Johnson & Johnson Reports 2017 Second-Quarter Results:
NEW BRUNSWICK, N.J., July 18, 2017 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced sales of $18.8 billion for the second quarter of 2017, an increase of 1.9% as compared to the second quarter of 2016. Operational sales results increased 2.9% and the negative impact of currency was 1.0%. Domestic sales increased 1.6%. International sales increased 2.3%, reflecting operational growth of 4.4% and a negative currency impact of 2.1%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 0.5%, domestic sales decreased 1.0% and international sales increased 2.0%.(*)
Net earnings and diluted earnings per share for the second quarter of 2017 were $3.8 billion and $1.40, respectively. Second-quarter 2017 net earnings included after-tax intangible amortization expense of approximately $0.4 billion and a charge for after-tax special items of approximately $0.8 billion. 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. Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $5.0 billion and adjusted diluted earnings per share were $1.83, representing increases of 3.1% and 5.2%, respectively, as compared to the same period in 2016.(*) On an operational basis, adjusted diluted earnings per share also increased 6.9%.(* )A reconciliation of non-GAAP financial measures is included as an accompanying schedule.
"Our second-quarter results reflect strong adjusted earnings growth and we are optimistic that the investments we are making will accelerate our sales growth in the second half of this year. Our pharmaceutical pipeline continued its strong momentum with the approval of TREMFYA(TM) as well as the submission and approval of several key line extensions," said Alex Gorsky, Chairman and Chief Executive Officer. "The Actelion acquisition establishes a new therapeutic area as well as another engine for growth and we are pleased to welcome the Actelion colleagues to the Johnson & Johnson Family of Companies. Together with all of our businesses, we will continue to transform the lives of patients around the world."
The Company increased its sales guidance for the full-year 2017 to $75.8 billion to $76.1 billion. Additionally, the Company increased its adjusted earnings guidance for full-year 2017 to $7.12 - $7.22 per share.*
Worldwide Consumer sales of $3.5 billion for the second quarter 2017 represented an increase of 1.7% versus the prior year, consisting of an operational increase of 2.3% and a negative impact from currency of 0.6%. Domestic sales increased 7.4%, international sales decreased 2.2%, which reflected an operational decrease of 1.1% and a negative currency impact of 1.1%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales decreased 0.8%, domestic sales increased 1.2% and international sales decreased 2.3%(*).
Worldwide operational results, excluding the net impact of acquisitions and divestitures, were negatively impacted by baby care products, partially offset by domestic over-the-counter products, including upper respiratory products and international anti-smoking aids, and NEUTROGENA(®) beauty products.
Worldwide Pharmaceutical sales of $8.6 billion for the second quarter 2017 represented a decrease of 0.2% versus the prior year with an operational increase of 1.0% and a negative impact from currency of 1.2%. Domestic sales decreased 2.6%; international sales increased 3.3%, which reflected an operational increase of 6.1% and a negative currency impact of 2.8%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 0.5%, domestic sales decreased 2.6% and international sales increased 5.1%.(*) Worldwide operational sales growth was negatively impacted by approximately 4 points due to a positive adjustment of U.S. rebate accruals in the second quarter of 2016, which did not repeat in the second quarter of 2017.
Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by new products and the strength of core products. Strong growth in new products include DARZALEX(® )(daratumumab), for the treatment of patients with multiple myeloma and IMBRUVICA(®) (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer. Additional contributors to operational sales growth included STELARA(®) (ustekinumab), a biologic 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 Company announced the completion of the acquisition of Actelion Ltd., a leading biopharmaceutical company, for a total purchase price of approximately $30 billion in cash.
Also in the quarter, the U.S. Food and Drug Administration (FDA) approved an additional indication for DARZALEX(®) (daratumumab) in combination with pomalidomide and dexamethasone for the treatment of patients with multiple myeloma who have received at least two prior therapies. The European Commission (EC) granted approval for DARZALEX(®) (daratumumab) for use in combination with lenalidomide and dexamethasone, or bortezomib (VELCADE(®)) and dexamethasone, for the treatment of adult patients with multiple myeloma who have received at least one prior therapy.
In addition, a supplemental New Drug Application was submitted to the FDA to update the prescribing information for XARELTO(®) (rivaroxaban) to add a 10mg dose to reduce patients' risk of recurrent venous thromboembolism (VTE) after at least six months of standard anticoagulation therapy and regulatory submissions were made to both the European Medicines Agency and the FDA for a single-tablet, two-drug regimen of dolutegravir and rilpivirine for the maintenance treatment of HIV-1 infection.
In July, subsequent to the quarter, the FDA approved TREMFYA((TM)) (guselkumab) for the treatment of adults living with moderate to severe plaque psoriasis.
Worldwide Medical Devices sales of $6.7 billion for the second quarter 2017 represented an increase of 4.9% versus the prior year consisting of an operational increase of 5.9% and a negative currency impact of 1.0%. Domestic sales increased 6.1%; international sales increased 3.9%, which reflected an operational increase of 5.8% and a negative currency impact of 1.9%. Sales included the impact of the first full quarter of the recently completed acquisition of Abbott Medical Optics which contributed 5.1%, to worldwide operational sales growth. Excluding the net impact of all acquisitions and divestitures, on an operational basis, worldwide sales increased 1.1%, domestic sales increased 0.8% and international sales increased 1.4%.(*)
Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by electrophysiology products in the Cardiovascular business, ACUVUE(®) contact lenses in the Vision Care business, and Advanced Surgery products, partially offset by declines in the Diabetes Care business.
During the quarter, FDA clearance was received for the 30-minute STERRAD VELOCITY((TM)) Biological Indicator System for low temperature H(2)0(2) sterilization as well as approval for the SURGICEL(® )Powder Absorbable Hemostat for adjunctive hemostasis during surgery.
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 132,500 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 and divestitures, 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 and financial market factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in 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; the impact of business combinations and divestitures, including the Company's ability to successfully integrate Actelion Ltd.'s products and operations and realize the expected benefits and opportunities of the transaction in the expected time frame or at all; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; 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 descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 1, 2017, including under "Item 1A. Risk Factors," its most recently filed Quarterly Report on Form 10-Q, including in the section captioned "Cautionary Note Regarding Forward-Looking Statements," 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 2017 2016 Total Operations Currency 2017 2016 Total Operations Currency ---- ---- ----- ---------- -------- ---- ---- ----- ---------- -------- Sales to customers by segment of business Consumer U.S. $1,487 1,384 7.4% 7.4 - $2,901 2,742 5.8% 5.8 - International 1,991 2,035 (2.2) (1.1) (1.1) 3,805 3,872 (1.7) (1.3) (0.4) 3,478 3,419 1.7 2.3 (0.6) 6,706 6,614 1.4 1.6 (0.2) ----- ----- --- --- ---- ----- ----- --- --- ---- Pharmaceutical U.S. 5,010 5,144 (2.6) (2.6) - 9,882 10,081 (2.0) (2.0) - International 3,625 3,510 3.3 6.1 (2.8) 6,998 6,751 3.7 5.9 (2.2) 8,635 8,654 (0.2) 1.0 (1.2) 16,880 16,832 0.3 1.2 (0.9) ----- ----- ---- --- ---- ------ ------ --- --- ---- Medical Devices U.S. 3,229 3,044 6.1 6.1 - 6,321 6,070 4.1 4.1 - International 3,497 3,365 3.9 5.8 (1.9) 6,698 6,448 3.9 5.3 (1.4) 6,726 6,409 4.9 5.9 (1.0) 13,019 12,518 4.0 4.7 (0.7) ----- ----- --- --- ---- ------ ------ --- --- ---- U.S. 9,726 9,572 1.6 1.6 - 19,104 18,893 1.1 1.1 - International 9,113 8,910 2.3 4.4 (2.1) 17,501 17,071 2.5 4.0 (1.5) Worldwide $18,839 18,482 1.9% 2.9 (1.0) $36,605 35,964 1.8% 2.5 (0.7) --------- ------- ------ --- --- ---- ------- ------ --- --- ----
Johnson & Johnson and Subsidiaries ---------------------------------- Supplementary Sales Data (Unaudited; Dollars in Millions) SECOND QUARTER SIX MONTHS ------------------------------- -------------- ---------- Percent Change Percent Change -------------- -------------- 2017 2016 Total Operations Currency 2017 2016 Total Operations Currency ---- ---- ----- ---------- -------- ---- ---- ----- ---------- -------- Sales to customers by geographic area U.S. $9,726 9,572 1.6% 1.6 - $19,104 18,893 1.1% 1.1 - ---- ------ ----- --- --- --- ------- ------ --- --- --- Europe 4,232 4,090 3.5 6.7 (3.2) 8,090 7,937 1.9 5.4 (3.5) Western Hemisphere excluding U.S. 1,499 1,542 (2.8) (2.7) (0.1) 2,953 2,873 2.8 (0.2) 3.0 Asia-Pacific, Africa 3,382 3,278 3.2 4.9 (1.7) 6,458 6,261 3.1 4.1 (1.0) International 9,113 8,910 2.3 4.4 (2.1) 17,501 17,071 2.5 4.0 (1.5) ------------- ----- ----- --- --- ---- ------ ------ --- --- ---- Worldwide $18,839 18,482 1.9% 2.9 (1.0) $36,605 35,964 1.8% 2.5 (0.7) --------- ------- ------ --- --- ---- ------- ------ --- --- ----
Johnson & Johnson and Subsidiaries ---------------------------------- Condensed Consolidated Statement of Earnings (Unaudited; in Millions Except Per Share Figures) SECOND QUARTER ------------------------------------------------ -------------- 2017 2016 Percent ---- ---- Percent Percent Increase Amount to Sales Amount to Sales (Decrease) Sales to customers $18,839 100.0 $18,482 100.0 1.9 ------------------ ------- ----- ------- ----- --- Cost of products sold 5,823 30.9 5,336 28.9 9.1 Selling, marketing and administrative expenses 5,262 28.0 5,176 28.0 1.7 Research and development expense 2,285 12.1 2,264 12.2 0.9 In-process research and development - - 29 0.2 Interest (income) expense, net 122 0.6 102 0.6 Other (income) expense, net 588 3.1 557 3.0 Restructuring 11 0.1 114 0.6 ------------- --- --- --- --- Earnings before provision for taxes on income 4,748 25.2 4,904 26.5 (3.2) Provision for taxes on income 921 4.9 907 4.9 1.5 --- Net earnings $3,827 20.3 $3,997 21.6 (4.3) ------------ ------ ---- ------ ---- ---- Net earnings per share (Diluted) $1.40 $1.43 (2.1) Average shares outstanding (Diluted) 2,741.5 2,794.2 Effective tax rate 19.4% 18.5% Adjusted earnings before provision for taxes and net earnings (1) Earnings before provision for taxes on income $6,285 33.4 $6,024 32.6 4.3 Net earnings $5,017 26.6 $4,866 26.3 3.1 Net earnings per share (Diluted) $1.83 $1.74 5.2 Effective tax rate 20.2% 19.2% ------------------ ---- ---- (1) See Reconciliation of Non-GAAP Financial Measures.
Johnson & Johnson and Subsidiaries ---------------------------------- Condensed Consolidated Statement of Earnings (Unaudited; in Millions Except Per Share Figures) SIX MONTHS ------------------------------------------------ ---------- 2017 2016 Percent ---- ---- Percent Percent Increase Amount to Sales Amount to Sales (Decrease) Sales to customers $36,605 100.0 $35,964 100.0 1.8 ------------------ ------- ----- ------- ----- --- Cost of products sold 11,209 30.6 10,665 29.6 5.1 Selling, marketing and administrative expenses 9,999 27.3 9,864 27.4 1.4 Research and development expense 4,345 11.9 4,277 11.9 1.6 In-process research and development - - 29 0.1 Interest (income) expense, net 205 0.6 179 0.5 Other (income) expense, net 428 1.2 518 1.4 Restructuring 96 0.2 234 0.7 ------------- --- --- --- --- Earnings before provision for taxes on income 10,323 28.2 10,198 28.4 1.2 Provision for taxes on income 2,074 5.7 1,744 4.9 18.9 ---- Net earnings $8,249 22.5 $8,454 23.5 (2.4) ------------ ------ ---- ------ ---- ---- Net earnings per share (Diluted) $3.00 $3.02 (0.7) Average shares outstanding (Diluted) 2,749.4 2,800.9 Effective tax rate 20.1% 17.1% Adjusted earnings before provision for taxes and net earnings (1) Earnings before provision for taxes on income $12,388 33.8 $11,825 32.9 4.8 Net earnings $10,055 27.5 $9,720 27.0 3.4 Net earnings per share (Diluted) $3.66 $3.47 5.5 Effective tax rate 18.8% 17.8% ------------------ ---- ---- (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) 2017 2016 (Decr.) 2017 2016 (Decr.) ------------------------------------------ ---- ---- ------ ---- ---- ------ Earnings before provision for taxes on income - as reported $4,748 4,904 (3.2)% $10,323 10,198 1.2% Intangible asset amortization expense 480 326 809 608 Litigation expense, net 493 600 493 666 Restructuring/Other (1) 128 141 289 278 Actelion acquisition related cost 213 - 213 - Diabetes asset impairment 182 - 182 - AMO acquisition related cost 41 - 79 - In-process research and development - 29 - 29 Other - 24 - 46 Earnings before provision for taxes on income - as adjusted $6,285 6,024 4.3% $12,388 11,825 4.8% ------ ----- --- ------- ------ --- Net Earnings - as reported $3,827 3,997 (4.3)% $8,249 8,454 (2.4)% Intangible asset amortization expense 378 238 622 443 Litigation expense, net 352 493 352 549 Restructuring/Other 101 97 222 217 Actelion acquisition related cost 199 - 199 - Diabetes asset impairment 125 - 125 - AMO acquisition related cost 35 - 286 - In-process research and development - 23 - 23 Other - 18 - 34 Net Earnings - as adjusted $5,017 4,866 3.1% $10,055 9,720 3.4% ------ ----- --- ------- ----- --- Diluted Net Earnings per share - as reported $1.40 1.43 (2.1)% $3.00 3.02 (0.7)% Intangible asset amortization expense 0.14 0.08 0.23 0.16 Litigation expense, net 0.13 0.18 0.13 0.19 Restructuring/Other 0.03 0.03 0.08 0.08 Actelion acquisition related cost 0.07 - 0.07 - Diabetes asset impairment 0.05 - 0.05 - AMO acquisition related cost 0.01 - 0.10 - In-process research and development - 0.01 - 0.01 Other - 0.01 - 0.01 Diluted Net Earnings per share - as adjusted $1.83 1.74 5.2% $3.66 3.47 5.5% ----- ---- --- ----- ---- --- Operational Diluted Net Earnings per share - as adjusted at 2015 foreign currency exchange rates 1.74 3.51 Impact of currency at 2016 foreign currency exchange rates 0.03 - 0.06 (0.04) Operational Diluted Net Earnings per share - as adjusted at 2016 foreign currency exchange rates $1.86 1.74 6.9% $3.72 3.47 7.2% ----- ---- --- ----- ---- --- (1)Includes $13M recorded in cost of products sold and $104M recorded in other (income) expense for the second quarter 2017. Includes $17M recorded in cost of products sold and $176M recorded in other (income) expense for six months 2017 YTD. Includes $7M recorded in cost of products sold and $20M recorded in other (income) expense for the second quarter 2016. Includes $24M recorded in cost of products sold and $20M recorded in other (income) expense for six months 2016 YTD.
Johnson & Johnson and Subsidiaries Reconciliation of Non-GAAP Financial Measure Operational Sales Growth Excluding Acquisitions and Divestitures ---------------------------------------------------------------- SECOND QUARTER 2017 ACTUAL vs. 2016 ACTUAL Segments -------- Consumer Pharmaceutical Medical Devices Total -------- -------------- --------------- ----- Operational %(1) --------------- WW As Reported: 2.3% 1.0% 5.9% 2.9% --------------- --- --- --- --- U.S. 7.4% (2.6)% 6.1% 1.6% International (1.1)% 6.1% 5.8% 4.4% Beauty Vogue (2.7) (0.5) U.S. (5.9) (0.9) International (0.6) (0.1) Other Neuroscience Controlled Substance Raw Material and API Business 0.6 0.3 U.S. 0.8 0.4 International 0.5 0.2 Diagnostics Ortho-Clinical Diagnostics 0.5 0.2 U.S. 0.0 0.0 International 1.0 0.3 Vision Care Abbott Medical Optics (5.1) (1.8) U.S. (4.6) (1.5) International (5.6) (2.1) Pulmonary Hypertension Actelion (1.1) (0.5) U.S. (0.8) (0.4) International (1.5) (0.6) All Other Acquisitions and Divestitures (0.4) (0.2) (0.1) U.S. (0.3) (0.7) (0.2) International (0.6) 0.2 (0.1) WW Ops excluding Acquisitions and Divestitures (0.8)% 0.5% 1.1% 0.5% ============================================== ===== === === === U.S. 1.2% (2.6)% 0.8% (1.0)% International (2.3)% 5.1% 1.4% 2.0% (1)Operational growth excludes the effect of translational currency
Johnson & Johnson and Subsidiaries Reconciliation of Non-GAAP Financial Measure Operational Sales Growth Excluding Acquisitions and Divestitures ---------------------------------------------------------------- SIX MONTHS 2017 ACTUAL vs. 2016 ACTUAL Segments -------- Consumer Pharmaceutical Medical Devices Total -------- -------------- --------------- ----- Operational %(1) --------------- WW As Reported: 1.6% 1.2% 4.7% 2.5% --------------- --- --- --- --- U.S. 5.8% (2.0)% 4.1% 1.1% International (1.3)% 5.9% 5.3% 4.0% Beauty Vogue (2.9) (0.5) U.S. (6.1) (0.9) International (0.7) (0.2) Other Neuroscience Controlled Substance Raw Material and API Business 0.7 0.3 U.S. 0.9 0.5 International 0.4 0.2 Diagnostics Ortho-Clinical Diagnostics 0.5 0.2 U.S. 0.0 0.0 International 1.0 0.4 Vision Care Abbott Medical Optics (3.6) (1.3) U.S. (3.2) (1.0) International (4.0) (1.5) Pulmonary Hypertension Actelion (0.6) (0.3) U.S. (0.4) (0.2) International (0.8) (0.3) All Other Acquisitions and Divestitures (0.3) (0.2) (0.1) U.S. (0.5) (0.7) (0.4) International (0.1) 0.2 0.1 WW Ops excluding Acquisitions and Divestitures (1.6)% 1.3% 1.4% 0.8% ============================================== ===== === === === U.S. (0.8)% (1.5)% 0.2% (0.9)% International (2.1)% 5.5% 2.5% 2.7% (1)Operational growth excludes the effect of translational currency
REPORTED SALES vs. PRIOR PERIOD ($MM) ------------------------------------ SECOND QUARTER SIX MONTHS -------------- ---------- % Change % Change -------- -------- 2017 2016 Reported Operational (1) Currency 2017 2016 Reported Operational (1) Currency ---- ---- -------- -------------- -------- ---- ---- -------- -------------- -------- CONSUMER SEGMENT (2) (3) ----------------------- BABY CARE --------- US $113 $126 -10.3% -10.3% - $226 $247 -8.5% -8.5% - Intl 381 404 -5.7% -5.3% -0.4% 723 766 -5.6% -5.7% 0.1% --- --- --- --- WW 494 530 -6.8% -6.5% -0.3% 949 1,013 -6.3% -6.3% 0.0% BEAUTY ------ US 649 554 17.1% 17.1% - 1,216 1,038 17.1% 17.1% - Intl 427 422 1.2% 3.1% -1.9% 841 817 2.9% 4.0% -1.1% --- --- --- --- WW 1,076 976 10.2% 11.0% -0.8% 2,057 1,855 10.9% 11.4% -0.5% ORAL CARE --------- US 150 159 -5.7% -5.7% - 306 329 -7.0% -7.0% - Intl 244 244 0.0% 0.8% -0.8% 450 459 -2.0% -1.7% -0.3% --- --- --- --- WW 394 403 -2.2% -1.7% -0.5% 756 788 -4.1% -3.9% -0.2% OTC --- US 432 405 6.7% 6.7% - 909 871 4.4% 4.4% - Intl 574 591 -2.9% -1.1% -1.8% 1,110 1,124 -1.2% -0.2% -1.0% --- --- ----- ----- WW 1,006 996 1.0% 2.1% -1.1% 2,019 1,995 1.2% 1.8% -0.6% WOMEN'S HEALTH -------------- US 3 7 -57.1% -57.1% - 6 13 -53.8% -53.8% - Intl 273 276 -1.1% -1.9% 0.8% 512 521 -1.7% -3.0% 1.3% --- --- --- --- WW 276 283 -2.5% -3.3% 0.8% 518 534 -3.0% -4.2% 1.2% WOUND CARE / OTHER ------------------ US 140 133 5.3% 5.3% - 238 244 -2.5% -2.5% - Intl 92 98 -6.1% -4.8% -1.3% 169 185 -8.6% -8.3% -0.3% --- --- --- --- WW 232 231 0.4% 0.9% -0.5% 407 429 -5.1% -5.0% -0.1% TOTAL CONSUMER -------------- US 1,487 1,384 7.4% 7.4% - 2,901 2,742 5.8% 5.8% - Intl 1,991 2,035 -2.2% -1.1% -1.1% 3,805 3,872 -1.7% -1.3% -0.4% ----- ----- ----- ----- WW $3,478 $3,419 1.7% 2.3% -0.6% $6,706 $6,614 1.4% 1.6% -0.2% ====== ====== ====== ====== REPORTED SALES vs. PRIOR PERIOD ($MM) ------------------------------------ SECOND QUARTER SIX MONTHS -------------- ---------- % Change % Change -------- -------- 2017 2016 Reported Operational (1) Currency 2017 2016 Reported Operational (1) Currency ---- ---- -------- -------------- -------- ---- ---- -------- -------------- -------- PHARMACEUTICAL SEGMENT (2) (3) ----------------------------- IMMUNOLOGY ---------- US $2,101 $2,224 -5.5% -5.5% - $4,224 $4,395 -3.9% -3.9% - Intl 858 814 5.4% 8.0% -2.6% 1,665 1,553 7.2% 8.5% -1.3% --- --- ----- ----- WW 2,959 3,038 -2.6% -1.9% -0.7% 5,889 5,948 -1.0% -0.7% -0.3% REMICADE -------- US 1,064 1,236 -13.9% -13.9% - 2,246 2,447 -8.2% -8.2% - US Exports (4) 127 185 -31.4% -31.4% - 292 418 -30.1% -30.1% - Intl 339 359 -5.6% -3.4% -2.2% 664 694 -4.3% -4.0% -0.3% --- --- --- --- WW 1,530 1,780 -14.0% -13.6% -0.4% 3,202 3,559 -10.0% -9.9% -0.1% SIMPONI / SIMPONI ARIA ---------------------- US 230 244 -5.7% -5.7% - 459 460 -0.2% -0.2% - Intl 209 204 2.5% 4.6% -2.1% 408 378 7.9% 8.6% -0.7% --- --- --- --- WW 439 448 -2.0% -1.0% -1.0% 867 838 3.5% 3.8% -0.3% STELARA ------- US 680 559 21.6% 21.6% - 1,227 1,070 14.7% 14.7% - Intl 303 245 23.7% 27.5% -3.8% 579 469 23.5% 26.8% -3.3% --- --- --- --- WW 983 804 22.3% 23.4% -1.1% 1,806 1,539 17.3% 18.3% -1.0% OTHER IMMUNOLOGY ---------------- US - - - - - - - - - - Intl 7 6 16.7% 15.8% 0.9% 14 12 16.7% 14.0% 2.7% --- --- --- --- WW 7 6 16.7% 15.8% 0.9% 14 12 16.7% 14.0% 2.7% INFECTIOUS DISEASES ------------------- US 341 362 -5.8% -5.8% - 667 720 -7.4% -7.4% - Intl 451 467 -3.4% -1.5% -1.9% 874 885 -1.2% 0.6% -1.8% --- --- --- --- WW 792 829 -4.5% -3.4% -1.1% 1,541 1,605 -4.0% -3.0% -1.0% EDURANT ------- US 17 14 21.4% 21.4% - 29 25 16.0% 16.0% - Intl 162 126 28.6% 30.9% -2.3% 299 234 27.8% 30.6% -2.8% --- --- --- --- WW 179 140 27.9% 30.0% -2.1% 328 259 26.6% 29.2% -2.6% PREZISTA / PREZCOBIX / REZOLSTA ------------------------------- US 278 273 1.8% 1.8% - 537 550 -2.4% -2.4% - Intl 176 186 -5.4% -2.9% -2.5% 347 361 -3.9% -1.4% -2.5% --- --- --- --- WW 454 459 -1.1% -0.1% -1.0% 884 911 -3.0% -2.0% -1.0% OTHER INFECTIOUS DISEASES ------------------------- US 46 75 -38.7% -38.7% - 101 145 -30.3% -30.3% - Intl 113 155 -27.1% -26.3% -0.8% 228 290 -21.4% -21.5% 0.1% --- --- --- --- WW 159 230 -30.9% -30.4% -0.5% 329 435 -24.4% -24.4% 0.0% --- --- ----- ----- ---- --- --- ----- ----- --- See footnotes at end of schedule REPORTED SALES vs. PRIOR PERIOD ($MM) ------------------------------------ SECOND QUARTER SIX MONTHS -------------- ---------- % Change % Change -------- -------- 2017 2016 Reported Operational (1) Currency 2017 2016 Reported Operational (1) Currency ---- ---- -------- -------------- -------- ---- ---- -------- -------------- -------- NEUROSCIENCE ------------ US 620 695 -10.8% -10.8% - 1,284 1,375 -6.6% -6.6% - Intl 847 907 -6.6% -4.1% -2.5% 1,680 1,776 -5.4% -3.5% -1.9% --- --- ----- ----- WW 1,467 1,602 -8.4% -7.0% -1.4% 2,964 3,151 -5.9% -4.9% -1.0% CONCERTA / METHYLPHENIDATE -------------------------- US 76 129 -41.1% -41.1% - 184 263 -30.0% -30.0% - Intl 105 109 -3.7% -1.3% -2.4% 206 206 0.0% 1.3% -1.3% --- --- --- --- WW 181 238 -23.9% -22.8% -1.1% 390 469 -16.8% -16.2% -0.6% INVEGA SUSTENNA / XEPLION / TRINZA ---------------------------------- US 387 339 14.2% 14.2% - 759 644 17.9% 17.9% - Intl 242 221 9.5% 13.1% -3.6% 474 429 10.5% 13.7% -3.2% --- --- --- --- WW 629 560 12.3% 13.7% -1.4% 1,233 1,073 14.9% 16.2% -1.3% RISPERDAL CONSTA ---------------- US 91 100 -9.0% -9.0% - 186 195 -4.6% -4.6% - Intl 116 130 -10.8% -8.1% -2.7% 228 266 -14.3% -12.0% -2.3% --- --- --- --- WW 207 230 -10.0% -8.5% -1.5% 414 461 -10.2% -8.9% -1.3% OTHER NEUROSCIENCE ------------------ US 66 127 -48.0% -48.0% - 155 273 -43.2% -43.2% - Intl 384 447 -14.1% -12.1% -2.0% 772 875 -11.8% -10.6% -1.2% --- --- --- --- WW 450 574 -21.6% -20.0% -1.6% 927 1,148 -19.3% -18.4% -0.9% ONCOLOGY -------- US 697 569 22.5% 22.5% - 1,361 1,118 21.7% 21.7% - Intl 1,030 905 13.8% 17.0% -3.2% 1,960 1,710 14.6% 17.6% -3.0% ----- --- ----- ----- WW 1,727 1,474 17.2% 19.2% -2.0% 3,321 2,828 17.4% 19.2% -1.8% DARZALEX -------- US 212 95 * * - 413 196 * * - Intl 87 13 * * ** 141 13 * * ** --- --- --- --- WW 299 108 * * ** 554 209 * * ** IMBRUVICA --------- US 202 144 40.3% 40.3% - 392 276 42.0% 42.0% - Intl 248 151 64.2% 69.4% -5.2% 467 280 66.8% 71.4% -4.6% --- --- --- --- WW 450 295 52.5% 55.1% -2.6% 859 556 54.5% 56.8% -2.3% VELCADE ------- US - - - - - - - - - - Intl 290 342 -15.2% -12.6% -2.6% 570 646 -11.8% -9.0% -2.8% --- --- --- --- WW 290 342 -15.2% -12.6% -2.6% 570 646 -11.8% -9.0% -2.8% ZYTIGA ------ US 241 286 -15.7% -15.7% - 474 558 -15.1% -15.1% - Intl 317 315 0.6% 3.2% -2.6% 607 601 1.0% 3.0% -2.0% --- --- --- --- WW 558 601 -7.2% -5.8% -1.4% 1,081 1,159 -6.7% -5.7% -1.0% OTHER ONCOLOGY -------------- US 42 44 -4.5% -4.5% - 82 88 -6.8% -6.8% - Intl 88 84 4.8% 7.1% -2.3% 175 170 2.9% 5.5% -2.6% --- --- --- --- WW 130 128 1.6% 3.1% -1.5% 257 258 -0.4% 1.3% -1.7% PULMONARY HYPERTENSION (5) ------------------------- US 40 - ** ** - 40 - ** ** - Intl 51 - ** ** - 51 - ** ** - --- --- --- --- WW 91 - ** ** - 91 - ** ** - OPSUMIT - ------- US 24 - ** ** - 24 - ** ** - Intl 21 - ** ** - 21 - ** ** - --- --- --- --- WW 45 - ** ** - 45 - ** ** - TRACLEER - -------- US 2 - ** ** - 2 - ** ** - Intl 24 - ** ** - 24 - ** ** - --- --- --- --- WW 26 - ** ** - 26 - ** ** - UPTRAVI - ------- US 8 - ** ** - 8 - ** ** - Intl 1 - ** ** - 1 - ** ** - --- --- --- --- WW 9 - ** ** - 9 - ** ** - OTHER(6) - ------- US 6 - ** ** - 6 - ** ** - Intl 5 - ** ** - 5 - ** ** - --- --- --- --- WW 11 - ** ** - 11 - ** ** - CARDIOVASCULAR / METABOLISM / OTHER ----------------------------------- US 1,211 1,294 -6.4% -6.4% - 2,306 2,473 -6.8% -6.8% - Intl 388 417 -7.0% -3.0% -4.0% 768 827 -7.1% -3.7% -3.4% --- --- --- --- WW 1,599 1,711 -6.5% -5.5% -1.0% 3,074 3,300 -6.8% -6.0% -0.8% XARELTO ------- US 642 594 8.1% 8.1% - 1,155 1,161 -0.5% -0.5% - Intl - - - - - - - - - - --- --- --- --- WW 642 594 8.1% 8.1% - 1,155 1,161 -0.5% -0.5% - INVOKANA / INVOKAMET -------------------- US 256 348 -26.4% -26.4% - 503 645 -22.0% -22.0% - Intl 39 35 11.4% 16.8% -5.4% 76 63 20.6% 23.9% -3.3% --- --- --- --- WW 295 383 -23.0% -22.5% -0.5% 579 708 -18.2% -17.9% -0.3% PROCRIT / EPREX --------------- US 174 230 -24.3% -24.3% - 343 413 -16.9% -16.9% - Intl 81 92 -12.0% -9.7% -2.3% 159 183 -13.1% -11.3% -1.8% --- --- --- --- WW 255 322 -20.8% -20.1% -0.7% 502 596 -15.8% -15.3% -0.5% OTHER ----- US 139 122 13.9% 13.9% - 305 254 20.1% 20.1% - Intl 268 290 -7.6% -3.3% -4.3% 533 581 -8.3% -4.4% -3.9% --- --- --- WW 407 412 -1.2% 1.9% -3.1% 838 835 0.4% 3.1% -2.7% TOTAL PHARMACEUTICAL -------------------- US 5,010 5,144 -2.6% -2.6% - 9,882 10,081 -2.0% -2.0% - Intl 3,625 3,510 3.3% 6.1% -2.8% 6,998 6,751 3.7% 5.9% -2.2% ----- ----- ----- ----- WW $8,635 8,654 -0.2% 1.0% -1.2% $16,880 16,832 0.3% 1.2% -0.9% ====== ===== ======= ====== See footnotes at end of schedule REPORTED SALES vs. PRIOR PERIOD ($MM) ------------------------------------ SECOND QUARTER SIX MONTHS -------------- ---------- % Change % Change -------- -------- MEDICAL DEVICES SEGMENT (2) 2017 2016 Reported Operational (1) Currency 2017 2016 Reported Operational (1) Currency -------------------------- ---- ---- -------- -------------- -------- ---- ---- -------- -------------- -------- CARDIOVASCULAR -------------- US $265 235 12.8% 12.8% - $524 466 12.4% 12.4% - Intl 258 235 9.8% 12.3% -2.5% 498 447 11.4% 13.2% -1.8% --- --- --- --- WW 523 470 11.3% 12.6% -1.3% 1,022 913 11.9% 12.8% -0.9% DIABETES CARE ------------- US 160 177 -9.6% -9.6% - 314 357 -12.0% -12.0% - Intl 261 294 -11.2% -9.5% -1.7% 506 543 -6.8% -5.5% -1.3% --- --- --- --- WW 421 471 -10.6% -9.5% -1.1% 820 900 -8.9% -8.1% -0.8% DIAGNOSTICS ----------- US - - - - - - - - - - Intl - 31 ** ** ** 1 59 ** ** ** --- --- --- --- WW - 31 ** ** ** 1 59 ** ** ** ORTHOPAEDICS ------------ US 1,387 1,364 1.7% 1.7% - 2,766 2,756 0.4% 0.4% - Intl 956 991 -3.5% -1.4% -2.1% 1,902 1,940 -2.0% -0.3% -1.7% --- --- ----- ----- WW 2,343 2,355 -0.5% 0.4% -0.9% 4,668 4,696 -0.6% 0.1% -0.7% HIPS ---- US 208 197 5.6% 5.6% - 417 400 4.3% 4.3% - Intl 142 152 -6.6% -4.3% -2.3% 285 291 -2.1% -0.1% -2.0% --- --- --- --- WW 350 349 0.3% 1.3% -1.0% 702 691 1.6% 2.4% -0.8% KNEES ----- US 236 229 3.1% 3.1% - 482 473 1.9% 1.9% - Intl 149 156 -4.5% -2.5% -2.0% 301 301 0.0% 2.1% -2.1% --- --- --- --- WW 385 385 0.0% 0.8% -0.8% 783 774 1.2% 2.0% -0.8% TRAUMA ------ US 390 381 2.4% 2.4% - 781 762 2.5% 2.5% - Intl 253 255 -0.8% 1.1% -1.9% 504 516 -2.3% -1.0% -1.3% --- --- --- --- WW 643 636 1.1% 1.9% -0.8% 1,285 1,278 0.5% 1.0% -0.5% SPINE & OTHER ------------- US 553 557 -0.7% -0.7% - 1,086 1,121 -3.1% -3.1% - Intl 412 428 -3.7% -1.6% -2.1% 812 832 -2.4% -0.7% -1.7% --- --- --- --- WW 965 985 -2.0% -1.1% -0.9% 1,898 1,953 -2.8% -2.1% -0.7% SURGERY ------- US 1,012 1,020 -0.8% -0.8% - 2,007 2,001 0.3% 0.3% - Intl 1,372 1,377 -0.4% 1.6% -2.0% 2,648 2,624 0.9% 2.4% -1.5% ----- ----- ----- ----- WW 2,384 2,397 -0.5% 0.6% -1.1% 4,655 4,625 0.6% 1.5% -0.9% ADVANCED -------- US 400 389 2.8% 2.8% - 792 741 6.9% 6.9% - Intl 533 520 2.5% 4.9% -2.4% 1,018 984 3.5% 5.4% -1.9% --- --- ----- --- WW 933 909 2.6% 4.0% -1.4% 1,810 1,725 4.9% 6.0% -1.1% GENERAL ------- US 423 421 0.5% 0.5% - 846 840 0.7% 0.7% - Intl 691 706 -2.1% -0.2% -1.9% 1,342 1,357 -1.1% 0.4% -1.5% --- --- ----- ----- WW 1,114 1,127 -1.2% 0.0% -1.2% 2,188 2,197 -0.4% 0.5% -0.9% SPECIALTY --------- US 189 210 -10.0% -10.0% - 369 420 -12.1% -12.1% - Intl 148 151 -2.0% -1.0% -1.0% 288 283 1.8% 1.7% 0.1% --- --- --- --- WW 337 361 -6.6% -6.2% -0.4% 657 703 -6.5% -6.5% 0.0% VISION CARE ----------- US 405 248 63.3% 63.3% - 710 490 44.9% 44.9% - Intl 650 437 48.7% 50.3% -1.6% 1,143 835 36.9% 37.6% -0.7% --- --- ----- --- WW 1,055 685 54.0% 55.0% -1.0% 1,853 1,325 39.8% 40.2% -0.4% CONTACT LENSES / OTHER ---------------------- US 274 248 10.5% 10.5% - 530 490 8.2% 8.2% - Intl 479 437 9.6% 11.2% -1.6% 906 835 8.5% 9.2% -0.7% --- --- --- --- WW 753 685 9.9% 10.9% -1.0% 1,436 1,325 8.4% 8.8% -0.4% SURGICAL -------- US 131 - ** ** - 180 - ** ** - Intl 171 - ** ** - 237 - ** ** - --- --- --- --- WW 302 - ** ** - 417 - ** ** - TOTAL MEDICAL DEVICES --------------------- US 3,229 3,044 6.1% 6.1% - 6,321 6,070 4.1% 4.1% - Intl 3,497 3,365 3.9% 5.8% -1.9% 6,698 6,448 3.9% 5.3% -1.4% ----- ----- ----- ----- WW $6,726 6,409 4.9% 5.9% -1.0% $13,019 12,518 4.0% 4.7% -0.7% ====== ===== ======= ====== * 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) Actelion acquisition completed June 16, 2017 (6) Includes Non-Pulmonary Hypertension products
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SOURCE Johnson & Johnson