA

















      US


      375


      343

      9.3%

      9.3%

      -




      739


      622

      18.8%

      18.8%

      -

      Intl


      195


      185

      5.4%

      26.5%

      -21.1%




      380


      362

      5.0%

      24.6%

      -19.6%

      WW


      570


      528

      8.0%

      15.4%

      -7.4%




      1,119


      984

      13.7%

      20.9%

      -7.2%

      OTHER IMMUNOLOGY

















      US


      -


      -

      -

      -

      -




      -


      -

      -

      -

      -

      Intl


      8


      17

      -52.9%

      -44.7%

      -8.2%




      22


      35

      -37.1%

      -28.7%

      -8.4%

      WW


      8


      17

      -52.9%

      -44.7%

      -8.2%




      22


      35

      -37.1%

      -28.7%

      -8.4%

      INFECTIOUS DISEASES

















      US


      381


      1,020

      -62.6%

      -62.6%

      -




      793


      1,581

      -49.8%

      -49.8%

      -

      Intl


      651


      742

      -12.3%

      7.2%

      -19.5%




      1,214


      1,381

      -12.1%

      5.9%

      -18.0%

      WW


      1,032


      1,762

      -41.4%

      -33.2%

      -8.2%




      2,007


      2,962

      -32.2%

      -23.8%

      -8.4%

      EDURANT

















      US


      9


      6

      50.0%

      50.0%

      -




      18


      11

      63.6%

      63.6%

      -

      Intl


      92


      86

      7.0%

      32.1%

      -25.1%




      174


      162

      7.4%

      31.4%

      -24.0%

      WW


      101


      92

      9.8%

      33.2%

      -23.4%




      192


      173

      11.0%

      33.4%

      -22.4%

      OLYSIO / SOVRIAD

















      US


      50


      725

      -93.1%

      -93.1%

      -




      148


      1,016

      -85.4%

      -85.4%

      -

      Intl


      214


      106

      *

      *

      **




      350


      169

      *

      *

      **

      WW


      264


      831

      -68.2%

      -62.5%

      -5.7%




      498


      1,185

      -58.0%

      -51.7%

      -6.3%

      PREZISTA / PREZCOBIX

















      US


      258


      239

      7.9%

      7.9%

      -




      492


      453

      8.6%

      8.6%

      -

      Intl


      190


      253

      -24.9%

      -7.7%

      -17.2%




      383


      484

      -20.9%

      -4.8%

      -16.1%

      WW


      448


      492

      -8.9%

      -0.1%

      -8.8%




      875


      937

      -6.6%

      1.7%

      -8.3%

      OTHER INFECTIOUS DISEASES

















      US


      64


      50

      28.0%

      28.0%

      -




      135


      101

      33.7%

      33.7%

      -

      Intl


      155


      297

      -47.8%

      -36.9%

      -10.9%




      307


      566

      -45.8%

      -35.8%

      -10.0%

      WW


      219


      347

      -36.9%

      -27.5%

      -9.4%




      442


      667

      -33.7%

      -25.2%

      -8.5%



















      REPORTED SALES vs. PRIOR PERIOD ($MM)


      SECOND QUARTER



      SIX MONTHS






      % Change







      % Change



      2015


      2014

      Reported

      Operational (1)

      Currency




      2015


      2014

      Reported

      Operational (1)

      Currency


















      NEUROSCIENCE

















      US


      693


      600

      15.5%

      15.5%

      -




      1,443


      1,201

      20.1%

      20.1%

      -

      Intl


      871


      1,027

      -15.2%

      -0.2%

      -15.0%




      1,739


      2,064

      -15.7%

      -1.7%

      -14.0%

      WW


      1,564


      1,627

      -3.9%

      5.6%

      -9.5%




      3,182


      3,265

      -2.5%

      6.4%

      -8.9%

      CONCERTA / METHYLPHENIDATE

















      US


      102


      28

      *

      *

      -




      228


      63

      *

      *

      -

      Intl


      104


      117

      -11.1%

      2.7%

      -13.8%




      202


      232

      -12.9%

      -0.3%

      -12.6%

      WW


      206


      145

      42.1%

      53.3%

      -11.2%




      430


      295

      45.8%

      55.7%

      -9.9%

      INVEGA

















      US


      105


      89

      18.0%

      18.0%

      -




      199


      175

      13.7%

      13.7%

      -

      Intl


      61


      69

      -11.6%

      3.7%

      -15.3%




      122


      148

      -17.6%

      -2.9%

      -14.7%

      WW


      166


      158

      5.1%

      11.8%

      -6.7%




      321


      323

      -0.6%

      6.1%

      -6.7%

      INVEGA SUSTENNA / XEPLION

















      US


      253


      202

      25.2%

      25.2%

      -




      481


      384

      25.3%

      25.3%

      -

      Intl


      183


      192

      -4.7%

      14.6%

      -19.3%




      366


      383

      -4.4%

      13.6%

      -18.0%

      WW


      436


      394

      10.7%

      20.1%

      -9.4%




      847


      767

      10.4%

      19.4%

      -9.0%

      RISPERDAL CONSTA

















      US


      99


      110

      -10.0%

      -10.0%

      -




      203


      216

      -6.0%

      -6.0%

      -

      Intl


      148


      192

      -22.9%

      -6.5%

      -16.4%




      298


      396

      -24.7%

      -9.8%

      -14.9%

      WW


      247


      302

      -18.2%

      -7.8%

      -10.4%




      501


      612

      -18.1%

      -8.5%

      -9.6%

      OTHER NEUROSCIENCE

















      US


      134


      171

      -21.6%

      -21.6%

      -




      332


      363

      -8.5%

      -8.5%

      -

      Intl


      375


      457

      -17.9%

      -5.1%

      -12.8%




      751


      905

      -17.0%

      -4.8%

      -12.2%

      WW


      509


      628

      -18.9%

      -9.6%

      -9.3%




      1,083


      1,268

      -14.6%

      -5.9%

      -8.7%

      ONCOLOGY

















      US


      362


      278

      30.2%

      30.2%

      -




      696


      518

      34.4%

      34.4%

      -

      Intl


      782


      833

      -6.1%

      12.8%

      -18.9%




      1,556


      1,615

      -3.7%

      14.1%

      -17.8%

      WW


      1,144


      1,111

      3.0%

      17.2%

      -14.2%




      2,252


      2,133

      5.6%

      19.1%

      -13.5%

      IMBRUVICA

















      US


      89


      33

      *

      *

      -




      155


      39

      *

      *

      -

      Intl


      65


      9

      *

      *

      **




      115


      13

      *

      *

      **

      WW


      154


      42

      *

      *

      **




      270


      52

      *

      *

      **

      VELCADE

















      US


      -


      -

      -

      -

      -




      -


      -

      -

      -

      -

      Intl


      344


      403

      -14.6%

      1.1%

      -15.7%




      683


      811

      -15.8%

      -1.5%

      -14.3%

      WW


      344


      403

      -14.6%

      1.1%

      -15.7%




      683


      811

      -15.8%

      -1.5%

      -14.3%

      ZYTIGA

















      US


      255


      235

      8.5%

      8.5%

      -




      508


      464

      9.5%

      9.5%

      -

      Intl


      291


      327

      -11.0%

      8.6%

      -19.6%




      594


      610

      -2.6%

      16.8%

      -19.4%

      WW


      546


      562

      -2.8%

      8.6%

      -11.4%




      1,102


      1,074

      2.6%

      13.6%

      -11.0%

      OTHER ONCOLOGY

















      US


      18


      10

      80.0%

      80.0%

      -




      33


      15

      *

      *

      -

      Intl


      82


      94

      -12.8%

      5.3%

      -18.1%




      164


      181

      -9.4%

      7.6%

      -17.0%

      WW


      100


      104

      -3.8%

      12.5%

      -16.3%




      197


      196

      0.5%

      16.1%

      -15.6%



















      REPORTED SALES vs. PRIOR PERIOD ($MM)


      SECOND QUARTER



      SIX MONTHS






      % Change







      % Change



      2015


      2014

      Reported

      Operational (1)

      Currency




      2015


      2014

      Reported

      Operational (1)

      Currency

      CARDIOVASCULAR / METABOLISM / OTHER (5)

















      US


      1,231


      862

      42.8%

      42.8%

      -




      2,351


      1,653

      42.2%

      42.2%

      -

      Intl


      421


      516

      -18.4%

      -6.6%

      -11.8%




      863


      1,020

      -15.4%

      -3.7%

      -11.7%

      WW


      1,652


      1,378

      19.9%

      24.3%

      -4.4%




      3,214


      2,673

      20.2%

      24.6%

      -4.4%

      XARELTO

















      US


      472


      361

      30.7%

      30.7%

      -




      913


      680

      34.3%

      34.3%

      -

      Intl


      -


      -

      -

      -

      -




      -


      -

      -

      -

      -

      WW


      472


      361

      30.7%

      30.7%

      -




      913


      680

      34.3%

      34.3%

      -

      INVOKANA / INVOKAMET

















      US


      302


      114

      *

      *

      -




      568


      207

      *

      *

      -

      Intl


      16


      3

      *

      *

      **




      28


      4

      *

      *

      **

      WW


      318


      117

      *

      *

      **




      596


      211

      *

      *

      **

      PROCRIT / EPREX

















      US


      179


      178

      0.6%

      0.6%

      -




      342


      354

      -3.4%

      -3.4%

      -

      Intl


      97


      141

      -31.2%

      -18.7%

      -12.5%




      203


      275

      -26.2%

      -13.3%

      -12.9%

      WW


      276


      319

      -13.5%

      -8.0%

      -5.5%




      545


      629

      -13.4%

      -7.7%

      -5.7%

      OTHER

















      US


      278


      209

      33.0%

      33.0%

      -




      528


      412

      28.2%

      28.2%

      -

      Intl


      308


      372

      -17.2%

      -6.3%

      -10.9%




      632


      741

      -14.7%

      -4.0%

      -10.7%

      WW


      586


      581

      0.9%

      7.9%

      -7.0%




      1,160


      1,153

      0.6%

      7.5%

      -6.9%


















      TOTAL PHARMACEUTICAL

















      US


      4,543


      4,613

      -1.5%

      -1.5%

      -




      8,914


      8,353

      6.7%

      6.7%

      -

      Intl


      3,403


      3,896

      -12.7%

      3.8%

      -16.5%




      6,758


      7,654

      -11.7%

      3.8%

      -15.5%

      WW


      $ 7,946


      8,509

      -6.6%

      1.0%

      -7.6%




      $ 15,672


      16,007

      -2.1%

      5.3%

      -7.4%




















































      See footnotes at end of schedule


















      REPORTED SALES vs. PRIOR PERIOD ($MM)


      SECOND QUARTER



      SIX MONTHS






      % Change







      % Change



      2015


      2014

      Reported

      Operational (1)

      Currency




      2015


      2014

      Reported

      Operational (1)

      Currency

      MEDICAL DEVICES (2)

















      CARDIOVASCULAR CARE

















      US


      $ 235


      214

      9.8%

      9.8%

      -




      $ 463


      419

      10.5%

      10.5%

      -

      Intl


      309


      353

      -12.5%

      1.7%

      -14.2%




      610


      689

      -11.5%

      2.5%

      -14.0%

      WW


      544


      567

      -4.1%

      4.7%

      -8.8%




      1,073


      1,108

      -3.2%

      5.5%

      -8.7%

      DIABETES CARE

















      US


      214


      222

      -3.6%

      -3.6%

      -




      426


      414

      2.9%

      2.9%

      -

      Intl


      280


      336

      -16.7%

      -1.2%

      -15.5%




      552


      656

      -15.9%

      -0.3%

      -15.6%

      WW


      494


      558

      -11.5%

      -2.1%

      -9.4%




      978


      1,070

      -8.6%

      0.9%

      -9.5%

      DIAGNOSTICS (6)

















      US


      -


      232

      **

      **

      -




      -


      456

      **

      **

      -

      Intl


      16


      229

      -93.0%

      -90.1%

      -2.9%




      46


      448

      -89.7%

      -86.8%

      -2.9%

      WW


      16


      461

      -96.5%

      -95.0%

      -1.5%




      46


      904

      -94.9%

      -93.5%

      -1.4%

      ORTHOPAEDICS

















      US


      1,321


      1,294

      2.1%

      2.1%

      -




      2,630


      2,586

      1.7%

      1.7%

      -

      Intl


      1,009


      1,175

      -14.1%

      -0.4%

      -13.7%




      2,028


      2,304

      -12.0%

      1.2%

      -13.2%

      WW


      2,330


      2,469

      -5.6%

      0.9%

      -6.5%




      4,658


      4,890

      -4.7%

      1.5%

      -6.2%

      SPECIALTY SURGERY / OTHER

















      US


      438


      424

      3.3%

      3.3%

      -




      855


      841

      1.7%

      1.7%

      -

      Intl


      441


      481

      -8.3%

      5.6%

      -13.9%




      857


      938

      -8.6%

      4.6%

      -13.2%

      WW


      879


      905

      -2.9%

      4.5%

      -7.4%




      1,712


      1,779

      -3.8%

      3.2%

      -7.0%

      SURGICAL CARE

















      US


      562


      551

      2.0%

      2.0%

      -




      1,105


      1,090

      1.4%

      1.4%

      -

      Intl


      887


      1,024

      -13.4%

      0.0%

      -13.4%




      1,767


      1,993

      -11.3%

      1.5%

      -12.8%

      WW


      1,449


      1,575

      -8.0%

      0.7%

      -8.7%




      2,872


      3,083

      -6.8%

      1.5%

      -8.3%

      VISION CARE

















      US


      243


      262

      -7.3%

      -7.3%

      -




      496


      548

      -9.5%

      -9.5%

      -

      Intl


      403


      445

      -9.4%

      6.0%

      -15.4%




      781


      920

      -15.1%

      -1.0%

      -14.1%

      WW


      646


      707

      -8.6%

      1.1%

      -9.7%




      1,277


      1,468

      -13.0%

      -4.1%

      -8.9%


















      TOTAL MEDICAL DEVICES

















      US


      3,013


      3,199

      -5.8%

      -5.8%

      -




      5,975


      6,354

      -6.0%

      -6.0%

      -

      Intl


      3,345


      4,043

      -17.3%

      -3.9%

      -13.4%




      6,641


      7,948

      -16.4%

      -3.5%

      -12.9%

      WW


      $ 6,358


      7,242

      -12.2%

      -4.7%

      -7.5%




      $ 12,616


      14,302

      -11.8%

      -4.6%

      -7.2%


















      * Percentage greater than 100%
















      ** Not meaningful

















      (1) Operational growth excludes the effect of translational currency












      (2) Unaudited

















      (3) Prior year amounts have been reclassified to conform to current year product disclosure










      (4) Reported as U.S. sales

















      (5) Previously referred to as Other















      (6) Reflects Diagnostics divestiture June 30, 2014















      SOURCE Johnson & Johnson

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