Johnson & Johnson Reports 2019 First-Quarter Results:
NEW BRUNSWICK, N.J., April 16, 2019 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced results for first-quarter 2019. "Our strong first-quarter results reflect continued underlying operational sales and adjusted EPS growth," said Alex Gorsky, Chairman and Chief Executive Officer. "At the same time, we remain focused on investing in innovative technologies and platforms that will make a meaningful difference in the lives of patients around the world. I am proud of our global colleagues' collective efforts to deliver on our long-term goals and our ability to create value for all of our stakeholders."
OVERALL FINANCIAL RESULTS:
FIRST QUARTER ($ in Millions, except EPS) 2019 2018 % Change --- --- Reported Sales $20,021 $20,009 0.1% --- Net Earnings 3,749 4,367 (14.2) --- --- EPS (diluted) $1.39 $1.60 (13.1)% --- Non-GAAP* FIRST QUARTER ($ in Millions, except EPS) 2019 2018 % Change --- --- Operational Sales N/A N/A 3.9% --- Adjusted Operational Sales N/A N/A 5.5 --- Adjusted Net Earnings 5,661 5,635 0.5 --- --- Adjusted EPS (diluted) $2.10 $2.06 1.9% --- * Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
REGIONAL SALES RESULTS:
FIRST QUARTER % Change ($ in Millions) 2019 2018 Reported Operational 1,2 Currency Adjusted Operational1,3 --- --- U.S. $10,129 $9,951 1.8% 1.8 3.1 --- International 9,892 10,058 (1.7) 6.0 (7.7) 7.9 --- --- Worldwide $20,021 $20,009 0.1% 3.9 (3.8) 5.5 --- (1) Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules (2) Excludes the impact of translational currency (3) Excludes the net impact of acquisitions and divestitures and translational currency Note: values may have been rounded
SEGMENT SALES RESULTS:
FIRST QUARTER % Change ($ in Millions) 2019 2018 Reported Operational 1,2 Currency Adjusted Operational1,3 --- --- Consumer $3,318 $3,398 (2.4)% 2.2 (4.6) 0.7 --- Pharmaceuticals 10,244 9,844 4.1 7.9 (3.8) 7.9 --- --- Medical Devices 6,459 6,767 (4.6) (1.0) (3.6) 4.3 --- --- Worldwide $20,021 $20,009 0.1% 3.9 (3.8) 5.5 --- (1) Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules (2) Excludes the impact of translational currency (3) Excludes the net impact of acquisitions and divestitures and translational currency Note: values may have been rounded
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)SEGMENT COMMENTARY:
Consumer
Consumer worldwide operational sales, excluding the net impact of acquisitions and divestitures grew 0.7%* driven by over-the-counter products including TYLENOL analgesics, digestive health products and international anti-smoking aids; and NEUTROGENA beauty products, primarily offset by lower sales of baby care products.
Pharmaceutical
Pharmaceutical worldwide operational sales, excluding the net impact of acquisitions and divestitures grew 7.9%* driven by STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, IMBRUVICA (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer, DARZALEX (daratumumab), for the treatment of multiple myeloma, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults, PREZISTA/PREZCOBIX/REZOLSTA/SYMTUZA (D/C/F/TAF) for the treatment of human immunodeficiency virus type 1 (HIV-1) infection, UPTRAVI (selexipag), an oral prostacyclin receptor agonist used to treat pulmonary arterial hypertension and reduce hospitalization, and ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with non-metastatic castration-resistant prostate cancer partially offset by declines in REMICADE (infliximab), a biologic approved for the treatment of a number of immune-mediated inflammatory diseases, and U.S. ZYTIGA (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic, castration-resistant prostate cancer due to biosimilar and generic entrants.
Medical Devices
Worldwide Medical Devices operational sales, excluding the net impact of acquisitions and divestitures grew 4.3%* driven by the growth of electrophysiology products in the Interventional Solutions business; ACUVUE contact lenses in the Vision business; biosurgicals in the Advanced Surgery business; and wound closure products in the General Surgery business.
NOTABLE NEW ANNOUNCEMENTS IN THE QUARTER:
Acquisitions/Divestitures/Licenses
-- Completed the divestiture of Advanced Sterilization Products(1) (press release) -- Completed the acquisition of Auris Health, Inc.(1) commercially available robotic platform technology (press release) -- Entered into an exclusive worldwide collaboration and license agreement with MeiraGTx to develop gene therapy programs for inherited retinal diseases (press release)
Pipeline Updates --- Regulatory Approvals BALVERSA (erdafitinib) -Locally advanced or metastatic urothelial cancer (U.S.)(1) (press release) --- --- SPRAVATO (esketamine) - Treatment-resistant depression (U.S.) (press release) --- --- TREMFYA (guselkumab) - One-press patient- controlled injector (U.S.) (press release) --- --- DARZALEX (daratumumab) Split-dosing regimen (U.S.) (press release) --- --- IMBRUVICA (ibrutinib) plus obinutuzumab - Chronic lymphocytic leukemia (U.S.) (press release) --- --- Regulatory Submissions INVOKANA (canagliflozin) -Chronic kidney disease in patients with Type 2 diabetes (U.S.) (press release) --- --- DARZALEX (daratumumab) -Combination therapy for transplant eligible multiple myeloma patients (U.S.,EU) (press release - U.S.) (press release - EU) --- --- DARZALEX (daratumumab) -Combination therapy for transplant ineligible multiple myeloma patients (U.S.,EU) (press release - U.S.) (press release - EU) --- --- Other Antihistamine-releasing contact lens demonstrates positive Phase 3 results (press release) --- --- ACUVUE OASYS with TRANSITIONS LIGHT INTELLIGENT TECHNOLOGY availability (U.S) (press release) --- --- (1) Subsequent to the quarter
FULL YEAR 2019 GUIDANCE:
Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.
April 2019 January 2019 --- ($ in Billions, except EPS) Adjusted Operational Sales1,2 2.5% - 3.5% 2.0% - 3.0% Change vs. Prior Year --- --- Operational Sales(2) $82.0 to $82.8 $81.6 to $82.4 Change vs. Prior Year 0.5% - 1.5% 0.0% - 1.0% --- --- Estimated Reported Sales(3) $80.4 to $81.2 $80.4 to $81.2 Change vs. Prior Year (1.5%) -(0.5%) (1.5%) -(0.5%) --- --- Adjusted Operational EPS (Diluted)2,4 $8.73 to $8.83 $8.65 to $8.80 Change vs. Prior Year 6.7% - 7.9% 5.7% - 7.6% --- --- Adjusted EPS (Diluted)3,4 $8.53 to $8.63 $8.50 to $8.65 Change vs. Prior Year 4.3% - 5.5% 3.9% - 5.8% --- --- (1) Non-GAAP financial measure; excludes the net impact of acquisitions and divestitures (2) Non-GAAP financial measure; excludes the impact of translational currency (3) Calculated using Euro Average Rate: April 2019 = $1.12; Euro Average Rate: Jan 2019 = $1.14 (Illustrative purposes only) 4 Non-GAAP financial measure; excludes intangible amortization expense and special items
Other modeling considerations will be provided on the webcast.
WEBCAST INFORMATION:
Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website. A replay and podcast will be available approximately two hours after the live webcast in the Investors section of the company's website at events-and-presentations.
ABOUT JOHNSON & JOHNSON:
At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That's why for more than 130 years, we have aimed to keep people well at every age and every stage of life. Today, as the world's largest and most broadly-based health care company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.
NON-GAAP FINANCIAL MEASURES:
*Operational sales growth excluding the impact of translational currency, adjusted operational sales growth excluding the net impact of acquisitions and divestitures and translational currency, as well as adjusted net earnings, adjusted diluted earnings per share and adjusted operational diluted earnings per share excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investors section of the company's website at quarterly-results.
Copies of the financial schedules accompanying this earnings release are available on the company's website at quarterly-results. These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including adjusted income before tax by segment, a pharmaceutical pipeline of selected compounds in late stage development and a copy of today's earnings call presentation can also be found in the Investors section of the company's website at quarterly-results.
NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, market position and business strategy. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 30, 2018, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.
Johnson & Johnson and Subsidiaries --- Supplementary Sales Data (Unaudited; Dollars in Millions) FIRST QUARTER --- --- Percent Change 2019 2018 Total Operations Currency --- Sales to customers by segment of business Consumer U.S. $1,438 1,436 0.2 % 0.2 - International 1,880 1,962 (4.2) 3.7 (7.9) 3,318 3,398 (2.4) 2.2 (4.6) --- Pharmaceutical U.S. 5,582 5,354 4.3 4.3 International 4,662 4,490 3.9 12.2 (8.3) 10,244 9,844 4.1 7.9 (3.8) --- Medical Devices U.S. 3,109 3,161 (1.6) (1.6) International 3,350 3,606 (7.1) (0.3) (6.8) 6,459 6,767 (4.6) (1.0) (3.6) --- U.S. 10,129 9,951 1.8 1.8 International 9,892 10,058 (1.7) 6.0 (7.7) Worldwide $20,021 20,009 0.1 % 3.9 (3.8) --- --- Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
Johnson & Johnson and Subsidiaries --- Supplementary Sales Data (Unaudited; Dollars in Millions) FIRST QUARTER --- --- Percent Change 2019 2018 Total Operations Currency --- Sales to customers by geographic area U.S. $10,129 9,951 1.8 % 1.8 --- --- Europe 4,609 4,797 (3.9) 4.5 (8.4) Western Hemisphere excluding U.S. 1,503 1,567 (4.1) 8.7 (12.8) Asia-Pacific, Africa 3,780 3,694 2.3 6.9 (4.6) International 9,892 10,058 (1.7) 6.0 (7.7) --- --- Worldwide $20,021 20,009 0.1 % 3.9 (3.8) --- --- Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
Johnson & Johnson and Subsidiaries --- Condensed Consolidated Statement of Earnings (Unaudited; in Millions Except Per Share Figures) FIRST QUARTER --- --- 2019 2018 Percent Percent Percent Increase Amount to Sales Amount to Sales (Decrease) Sales to customers $20,021 100.0 $20,009 100.0 0.1 Cost of products sold 6,615 33.0 6,614 33.1 0.0 --- Gross Profit 13,406 67.0 13,395 66.9 0.1 --- Selling, marketing and administrative expenses 5,219 26.1 5,263 26.3 (0.8) Research and development expense 2,858 14.3 2,404 12.0 18.9 In-process research and development 890 4.4 Interest (income) expense, net 3 0.0 145 0.7 Other (income) expense, net (22) (0.1) 60 0.3 Restructuring 36 0.2 42 0.2 --- Earnings before provision for taxes on income 4,422 22.1 5,481 27.4 (19.3) Provision for taxes on income 673 3.4 1,114 5.6 (39.6) Net earnings 3,749 18.7 4,367 21.8 (14.2) --- Net earnings per share (Diluted) $1.39 $1.60 (13.1) Average shares outstanding (Diluted) 2,698.8 2,731.9 Effective tax rate 15.2 20.3 % % Adjusted earnings before provision for taxes and net earnings (1) Earnings before provision for taxes on income $6,867 34.3 $6,858 34.3 0.1 Net earnings $5,661 28.3 $5,635 28.2 0.5 Net earnings per share (Diluted) $2.10 $2.06 1.9 Effective tax rate 17.6 17.8 % % --- (1) See Reconciliation of Non-GAAP Financial Measures.
Johnson & Johnson and Subsidiaries Reconciliation of Non-GAAP Financial Measures First Quarter % Incr. / (Dollars in Millions Except Per Share Data) 2019 2018 (Decr.) --- Earnings before provision for taxes on income - as reported $4,422 5,481 (19.3) % Intangible asset amortization expense 1,130 1,115 In-process research and development 890 Litigation expense 423 Unrealized (gain)/loss on securities (158) 27 Restructuring/Other (1) 90 107 Actelion acquisition related cost 39 96 AMO acquisition related cost 28 21 Other 3 11 Earnings before provision for taxes on income - as adjusted $6,867 6,858 0.1 % Net Earnings - as reported $3,749 4,367 (14.2) % Intangible asset amortization expense 846 996 In-process research and development 703 Litigation expense 342 Unrealized (gain)/loss on securities (125) 21 Restructuring/Other 75 81 Actelion acquisition related cost 37 92 AMO acquisition related cost 23 17 Impact of tax legislation (2) 52 Other 11 9 Net Earnings - as adjusted $5,661 5,635 0.5 % Diluted Net Earnings per share - as reported $1.39 1.60 (13.1) % Intangible asset amortization expense 0.31 0.36 In-process research and development 0.26 Litigation expense 0.13 Unrealized (gain)/loss on securities (0.05) 0.01 Restructuring/Other 0.03 0.03 Actelion acquisition related cost 0.01 0.03 AMO acquisition related cost 0.01 0.01 Impact of tax legislation 0.02 Other 0.01 Diluted Net Earnings per share - as adjusted $2.10 2.06 1.9 % Operational Diluted Net Earnings per share - as adjusted at 2017 foreign 1.93 currency exchange rates Impact of currency at 2018 foreign currency exchange rates 0.08 0.13 Operational Diluted Net Earnings per share - as adjusted at 2018 foreign $2.18 2.06 5.8 % currency exchange rates (1) Includes $23M recorded in cost of products sold and $31M recorded in other (income) expense in the first quarter 2019, and $6M recorded in cost of products sold and $59M recorded in other (income) expense in the first quarter 2018 (2) Includes foreign currency translation
Johnson & Johnson and Subsidiaries Reconciliation of Non-GAAP Financial Measure Adjusted Operational Sales Growth --- FIRST QUARTER 2019 ACTUAL vs. 2018 ACTUAL Segments --- Consumer Pharmaceutical Medical Devices Total WW As Reported (2.4)% 4.1% (4.6)% 0.1% --- U.S. 0.2% 4.3% (1.6)% 1.8% International (4.2)% 3.9% (7.1)% (1.7)% WW Currency (4.6) (3.8) (3.6) (3.8) U.S. International (7.9) (8.3) (6.8) (7.7) WW Operational 2.2% 7.9% (1.0)% 3.9% --- U.S. 0.2% 4.3% (1.6)% 1.8% International 3.7% 12.2% (0.3)% 6.0% Beauty Nizoral 0.4 0.1 U.S. 0.3 0.0 International 0.5 0.1 OTC Zarbees (0.8) (0.1) U.S. (2.0) (0.3) International 0.0 0.0 Diabetes Care LifeScan 5.1 1.7 U.S. 3.8 1.2 International 6.2 2.3 Beauty RoC 0.8 0.1 U.S. 1.5 0.2 International 0.3 0.1 Beauty Dr. Ci Labo - Japan (2.1) (0.4) U.S. 0.0 0.0 International (3.6) (0.7) All Other Acquisitions and Divestitures 0.2 0.0 0.2 0.1 U.S. 0.0 0.0 0.3 0.1 International 0.4 0.0 0.0 0.1 WW Adjusted Operational 0.7% 7.9% 4.3% 5.5% === U.S. 0.0% 4.3% 2.5% 3.1% International 1.3% 12.2% 5.9% 7.9% Note: Percentages are based on actual, non-rounded figures and may not sum
REPORTED SALES vs. PRIOR PERIOD ($MM) FIRST QUARTER % Change 2019 2018 Reported Operational (1) Currency CONSUMER SEGMENT (2) --- BABY CARE --- US $87 $97 -10.9% -10.9% Intl 307 360 -14.8% -6.4% -8.4% WW 394 457 -14.0% -7.4% -6.6% BEAUTY --- US 588 611 -3.8% -3.8% Intl 502 473 6.2% 13.1% -6.9% WW 1,090 1,084 0.6% 3.6% -3.0% ORAL CARE --- US 151 157 -3.5% -3.5% Intl 216 222 -2.8% 4.6% -7.4% WW 367 379 -3.1% 1.2% -4.3% OTC --- US 507 465 9.1% 9.1% Intl 580 607 -4.6% 2.8% -7.4% WW 1,087 1,072 1.3% 5.5% -4.2% WOMEN'S HEALTH --- US 3 3 4.2% 4.2% Intl 222 240 -7.5% 4.3% -11.8% WW 225 243 -7.3% 4.3% -11.6% WOUND CARE / OTHER --- US 102 103 -0.9% -0.9% Intl 53 60 -11.6% -6.0% -5.6% WW 155 163 -4.8% -2.7% -2.1% TOTAL CONSUMER --- US 1,438 1,436 0.2% 0.2% Intl 1,880 1,962 -4.2% 3.7% -7.9% WW $3,318 $3,398 -2.4% 2.2% -4.6% See footnotes at end of schedule REPORTED SALES vs. PRIOR PERIOD ($MM) FIRST QUARTER % Change 2019 2018 Reported Operational (1) Currency PHARMACEUTICAL SEGMENT (2)(4) --- IMMUNOLOGY --- US $2,163 $2,000 8.1% 8.1% Intl 1,088 1,042 4.5% 12.6% -8.1% WW 3,251 3,042 6.9% 9.6% -2.7% REMICADE --- US 774 916 -15.5% -15.5% US Exports (3) 76 142 -46.4% -46.4% Intl 252 331 -23.6% -17.2% -6.4% WW 1,102 1,389 -20.6% -19.1% -1.5% SIMPONI / SIMPONI ARIA --- US 263 224 17.0% 17.0% Intl 261 294 -11.1% -3.8% -7.3% WW 524 518 1.0% 5.2% -4.2% STELARA --- US 882 652 35.2% 35.2% Intl 523 409 27.9% 37.2% -9.3% WW 1,405 1,061 32.4% 36.0% -3.6% TREMFYA --- US 168 66 * * Intl 49 6 * * * WW 217 72 * * * OTHER IMMUNOLOGY(4) --- US Intl 3 2 19.5% 21.0% -1.5% WW 3 2 19.5% 21.0% -1.5% INFECTIOUS DISEASES --- US 357 333 7.3% 7.3% Intl 489 497 -1.7% 7.8% -9.5% WW 846 830 1.9% 7.6% -5.7% EDURANT / rilpivirine --- US 12 14 -18.8% -18.8% Intl 199 196 2.2% 10.6% -8.4% WW 211 210 0.8% 8.6% -7.8% PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA --- US 315 273 15.5% 15.5% Intl 208 205 1.5% 11.9% -10.4% WW 523 478 9.5% 13.9% -4.4% OTHER INFECTIOUS DISEASES --- US 30 46 -33.8% -33.8% Intl 82 96 -16.0% -6.3% -9.7% WW 112 142 -21.7% -15.1% -6.6% See footnotes at end of schedule REPORTED SALES vs. PRIOR PERIOD ($MM) FIRST QUARTER % Change 2019 2018 Reported Operational (1) Currency NEUROSCIENCE --- US 723 624 16.0% 16.0% Intl 905 935 -3.2% 4.3% -7.5% WW 1,629 1,559 4.5% 9.0% -4.5% CONCERTA / methlyphenidate --- US 97 66 47.7% 47.7% Intl 116 107 8.5% 15.8% -7.3% WW 214 173 23.4% 28.0% -4.6% INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA --- US 483 400 20.7% 20.7% Intl 307 296 3.8% 12.3% -8.5% WW 790 696 13.5% 17.1% -3.6% RISPERDAL CONSTA --- US 77 82 -6.8% -6.8% Intl 102 114 -10.3% -2.4% -7.9% WW 179 196 -8.8% -4.3% -4.5% OTHER NEUROSCIENCE --- US 66 76 -12.0% -12.0% Intl 379 418 -9.2% -2.5% -6.7% WW 446 494 -9.6% -3.9% -5.7% ONCOLOGY --- US 962 933 3.1% 3.1% Intl 1,556 1,378 13.0% 22.2% -9.2% WW 2,518 2,311 9.0% 14.5% -5.5% DARZALEX --- US 352 264 33.0% 33.0% Intl 277 168 65.1% 80.1% -15.0% WW 629 432 45.5% 51.3% -5.8% IMBRUVICA --- US 349 227 53.7% 53.7% Intl 435 360 20.8% 32.0% -11.2% WW 784 587 33.5% 40.4% -6.9% VELCADE --- US Intl 263 313 -16.0% -10.1% -5.9% WW 263 313 -16.0% -10.1% -5.9% ZYTIGA / Abiraterone Acetate --- US 185 407 -54.5% -54.5% Intl 494 438 12.9% 20.9% -8.0% WW 679 845 -19.6% -15.4% -4.2% OTHER ONCOLOGY --- US 76 35 * * Intl 87 99 -12.2% -3.9% -8.3% WW 163 134 21.7% 27.8% -6.1% REPORTED SALES vs. PRIOR PERIOD ($MM) FIRST QUARTER % Change 2019 2018 Reported Operational (1) Currency PULMONARY HYPERTENSION --- US 430 361 19.2% 19.2% Intl 226 224 0.7% 8.6% -7.9% WW 656 585 12.1% 15.1% -3.0% OPSUMIT --- US 172 149 15.9% 15.9% Intl 133 122 8.9% 17.8% -8.9% WW 306 271 12.7% 16.8% -4.1% TRACLEER --- US 61 68 -10.1% -10.1% Intl 56 72 -22.9% -18.3% -4.6% WW 117 140 -16.7% -14.4% -2.3% UPTRAVI --- US 176 124 41.4% 41.4% Intl 22 16 42.8% 53.6% -10.8% WW 198 140 41.6% 42.8% -1.2% OTHER --- US 21 20 3.6% 3.6% Intl 15 14 4.6% 17.1% -12.5% WW 35 34 4.0% 9.2% -5.2% CARDIOVASCULAR / METABOLISM / OTHER --- US 947 1,103 -14.1% -14.1% Intl 398 414 -3.9% 2.7% -6.6% WW 1,345 1,517 -11.3% -9.5% -1.8% XARELTO --- US 542 578 -6.3% -6.3% Intl WW 542 578 -6.3% -6.3% INVOKANA / INVOKAMET --- US 154 204 -24.8% -24.8% Intl 49 44 11.6% 20.0% -8.4% WW 202 248 -18.4% -16.9% -1.5% PROCRIT / EPREX --- US 148 189 -21.6% -21.6% Intl 78 87 -10.2% -5.2% -5.0% WW 226 276 -18.0% -16.4% -1.6% OTHER --- US 104 132 -21.3% -21.3% Intl 271 283 -4.4% 2.5% -6.9% WW 374 415 -9.7% -5.1% -4.6% TOTAL PHARMACEUTICAL --- US 5,582 5,354 4.3% 4.3% Intl 4,662 4,490 3.9% 12.2% -8.3% WW $10,244 $9,844 4.1% 7.9% -3.8% See footnotes at end of schedule REPORTED SALES vs. PRIOR PERIOD ($MM) FIRST QUARTER % Change 2019 2018 Reported Operational (1) Currency MEDICAL DEVICES SEGMENT (2)(5) --- DIABETES CARE(5) --- US $ - $117 * * Intl 222 * * * WW 339 * * * INTERVENTIONAL SOLUTIONS --- US 343 304 12.6% 12.6% Intl 389 336 15.8% 22.7% -6.9% WW 732 640 14.3% 17.9% -3.6% ORTHOPAEDICS --- US 1,318 1,307 0.9% 0.9% Intl 885 943 -6.2% 0.7% -6.9% WW 2,204 2,250 -2.1% 0.8% -2.9% HIPS --- US 213 209 2.1% 2.1% Intl 148 154 -3.8% 3.5% -7.3% WW 361 363 -0.4% 2.7% -3.1% KNEES --- US 223 228 -2.2% -2.2% Intl 146 159 -8.2% -1.5% -6.7% WW 369 387 -4.7% -1.9% -2.8% TRAUMA --- US 417 407 2.5% 2.5% Intl 268 289 -7.0% -0.3% -6.7% WW 685 696 -1.4% 1.3% -2.7% SPINE & OTHER --- US 465 463 0.3% 0.3% Intl 323 341 -5.5% 1.3% -6.8% WW 788 804 -2.2% 0.7% -2.9% REPORTED SALES vs. PRIOR PERIOD ($MM) FIRST QUARTER % Change 2019 2018 Reported Operational (1) Currency SURGERY --- US 1,001 993 0.8% 0.8% Intl 1,394 1,430 -2.6% 4.7% -7.3% WW 2,395 2,423 -1.2% 3.1% -4.3% ADVANCED --- US 404 393 2.9% 2.9% Intl 576 573 0.5% 7.7% -7.2% WW 980 966 1.5% 5.8% -4.3% GENERAL --- US 425 423 0.3% 0.3% Intl 665 704 -5.6% 1.6% -7.2% WW 1,089 1,127 -3.4% 1.1% -4.5% SPECIALTY --- US 172 177 -2.5% -2.5% Intl 153 153 -0.2% 7.6% -7.8% WW 325 330 -1.4% 2.2% -3.6% VISION --- US 446 440 1.5% 1.5% Intl 682 675 1.1% 7.2% -6.1% WW 1,129 1,115 1.2% 5.0% -3.8% CONTACT LENSES / OTHER --- US 321 309 4.1% 4.1% Intl 502 498 1.0% 7.4% -6.4% WW 824 807 2.1% 6.1% -4.0% SURGICAL --- US 125 131 -4.5% -4.5% Intl 180 177 1.3% 6.8% -5.5% WW 305 308 -1.1% 2.0% -3.1% TOTAL MEDICAL DEVICES --- US 3,109 3,161 -1.6% -1.6% Intl 3,350 3,606 -7.1% -0.3% -6.8% WW $6,459 $6,767 -4.6% -1.0% -3.6% Note: Columns and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely. * Percentage greater than 100% or 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 (5) Reflects LifeScan divestiture October 2, 2018
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SOURCE Johnson & Johnson