Johnson & Johnson Reports 2020 Fourth-Quarter And Full Year Results
NEW BRUNSWICK, N.J., Jan. 26, 2021 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced results for fourth-quarter and full year 2020. "Our notable full year performance reflects the continued confidence from patients, physicians, customers and consumers in our life-enhancing products and medicines, particularly throughout the COVID-19 pandemic," said Alex Gorsky, Chairman and Chief Executive Officer. "I'm incredibly proud of our Johnson & Johnson teams around the world for going above and beyond to meet stakeholder needs. These efforts, and our commitment to families around the world as the largest broad-based healthcare company, enabled us to lead in the fight against COVID-19. We continue to progress our COVID-19 vaccine candidate and look forward to sharing details from our Phase 3 study soon. Johnson & Johnson was built for times like these, and I am extremely confident in our ability to deliver lasting value and continued innovation in 2021 and for years to come."
OVERALL FINANCIAL RESULTS:
FOURTH QUARTER TWELVE MONTHS
($ in Millions,
except EPS) 2020 2019
% Change 2020 2019
% Change
---
Reported Sales $22,475 $20,747 8.3% $82,584 $82,059 0.6%
---
Net Earnings 1,738 4,010 (56.7)% 14,714 15,119 (2.7)%
---
EPS (diluted) $0.65 $1.50 (56.7)% $5.51 $5.63 (2.1)%
---
Non-GAAP* FOURTH QUARTER TWELVE MONTHS
($ in Millions,
except EPS) 2020 2019
% Change 2020 2019
% Change
---
Operational
Sales1,2 N/A N/A 7.1% N/A N/A 1.2%
---
Adjusted
Operational
Sales1,3 N/A N/A 7.3% N/A N/A 1.5%
---
Adjusted Net
Earnings1,4 4,965 5,027 (1.2)% 21,433 23,310 (8.1)%
---
Adjusted EPS
(diluted)1,4 $1.86 $1.88 (1.1)% $8.03 $8.68 (7.5)%
---
(1) Non-GAAP financial measure;
refer to reconciliations of non-
GAAP financial measures included in
accompanying schedules
(2) Excludes the impact of
translational currency
(3) Excludes the net impact of
acquisitions and divestitures and
translational currency
4 Excludes intangible amortization
expense and special items
REGIONAL SALES RESULTS:
FOURTH QUARTER
% Change
($ in Millions) (1) 2020 2019 Reported Operational Currency
(2) (2) (2) 1,2 (2)
Adjusted
Operational1,3
---
U.S. $11,809 $10,774 9.6% 9.6% 9.6
---
International 10,666 9,973 7.0% 4.3% 2.7 4.8
---
Worldwide $22,475 $20,747 8.3% 7.1% 1.2 7.3
---
TWELVE MONTHS
% Change
($ in Millions) (1) 2020 2019 Reported Operational Currency
(2) (2) (2) 1,2 (2)
Adjusted
Operational1,3
---
U.S. $43,133 $42,097 2.5% 2.5 2.8
---
International 39,451 39,962 (1.3)% (0.2) (1.1) 0.2
---
Worldwide $82,584 $82,059 0.6% 1.2 (0.6) 1.5
---
(1) Non-GAAP financial measure;
refer to reconciliations of non-
GAAP financial measures included in
accompanying schedules
(2) Excludes the impact of
translational currency
(3) Excludes the net impact of
acquisitions and divestitures and
translational currency
Note: values may have been rounded
SEGMENT SALES RESULTS:
FOURTH QUARTER
% Change
($ in Millions) (1) 2020 2019 Reported Operational Currency
(1) (1) (2) 1,2 (1)
Adjusted
Operational1,3
---
Consumer Health $3,618 $3,567 1.4% 2.0 (0.6) 2.1
---
Pharmaceutical 12,268 10,548 16.3% 14.6 1.7 14.6
---
Medical Devices 6,589 6,632 (0.7)% (2.2) 1.5 (1.5)
---
Worldwide $22,475 $20,747 8.3% 7.1 1.2 7.3
---
TWELVE MONTHS
% Change
($ in Millions) (1) 2020 2019 Reported Operational Currency
(1) (1) (2) 1,2 (1)
Adjusted
Operational1,3
---
Consumer Health $14,053 $13,898 1.1% 3.0 (1.9) 3.1
---
Pharmaceutical 45,572 42,198 8.0% 8.2 (0.2) 8.4
---
Medical Devices 22,959 25,963 (11.6)% (11.4) (0.2) (10.5)
---
Worldwide $82,584 $82,059 0.6% 1.2 (0.6) 1.5
---
(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
FULL-YEAR 2020 SEGMENT COMMENTARY:
Consumer Health
Consumer Health worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 3.1%* driven by U.S. growth in over-the-counter products including TYLENOL analgesics, PEPCID and ZYRTEC; LISTERINE mouthwash in oral care products; OGX in skin health/beauty products and wound care products. Growth was negatively impacted by COVID-19 primarily in skin health/beauty and international baby care partially offset by increased COVID-19 demand in oral care products.
Pharmaceutical
Pharmaceutical worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 8.4%* driven by STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, DARZALEX (daratumumab), for the treatment of multiple myeloma, IMBRUVICA (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer, ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, and for adults with active psoriatic arthritis, INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults, OPSUMIT (macitentan), an oral endothelin receptor antagonist indicated for the treatment of pulmonary arterial hypertension to delay disease progression and UPTRAVI (selexipag), an oral prostacyclin receptor agonist used to treat pulmonary arterial hypertension and reduce hospitalization. This growth was partially offset by the negative impact of COVID-19 as well as biosimilar and generic competition, with declines primarily in REMICADE (infliximab), a biologic approved for the treatment of a number of immune-mediated inflammatory diseases, 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, and international VELCADE (bortezomib), a proteasome inhibitor for the treatment of multiple myeloma.
Medical Devices
Medical Devices worldwide operational sales, excluding the net impact of acquisitions and divestitures, declined by 10.5%*. The decline was primarily driven by the negative impact of the COVID-19 pandemic and the associated deferral of medical procedures to our Surgery, Orthopaedics, and Vision businesses. The decline was partially offset by growth in the Interventional Solutions business led by electrophysiology products. Results reflect market recovery in the second half of 2020.
NOTABLE NEW ANNOUNCEMENTS IN THE QUARTER:
The information contained in this section should be read in conjunction with Johnson & Johnson's other disclosures filed with the Securities and Exchange Commission, including its Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. The reader is also encouraged to review all other news releases available online in the Investors section of the company's website at news releases.
Regulatory VELYS Robotic-Assisted Solution- Receives 510(k) FDA
Approvals Clearance Designed for Use with the ATTUNE Total Knee
System (1) (press release)
---
DARZALEX FASPRO (daratumumab and
hyaluronidase-fihj)- Becomes the
First FDA-Approved Treatment for
Patients with Newly Diagnosed Light
Chain (AL) Amyloidosis (1) (press release)
---
CABENUVA (rilpivirine/cabotegravir)-
U.S. FDA Approval and European
Commission Authorization of the first
complete long acting injectable HIV
treatment (1) (press release)
(press release)
---
TREMFYA (guselkumab)- European
Commission Approves First-in-Class
treatment for Active Psoriatic
Arthritis (PsA) (press release)
---
Regulatory Amivantamab- Submission of U.S. FDA and European
Submissions Marketing Authorization Application for Treatment of
Patients with Metastatic Non-Small Cell Lung Cancer
with EGFR Exon 20 Insertion Mutations (press release)
(press release)
---
BCMA CAR-T Therapy (ciltacabtagene
autoleucel)- Rolling Submission of a
Biologics License Application to U.S.
FDA for the Treatment of Relapsed and/
or Refractory Multiple Myeloma (press release)
---
DARZALEX (daratumumab and hyaluronidase-
fihj)- Janssen Submits Applications in
U.S. and EU Seeking Approval of
DARZALEX FASPRO (daratumumab and
hyaluronidase-fihj)/DARZALEX
(daratumumab) Subcutaneous (SC)
Formulation in Combination With
Pomalidomide and Dexamethasone for
Patients With Relapsed or Refractory
Multiple Myeloma (press release)
---
Paliperidone Palmitate 6-Month-
Submission of Supplemental New Drug
Application to U.S. FDA and European
Marketing Authorization for Treatment
of Schizophrenia in Adults (press release)
(press release)
---
XARELTO (rivaroxaban)-Submission of
Application to U.S. FDA for New
Indication to Expand Use in Patients
with Peripheral Artery Disease (press release)
---
Other Janssen Receives Positive CHMP Opinion for SPRAVATO
(esketamine Nasal Spray) for the Rapid Reduction of
Depressive Symptoms in a Psychiatric Emergency for
Patients with Major Depressive Disorder (press release)
---
Janssen Acquires Rights to Novel Gene
Therapy, Pioneering Treatment Solutions
for Late-Stage Age-Related Macular
Degeneration (press release)
---
Johnson & Johnson Initiates Second
Global Phase 3 Clinical Trial of its
Janssen COVID-19 Vaccine Candidate (press release)
---
(1) Subsequent to the quarter
FULL-YEAR 2021 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.
January 2021
($ in Billions, except EPS)
Adjusted Operational Sales1,2 8.0% - 9.5%
Change vs. Prior Year
---
Operational Sales(2)
$88.8B - $90.0B
Change vs. Prior Year 7.5% - 9.0%
---
Estimated Reported Sales(3)
$90.5B - $91.7B
Change vs. Prior Year 9.5% - 11.0%
---
Adjusted Operational EPS (Diluted)2,4
$9.25 - $9.45
Change vs. Prior Year 15.2% - 17.7%
---
Adjusted EPS (Diluted)3,4
$9.40 - $9.60
Change vs. Prior Year 17.1% - 19.6%
---
(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:
January 2021 = $1.21 (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: risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays and cancellations of medical procedures, supply chain disruptions and other impacts to the business, or on the Company's ability to execute business continuity plans, as a result of the COVID-19 pandemic, 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 29, 2019, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," in the Company's most recently filed Quarterly Report on Form 10-Q 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)
FOURTH QUARTER
TWELVE MONTHS
--- --- ---
Percent Change
Percent Change
2020 2019
Total
Operations
Currency 2020 2019
Total
Operations
Currency
---
Sales to customers by
geographic area
U.S. $11,809 10,774 9.6
%
% 9.6 $43,133 42,097 2.5 2.5
--- ---
Europe 5,271 4,663 13.0 7.7 5.3 18,980 18,466 2.8 2.0 0.8
Western
Hemisphere
excluding U.S. 1,404 1,495 (6.1) 2.9 (9.0) 5,335 5,941 (10.2) 0.4 (10.6)
Asia-Pacific,
Africa 3,991 3,815 4.6 0.7 3.9 15,136 15,555 (2.7) (3.1) 0.4
International 10,666 9,973 7.0 4.3 2.7 39,451 39,962 (1.3) (0.2) (1.1)
--- ---
Worldwide $22,475 20,747 8.3
%
% 7.1 1.2 $82,584 82,059 0.6 1.2 (0.6)
--- ---
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)
FOURTH QUARTER
TWELVE MONTHS
--- --- ---
Percent Change
Percent Change
2020 2019
Total
Operations
Currency 2020 2019
Total
Operations
Currency
---
Sales to customers by
segment of business
Consumer Health
U.S. $1,509 1,470 2.7
%
% 2.7 $6,362 5,839 9.0 9.0 -
International 2,109 2,097 0.5 1.5 (1.0) 7,691 8,059 (4.6) (1.3) (3.3)
3,618 3,567 1.4 2.0 (0.6) 14,053 13,898 1.1 3.0 (1.9)
---
Pharmaceutical
U.S. 7,116 6,169 15.3 15.3 25,735 23,874 7.8 7.8
International 5,152 4,379 17.7 13.5 4.2 19,837 18,324 8.3 8.8 (0.5)
12,268 10,548 16.3 14.6 1.7 45,572 42,198 8.0 8.2 (0.2)
---
Medical Devices
U.S. 3,184 3,135 1.5 1.5 11,036 12,384 (10.9) (10.9)
International 3,405 3,497 (2.6) (5.5) 2.9 11,923 13,579 (12.2) (11.8) (0.4)
6,589 6,632 (0.7) (2.2) 1.5 22,959 25,963 (11.6) (11.4) (0.2)
---
U.S. 11,809 10,774 9.6 9.6 43,133 42,097 2.5 2.5
International 10,666 9,973 7.0 4.3 2.7 39,451 39,962 (1.3) (0.2) (1.1)
Worldwide $22,475 20,747 8.3
%
% 7.1 1.2 $82,584 82,059 0.6 1.2 (0.6)
--- ---
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)
FOURTH QUARTER
--- ---
2020 2019
Percent
Percent Percent
Increase
Amount to Sales Amount to Sales
(Decrease)
Sales to customers $22,475 100.0 $20,747 100.0 8.3
Cost of products sold 7,814 34.8 7,134 34.4 9.5
Gross Profit 14,661 65.2 13,613 65.6 7.7
---
Selling, marketing and
administrative
expenses 6,457 28.7 6,039 29.1 6.9
Research and
development expense 4,032 17.9 3,232 15.6 24.8
In-process research
and development 37 0.2
Interest (income)
expense, net 74 0.3 4 0.0
Other (income)
expense, net 2,354 10.5 16 0.1
Restructuring 60 0.3 104 0.5
---
Earnings before
provision for taxes
on income 1,647 7.3 4,218 20.3 (61.0)
Provision for/
(Benefit from) taxes
on income (91) (0.4) 208 1.0 (143.8)
Net earnings $1,738 7.7 $4,010 19.3 (56.7)
--- ---
Net earnings per share
(Diluted) $0.65 $1.50 (56.7)
Average shares
outstanding (Diluted) 2,669.2 2,669.1
Effective tax rate (5.5) 4.9
% %
Adjusted earnings before provision for taxes and
net earnings(1)
Earnings before
provision for taxes
on income $5,601 24.9 $5,628 27.1 (0.5)
Net earnings $4,965 22.1 $5,027 24.2 (1.2)
Net earnings per share
(Diluted) $1.86 $1.88 (1.1)
Effective tax rate 11.4 10.7
% %
---
(1)See Reconciliation of Non-GAAP Financial Measures.
Johnson & Johnson and Subsidiaries
---
Condensed Consolidated Statement of Earnings
(Unaudited; in
Millions Except Per
Share Figures)
TWELVE MONTHS
--- ---
2020 2019
Percent
Percent Percent
Increase
Amount to Sales Amount to Sales
(Decrease)
Sales to customers $82,584 100.0 $82,059 100.0 0.6
Cost of products sold 28,427 34.4 27,556 33.6 3.2
Gross Profit 54,157 65.6 54,503 66.4 (0.6)
---
Selling, marketing and
administrative
expenses 22,084 26.8 22,178 27.0 (0.4)
Research and
development expense 12,159 14.7 11,355 13.8 7.1
In-process research
and development 181 0.2 890 1.1
Interest (income)
expense, net 90 0.1 (39) 0.0
Other (income)
expense, net 2,899 3.5 2,525 3.1
Restructuring 247 0.3 266 0.3
---
Earnings before
provision for taxes
on income 16,497 20.0 17,328 21.1 (4.8)
Provision for taxes on
income 1,783 2.2 2,209 2.7 (19.3)
Net earnings $14,714 17.8 $15,119 18.4 (2.7)
---
Net earnings per share
(Diluted) $5.51 $5.63 (2.1)
Average shares
outstanding (Diluted) 2,670.7 2,684.3
Effective tax rate 10.8 12.7
% %
Adjusted earnings before provision for taxes and
net earnings (1)
Earnings before
provision for taxes
on income $25,428 30.8 $28,225 34.4 (9.9)
Net earnings $21,433 26.0 $23,310 28.4 (8.1)
Net earnings per share
(Diluted) $8.03 $8.68 (7.5)
Effective tax rate 15.7 17.4
% %
---
(1)See Reconciliation of Non-GAAP Financial Measures.
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Fourth Quarter Twelve Months Ended
(Dollars in Millions Except Per Share Data) 2020 2019 2020 2019
--- ---
Net Earnings, after tax- as reported $1,738 $4,010 $14,714 $15,119
Pre-tax Adjustments
Intangible Asset Amortization expense 1,234 1,142 4,660 4,528
Litigation expense, net 2,902 264 5,112 5,096
IPR&D 37 181 890
Restructuring related 85 251 448 611
Acquisition and Integration related (1) 14 90 (1,073) 319
Unrealized (gains)/losses on securities (373) (350) (547) (567)
Medical Device Regulation (2) 55 144 -
Other 13 6 20
Tax Adjustments
Tax impact on special item adjustments (3) (606) (123) (1,608) (1,977)
Tax legislation and other tax related (121) (270) (604) (729)
---
Adjusted Net Earnings, after tax $4,965 $5,027 $21,433 $23,310
Average shares outstanding (Diluted) 2,669.2 2,669.1 2,670.7 2,684.3
Adjusted net earnings per share (Diluted) $1.86 $1.88 $8.03 $8.68
Operational adjusted net earnings per share (Diluted) $1.82 $8.00
Notes:
(1) Acquisition
and
integration
related costs
for 2020
primarily
includes a
Contingent
Consideration
reversal of
$1,148M
related to
the timing of
certain
developmental
milestones
associated
with the
Auris Health
acquisition.
(2) European
Medical
Device
Regulation
(MDR) costs
represent
one-time
compliance
costs for the
Company's
previously
registered
products. MDR
is a
replacement
of the
existing
European
Medical
Devices
Directive
regulatory
framework,
and
manufacturers
of currently
marketed
medical
devices are
required to
comply with
EU MDR
beginning in
May 2021. The
Company
considers the
adoption of
EU MDR to be
a significant
one-time
regulatory
change and is
not
indicative of
on-going
operations.
The Company
has excluded
only external
third-party
regulatory
and
consulting
costs from
its Medical
Devices
operating
segments'
measures of
profit and
loss used for
making
operating
decisions and
assessing
performance.
(3) The tax impact
related to
special item
adjustments
reflects the
current and
deferred
income taxes
associated
with the
above pre-
tax special
items in
arriving at
adjusted
earnings.
Prior year
amounts have
been
reclassified
to conform to
current year
disclosure
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure
Adjusted Operational Sales Growth
---
FOURTH QUARTER 2020 ACTUAL vs. 2019 ACTUAL
Segments
---
Consumer Health
Pharmaceutical
Medical Devices Total
WW As Reported 1.4% 16.3% (0.7)% 8.3%
---
U.S. 2.7% 15.3% 1.5% 9.6%
International 0.5% 17.7% (2.6)% 7.0%
WW Currency (0.6) 1.7 1.5 1.2
U.S.
International (1.0) 4.2 2.9 2.7
WW Operational 2.0% 14.6% (2.2)% 7.1%
---
U.S. 2.7% 15.3% 1.5% 9.6%
International 1.5% 13.5% (5.5)% 4.3%
General Surgery
Advanced Sterilization Products 0.6 0.2
U.S. 0.0 0.0
International 1.0 0.4
All Other Acquisitions and
Divestitures 0.1 0.0 0.1 0.1
U.S. 0.1 (0.1) 0.2 0.0
International 0.1 0.2 0.0 0.1
WW Adjusted Operational 2.1% 14.6% (1.5)% 7.3%
===
U.S. 2.8% 15.2% 1.7% 9.6%
International 1.6% 13.7% (4.4)% 4.8%
Note:Percentages are based on actual, non-rounded figures and may not sum
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure
Adjusted Operational Sales Growth
---
TWELVE MONTHS 2020 ACTUAL vs. 2019 ACTUAL
Segments
---
Consumer Health
Pharmaceutical
Medical Devices Total
WW As Reported 1.1% 8.0% (11.6)% 0.6%
---
U.S. 9.0% 7.8% (10.9)% 2.5%
International (4.6)% 8.3% (12.2)% (1.3)%
WW Currency (1.9) (0.2) (0.2) (0.6)
U.S.
International (3.3) (0.5) (0.4) (1.1)
WW Operational 3.0% 8.2% (11.4)% 1.2%
---
U.S. 9.0% 7.8% (10.9)% 2.5%
International (1.3)% 8.8% (11.8)% (0.2)%
Skin Health /Beauty
Dr. Ci Labo -Japan (0.1) 0.0
U.S. 0.0 0.0
International (0.2) 0.0
General Surgery
Advanced Sterilization Products 0.8 0.3
U.S. 0.6 0.2
International 1.0 0.4
Baby Care
Baby Center 0.2 0.0
U.S. 0.5 0.1
International 0.0 0.0
All Other Acquisitions and
Divestitures 0.0 0.2 0.0 0.1
U.S. 0.0 0.0 0.0 0.0
International (0.1) 0.3 0.0 0.1
WW Adjusted Operational 3.1% 8.4% (10.5)% 1.5%
===
U.S. 9.5% 7.8% (10.2)% 2.8%
International (1.5)% 9.1% (10.9)% 0.2%
Note: Percentages are based on actual, non-rounded figures and may not sum
REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM)
FOURTH QUARTER
TWELVE MONTHS
% Change
% Change
2020 2019 Reported Operational (1) Currency 2020 2019 Reported Operational (1) Currency
CONSUMER HEALTH SEGMENT (2,3)
---
OTC
---
US $543 542 0.1% 0.1% $2,460 2,010 22.4% 22.4%
Intl 642 653 -1.7% -2.9% 1.2% 2,364 2,434 -2.9% -1.2% -1.7%
WW 1,185 1,195 -0.8% -1.5% 0.7% 4,824 4,444 8.5% 9.4% -0.9%
SKIN HEALTH / BEAUTY(4)
---
US 583 582 0.2% 0.2% 2,350 2,392 -1.7% -1.7%
Intl 594 568 4.6% 5.0% -0.4% 2,100 2,201 -4.6% -2.3% -2.3%
WW 1,177 1,150 2.4% 2.6% -0.2% 4,450 4,593 -3.1% -2.0% -1.1%
ORAL CARE
---
US 173 159 8.3% 8.3% 683 621 9.9% 9.9%
Intl 264 233 13.5% 14.5% -1.0% 958 906 5.7% 9.6% -3.9%
WW 437 393 11.4% 12.0% -0.6% 1,641 1,528 7.4% 9.7% -2.3%
BABY CARE
---
US 97 85 14.3% 14.3% 376 362 3.7% 3.7%
Intl 310 336 -7.8% -3.6% -4.2% 1,141 1,313 -13.1% -7.3% -5.8%
WW 407 421 -3.4% 0.0% -3.4% 1,517 1,675 -9.4% -4.9% -4.5%
WOMEN'S HEALTH
---
US 3 3 11.8% 11.8% 13 12 8.2% 8.2%
Intl 234 250 -6.5% -3.1% -3.4% 888 974 -8.8% -2.9% -5.9%
WW 237 253 -6.3% -2.9% -3.4% 901 986 -8.6% -2.7% -5.9%
WOUND CARE / OTHER
---
US 110 98 11.8% 11.8% 480 441 8.9% 8.9%
Intl 65 57 12.4% 13.0% -0.6% 240 230 4.1% 7.3% -3.2%
WW 175 155 12.0% 12.2% -0.2% 720 671 7.2% 8.3% -1.1%
TOTAL CONSUMER HEALTH
---
US 1,509 1,470 2.7% 2.7% 6,362 5,839 9.0% 9.0%
Intl 2,109 2,097 0.5% 1.5% -1.0% 7,691 8,059 -4.6% -1.3% -3.3%
WW $3,618 3,567 1.4% 2.0% -0.6% $14,053 13,898 1.1% 3.0% -1.9%
See footnotes at end of schedule
REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM)
FOURTH QUARTER
TWELVE MONTHS
% Change
% Change
PHARMACEUTICAL SEGMENT (2,5) 2020 2019 Reported Operational (1) Currency 2020 2019 Reported Operational (1) Currency
---
IMMUNOLOGY
---
US $2,845 2,517 13.0% 13.0% $10,175 9,641 5.5% 5.5%
Intl 1,261 1,005 25.4% 21.1% 4.3% 4,880 4,309 13.2% 14.0% -0.8%
WW 4,105 3,522 16.6% 15.3% 1.3% 15,055 13,950 7.9% 8.2% -0.3%
REMICADE
---
US 656 755 -13.1% -13.1% 2,508 3,079 -18.5% -18.5%
US Exports (6) 25 68 -62.4% -62.4% 346 294 18.0% 18.0%
Intl 220 212 3.3% 2.7% 0.6% 893 1,007 -11.4% -8.6% -2.8%
WW 901 1,035 -12.9% -13.1% 0.2% 3,747 4,380 -14.4% -13.8% -0.6%
SIMPONI / SIMPONI ARIA
---
US 315 302 4.4% 4.4% 1,155 1,159 -0.3% -0.3%
Intl 261 213 22.9% 18.8% 4.1% 1,088 1,029 5.8% 7.0% -1.2%
WW 576 515 12.1% 10.4% 1.7% 2,243 2,188 2.6% 3.1% -0.5%
STELARA
---
US 1,572 1,194 31.6% 31.6% 5,240 4,346 20.6% 20.6%
Intl 672 506 32.7% 27.2% 5.5% 2,467 2,015 22.4% 22.2% 0.2%
WW 2,244 1,700 31.9% 30.3% 1.6% 7,707 6,361 21.1% 21.1% 0.0%
TREMFYA
---
US 276 199 39.1% 39.1% 926 764 21.3% 21.3%
Intl 105 71 48.1% 40.0% 8.1% 421 248 69.9% 67.9% 2.0%
WW 382 270 41.5% 39.3% 2.2% 1,347 1,012 33.2% 32.7% 0.5%
OTHER IMMUNOLOGY
---
US
Intl 2 2 -19.7% -14.5% -5.2% 11 10 6.4% 12.8% -6.4%
WW 2 2 -19.7% -14.5% -5.2% 11 10 6.4% 12.8% -6.4%
INFECTIOUS DISEASES
---
US 470 435 7.9% 7.9% 1,735 1,597 8.6% 8.6%
Intl 442 430 2.8% -2.6% 5.4% 1,839 1,815 1.3% 2.2% -0.9%
WW 912 866 5.4% 2.7% 2.7% 3,574 3,413 4.7% 5.2% -0.5%
EDURANT / rilpivirine
---
US 11 14 -17.9% -17.9% 44 50 -11.2% -11.2%
Intl 236 209 13.4% 6.2% 7.2% 920 812 13.3% 11.9% 1.4%
WW 248 222 11.4% 4.7% 6.7% 964 861 11.9% 10.5% 1.4%
PREZISTA /PREZCOBIX /REZOLSTA /SYMTUZA
---
US 433 390 11.1% 11.1% 1,587 1,422 11.6% 11.6%
Intl 136 155 -12.4% -17.1% 4.7% 597 689 -13.4% -10.7% -2.7%
WW 569 544 4.4% 3.1% 1.3% 2,184 2,110 3.5% 4.4% -0.9%
OTHER INFECTIOUS DISEASES
---
US 25 32 -20.4% -20.4% 104 126 -17.6% -17.6%
Intl 71 67 5.2% 3.3% 1.9% 323 315 2.6% 5.6% -3.0%
WW 96 99 -3.0% -4.3% 1.3% 427 441 -3.2% -1.0% -2.2%
REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM)
FOURTH QUARTER
TWELVE MONTHS
% Change
% Change
2020 2019 Reported Operational (1) Currency 2020 2019 Reported Operational (1) Currency
NEUROSCIENCE
---
US 806 747 7.9% 7.9% 3,091 2,919 5.9% 5.9%
Intl 892 819 9.0% 6.2% 2.8% 3,457 3,409 1.4% 2.2% -0.8%
WW 1,698 1,566 8.5% 7.0% 1.5% 6,548 6,328 3.5% 3.9% -0.4%
CONCERTA /Methylphenidate
---
US 33 37 -9.7% -9.7% 183 233 -21.4% -21.4%
Intl 120 115 4.2% 1.4% 2.8% 439 463 -5.1% -4.5% -0.6%
WW 153 152 0.9% -1.2% 2.1% 622 696 -10.6% -10.2% -0.4%
INVEGA SUSTENNA /XEPLION /
INVEGA TRINZA / TREVICTA
---
US 610 564 8.1% 8.1% 2,314 2,107 9.8% 9.8%
Intl 355 308 15.7% 10.8% 4.9% 1,339 1,224 9.4% 9.1% 0.3%
WW 965 871 10.8% 9.0% 1.8% 3,653 3,330 9.7% 9.6% 0.1%
RISPERDAL CONSTA
---
US 76 77 -2.5% -2.5% 296 314 -5.9% -5.9%
Intl 92 82 11.0% 7.7% 3.3% 346 374 -7.5% -6.9% -0.6%
WW 167 160 4.4% 2.7% 1.7% 642 688 -6.8% -6.4% -0.4%
OTHER NEUROSCIENCE
---
US 88 70 27.4% 27.4% 298 266 12.4% 12.4%
Intl 326 314 3.7% 3.1% 0.6% 1,334 1,349 -1.1% 0.7% -1.8%
WW 414 383 8.0% 7.5% 0.5% 1,632 1,614 1.1% 2.6% -1.5%
ONCOLOGY
---
US 1,469 1,153 27.4% 27.4% 5,092 4,299 18.5% 18.5%
Intl 1,965 1,563 25.7% 20.9% 4.8% 7,275 6,393 13.8% 14.0% -0.2%
WW 3,434 2,716 26.4% 23.7% 2.7% 12,367 10,692 15.7% 15.8% -0.1%
DARZALEX
---
US 692 444 55.6% 55.6% 2,232 1,567 42.4% 42.4%
Intl 561 385 45.4% 41.3% 4.1% 1,958 1,430 36.9% 38.0% -1.1%
WW 1,253 830 50.9% 49.0% 1.9% 4,190 2,998 39.8% 40.3% -0.5%
ERLEADA
---
US 176 103 70.8% 70.8% 583 297 96.1% 96.1%
Intl 64 13
*
*
* 176 35
*
*
*
WW 241 116
*
*
* 760 332
*
*
*
IMBRUVICA
---
US 492 392 25.8% 25.8% 1,821 1,555 17.1% 17.1%
Intl 625 483 29.3% 24.8% 4.5% 2,307 1,856 24.3% 25.1% -0.8%
WW 1,117 875 27.8% 25.3% 2.5% 4,128 3,411 21.0% 21.5% -0.5%
VELCADE
---
US
Intl 97 115 -15.2% -18.5% 3.3% 408 751 -45.7% -45.8% 0.1%
WW 97 115 -15.2% -18.5% 3.3% 408 751 -45.7% -45.8% 0.1%
ZYTIGA /abiraterone acetate
---
US 89 194 -54.3% -54.3% 373 810 -54.0% -54.0%
Intl 533 483 10.2% 4.3% 5.9% 2,097 1,985 5.6% 4.7% 0.9%
WW 622 677 -8.3% -12.5% 4.2% 2,470 2,795 -11.6% -12.3% 0.7%
OTHER ONCOLOGY
---
US 20 19 2.6% 2.6% 83 70 19.2% 19.2%
Intl 86 84 1.5% -2.1% 3.6% 330 336 -1.9% -1.4% -0.5%
WW 105 104 1.7% -1.2% 2.9% 413 407 1.7% 2.2% -0.5%
PULMONARY HYPERTENSION
---
US 592 388 52.5% 52.5% 2,133 1,684 26.6% 26.6%
Intl 273 235 16.8% 12.5% 4.3% 1,015 939 8.2% 8.0% 0.2%
WW 865 623 39.0% 37.4% 1.6% 3,148 2,623 20.0% 20.0% 0.0%
OPSUMIT
---
US 279 185 52.1% 52.1% 1,008 766 31.7% 31.7%
Intl 173 143 21.2% 16.9% 4.3% 631 562 12.3% 12.3% 0.0%
WW 452 326 38.6% 36.7% 1.9% 1,639 1,327 23.5% 23.5% 0.0%
UPTRAVI
---
US 263 178 48.2% 48.2% 955 714 33.8% 33.8%
Intl 38 30 25.5% 20.1% 5.4% 138 105 30.9% 30.5% 0.4%
WW 301 208 44.9% 44.1% 0.8% 1,093 819 33.5% 33.4% 0.1%
OTHER PULMONARY HYPERTENSION
---
US 49 26 84.9% 84.9% 169 205 -17.6% -17.6%
Intl 63 62 2.4% -1.2% 3.6% 247 272 -9.2% -9.4% 0.2%
WW 112 88 26.6% 24.1% 2.5% 416 476 -12.8% -12.9% 0.1%
CARDIOVASCULAR /METABOLISM /OTHER
---
US 935 930 0.6% 0.6% 3,509 3,734 -6.0% -6.0%
Intl 317 327 -2.6% -5.4% 2.8% 1,369 1,458 -6.1% -4.8% -1.3%
WW 1,253 1,256 -0.2% -1.0% 0.8% 4,878 5,192 -6.0% -5.7% -0.3%
XARELTO
---
US 629 609 3.1% 3.1% 2,345 2,313 1.4% 1.4%
Intl
WW 629 609 3.1% 3.1% 2,345 2,313 1.4% 1.4%
INVOKANA / INVOKAMET
---
US 159 125 27.7% 27.7% 564 536 5.2% 5.2%
Intl 58 52 11.5% 8.9% 2.6% 231 199 16.3% 17.6% -1.3%
WW 217 177 22.9% 22.1% 0.8% 795 735 8.2% 8.6% -0.4%
PROCRIT / EPREX
---
US 62 118 -46.9% -46.9% 277 505 -45.1% -45.1%
Intl 66 65 2.0% -1.1% 3.1% 274 285 -3.8% -3.6% -0.2%
WW 129 183 -29.5% -30.6% 1.1% 552 790 -30.2% -30.1% -0.1%
OTHER
---
US 85 78 9.4% 9.4% 323 380 -15.1% -15.1%
Intl 194 209 -7.6% -10.3% 2.7% 864 974 -11.3% -9.7% -1.6%
WW 278 286 -3.0% -5.0% 2.0% 1,186 1,353 -12.4% -11.2% -1.2%
TOTAL PHARMACEUTICAL
---
US 7,116 6,169 15.3% 15.3% 25,735 23,874 7.8% 7.8%
Intl 5,152 4,379 17.7% 13.5% 4.2% 19,837 18,324 8.3% 8.8% -0.5%
WW $12,268 10,548 16.3% 14.6% 1.7% $45,572 42,198 8.0% 8.2% -0.2%
See footnotes at end of schedule
REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM)
FOURTH QUARTER
TWELVE MONTHS
% Change
% Change
MEDICAL DEVICES SEGMENT (2,5) 2020 2019 Reported Operational (1) Currency 2020 2019 Reported Operational (1) Currency
---
INTERVENTIONAL SOLUTIONS
---
US $433 377 14.8% 14.8% 1,452 1,443 0.6% 0.6%
Intl 460 398 15.7% 10.8% 4.9% 1,594 1,554 2.6% 2.0% 0.6%
WW 893 774 15.3% 12.8% 2.5% 3,046 2,997 1.6% 1.3% 0.3%
ORTHOPAEDICS
---
US 1,352 1,369 -1.3% -1.3% 4,779 5,319 -10.2% -10.2%
Intl 839 904 -7.3% -11.3% 4.0% 2,984 3,520 -15.2% -15.4% 0.2%
WW 2,191 2,273 -3.7% -5.3% 1.6% 7,763 8,839 -12.2% -12.3% 0.1%
HIPS
---
US 229 230 -0.7% -0.7% 793 863 -8.2% -8.2%
Intl 143 147 -2.2% -5.8% 3.6% 487 575 -15.3% -15.1% -0.2%
WW 372 377 -1.3% -2.7% 1.4% 1,280 1,438 -11.0% -11.0% 0.0%
KNEES
---
US 216 239 -9.5% -9.5% 743 889 -16.4% -16.4%
Intl 129 156 -17.2% -20.6% 3.4% 427 591 -27.8% -28.0% 0.2%
WW 345 395 -12.5% -13.9% 1.4% 1,170 1,480 -21.0% -21.1% 0.1%
TRAUMA
---
US 454 413 10.0% 10.0% 1,648 1,652 -0.2% -0.2%
Intl 268 273 -2.0% -6.2% 4.2% 966 1,068 -9.6% -9.7% 0.1%
WW 722 686 5.2% 3.6% 1.6% 2,614 2,720 -3.9% -3.9% 0.0%
SPINE, SPORTS & OTHER(7)
---
US 453 488 -7.1% -7.1% 1,595 1,915 -16.7% -16.7%
Intl 299 329 -9.2% -13.6% 4.4% 1,104 1,286 -14.1% -14.6% 0.5%
WW 752 817 -7.9% -9.7% 1.8% 2,699 3,201 -15.7% -15.9% 0.2%
SURGERY
---
US 1,002 961 4.3% 4.3% 3,249 3,828 -15.1% -15.1%
Intl 1,427 1,481 -3.7% -5.9% 2.2% 4,983 5,673 -12.2% -11.2% -1.0%
WW 2,429 2,442 -0.5% -1.9% 1.4% 8,232 9,501 -13.4% -12.8% -0.6%
ADVANCED
---
US 456 428 6.5% 6.5% 1,535 1,637 -6.2% -6.2%
Intl 660 647 2.1% -0.9% 3.0% 2,304 2,458 -6.2% -5.6% -0.6%
WW 1,116 1,076 3.8% 2.0% 1.8% 3,839 4,095 -6.2% -5.8% -0.4%
GENERAL
---
US 546 534 2.5% 2.5% 1,714 2,192 -21.8% -21.8%
Intl 767 834 -8.1% -9.8% 1.7% 2,679 3,215 -16.7% -15.5% -1.2%
WW 1,312 1,366 -4.0% -5.0% 1.0% 4,392 5,406 -18.8% -18.0% -0.8%
VISION
---
US 397 428 -7.3% -7.3% 1,557 1,794 -13.2% -13.2%
Intl 679 713 -4.7% -6.2% 1.5% 2,362 2,830 -16.5% -16.2% -0.3%
WW 1,076 1,141 -5.7% -6.6% 0.9% 3,919 4,624 -15.2% -15.1% -0.1%
CONTACT LENSES / OTHER
---
US 289 311 -7.4% -7.4% 1,213 1,304 -7.0% -7.0%
Intl 507 522 -2.7% -4.1% 1.4% 1,781 2,088 -14.7% -14.4% -0.3%
WW 796 833 -4.4% -5.3% 0.9% 2,994 3,392 -11.7% -11.5% -0.2%
SURGICAL
---
US 108 117 -7.1% -7.1% 344 490 -29.7% -29.7%
Intl 172 191 -10.3% -12.0% 1.7% 581 742 -21.7% -21.5% -0.2%
WW 280 309 -9.1% -10.1% 1.0% 925 1,232 -24.9% -24.7% -0.2%
TOTAL MEDICAL DEVICES
---
US 3,184 3,135 1.5% 1.5% 11,036 12,384 -10.9% -10.9%
Intl 3,405 3,497 -2.6% -5.5% 2.9% 11,923 13,579 -12.2% -11.8% -0.4%
WW $6,589 6,632 -0.7% -2.2% 1.5% $22,959 25,963 -11.6% -11.4% -0.2%
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 (6) Reported as U.S. sales
(1) Operational growth (7) Previously referred to
excludes the effect of as Spine & Other
translational currency
(2) Unaudited
(3) Previously referred to
as Consumer
(4) Previously referred to
as Beauty
(5) Certain prior year amounts have been reclassified
to conform to current year product disclosures
View original content to download multimedia:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2020-fourth-quarter-and-full-year-results-301214853.html
SOURCE Johnson & Johnson
