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Johnson & Johnson Reports 2015 Third-Quarter Results:

Sales of $17.1 Billion Decreased 7.4% Versus 2014 Third Quarter

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NEW BRUNSWICK, N.J., Oct. 13, 2015 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced sales of $17.1 billion for the third quarter of 2015, a decrease of 7.4% as compared to the third quarter of 2014. Operational sales results increased 0.8% and the negative impact of currency was 8.2%. Domestic sales decreased 0.6%. International sales decreased 13.7%, reflecting operational growth of 2.1% and a negative currency impact of 15.8%. Excluding the net impact of acquisitions, divestitures and hepatitis C sales, on an operational basis, worldwide sales increased 5.6%, domestic sales increased 7.7% and international sales increased 3.8%.* Earlier today, the Company also announced its Board of Directors has approved the repurchase of up to $10 billion of the company’s common stock.

Net earnings and diluted earnings per share for the third quarter of 2015 were $3.4 billion and $1.20, respectively. Third quarter 2015 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. Third quarter 2014 net earnings included after-tax intangible amortization expense of approximately $0.3 billion and a net gain 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 $4.2 billion and adjusted diluted earnings per share were $1.49, representing decreases of 9.4% and 7.5%, respectively, as compared to the same period in 2014.* On an operational basis, adjusted diluted earnings per share increased 1.2%.*

“New and core products drove solid underlying growth for Johnson & Johnson in the quarter,” said Alex Gorsky, Chairman and Chief Executive Officer. “Consistent with the plans we’ve laid out for the year, we’re focusing our portfolio and are advancing our innovation agenda to expand our leadership position in key categories while seeking new opportunities for growth. Our dedicated employees are committed to improving healthcare and making a difference in the lives of patients and consumers worldwide.”

The Company increased its adjusted earnings guidance for full-year 2015 to $6.15 - $6.20 per share. The Company’s guidance excludes the impact of after-tax intangible amortization expense and special items.

Worldwide Consumer sales of $3.3 billion for the third quarter represented a decrease of 7.7% versus the prior year, consisting of an operational increase of 3.1% and a negative impact from currency of 10.8%. Domestic sales increased 8.9%; international sales decreased 15.7%, which reflected an operational increase of 0.4% and a negative currency impact of 16.1%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 4.0%, domestic sales increased 8.9% and international sales increased 1.5%.*

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

During the quarter, the divestiture of the SPLENDA® low calorie sweetener brand to Heartland Food Products Group was completed. This completes the divestiture of products within the nutritionals business.

Worldwide Pharmaceutical sales of $7.7 billion for the third quarter represented a decrease of 7.4% versus the prior year with an operational decrease of 0.3% and a negative impact from currency of 7.1%. Domestic sales decreased 4.5%; international sales decreased 11.1%, which reflected an operational increase of 5.5% and a negative currency impact of 16.6%. Excluding the net impact of acquisitions, divestitures and hepatitis C sales, on an operational basis, worldwide sales increased 10.1%, domestic sales increased 11.5% and international sales increased 8.5%.*

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®/SOVRIAD® (simeprevir) due to competitive entrants. Strong growth in new products include INVOKANA®/INVOKAMET® (canagliflozin), for the treatment of adults with type 2 diabetes; 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 SIMPONI®/SIMPONI ARIA® (golimumab), biologics approved for the treatment of a number of immune-mediated inflammatory diseases; 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; CONCERTA® (methylphenidate HCI), for the treatment of attention deficit hyperactivity disorder; and PREZCOBIX®/REZOLSTA® (darunavir/cobicistat) for the treatment of human immunodeficiency virus (HIV-1).

During the quarter, the U.S. Food and Drug Administration (FDA) granted Priority Review for the Biologic License Application for daratumumab for the treatment of double refractory multiple myeloma. Additionally, the FDA approved EDURANT® (rilpirivine), in combination with other anti-retroviral agents, for treatment-naïve adolescent patients aged 12 to 18 years with human immunodeficiency virus-1 (HIV-1) infection, as well as an update to the SIMPONI ARIA® (golimumab for infusion) label to include improvement in both physical and emotional measures of health when treating moderately to severely active rheumatoid arthritis. In the U.S., a supplemental new drug application was submitted to the FDA for IMBRUVICA® (ibrutinib) for use in treatment-naïve patients with chronic lymphocytic leukemia. In addition, Marketing Authorization Applications were submitted to the European Medicines Agency for paliperidone palmitate once-every-three-months formulation for the treatment of schizophrenia and daratumumab for the treatment of patients with relapsed and refractory multiple myeloma. The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency has granted an accelerated assessment of the daratumumab Marketing Authorization Application.

Worldwide Medical Devices sales of $6.1 billion for the third quarter represented a decrease of 7.3% versus the prior year consisting of an operational increase of 0.9% and a negative currency impact of 8.2%. Domestic sales increased 2.0%; international sales decreased 14.8%, which reflected an operational increase of 0.1% and a negative currency impact of 14.9%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.3%, domestic sales increased 2.0% and international sales increased 0.8%.*

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

In October, subsequent to the third quarter, the Company announced the completion of the divestiture of its Cordis business to Cardinal Health 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 128,000 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; market conditions and the possibility that the share repurchase program may be suspended or discontinued; 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)

THIRD QUARTER


NINE 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.

$ 1,277


1,173


8.9

%

8.9


-


$ 3,991


3,802


5.0

%

5.0


-

International

2,037


2,416


(15.7)


0.4


(16.1)


6,196


7,088


(12.6)


1.9


(14.5)


3,314


3,589


(7.7)


3.1


(10.8)


10,187


10,890


(6.5)


2.9


(9.4)





















Pharmaceutical




















U.S.

4,509


4,723


(4.5)


(4.5)


-


13,423


13,076


2.7


2.7


-

International

3,185


3,584


(11.1)


5.5


(16.6)


9,943


11,238


(11.5)


4.3


(15.8)


7,694


8,307


(7.4)


(0.3)


(7.1)


23,366


24,314


(3.9)


3.4


(7.3)





















Medical Devices




















U.S.

3,005


2,946


2.0


2.0


-


8,980


9,300


(3.4)


(3.4)


-

International

3,089


3,625


(14.8)


0.1


(14.9)


9,730


11,573


(15.9)


(2.4)


(13.5)


6,094


6,571


(7.3)


0.9


(8.2)


18,710


20,873


(10.4)


(2.9)


(7.5)





















U.S.

8,791


8,842


(0.6)


(0.6)


-


26,394


26,178


0.8


0.8


-

International

8,311


9,625


(13.7)


2.1


(15.8)


25,869


29,899


(13.5)


1.1


(14.6)

Worldwide

$ 17,102


18,467


(7.4)

%

0.8


(8.2)


$ 52,263


56,077


(6.8)

%

1.0


(7.8)





















Johnson & Johnson and Subsidiaries



















Supplementary Sales Data








































(Unaudited; Dollars in Millions)

THIRD QUARTER


NINE MONTHS






Percent Change






Percent Change


2015


2014


Total


Operations

Currency


2015


2014


Total


Operations

Currency

Sales to customers by




















geographic area








































U.S.

$ 8,791


8,842


(0.6)

%

(0.6)


-


$ 26,394


26,178


0.8

%

0.8


-





















Europe

3,802


4,446


(14.5)


2.7


(17.2)


11,993


14,387


(16.6)


1.3


(17.9)

Western Hemisphere excluding U.S.

1,463


1,820


(19.6)


2.7


(22.3)


4,603


5,378


(14.4)


2.6


(17.0)

Asia-Pacific, Africa

3,046


3,359


(9.3)


1.2


(10.5)


9,273


10,134


(8.5)


0.1


(8.6)

International

8,311


9,625


(13.7)


2.1


(15.8)


25,869


29,899


(13.5)


1.1


(14.6)





















Worldwide

$ 17,102


18,467


(7.4)

%

0.8


(8.2)


$ 52,263


56,077


(6.8)

%

1.0


(7.8)





















Johnson & Johnson and Subsidiaries











Condensed Consolidated Statement of Earnings






















(Unaudited; in Millions Except Per Share Figures)

THIRD QUARTER














2015


2014


Percent





Percent




Percent


Increase



Amount


to Sales


Amount


to Sales


(Decrease)


Sales to customers

$ 17,102


100.0


$ 18,467


100.0


(7.4)


Cost of products sold

5,224


30.5


5,399


29.2


(3.2)


Selling, marketing and administrative expenses

5,081


29.7


5,468


29.6


(7.1)


Research and development expense

2,154


12.6


2,023


11.0


6.5


In-process research and development

10


0.1


-


-




Interest (income) expense, net

91


0.5


112


0.6




Other (income) expense, net

420


2.5


(1,345)


(7.3)




Earnings before provision for taxes on income

4,122


24.1


6,810


36.9


(39.5)


Provision for taxes on income

764


4.5


2,061


11.2


(62.9)


Net earnings

$ 3,358


19.6


$ 4,749


25.7


(29.3)













Net earnings per share (Diluted)

$ 1.20




$ 1.66




(27.7)













Average shares outstanding (Diluted)

2,807.2




2,864.3

















Effective tax rate

18.5

%



30.3

%
















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











Earnings before provision for taxes on income

$ 5,212


30.5


$ 6,077


32.9


(14.2)


Net earnings

$ 4,172


24.4


$ 4,605


24.9


(9.4)


Net earnings per share (Diluted)

$ 1.49




$ 1.61




(7.5)


Effective tax rate

20.0

%



24.2

%
















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






















Johnson & Johnson and Subsidiaries










Condensed Consolidated Statement of Earnings




















(Unaudited; in Millions Except Per Share Figures)

NINE MONTHS












2015


2014


Percent




Percent




Percent


Increase


Amount


to Sales


Amount


to Sales


(Decrease)

Sales to customers

$ 52,263


100.0


$ 56,077


100.0


(6.8)

Cost of products sold

15,863


30.4


16,893


30.1


(6.1)

Selling, marketing and administrative expenses

15,312


29.3


16,132


28.8


(5.1)

Research and development expense

6,182


11.8


5,859


10.5


5.5

In-process research and development

10


0.0


22


0.0



Interest (income) expense, net

317


0.6


344


0.6



Other (income) expense, net

(859)


(1.6)


(1,033)


(1.8)



Earnings before provision for taxes on income

15,438


29.5


17,860


31.8


(13.6)

Provision for taxes on income

3,244


6.2


4,058


7.2


(20.1)

Net earnings

$ 12,194


23.3


$ 13,802


24.6


(11.7)











Net earnings per share (Diluted)

$ 4.33




$ 4.81




(10.0)











Average shares outstanding (Diluted)

2,817.1




2,871.2















Effective tax rate

21.0

%



22.7

%














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










Earnings before provision for taxes on income

$ 17,090


32.7


$ 18,529


33.0


(7.8)

Net earnings

$ 13,402


25.6


$ 14,431


25.7


(7.1)

Net earnings per share (Diluted)

$ 4.76




$ 5.02




(5.2)

Effective tax rate

21.6

%



22.1

%














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




















Johnson & Johnson and Subsidiaries














Reconciliation of Non-GAAP Financial Measures





























Third Quarter


% Incr. /



Nine 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

$ 4,122


6,810


(39.5)

%


$ 15,438


17,860


(13.6)

%















Intangible asset amortization expense

639


417





1,269


1,259


















Ortho-Clinical Diagnostics divestiture net gain

-


(1,948)





(29)


(1,948)


















Litigation expense, net

409


285





141


561


















Additional year of Branded Prescription Drug Fee

-


220





-


220


















Synthes integration costs

32


167





113


429


















In-process research and development

10


-





10


22


















DePuy ASRTMHip program

-


126





148


126


















Earnings before provision for taxes on income - as adjusted

$ 5,212


6,077


(14.2)

%


$ 17,090


18,529


(7.8)

%















Net Earnings - as reported

$ 3,358


4,749


(29.3)

%


$ 12,194


13,802


(11.7)

%















Intangible asset amortization expense

437


313





893


938


















Ortho-Clinical Diagnostics divestiture net gain

-


(1,149)





(24)


(1,149)


















Litigation expense, net

348


231





118


573

(1)

















Additional year of Branded Prescription Drug Fee

-


220





-


220


















Synthes integration costs

23


130





85


318


















In-process research and development

6


-





6


16


















DePuy ASRTMHip program

-


111





130


111


















Tax benefit associated with Conor Medsystems

-


-





-


(398)


















Net Earnings - as adjusted

$ 4,172


4,605


(9.4)

%


$ 13,402


14,431


(7.1)

%















Diluted Net Earnings per share - as reported

$ 1.20


1.66


(27.7)

%


$ 4.33


4.81


(10.0)

%















Intangible asset amortization expense

0.16


0.11





0.32


0.32


















Ortho-Clinical Diagnostics divestiture net gain

-


(0.40)





(0.01)


(0.40)


















Litigation expense, net

0.12


0.08





0.04


0.19


















Additional year of Branded Prescription Drug Fee

-


0.08





-


0.08


















Synthes integration costs

0.01


0.04





0.03


0.11


















In-process research and development

-


-





-


0.01


















DePuy ASRTMHip program

-


0.04





0.05


0.04


















Tax benefit associated with Conor Medsystems

-


-





-


(0.14)


















Diluted Net Earnings per share - as adjusted

$ 1.49


1.61


(7.5)

%


$ 4.76


5.02


(5.2)

%















Operational Diluted Net Earnings per share - as adjusted*

$ 1.63


1.61


1.2

%


$ 5.22


5.02


4.0

%















*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 Sales(1)

THIRD QUARTER 2015 ACTUAL vs. 2014 ACTUAL










Segments












Consumer


Pharmaceutical


Medical Devices


Total



Operational % (2)

WW As Reported:


3.1%


(0.3)%


0.9%


0.8%

U.S.


8.9%


(4.5)%


2.0%


(0.6)%

International


0.4%


5.5%


0.1%


2.1%










Wound Care / Other









BENECOL ®


0.8






0.1

U.S.


0.0






0.0

International


1.0






0.2










Diagnostics









Ortho-Clinical Diagnostics






0.3


0.1

U.S.






0.0


0.0

International






0.5


0.2










Other Neuroscience









NUCYNTA ®




0.4




0.2

U.S.




0.6




0.4

International




0.0




0.0










All Other Acquisitions and Divestitures


0.1




0.1


0.1

U.S.


0.0




0.0


0.0

International


0.1




0.2


0.1










WW Ops excluding Acquisitions and Divestitures


4.0%


0.1%


1.3%


1.3%

U.S.


8.9%


(3.9)%


2.0%


(0.2)%

International


1.5%


5.5%


0.8%


2.6%










Hepatitis C




10.0




4.3

U.S.




15.4




7.9

International




3.0




1.2










WW Ops excluding Hepatitis C only




9.7%




5.1%

U.S.




10.9%




7.3%

International




8.5%




3.3%










WW Ops excluding Acquisitions, Divestitures and Hepatitis C


4.0%


10.1%


1.3%


5.6%

U.S.


8.9%


11.5%


2.0%


7.7%

International


1.5%


8.5%


0.8%


3.8%










(1)Hepatitis C products include 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 Sales(1)

NINE MONTHS 2015 ACTUAL vs. 2014 ACTUAL










Segments












Consumer


Pharmaceutical


Medical Devices


Total



Operational % (2)

WW As Reported:


2.9%


3.4%


(2.9)%


1.0%

U.S.


5.0%


2.7%


(3.4)%


0.8%

International


1.9%


4.3%


(2.4)%


1.1%










Women’s Health









K-Y ®


0.3






0.1

U.S.


0.5






0.1

International


0.2






0.1










Wound Care / Other









BENECOL ®


0.8






0.1

U.S.


0.0






0.0

International


1.1






0.3










Diagnostics









Ortho-Clinical Diagnostics






4.2


1.6

U.S.






4.9


1.8

International






3.6


1.4










Other Neuroscience









NUCYNTA ®




0.3




0.1

U.S.




0.5




0.3

International




0.0




0.0










All Other Acquisitions and Divestitures


(0.1)




0.1


0.0

U.S.


0.0




0.0


0.0

International


(0.2)




0.1


0.0










WW Ops excluding Acquisitions and Divestitures


3.9%


3.7%


1.4%


2.9%

U.S.


5.5%


3.2%


1.5%


3.0%

International


3.0%


4.3%


1.3%


2.9%










Hepatitis C




7.3




3.0

U.S.




13.9




6.5

International




0.2




0.0










WW Ops excluding Hepatitis C only




10.7%




4.0%

U.S.




16.6%




7.3%

International




4.5%




1.1%










WW Ops excluding Acquisitions, Divestitures and Hepatitis C


3.9%


11.0%


1.4%


5.9%

U.S.


5.5%


17.1%


1.5%


9.5%

International


3.0%


4.5%


1.3%


2.9%










(1)Hepatitis C products include OLYSIO ® /SOVRIAD ® and INCIVO ® (2)Operational growth excludes the effect of translational currency



























REPORTED SALES vs. PRIOR PERIOD ($MM)


THIRD QUARTER


NINE MONTHS







% Change







% Change



2015


2014

Reported

Operational (1)

Currency



2015


2014

Reported

Operational (1)

Currency

CONSUMER SEGMENT (2)
















BABY CARE
















US


$ 103


102

1.0%

1.0%

-



$ 318


311

2.3%

2.3%

-

Intl


403


461

-12.6%

2.1%

-14.7%



1,242


1,404

-11.5%

0.1%

-11.6%

WW


506


563

-10.1%

2.0%

-12.1%



1,560


1,715

-9.0%

0.5%

-9.5%

ORAL CARE
















US


154


148

4.1%

4.1%

-



459


450

2.0%

2.0%

-

Intl


224


261

-14.2%

3.2%

-17.4%



713


783

-8.9%

5.7%

-14.6%

WW


378


409

-7.6%

3.5%

-11.1%



1,172


1,233

-4.9%

4.4%

-9.3%

OTC
















US


383


313

22.4%

22.4%

-



1,154


995

16.0%

16.0%

-

Intl


580


706

-17.8%

-0.7%

-17.1%



1,776


2,038

-12.9%

4.1%

-17.0%

WW


963


1,019

-5.5%

6.3%

-11.8%



2,930


3,033

-3.4%

8.1%

-11.5%

SKIN CARE
















US


435


400

8.8%

8.8%

-



1,418


1,363

4.0%

4.0%

-

Intl


428


520

-17.7%

-2.3%

-15.4%



1,242


1,439

-13.7%

0.1%

-13.8%

WW


863


920

-6.2%

2.5%

-8.7%



2,660


2,802

-5.1%

2.0%

-7.1%

WOMEN’S HEALTH
















US


6


8

-25.0%

-25.0%

-



19


43

-55.8%

-55.8%

-

Intl


304


317

-4.1%

14.2%

-18.3%



898


951

-5.6%

10.4%

-16.0%

WW


310


325

-4.6%

13.3%

-17.9%



917


994

-7.7%

7.6%

-15.3%

WOUND CARE / OTHER
















US


196


202

-3.0%

-3.0%

-



623


640

-2.7%

-2.7%

-

Intl


98


151

-35.1%

-23.9%

-11.2%



325


473

-31.3%

-20.8%

-10.5%

WW


294


353

-16.7%

-11.9%

-4.8%



948


1,113

-14.8%

-10.3%

-4.5%

















TOTAL CONSUMER
















US


1,277


1,173

8.9%

8.9%

-



3,991


3,802

5.0%

5.0%

-

Intl


2,037


2,416

-15.7%

0.4%

-16.1%



6,196


7,088

-12.6%

1.9%

-14.5%

WW


$ 3,314


3,589

-7.7%

3.1%

-10.8%



$ 10,187


10,890

-6.5%

2.9%

-9.4%


















































REPORTED SALES vs. PRIOR PERIOD ($MM)


THIRD QUARTER


NINE MONTHS






% Change






% Change



2015


2014

Reported

Operational (1)

Currency



2015


2014

Reported

Operational (1)

Currency

PHARMACEUTICAL SEGMENT (2) (3)
















IMMUNOLOGY
















US


$ 1,910


1,895

0.8%

0.8%

-



$ 5,541


5,295

4.6%

4.6%

-

Intl


704


746

-5.6%

13.5%

-19.1%



2,090


2,320

-9.9%

6.6%

-16.5%

WW


2,614


2,641

-1.0%

4.4%

-5.4%



7,631


7,615

0.2%

5.2%

-5.0%

REMICADE
















US


1,117


1,085

2.9%

2.9%

-



3,260


3,103

5.1%

5.1%

-

US Exports (4)


180


310

-41.9%

-41.9%

-



602


834

-27.8%

-27.8%

-

Intl


316


387

-18.3%

-1.6%

-16.7%



1,019


1,259

-19.1%

-5.0%

-14.1%

WW


1,613


1,782

-9.5%

-5.9%

-3.6%



4,881


5,196

-6.1%

-2.7%

-3.4%

SIMPONI / SIMPONI ARIA
















US


199


144

38.2%

38.2%

-



526


380

38.4%

38.4%

-

Intl


181


156

16.0%

40.7%

-24.7%



462


461

0.2%

20.1%

-19.9%

WW


380


300

26.7%

39.6%

-12.9%



988


841

17.5%

28.4%

-10.9%

STELARA
















US


414


356

16.3%

16.3%

-



1,153


978

17.9%

17.9%

-

Intl


199


187

6.4%

26.3%

-19.9%



579


549

5.5%

25.2%

-19.7%

WW


613


543

12.9%

19.7%

-6.8%



1,732


1,527

13.4%

20.5%

-7.1%

OTHER IMMUNOLOGY
















US


-


-

-

-

-



-


-

-

-

-

Intl


8


16

-50.0%

-37.2%

-12.8%



30


51

-41.2%

-31.4%

-9.8%

WW


8


16

-50.0%

-37.2%

-12.8%



30


51

-41.2%

-31.4%

-9.8%

INFECTIOUS DISEASES
















US


379


967

-60.8%

-60.8%

-



1,172


2,548

-54.0%

-54.0%

-

Intl


469


594

-21.0%

-5.7%

-15.3%



1,683


1,975

-14.8%

2.4%

-17.2%

WW


848


1,561

-45.7%

-39.9%

-5.8%



2,855


4,523

-36.9%

-29.4%

-7.5%

EDURANT
















US


11


7

57.1%

57.1%

-



29


18

61.1%

61.1%

-

Intl


100


95

5.3%

25.4%

-20.1%



274


257

6.6%

29.1%

-22.5%

WW


111


102

8.8%

27.6%

-18.8%



303


275

10.2%

31.3%

-21.1%

OLYSIO / SOVRIAD
















US


26


671

-96.1%

-96.1%

-



174


1,687

-89.7%

-89.7%

-

Intl


53


125

-57.6%

-49.5%

-8.1%



403


294

37.1%

66.0%

-28.9%

WW


79


796

-90.1%

-88.8%

-1.3%



577


1,981

-70.9%

-66.6%

-4.3%

PREZISTA / PREZCOBIX / REZOLSTA
















US


285


234

21.8%

21.8%

-



777


687

13.1%

13.1%

-

Intl


183


212

-13.7%

4.3%

-18.0%



566


696

-18.7%

-2.0%

-16.7%

WW


468


446

4.9%

13.4%

-8.5%



1,343


1,383

-2.9%

5.5%

-8.4%

OTHER INFECTIOUS DISEASES
















US


57


55

3.6%

3.6%

-



192


156

23.1%

23.1%

-

Intl


133


162

-17.9%

-3.4%

-14.5%



440


728

-39.6%

-28.6%

-11.0%

WW


190


217

-12.4%

-1.6%

-10.8%



632


884

-28.5%

-19.4%

-9.1%

















See footnotes at end of schedule

















REPORTED SALES vs. PRIOR PERIOD ($MM)


THIRD QUARTER


NINE MONTHS






% Change






% Change



2015


2014

Reported

Operational (1)

Currency



2015


2014

Reported

Operational (1)

Currency

















NEUROSCIENCE
















US


655


606

8.1%

8.1%

-



2,098


1,807

16.1%

16.1%

-

Intl


821


965

-14.9%

0.4%

-15.3%



2,560


3,029

-15.5%

-1.1%

-14.4%

WW


1,476


1,571

-6.0%

3.4%

-9.4%



4,658


4,836

-3.7%

5.3%

-9.0%

CONCERTA / METHYLPHENIDATE
















US


89


34

*

*

-



317


97

*

*

-

Intl


89


101

-11.9%

3.9%

-15.8%



291


333

-12.6%

0.9%

-13.5%

WW


178


135

31.9%

43.7%

-11.8%



608


430

41.4%

51.9%

-10.5%

INVEGA / PALIPERIDONE
















US


82


89

-7.9%

-7.9%

-



281


264

6.4%

6.4%

-

Intl


57


67

-14.9%

-0.4%

-14.5%



179


215

-16.7%

-2.1%

-14.6%

WW


139


156

-10.9%

-4.7%

-6.2%



460


479

-4.0%

2.6%

-6.6%

INVEGA SUSTENNA / XEPLION / INVEGA TRINZA
















US


277


215

28.8%

28.8%

-



758


599

26.5%

26.5%

-

Intl


182


188

-3.2%

14.9%

-18.1%



548


571

-4.0%

14.0%

-18.0%

WW


459


403

13.9%

22.4%

-8.5%



1,306


1,170

11.6%

20.4%

-8.8%

RISPERDAL CONSTA
















US


103


107

-3.7%

-3.7%

-



306


323

-5.3%

-5.3%

-

Intl


132


177

-25.4%

-10.6%

-14.8%



430


573

-25.0%

-10.2%

-14.8%

WW


235


284

-17.3%

-8.1%

-9.2%



736


896

-17.9%

-8.4%

-9.5%

OTHER NEUROSCIENCE
















US


104


161

-35.4%

-35.4%

-



436


524

-16.8%

-16.8%

-

Intl


361


432

-16.4%

-2.0%

-14.4%



1,112


1,337

-16.8%

-3.9%

-12.9%

WW


465


593

-21.6%

-11.2%

-10.4%



1,548


1,861

-16.8%

-7.5%

-9.3%

ONCOLOGY
















US


394


305

29.2%

29.2%

-



1,090


823

32.4%

32.4%

-

Intl


776


807

-3.8%

14.3%

-18.1%



2,332


2,422

-3.7%

14.2%

-17.9%

WW


1,170


1,112

5.2%

18.4%

-13.2%



3,422


3,245

5.5%

18.9%

-13.4%

IMBRUVICA
















US


98


42

*

*

-



253


81

*

*

-

Intl


86


14

*

*

**



201


27

*

*

**

WW


184


56

*

*

**



454


108

*

*

**

VELCADE
















US


-


-

-

-

-



-


-

-

-

-

Intl


329


389

-15.4%

0.1%

-15.5%



1,012


1,200

-15.7%

-1.0%

-14.7%

WW


329


389

-15.4%

0.1%

-15.5%



1,012


1,200

-15.7%

-1.0%

-14.7%

ZYTIGA
















US


276


252

9.5%

9.5%

-



784


716

9.5%

9.5%

-

Intl


272


316

-13.9%

3.4%

-17.3%



866


926

-6.5%

12.2%

-18.7%

WW


548


568

-3.5%

6.1%

-9.6%



1,650


1,642

0.5%

11.0%

-10.5%

OTHER ONCOLOGY
















US


20


11

81.8%

81.8%

-



53


26

*

*

-

Intl


89


88

1.1%

19.3%

-18.2%



253


269

-5.9%

11.5%

-17.4%

WW


109


99

10.1%

26.2%

-16.1%



306


295

3.7%

19.5%

-15.8%

CARDIOVASCULAR / METABOLISM / OTHER (5)
















US


1,171


950

23.3%

23.3%

-



3,522


2,603

35.3%

35.3%

-

Intl


415


472

-12.1%

1.8%

-13.9%



1,278


1,492

-14.3%

-1.9%

-12.4%

WW


1,586


1,422

11.5%

16.1%

-4.6%



4,800


4,095

17.2%

21.7%

-4.5%

XARELTO
















US


461


414

11.4%

11.4%

-



1,374


1,094

25.6%

25.6%

-

Intl


-


-

-

-

-



-


-

-

-

-

WW


461


414

11.4%

11.4%

-



1,374


1,094

25.6%

25.6%

-

INVOKANA / INVOKAMET
















US


322


169

90.5%

90.5%

-



890


376

*

*

-

Intl


18


5

*

*

**



46


9

*

*

**

WW


340


174

95.4%

97.3%

-1.9%



936


385

*

*

**

PROCRIT / EPREX
















US


177


184

-3.8%

-3.8%

-



519


538

-3.5%

-3.5%

-

Intl


86


123

-30.1%

-17.1%

-13.0%



289


398

-27.4%

-14.4%

-13.0%

WW


263


307

-14.3%

-9.1%

-5.2%



808


936

-13.7%

-8.2%

-5.5%

OTHER
















US


211


183

15.3%

15.3%

-



739


595

24.2%

24.2%

-

Intl


311


344

-9.6%

3.8%

-13.4%



943


1,085

-13.1%

-1.5%

-11.6%

WW


522


527

-0.9%

7.9%

-8.8%



1,682


1,680

0.1%

7.6%

-7.5%

















TOTAL PHARMACEUTICAL
















US


4,509


4,723

-4.5%

-4.5%

-



13,423


13,076

2.7%

2.7%

-

Intl


3,185


3,584

-11.1%

5.5%

-16.6%



9,943


11,238

-11.5%

4.3%

-15.8%

WW


$ 7,694


8,307

-7.4%

-0.3%

-7.1%



$ 23,366


24,314

-3.9%

3.4%

-7.3%

















































See footnotes at end of schedule

















































REPORTED SALES vs. PRIOR PERIOD ($MM)


THIRD QUARTER


NINE MONTHS







% Change







% Change



2015


2014

Reported

Operational (1)

Currency



2015


2014

Reported

Operational (1)

Currency

MEDICAL DEVICES (2)
















CARDIOVASCULAR CARE
















US


$ 239


221

8.1%

8.1%

-



$ 702


640

9.7%

9.7%

-

Intl


285


321

-11.2%

3.1%

-14.3%



895


1,010

-11.4%

2.7%

-14.1%

WW


524


542

-3.3%

5.2%

-8.5%



1,597


1,650

-3.2%

5.4%

-8.6%

DIABETES CARE
















US


205


244

-16.0%

-16.0%

-



631


658

-4.1%

-4.1%

-

Intl


265


314

-15.6%

1.1%

-16.7%



817


970

-15.8%

0.1%

-15.9%

WW


470


558

-15.8%

-6.4%

-9.4%



1,448


1,628

-11.1%

-1.6%

-9.5%

DIAGNOSTICS (6)
















US


-


-

-

-

-



-


456

**

**

-

Intl


16


44

-63.6%

-39.8%

-23.8%



62


492

-87.4%

-82.7%

-4.7%

WW


16


44

-63.6%

-39.8%

-23.8%



62


948

-93.5%

-91.0%

-2.5%

ORTHOPAEDICS
















US


1,312


1,272

3.1%

3.1%

-



3,942


3,858

2.2%

2.2%

-

Intl


869


1,072

-18.9%

-5.0%

-13.9%



2,897


3,376

-14.2%

-0.8%

-13.4%

WW


2,181


2,344

-7.0%

-0.7%

-6.3%



6,839


7,234

-5.5%

0.8%

-6.3%

SPECIALTY SURGERY / OTHER
















US


420


413

1.7%

1.7%

-



1,275


1,254

1.7%

1.7%

-

Intl


401


445

-9.9%

5.1%

-15.0%



1,258


1,383

-9.0%

4.8%

-13.8%

WW


821


858

-4.3%

3.5%

-7.8%



2,533


2,637

-3.9%

3.3%

-7.2%

SURGICAL CARE
















US


567


564

0.5%

0.5%

-



1,672


1,654

1.1%

1.1%

-

Intl


832


957

-13.1%

1.1%

-14.2%



2,599


2,950

-11.9%

1.4%

-13.3%

WW


1,399


1,521

-8.0%

0.9%

-8.9%



4,271


4,604

-7.2%

1.3%

-8.5%

VISION CARE
















US


262


232

12.9%

12.9%

-



758


780

-2.8%

-2.8%

-

Intl


421


472

-10.8%

5.8%

-16.6%



1,202


1,392

-13.6%

1.4%

-15.0%

WW


683


704

-3.0%

8.1%

-11.1%



1,960


2,172

-9.8%

-0.2%

-9.6%

















TOTAL MEDICAL DEVICES
















US


3,005


2,946

2.0%

2.0%

-



8,980


9,300

-3.4%

-3.4%

-

Intl


3,089


3,625

-14.8%

0.1%

-14.9%



9,730


11,573

-15.9%

-2.4%

-13.5%

WW


$ 6,094


6,571

-7.3%

0.9%

-8.2%



$ 18,710


20,873

-10.4%

-2.9%

-7.5%

































* 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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