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      Johnson & Johnson Reports 2016 Second-Quarter Results:

      Sales of $18.5 Billion Increased 3.9% Versus 2015 Second Quarter

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      NEW BRUNSWICK, N.J., July 19, 2016 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced sales of $18.5 billion for the second quarter of 2016, an increase of 3.9% as compared to the second quarter of 2015. Operational sales results increased 5.3% and the negative impact of currency was 1.4%. Domestic sales increased 7.4%. International sales increased 0.4%, reflecting operational growth of 3.1% and a negative currency impact of 2.7%. Excluding the net impact of acquisitions, divestitures and hepatitis C sales, on an operational basis, worldwide sales increased 7.9%, domestic sales increased 8.8% and international sales increased 6.9%.* Operations in Venezuela negatively impacted worldwide operational sales growth by 30 basis points, and international sales growth by 70 basis points.

      Net earnings and diluted earnings per share for the second quarter of 2016 were $4.0 billion and $1.43, respectively. Second quarter 2016 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a charge for after-tax special items of approximately $0.7 billion. 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. Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $4.9 billion and adjusted diluted earnings per share were $1.74, representing increases of 1.1% and 1.8%, respectively, as compared to the same period in 2015.* On an operational basis, adjusted diluted earnings per share also increased 1.8%.* A reconciliation of non-GAAP financial measures is included as an accompanying schedule.

      “We continue to see good momentum through the first half of 2016, delivering solid results in the second quarter, supported by strong underlying growth across our enterprise,” said Alex Gorsky, Chairman and Chief Executive Officer. “We saw notable strength in our Pharmaceuticals business due to the continued success of new products, and also achieved significant clinical milestones, advancing our robust pipeline. In our Consumer business, we are executing strategic portfolio decisions to expand our market leadership in key segments, and in Medical Devices, we are continuing to accelerate our growth driven by new product launches and transforming our commercial models.”

      Mr. Gorsky continued, “I am proud of our dedicated and talented employees whose commitment to advancing health and well-being for patients and consumers around the world is fueling our growth.”

      The Company increased its sales guidance for the full-year 2016 to $71.5 billion to $72.2 billion. Additionally, the Company increased its adjusted earnings guidance for full-year 2016 to $6.63 - $6.73 per share.*

      Worldwide Consumer sales of $3.4 billion for the second quarter 2016 represented a decrease of 1.8% versus the prior year, consisting of an operational increase of 1.5% and a negative impact from currency of 3.3%. Domestic sales increased 2.1%; international sales decreased 4.4%, which reflected an operational increase of 1.0% and a negative currency impact of 5.4%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 3.9%, domestic sales increased 6.8% and international sales increased 2.0%*. Operations in Venezuela negatively impacted worldwide Consumer operational sales growth by 120 basis points, and international sales growth by 200 basis points.

      Primary contributors to Consumer operational sales results were NEUTROGENA® and AVEENO® skin care products; over-the-counter products, including TYLENOL® and MOTRIN® analgesics, digestive health products and international anti-smoking aids; and LISTERINE® oral care products.

      During the quarter, the acquisitions of NeoStrata Company, Inc., a global leader in dermocosmetics, and the HIPOGLÓS® diaper rash cream brand in Brazil were completed. In addition, subsequent to the quarter, the acquisition of Vogue International LLC, a privately-held company focused on the marketing, development and distribution of salon-influenced and nature inspired hair care and other personal care products, was completed for $3.3 billion in cash.

      Worldwide Pharmaceutical sales of $8.7 billion for the second quarter 2016 represented an increase of 8.9% versus the prior year with an operational increase of 9.7% and a negative impact from currency of 0.8%. Domestic sales increased 13.2%; international sales increased 3.1%, which reflected an operational increase of 4.9% and a negative currency impact of 1.8%. Excluding the net impact of acquisitions, divestitures and hepatitis C sales, on an operational basis, worldwide sales increased 12.8%, domestic sales increased 13.9% and international sales increased 11.2%.*

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

      Additional contributors to operational sales growth include STELARA® (ustekinumab), a biologic approved for the treatment of moderate to severe plaque psoriasis and psoriatic arthritis; SIMPONI®/SIMPONI ARIA® (golimumab) and REMICADE® (infliximab), biologics approved for the treatment of a number of immune-mediated inflammatory diseases; and INVEGA® SUSTENNA®/XEPLION®/TRINZA® (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults.

      During the quarter, the U.S. Food and Drug Administration (FDA) approved an additional indication for INVOKAMET® (canagliflozin/metformin HCl) for first-line treatment of adults with type 2 diabetes and an expanded label for IMBRUVICA® (ibrutinib) to include overall survival and combination data in chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL). The European Commission (EC) granted conditional approval to DARZALEX® (daratumumab) for monotherapy of adult patients with relapsed and refractory multiple myeloma and also approved IMBRUVICA® (ibrutinib) for the treatment of adult patients with previously untreated chronic lymphocytic leukemia, TREVICTA® (paliperidone palmitate a 3 monthly injection) for the maintenance treatment of schizophrenia in adult patients, and SIMPONI® (golimumab) for the treatment of polyarticular juvenile idiopathic arthritis.

      In addition, the divestiture of the company’s controlled substance raw material and active pharmaceutical ingredient business to SK Capital Partners, a private equity company, was completed.

      Worldwide Medical Devices sales of $6.4 billion for the second quarter 2016 represented an increase of 0.8% versus the prior year consisting of an operational increase of 1.8% and a negative currency impact of 1.0%. Domestic sales increased 1.0%; international sales increased 0.6%, which reflected an operational increase of 2.6% and a negative currency impact of 2.0%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 3.9%, domestic sales increased 1.9% and international sales increased 5.8%.* Operations in Venezuela negatively impacted worldwide operational sales growth by 30 basis points, and international sales growth by 50 basis points.

      Primary contributors to operational sales growth were endocutters, energy and biosurgical products in the Advanced Surgery business; electrophysiology products in the Cardiovascular business; joint reconstruction and U.S. trauma products in the Orthopaedics business; and ACUVUE® contact lenses in the Vision Care business.

      During the quarter, the acquisition of privately-held BioMedical Enterprises, Inc., a leading manufacturer of Nitinol orthopaedic implants for small bone fixation, was completed.

      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 126,500 employees at more than 250 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. 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 Investor Relations section of the company’s website at www.investor.jnj.com. 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.

      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 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 be found on the company’s website at www.investor.jnj.com.

      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, 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, including restructuring plans; market conditions and the possibility that the on-going share repurchase program may be suspended or discontinued; the impact of business combinations and divestitures; 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 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 January 3, 2016, including in 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 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


      2016


      2015


      Total


      Operations

      Currency


      2016


      2015


      Total


      Operations

      Currency

      Sales to customers by




















      segment of business








































      Consumer




















      U.S.

      $ 1,384


      1,355


      2.1

      %

      2.1


      -


      $ 2,742


      2,714


      1.0

      %

      1.0


      -

      International

      2,035


      2,128


      (4.4)


      1.0


      (5.4)


      3,872


      4,159


      (6.9)


      0.4


      (7.3)


      3,419


      3,483


      (1.8)


      1.5


      (3.3)


      6,614


      6,873


      (3.8)


      0.6


      (4.4)





















      Pharmaceutical




















      U.S.

      5,144


      4,543


      13.2


      13.2


      -


      10,081


      8,914


      13.1


      13.1


      -

      International

      3,510


      3,403


      3.1


      4.9


      (1.8)


      6,751


      6,758


      (0.1)


      3.8


      (3.9)


      8,654


      7,946


      8.9


      9.7


      (0.8)


      16,832


      15,672


      7.4


      9.1


      (1.7)





















      Medical Devices




















      U.S.

      3,044


      3,013


      1.0


      1.0


      -


      6,070


      5,975


      1.6


      1.6


      -

      International

      3,365


      3,345


      0.6


      2.6


      (2.0)


      6,448


      6,641


      (2.9)


      0.8


      (3.7)


      6,409


      6,358


      0.8


      1.8


      (1.0)


      12,518


      12,616


      (0.8)


      1.2


      (2.0)





















      U.S.

      9,572


      8,911


      7.4


      7.4


      -


      18,893


      17,603


      7.3


      7.3


      -

      International

      8,910


      8,876


      0.4


      3.1


      (2.7)


      17,071


      17,558


      (2.8)


      1.8


      (4.6)

      Worldwide

      $ 18,482


      17,787


      3.9

      %

      5.3


      (1.4)


      $ 35,964


      35,161


      2.3

      %

      4.6


      (2.3)





















      Johnson & Johnson and Subsidiaries



















      Supplementary Sales Data








































      (Unaudited; Dollars in Millions)

      SECOND QUARTER


      SIX MONTHS






      Percent Change






      Percent Change


      2016


      2015


      Total


      Operations

      Currency


      2016


      2015


      Total


      Operations

      Currency

      Sales to customers by




















      geographic area








































      U.S.

      $ 9,572


      8,911


      7.4

      %

      7.4


      -


      $ 18,893


      17,603


      7.3

      %

      7.3


      -





















      Europe

      4,090


      4,151


      (1.5)


      (0.6)


      (0.9)


      7,937


      8,191


      (3.1)


      (0.6)


      (2.5)

      Western Hemisphere excluding U.S.

      1,542


      1,501


      2.7


      15.4


      (12.7)


      2,873


      3,140


      (8.5)


      7.1


      (15.6)

      Asia-Pacific, Africa

      3,278


      3,224


      1.7


      2.1


      (0.4)


      6,261


      6,227


      0.5


      2.5


      (2.0)

      International

      8,910


      8,876


      0.4


      3.1


      (2.7)


      17,071


      17,558


      (2.8)


      1.8


      (4.6)





















      Worldwide

      $ 18,482


      17,787


      3.9

      %

      5.3


      (1.4)


      $ 35,964


      35,161


      2.3

      %

      4.6


      (2.3)





















      Johnson & Johnson and Subsidiaries










      Condensed Consolidated Statement of Earnings




















      (Unaudited; in Millions Except Per Share Figures)

      SECOND QUARTER












      2016


      2015


      Percent




      Percent




      Percent


      Increase


      Amount


      to Sales


      Amount


      to Sales


      (Decrease)

      Sales to customers

      $ 18,482


      100.0


      $ 17,787


      100.0


      3.9

      Cost of products sold

      5,336


      28.9


      5,357


      30.1


      (0.4)

      Selling, marketing and administrative expenses

      5,176


      28.0


      5,384


      30.3


      (3.9)

      Research and development expense

      2,264


      12.2


      2,129


      12.0


      6.3

      In-process research and development

      29


      0.2


      -


      -



      Interest (income) expense, net

      102


      0.6


      107


      0.6



      Other (income) expense, net

      557


      3.0


      (931)


      (5.3)



      Restructuring

      114


      0.6


      -


      -



      Earnings before provision for taxes on income

      4,904


      26.5


      5,741


      32.3


      (14.6)

      Provision for taxes on income

      907


      4.9


      1,225


      6.9


      (26.0)

      Net earnings

      $ 3,997


      21.6


      $ 4,516


      25.4


      (11.5)











      Net earnings per share (Diluted)

      $ 1.43




      $ 1.61




      (11.2)











      Average shares outstanding (Diluted)

      2,794.2




      2,812.0















      Effective tax rate

      18.5

      %



      21.3

      %














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










      Earnings before provision for taxes on income

      $ 6,024


      32.6


      $ 6,248


      35.1


      (3.6)

      Net earnings

      $ 4,866


      26.3


      $ 4,812


      27.1


      1.1

      Net earnings per share (Diluted)

      $ 1.74




      $ 1.71




      1.8

      Effective tax rate

      19.2

      %



      23.0

      %














      (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












      2016


      2015


      Percent




      Percent




      Percent


      Increase


      Amount


      to Sales


      Amount


      to Sales


      (Decrease)

      Sales to customers

      $ 35,964


      100.0


      $ 35,161


      100.0


      2.3

      Cost of products sold

      10,665


      29.6


      10,639


      30.2


      0.2

      Selling, marketing and administrative expenses

      9,864


      27.4


      10,231


      29.1


      (3.6)

      Research and development expense

      4,277


      11.9


      4,028


      11.5


      6.2

      In-process research and development

      29


      0.1


      -


      -



      Interest (income) expense, net

      179


      0.5


      226


      0.6



      Other (income) expense, net

      518


      1.4


      (1,279)


      (3.6)



      Restructuring

      234


      0.7


      -


      -



      Earnings before provision for taxes on income

      10,198


      28.4


      11,316


      32.2


      (9.9)

      Provision for taxes on income

      1,744


      4.9


      2,480


      7.1


      (29.7)

      Net earnings

      $ 8,454


      23.5


      $ 8,836


      25.1


      (4.3)











      Net earnings per share (Diluted)

      $ 3.02




      $ 3.13




      (3.5)











      Average shares outstanding (Diluted)

      2,800.9




      2,821.0















      Effective tax rate

      17.1

      %



      21.9

      %














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










      Earnings before provision for taxes on income

      $ 11,825


      32.9


      $ 11,878


      33.8


      (0.4)

      Net earnings

      $ 9,720


      27.0


      $ 9,230


      26.3


      5.3

      Net earnings per share (Diluted)

      $ 3.47




      $ 3.27




      6.1

      Effective tax rate

      17.8

      %



      22.3

      %














      (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)


      2016


      2015


      (Decr.)



      2016


      2015


      (Decr.)

















      Earnings before provision for taxes on income - as reported


      $ 4,904


      5,741


      (14.6)

      %


      $ 10,198


      11,316


      (9.9)

      %
















      Intangible asset amortization expense


      326


      318





      608


      630



















      Restructuring/Other (1)


      141


      -





      278


      -



















      Litigation expense/(gain), net


      600


      134





      666


      (268)



















      DePuy ASRHip program


      -


      9





      -


      148



















      In-process research and development


      29


      -





      29


      -



















      Other


      24


      46





      46


      52



















      Earnings before provision for taxes on income - as adjusted


      $ 6,024


      6,248


      (3.6)

      %


      $ 11,825


      11,878


      (0.4)

      %
















      Net Earnings - as reported


      $ 3,997


      4,516


      (11.5)

      %


      $ 8,454


      8,836


      (4.3)

      %
















      Intangible asset amortization expense


      238


      230





      443


      456



















      Restructuring/Other


      97


      -





      217


      -



















      Litigation expense/(gain), net


      493


      23





      549


      (230)



















      DePuy ASRHip program


      -


      8





      -


      130



















      In-process research and development


      23


      -





      23


      -



















      Other


      18


      35





      34


      38



















      Net Earnings - as adjusted


      $ 4,866


      4,812


      1.1

      %


      $ 9,720


      9,230


      5.3

      %
















      Diluted Net Earnings per share - as reported


      $ 1.43


      1.61


      (11.2)

      %


      $ 3.02


      3.13


      (3.5)

      %
















      Intangible asset amortization expense


      0.08


      0.08





      0.16


      0.16



















      Restructuring/Other


      0.03


      -





      0.08


      -



















      Litigation expense/(gain), net


      0.18


      0.01





      0.19


      (0.08)



















      DePuy ASRHip program


      -


      -





      -


      0.05



















      In-process research and development


      0.01


      -





      0.01


      -



















      Other


      0.01


      0.01





      0.01


      0.01



















      Diluted Net Earnings per share - as adjusted


      $ 1.74


      1.71


      1.8

      %


      $ 3.47


      3.27


      6.1

      %
















      Operational Diluted Net Earnings per share - as adjusted at 2014 foreign currency exchange rates




      1.90







      3.59



















      Impact of currency at 2015 foreign currency exchange rates


      $ -


      (0.19)





      $ 0.04


      (0.32)



















      Operational Diluted Net Earnings per share - as adjusted at 2015 foreign currency exchange rates


      $ 1.74


      1.71


      1.8

      %


      $ 3.51


      3.27


      7.3

      %































      (1) Includes $7M recorded in cost of products sold and $20M recorded in other (income) expense for the second quarter.









      Includes $24M recorded in cost of products sold and $20M recorded in other (income) expense for six months YTD.







      Johnson & Johnson and Subsidiaries









      Reconciliation of Non-GAAP Financial Measure


















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

      SECOND QUARTER 2016 ACTUAL vs. 2015 ACTUAL











      Segments












      Consumer


      Pharmaceutical


      Medical Devices


      Total



      Operational % (2)

      WW As Reported:


      1.5%


      9.7%


      1.8%


      5.3%

      U.S.


      2.1%


      13.2%


      1.0%


      7.4%

      International


      1.0%


      4.9%


      2.6%


      3.1%










      Wound Care/Other









      SPLENDA®


      2.5






      0.5

      U.S.


      4.9






      0.7

      International


      1.0






      0.2










      Cardiovascular









      Cordis






      2.3


      0.8

      U.S.






      1.1


      0.4

      International






      3.5


      1.3










      All Other Acquisitions and Divestitures


      (0.1)


      (0.1)


      (0.2)


      (0.1)

      U.S.


      (0.2)


      (0.1)


      (0.2)


      (0.1)

      International


      0.0


      0.0


      (0.3)


      (0.1)










      WW Ops excluding Acquisitions and Divestitures


      3.9%


      9.6%


      3.9%


      6.5%

      U.S.


      6.8%


      13.1%


      1.9%


      8.4%

      International


      2.0%


      4.9%


      5.8%


      4.5%










      Hepatitis C




      3.2




      1.4

      U.S.




      0.8




      0.4

      International




      6.3




      2.4










      WW Ops excluding Hepatitis C only




      12.9%




      6.7%

      U.S.




      14.0%




      7.8%

      International




      11.2%




      5.5%










      WW Ops excluding Acquisitions, Divestitures and Hepatitis C


      3.9%


      12.8%


      3.9%


      7.9%

      U.S.


      6.8%


      13.9%


      1.9%


      8.8%

      International


      2.0%


      11.2%


      5.8%


      6.9%



















      (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)

      SIX MONTHS 2016 ACTUAL vs. 2015 ACTUAL











      Segments












      Consumer


      Pharmaceutical


      Medical Devices


      Total



      Operational % (2)

      WW As Reported:


      0.6%


      9.1%


      1.2%


      4.6%

      U.S.


      1.0%


      13.1%


      1.6%


      7.3%

      International


      0.4%


      3.8%


      0.8%


      1.8%










      Wound Care/Other









      SPLENDA®


      2.3






      0.4

      U.S.


      4.5






      0.7

      International


      0.8






      0.2










      Cardiovascular









      Cordis






      2.3


      0.9

      U.S.






      1.1


      0.4

      International






      3.5


      1.4










      All Other Acquisitions and Divestitures


      0.0


      0.2


      (0.1)


      0.1

      U.S.


      (0.1)


      0.4


      (0.1)


      0.2

      International


      0.1


      0.0


      0.0


      0.0










      WW Ops excluding Acquisitions and Divestitures


      2.9%


      9.3%


      3.4%


      6.0%

      U.S.


      5.4%


      13.5%


      2.6%


      8.6%

      International


      1.3%


      3.8%


      4.3%


      3.4%



















      Hepatitis C




      3.2




      1.4

      U.S.




      1.5




      0.7

      International




      5.4




      2.0










      WW Ops excluding Hepatitis C only




      12.3%




      6.0%

      U.S.




      14.6%




      8.0%

      International




      9.2%




      3.8%










      WW Ops excluding Acquisitions, Divestitures, and Hepatitis C


      2.9%


      12.5%


      3.4%


      7.4%

      U.S.


      5.4%


      15.0%


      2.6%


      9.3%

      International


      1.3%


      9.2%


      4.3%


      5.4%










      (1) Hepatitis C products include 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



      2016


      2015

      Reported

      Operational (1)

      Currency



      2016


      2015

      Reported

      Operational (1)

      Currency

      CONSUMER SEGMENT (2)
















      BABY CARE
















      US


      $ 102


      104

      -1.9%

      -1.9%

      -



      $ 197


      215

      -8.4%

      -8.4%

      -

      Intl


      398


      439

      -9.3%

      -2.2%

      -7.1%



      754


      839

      -10.1%

      -1.1%

      -9.0%

      WW


      500


      543

      -7.9%

      -2.1%

      -5.8%



      951


      1,054

      -9.8%

      -2.6%

      -7.2%

      ORAL CARE
















      US


      159


      147

      8.2%

      8.2%

      -



      329


      305

      7.9%

      7.9%

      -

      Intl


      244


      244

      0.0%

      5.6%

      -5.6%



      459


      489

      -6.1%

      1.3%

      -7.4%

      WW


      403


      391

      3.1%

      6.6%

      -3.5%



      788


      794

      -0.8%

      3.8%

      -4.6%

      OTC
















      US


      389


      366

      6.3%

      6.3%

      -



      850


      771

      10.2%

      10.2%

      -

      Intl


      619


      608

      1.8%

      6.1%

      -4.3%



      1,177


      1,196

      -1.6%

      4.5%

      -6.1%

      WW


      1,008


      974

      3.5%

      6.2%

      -2.7%



      2,027


      1,967

      3.1%

      6.8%

      -3.7%

      SKIN CARE
















      US


      555


      491

      13.0%

      13.0%

      -



      1,043


      983

      6.1%

      6.1%

      -

      Intl


      398


      403

      -1.2%

      3.5%

      -4.7%



      772


      814

      -5.2%

      1.3%

      -6.5%

      WW


      953


      894

      6.6%

      8.7%

      -2.1%



      1,815


      1,797

      1.0%

      3.9%

      -2.9%

      WOMEN’S HEALTH
















      US


      7


      7

      0.0%

      0.0%

      -



      13


      13

      0.0%

      0.0%

      -

      Intl


      276


      313

      -11.8%

      -4.8%

      -7.0%



      521


      594

      -12.3%

      -3.0%

      -9.3%

      WW


      283


      320

      -11.6%

      -4.8%

      -6.8%



      534


      607

      -12.0%

      -2.9%

      -9.1%

      WOUND CARE / OTHER
















      US


      172


      240

      -28.3%

      -28.3%

      -



      310


      427

      -27.4%

      -27.4%

      -

      Intl


      100


      121

      -17.4%

      -14.2%

      -3.2%



      189


      227

      -16.7%

      -11.4%

      -5.3%

      WW


      272


      361

      -24.7%

      -23.6%

      -1.1%



      499


      654

      -23.7%

      -21.9%

      -1.8%

















      TOTAL CONSUMER
















      US


      1,384


      1,355

      2.1%

      2.1%

      -



      2,742


      2,714

      1.0%

      1.0%

      -

      Intl


      2,035


      2,128

      -4.4%

      1.0%

      -5.4%



      3,872


      4,159

      -6.9%

      0.4%

      -7.3%

      WW


      $ 3,419


      3,483

      -1.8%

      1.5%

      -3.3%



      $ 6,614


      6,873

      -3.8%

      0.6%

      -4.4%



































      REPORTED SALES vs. PRIOR PERIOD ($MM)


      SECOND QUARTER


      SIX MONTHS






      % Change






      % Change



      2016


      2015

      Reported

      Operational (1)

      Currency



      2016


      2015

      Reported

      Operational (1)

      Currency

      PHARMACEUTICAL SEGMENT (2)
















      IMMUNOLOGY
















      US


      $ 2,224


      1,876

      18.6%

      18.6%

      -



      $ 4,395


      3,631

      21.0%

      21.0%

      -

      Intl


      814


      678

      20.1%

      23.0%

      -2.9%



      1,553


      1,386

      12.0%

      17.7%

      -5.7%

      WW


      3,038


      2,554

      19.0%

      19.8%

      -0.8%



      5,948


      5,017

      18.6%

      20.2%

      -1.6%

      REMICADE
















      US


      1,236


      1,088

      13.6%

      13.6%

      -



      2,447


      2,143

      14.2%

      14.2%

      -

      US Exports (3)


      185


      241

      -23.2%

      -23.2%

      -



      418


      422

      -0.9%

      -0.9%

      -

      Intl


      359


      339

      5.9%

      11.1%

      -5.2%



      694


      703

      -1.3%

      6.2%

      -7.5%

      WW


      1,780


      1,668

      6.7%

      7.7%

      -1.0%



      3,559


      3,268

      8.9%

      10.5%

      -1.6%

      SIMPONI / SIMPONI ARIA
















      US


      244


      172

      41.9%

      41.9%

      -



      460


      327

      40.7%

      40.7%

      -

      Intl


      204


      136

      50.0%

      49.7%

      0.3%



      378


      281

      34.5%

      38.3%

      -3.8%

      WW


      448


      308

      45.5%

      45.4%

      0.1%



      838


      608

      37.8%

      39.5%

      -1.7%

      STELARA
















      US


      559


      375

      49.1%

      49.1%

      -



      1,070


      739

      44.8%

      44.8%

      -

      Intl


      245


      195

      25.6%

      26.4%

      -0.8%



      469


      380

      23.4%

      26.8%

      -3.4%

      WW


      804


      570

      41.1%

      41.4%

      -0.3%



      1,539


      1,119

      37.5%

      38.7%

      -1.2%

      OTHER IMMUNOLOGY
















      US


      -


      -

      -

      -

      -



      -


      -

      -

      -

      -

      Intl


      6


      8

      -25.0%

      -15.2%

      -9.8%



      12


      22

      -45.5%

      -36.4%

      -9.1%

      WW


      6


      8

      -25.0%

      -15.2%

      -9.8%



      12


      22

      -45.5%

      -36.4%

      -9.1%

      INFECTIOUS DISEASES
















      US


      362


      381

      -5.0%

      -5.0%

      -



      720


      793

      -9.2%

      -9.2%

      -

      Intl


      467


      651

      -28.3%

      -27.3%

      -1.0%



      885


      1,214

      -27.1%

      -24.8%

      -2.3%

      WW


      829


      1,032

      -19.7%

      -19.1%

      -0.6%



      1,605


      2,007

      -20.0%

      -18.6%

      -1.4%

      EDURANT
















      US


      14


      9

      55.6%

      55.6%

      -



      25


      18

      38.9%

      38.9%

      -

      Intl


      126


      92

      37.0%

      35.1%

      1.9%



      234


      174

      34.5%

      35.2%

      -0.7%

      WW


      140


      101

      38.6%

      36.9%

      1.7%



      259


      192

      34.9%

      35.6%

      -0.7%

      OLYSIO / SOVRIAD
















      US


      21


      50

      -58.0%

      -58.0%

      -



      37


      148

      -75.0%

      -75.0%

      -

      Intl


      22


      214

      -89.7%

      -89.4%

      -0.3%



      38


      350

      -89.1%

      -88.5%

      -0.6%

      WW


      43


      264

      -83.7%

      -83.5%

      -0.2%



      75


      498

      -84.9%

      -84.5%

      -0.4%

      PREZISTA / PREZCOBIX / REZOLSTA
















      US


      273


      258

      5.8%

      5.8%

      -



      550


      492

      11.8%

      11.8%

      -

      Intl


      186


      190

      -2.1%

      -0.6%

      -1.5%



      361


      383

      -5.7%

      -2.6%

      -3.1%

      WW


      459


      448

      2.5%

      3.1%

      -0.6%



      911


      875

      4.1%

      5.5%

      -1.4%

      OTHER INFECTIOUS DISEASES
















      US


      54


      64

      -15.6%

      -15.6%

      -



      108


      135

      -20.0%

      -20.0%

      -

      Intl


      133


      155

      -14.2%

      -11.2%

      -3.0%



      252


      307

      -17.9%

      -13.9%

      -4.0%

      WW


      187


      219

      -14.6%

      -12.5%

      -2.1%



      360


      442

      -18.6%

      -15.8%

      -2.8%

      See footnotes at end of schedule


















      REPORTED SALES vs. PRIOR PERIOD ($MM)


      SECOND QUARTER


      SIX MONTHS






      % Change






      % Change



      2016


      2015

      Reported

      Operational (1)

      Currency



      2016


      2015

      Reported

      Operational (1)

      Currency

      NEUROSCIENCE
















      US


      695


      693

      0.3%

      0.3%

      -



      1,375


      1,443

      -4.7%

      -4.7%

      -

      Intl


      907


      871

      4.1%

      4.7%

      -0.6%



      1,776


      1,739

      2.1%

      5.1%

      -3.0%

      WW


      1,602


      1,564

      2.4%

      2.8%

      -0.4%



      3,151


      3,182

      -1.0%

      0.6%

      -1.6%

      CONCERTA / METHYLPHENIDATE
















      US


      129


      102

      26.5%

      26.5%

      -



      263


      228

      15.4%

      15.4%

      -

      Intl


      109


      104

      4.8%

      8.4%

      -3.6%



      206


      202

      2.0%

      7.4%

      -5.4%

      WW


      238


      206

      15.5%

      17.3%

      -1.8%



      469


      430

      9.1%

      11.7%

      -2.6%

      INVEGA / PALIPERIDONE
















      US


      18


      105

      -82.9%

      -82.9%

      -



      42


      199

      -78.9%

      -78.9%

      -

      Intl


      64


      61

      4.9%

      3.4%

      1.5%



      126


      122

      3.3%

      4.4%

      -1.1%

      WW


      82


      166

      -50.6%

      -51.2%

      0.6%



      168


      321

      -47.7%

      -47.3%

      -0.4%

      INVEGA SUSTENNA / XEPLION / INVEGA TRINZA
















      US


      339


      253

      34.0%

      34.0%

      -



      644


      481

      33.9%

      33.9%

      -

      Intl


      221


      183

      20.8%

      21.2%

      -0.4%



      429


      366

      17.2%

      20.2%

      -3.0%

      WW


      560


      436

      28.4%

      28.6%

      -0.2%



      1,073


      847

      26.7%

      28.0%

      -1.3%

      RISPERDAL CONSTA
















      US


      100


      99

      1.0%

      1.0%

      -



      195


      203

      -3.9%

      -3.9%

      -

      Intl


      130


      148

      -12.2%

      -11.9%

      -0.3%



      266


      298

      -10.7%

      -8.4%

      -2.3%

      WW


      230


      247

      -6.9%

      -6.7%

      -0.2%



      461


      501

      -8.0%

      -6.6%

      -1.4%

      OTHER NEUROSCIENCE
















      US


      109


      134

      -18.7%

      -18.7%

      -



      231


      332

      -30.4%

      -30.4%

      -

      Intl


      383


      375

      2.1%

      2.6%

      -0.5%



      749


      751

      -0.3%

      2.6%

      -2.9%

      WW


      492


      509

      -3.3%

      -3.0%

      -0.3%



      980


      1,083

      -9.5%

      -7.5%

      -2.0%

      ONCOLOGY
















      US


      569


      362

      57.2%

      57.2%

      -



      1,118


      696

      60.6%

      60.6%

      -

      Intl


      905


      782

      15.7%

      17.1%

      -1.4%



      1,710


      1,556

      9.9%

      13.5%

      -3.6%

      WW


      1,474


      1,144

      28.8%

      29.8%

      -1.0%



      2,828


      2,252

      25.6%

      28.1%

      -2.5%

      IMBRUVICA
















      US


      144


      89

      61.8%

      61.8%

      -



      276


      155

      78.1%

      78.1%

      -

      Intl


      151


      65

      *

      *

      **



      280


      115

      *

      *

      **

      WW


      295


      154

      91.6%

      93.1%

      -1.5%



      556


      270

      *

      *

      **

      VELCADE
















      US


      -


      -

      -

      -

      -



      -


      -

      -

      -

      -

      Intl


      342


      344

      -0.6%

      1.4%

      -2.0%



      646


      683

      -5.4%

      -2.0%

      -3.4%

      WW


      342


      344

      -0.6%

      1.4%

      -2.0%



      646


      683

      -5.4%

      -2.0%

      -3.4%

      ZYTIGA
















      US


      286


      255

      12.2%

      12.2%

      -



      558


      508

      9.8%

      9.8%

      -

      Intl


      315


      291

      8.2%

      8.4%

      -0.2%



      601


      594

      1.2%

      4.1%

      -2.9%

      WW


      601


      546

      10.1%

      10.2%

      -0.1%



      1,159


      1,102

      5.2%

      6.8%

      -1.6%

      OTHER ONCOLOGY
















      US


      139


      18

      *

      *

      -



      284


      33

      *

      *

      -

      Intl


      97


      82

      18.3%

      20.1%

      -1.8%



      183


      164

      11.6%

      15.6%

      -4.0%

      WW


      236


      100

      *

      *

      **



      467


      197

      *

      *

      **

      CARDIOVASCULAR / METABOLISM / OTHER
















      US


      1,294


      1,231

      5.1%

      5.1%

      -



      2,473


      2,351

      5.2%

      5.2%

      -

      Intl


      417


      421

      -1.0%

      3.2%

      -4.2%



      827


      863

      -4.2%

      1.4%

      -5.6%

      WW


      1,711


      1,652

      3.6%

      4.7%

      -1.1%



      3,300


      3,214

      2.7%

      4.2%

      -1.5%

      XARELTO
















      US


      594


      472

      25.8%

      25.8%

      -



      1,161


      913

      27.2%

      27.2%

      -

      Intl


      -


      -

      -

      -

      -



      -


      -

      -

      -

      -

      WW


      594


      472

      25.8%

      25.8%

      -



      1,161


      913

      27.2%

      27.2%

      -

      INVOKANA / INVOKAMET
















      US


      348


      302

      15.2%

      15.2%

      -



      645


      568

      13.6%

      13.6%

      -

      Intl


      35


      16

      *

      *

      **



      63


      28

      *

      *

      **

      WW


      383


      318

      20.4%

      21.0%

      -0.6%



      708


      596

      18.8%

      19.5%

      -0.7%

      PROCRIT / EPREX
















      US


      230


      179

      28.5%

      28.5%

      -



      413


      342

      20.8%

      20.8%

      -

      Intl


      92


      97

      -5.2%

      -2.9%

      -2.3%



      183


      203

      -9.9%

      -5.9%

      -4.0%

      WW


      322


      276

      16.7%

      17.5%

      -0.8%



      596


      545

      9.4%

      10.9%

      -1.5%

      OTHER
















      US


      122


      278

      -56.1%

      -56.1%

      -



      254


      528

      -51.9%

      -51.9%

      -

      Intl


      290


      308

      -5.8%

      -1.4%

      -4.4%



      581


      632

      -8.1%

      -2.5%

      -5.6%

      WW


      412


      586

      -29.7%

      -27.4%

      -2.3%



      835


      1,160

      -28.0%

      -25.0%

      -3.0%

















      TOTAL PHARMACEUTICAL
















      US


      5,144


      4,543

      13.2%

      13.2%

      -



      10,081


      8,914

      13.1%

      13.1%

      -

      Intl


      3,510


      3,403

      3.1%

      4.9%

      -1.8%



      6,751


      6,758

      -0.1%

      3.8%

      -3.9%

      WW


      $ 8,654


      7,946

      8.9%

      9.7%

      -0.8%



      $ 16,832


      15,672

      7.4%

      9.1%

      -1.7%

















      See footnotes at end of schedule


















      REPORTED SALES vs. PRIOR PERIOD ($MM)


      SECOND QUARTER


      SIX MONTHS






      % Change






      % Change



      2016


      2015

      Reported

      Operational (1)

      Currency



      2016


      2015

      Reported

      Operational (1)

      Currency

      MEDICAL DEVICES SEGMENT (2) (4)
















      CARDIOVASCULAR
















      US


      $ 235


      235

      0.0%

      0.0%

      -



      $ 466


      463

      0.6%

      0.6%

      -

      Intl


      235


      309

      -23.9%

      -23.8%

      -0.1%



      447


      610

      -26.7%

      -25.0%

      -1.7%

      WW


      470


      544

      -13.6%

      -13.6%

      0.0%



      913


      1,073

      -14.9%

      -14.0%

      -0.9%

      DIABETES CARE
















      US


      177


      214

      -17.3%

      -17.3%

      -



      357


      426

      -16.2%

      -16.2%

      -

      Intl


      294


      280

      5.0%

      7.0%

      -2.0%



      543


      552

      -1.6%

      2.2%

      -3.8%

      WW


      471


      494

      -4.7%

      -3.5%

      -1.2%



      900


      978

      -8.0%

      -5.8%

      -2.2%

      DIAGNOSTICS
















      US


      -


      -

      -

      -

      -



      -


      -

      -

      -

      -

      Intl


      31


      16

      93.8%

      *

      **



      59


      46

      28.3%

      47.8%

      -19.5%

      WW


      31


      16

      93.8%

      *

      **



      59


      46

      28.3%

      47.8%

      -19.5%

      ORTHOPAEDICS
















      US


      1,364


      1,321

      3.3%

      3.3%

      -



      2,756


      2,630

      4.8%

      4.8%

      -

      Intl


      991


      1,009

      -1.8%

      0.2%

      -2.0%



      1,940


      2,028

      -4.3%

      -0.5%

      -3.8%

      WW


      2,355


      2,330

      1.1%

      2.0%

      -0.9%



      4,696


      4,658

      0.8%

      2.4%

      -1.6%

      HIPS
















      US


      197


      193

      2.1%

      2.1%

      -



      400


      383

      4.4%

      4.4%

      -

      Intl


      152


      143

      6.3%

      9.6%

      -3.3%



      291


      286

      1.7%

      6.5%

      -4.8%

      WW


      349


      336

      3.9%

      5.3%

      -1.4%



      691


      669

      3.3%

      5.3%

      -2.0%

      KNEES
















      US


      229


      222

      3.2%

      3.2%

      -



      473


      448

      5.6%

      5.6%

      -

      Intl


      156


      150

      4.0%

      6.7%

      -2.7%



      301


      300

      0.3%

      4.4%

      -4.1%

      WW


      385


      372

      3.5%

      4.6%

      -1.1%



      774


      748

      3.5%

      5.1%

      -1.6%

      TRAUMA
















      US


      381


      351

      8.5%

      8.5%

      -



      762


      715

      6.6%

      6.6%

      -

      Intl


      255


      270

      -5.6%

      -3.8%

      -1.8%



      516


      562

      -8.2%

      -4.4%

      -3.8%

      WW


      636


      621

      2.4%

      3.2%

      -0.8%



      1,278


      1,277

      0.1%

      1.8%

      -1.7%

      SPINE & OTHER
















      US


      557


      555

      0.4%

      0.4%

      -



      1,121


      1,084

      3.4%

      3.4%

      -

      Intl


      428


      446

      -4.0%

      -2.5%

      -1.5%



      832


      880

      -5.5%

      -2.2%

      -3.3%

      WW


      985


      1,001

      -1.6%

      -0.9%

      -0.7%



      1,953


      1,964

      -0.6%

      0.9%

      -1.5%

      SURGERY
















      US


      1,020


      1,000

      2.0%

      2.0%

      -



      2,001


      1,960

      2.1%

      2.1%

      -

      Intl


      1,377


      1,328

      3.7%

      6.4%

      -2.7%



      2,624


      2,624

      0.0%

      4.4%

      -4.4%

      WW


      2,397


      2,328

      3.0%

      4.6%

      -1.6%



      4,625


      4,584

      0.9%

      3.4%

      -2.5%

      ADVANCED
















      US


      389


      360

      8.1%

      8.1%

      -



      741


      689

      7.5%

      7.5%

      -

      Intl


      520


      480

      8.3%

      11.0%

      -2.7%



      984


      921

      6.8%

      11.3%

      -4.5%

      WW


      909


      840

      8.2%

      9.7%

      -1.5%



      1,725


      1,610

      7.1%

      9.7%

      -2.6%

      GENERAL
















      US


      421


      423

      -0.5%

      -0.5%

      -



      840


      845

      -0.6%

      -0.6%

      -

      Intl


      706


      696

      1.4%

      3.9%

      -2.5%



      1,357


      1,407

      -3.6%

      0.5%

      -4.1%

      WW


      1,127


      1,119

      0.7%

      2.3%

      -1.6%



      2,197


      2,252

      -2.4%

      0.2%

      -2.6%

      SPECIALTY
















      US


      210


      217

      -3.2%

      -3.2%

      -



      420


      426

      -1.4%

      -1.4%

      -

      Intl


      151


      152

      -0.7%

      2.8%

      -3.5%



      283


      296

      -4.4%

      1.0%

      -5.4%

      WW


      361


      369

      -2.2%

      -0.7%

      -1.5%



      703


      722

      -2.6%

      -0.4%

      -2.2%

      VISION CARE
















      US


      248


      243

      2.1%

      2.1%

      -



      490


      496

      -1.2%

      -1.2%

      -

      Intl


      437


      403

      8.4%

      8.1%

      0.3%



      835


      781

      6.9%

      8.9%

      -2.0%

      WW


      685


      646

      6.0%

      5.8%

      0.2%



      1,325


      1,277

      3.8%

      5.0%

      -1.2%

















      TOTAL MEDICAL DEVICES
















      US


      3,044


      3,013

      1.0%

      1.0%

      -



      6,070


      5,975

      1.6%

      1.6%

      -

      Intl


      3,365


      3,345

      0.6%

      2.6%

      -2.0%



      6,448


      6,641

      -2.9%

      0.8%

      -3.7%

      WW


      $ 6,409


      6,358

      0.8%

      1.8%

      -1.0%



      $ 12,518


      12,616

      -0.8%

      1.2%

      -2.0%

















      * Percentage greater than 100%
















      ** Not meaningful
















      (1) Operational growth excludes the effect of translational currency














      (2) Unaudited
















      (3) Reported as U.S. sales
















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



























      SOURCE Johnson & Johnson

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