Johnson & Johnson Reports 2014 Fourth-Quarter and Full-Year Results:

2014 Fourth-Quarter Sales of $18.3 Billion Decreased 0.6%; EPS was $0.89

2014 Full-Year Sales of $74.3 Billion Increased 4.2%; Full-Year EPS was $5.70

Excluding Special Items, 2014 Fourth-Quarter EPS was $1.27, an Increase of 2.4%*, and 2014 Full-Year EPS was $5.97, an Increase of 8.2%*

Jan 20, 2015, 07:45 ET from Johnson & Johnson

NEW BRUNSWICK, N.J., Jan. 20, 2015 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced sales of $18.3 billion for the fourth quarter of 2014, a decrease of 0.6% as compared to the fourth quarter of 2013. Operational results increased 3.9% and the negative impact of currency was 4.5%. Domestic sales increased 7.4%. International sales decreased 6.7%, reflecting operational growth of 1.2% and a negative currency impact of 7.9%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 6.7%, domestic sales increased 10.7% and international sales increased 3.6%.*

Worldwide sales for the full-year 2014 were $74.3 billion, an increase of 4.2% versus 2013. Operational results increased 6.1% and the negative impact of currency was 1.9%. Domestic sales increased 9.0%. International sales increased 0.4%, reflecting operational growth of 3.7% and a negative currency impact of 3.3%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 8.0%, domestic sales increased 11.6% and international sales increased 5.1%.* 

Net earnings and diluted earnings per share for the fourth quarter of 2014 were $2.5 billion and $0.89, respectively. Fourth-quarter 2014 net earnings included a charge for after-tax special items of approximately $1.1 billion, primarily related to an increase in the litigation accrual, integration costs related to the acquisition of Synthes, Inc., and an in-process research and development charge. Fourth-quarter 2013 net earnings included a net charge for after-tax special items of $42 million as shown in the accompanying reconciliation of non-GAAP financial measures. Excluding these special items, net earnings for the current quarter were $3.6 billion and diluted earnings per share were $1.27, representing increases of 1.4% and 2.4%, respectively, as compared to the same period in 2013.*

Net earnings and diluted earnings per share for the full-year 2014 were $16.3 billion and $5.70, respectively. Full-year net earnings included a net charge for after-tax special items of $0.8 billion in 2014 and $2.0 billion in 2013 as detailed in the accompanying reconciliation of non-GAAP financial measures. Excluding these special items in both periods, net earnings for the full-year of 2014 were $17.1 billion and diluted earnings per share were $5.97, representing increases of 7.7% and 8.2%, respectively, as compared with the full year of 2013.*

"2014 was a strong year for Johnson & Johnson, as we delivered solid financial results while continuing to make investments to accelerate growth for the long term. We have built significant momentum in our Pharmaceutical business, are realizing the benefits of innovation, scale and breadth in our Medical Devices business and are continuing our market leadership with iconic brands in our Consumer business," said Alex Gorsky, Chairman and Chief Executive Officer. "I am proud of our exceptional Johnson & Johnson colleagues who make our success possible with their commitment to advancing health and well-being for patients and consumers around the world."

The Company announced adjusted earnings guidance for full-year 2015 of $6.12 to $6.27 per share. Beginning in 2015, adjusted earnings excludes after-tax intangible amortization expense in addition to special items. After-tax intangible amortization expense for 2014 was approximately $0.42 per share and for 2015 is anticipated to be approximately $0.32 per share.

Worldwide Consumer sales of $14.5 billion for the full-year 2014 represented a decrease of 1.4% versus the prior year, consisting of an operational increase of 1.0% and a negative impact from currency of 2.4%. Domestic sales decreased 1.3%; international sales decreased 1.4%, which reflected an operational increase of 2.3% and a negative currency impact of 3.7%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 2.8%, domestic sales increased 3.1% and international sales increased 2.6%.*  

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

Worldwide Pharmaceutical sales of $32.3 billion for the full-year 2014 represented an increase of 14.9% versus the prior year with operational growth of 16.5% and a negative impact from currency of 1.6%. Domestic sales increased 25.0%; international sales increased 5.0%, which reflected an operational increase of 8.3% and a negative currency impact of 3.3%.

The strong sales results were driven by new products and the strength of our core products. New products include OLYSIO®/SOVRIAD® (simeprevir), for combination treatment of chronic hepatitis C in adult patients; XARELTO® (rivaroxaban), an oral anticoagulant; ZYTIGA® (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic, castration-resistant prostate cancer; INVOKANA® (canagliflozin), for the treatment of adults with type 2 diabetes; and IMBRUVICA® (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, or blood cancers.

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

During the quarter, the U.S. Food and Drug Administration (FDA) granted approval for the supplemental New Drug Applications (sNDAs) for INVEGA® SUSTENNA® (paliperidone palmitate) to treat schizoaffective disorder as either monotherapy or adjunctive therapy. The European Commission approved IMBRUVICA® (ibrutinib) for the treatment of adult patients with relapsed or refractory mantle cell lymphoma and adult patients with chronic lymphocytic leukemia who have received at least one prior therapy, or in first-line in the presence of 17p deletion or TP53 mutation in patients unsuitable for chemo-immunotherapy. The European Commission also approved REZOLSTA® (darunavir/cobicistat) in combination with other antiretroviral medicinal products for the treatment of human immunodeficiency virus-1 infection in adults aged 18 years or older. In addition, VELCADE® (bortezomib) received a positive opinion from the European Committee for Medicinal Products for use in combination with rituximab, cyclophosphamide, doxorubicin and prednisone, for the treatment of adult patients with previously untreated mantle cell lymphoma who are unsuitable for haematopoietic stem cell transplantation.

Two New Drug Applications (NDAs) were submitted to the FDA for regulatory approval during the quarter. These included an NDA for three-month atypical antipsychotic paliperidone palmitate as a treatment for schizophrenia in adults as well as an NDA for YONDELIS® (trabectedin) for the treatment of patients with advanced soft tissue sarcoma, including liposarcoma and leiomyosarcoma subtypes, who have received prior chemotherapy including an anthracycline. Also, a supplemental NDA was submitted to the FDA and a Type II variation application was submitted to the European Medicines Agency (EMA) for an additional indication of IMBRUVICA® (ibrutinib) for the treatment of patients with Waldenstrom's macroglobulinemia, a rare type of B-cell lymphoma.

In addition, the acquisition of Alios BioPharma, Inc., a privately-held clinical stage biopharmaceutical company focused on developing therapies for viral diseases, was completed. In January, a definitive agreement was announced to divest the U.S. license rights to NUCYNTA® (tapentadol), NUCYNTA® ER (tapentadol extended-release tablets), and NUCYNTA® (tapentadol) oral solution for approximately $1.05 billion. The transaction is expected to close in the second quarter, subject to customary closing conditions and completion of financing.

Worldwide Medical Devices sales of $27.5 billion for the full-year 2014 represented a decrease of 3.4% versus the prior year consisting of an operational decrease of 1.6% and a negative currency impact of 1.8%. Domestic sales decreased 4.3%; international sales decreased 2.7%, which reflected an operational increase of 0.5% and a negative currency impact of 3.2%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.6%, domestic sales decreased 0.6% and international sales increased 3.5%.* The divestiture of the Ortho-Clinical Diagnostics business was completed in June.

Primary contributors to operational growth were our broad portfolio of Orthopaedic products; Biosense Webster's electrophysiology products in the Cardiovascular Care business; and biosurgicals and international sales of energy products in the Specialty Surgery business.     

During the quarter, the FDA approved the Animas® Vibe™ insulin pump and Continuous Glucose Monitoring system for the management of insulin-requiring diabetes in adults ages 18 and older.

About Johnson & Johnson Caring for the world, one person at a time, inspires and unites the people of Johnson & Johnson. We embrace research and science - bringing innovative ideas, products and services to advance the health and well-being of people. Our approximately 126,500 employees at more than 265 Johnson & Johnson operating companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.

* Operational sales growth excluding the net impact of acquisitions and divestitures as well as net earnings and diluted earnings per share excluding special items are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investor Relations section of the Company's website at www.investor.jnj.com.

Johnson & Johnson will conduct a conference call with investors to discuss this news release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website at www.investor.jnj.com. A replay and podcast will be available approximately two hours after the live webcast by visiting www.investor.jnj.com

Copies of the financial schedules accompanying this press release are available at www.investor.jnj.com/historical-sales.cfm. These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including a pharmaceutical pipeline of selected compounds in late stage development and a copy of today's earnings call presentation can be found on the Company's website at www.investor.jnj.com.

NOTE TO INVESTORS

This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance. 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; uncertainty of commercial success for new and existing products; impact of business combinations and divestitures; challenges inherent in new product development, including obtaining regulatory approvals; challenges to patents; the impact of patent expirations; significant adverse litigation or government action, including related to product liability claims; changes to laws and regulations, including domestic and foreign health care reforms; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; trends toward health care cost containment; increased scrutiny of the health care industry by government agencies; financial instability of international economies and sovereign risk; manufacturing difficulties or delays, internally or within the supply chain; and product efficacy or safety concerns resulting in product recalls or regulatory action. A further list and description of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2013, including Exhibit 99 thereto, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.investor.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statements as a result of new information or future events or developments.

Johnson & Johnson and Subsidiaries

Supplementary Sales Data

(Unaudited; Dollars in Millions)

FOURTH QUARTER

TWELVE MONTHS

Percent Change

Percent Change

2014

2013

Total

Operations

Currency

2014

2013

Total

Operations

Currency

Sales to customers by

segment of business

Consumer

    U.S.

$   1,294

1,263

2.5

%

2.5

-

$   5,096

5,162

(1.3)

%

(1.3)

-

    International

2,312

2,490

(7.1)

0.1

(7.2)

9,400

9,535

(1.4)

2.3

(3.7)

3,606

3,753

(3.9)

0.9

(4.8)

14,496

14,697

(1.4)

1.0

(2.4)

Pharmaceutical

    U.S.

4,356

3,551

22.7

22.7

-

17,432

13,948

25.0

25.0

-

    International

3,643

3,745

(2.7)

5.8

(8.5)

14,881

14,177

5.0

8.3

(3.3)

7,999

7,296

9.6

13.9

(4.3)

32,313

28,125

14.9

16.5

(1.6)

Medical Devices

    U.S.

2,954

3,200

(7.7)

(7.7)

-

12,254

12,800

(4.3)

(4.3)

-

    International

3,695

4,106

(10.0)

(2.3)

(7.7)

15,268

15,690

(2.7)

0.5

(3.2)

6,649

7,306

(9.0)

(4.7)

(4.3)

27,522

28,490

(3.4)

(1.6)

(1.8)

U.S.

8,604

8,014

7.4

7.4

-

34,782

31,910

9.0

9.0

-

International

9,650

10,341

(6.7)

1.2

(7.9)

39,549

39,402

0.4

3.7

(3.3)

Worldwide

$ 18,254

18,355

(0.6)

%

3.9

(4.5)

$ 74,331

71,312

4.2

%

6.1

(1.9)

 

Johnson & Johnson and Subsidiaries

Supplementary Sales Data

(Unaudited; Dollars in Millions)

FOURTH QUARTER

TWELVE MONTHS

Percent Change

Percent Change

2014

2013

Total

Operations

Currency

2014

2013

Total

Operations

Currency

Sales to customers by

geographic area

U.S.

$   8,604

8,014

7.4

%

7.4

-

$ 34,782

31,910

9.0

%

9.0

-

Europe

4,560

4,968

(8.2)

0.6

(8.8)

18,947

18,599

1.9

2.6

(0.7)

Western Hemisphere excluding U.S.

1,782

1,891

(5.8)

3.9

(9.7)

7,160

7,421

(3.5)

5.2

(8.7)

Asia-Pacific, Africa

3,308

3,482

(5.0)

0.6

(5.6)

13,442

13,382

0.4

4.4

(4.0)

International

9,650

10,341

(6.7)

1.2

(7.9)

39,549

39,402

0.4

3.7

(3.3)

Worldwide

$ 18,254

18,355

(0.6)

%

3.9

(4.5)

$ 74,331

71,312

4.2

%

6.1

(1.9)

 

Johnson & Johnson and Subsidiaries

Condensed Consolidated Statement of Earnings 

(Unaudited; in Millions Except Per Share Figures)

FOURTH QUARTER

2014

2013

Percent

Percent

Percent

Increase

Amount

to Sales

Amount

to Sales

(Decrease)

Sales to customers

$  18,254

100.0

$  18,355

100.0

(0.6)

Cost of products sold

5,853

32.1

5,955

32.5

(1.7)

Selling, marketing and administrative expenses

5,822

31.9

5,917

32.2

(1.6)

Research and development expense

2,635

14.4

2,411

13.1

9.3

In-process research and development

156

0.8

338

1.9

Interest (income) expense, net

122

0.7

116

0.6

Other (income) expense, net

963

5.3

868

4.7

Earnings before provision for taxes on income

2,703

14.8

2,750

15.0

(1.7)

Provision for/(Benefit from) taxes on income

182

1.0

(769)

(4.2)

Net earnings

$    2,521

13.8

$    3,519

19.2

(28.4)

Net earnings per share (Diluted)

$      0.89

$      1.23

(27.6)

Average shares outstanding (Diluted)

2,845.3

2,872.0

Effective tax rate

6.7

%

(28.0)

%

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

Earnings before provision for taxes on income

$    3,925

21.5

$    3,909

21.3

0.4

Net earnings 

$    3,612

19.8

$    3,561

19.4

1.4

Net earnings per share (Diluted)

$      1.27

$      1.24

2.4

Effective tax rate

8.0

%

8.9

%

(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

2014

2013

Percent

Percent

Percent

Increase

Amount

to Sales

Amount

to Sales

(Decrease)

Sales to customers

$  74,331

100.0

$  71,312

100.0

4.2

Cost of products sold

22,746

30.6

22,342

31.3

1.8

Selling, marketing and administrative expenses

21,954

29.5

21,830

30.6

0.6

Research and development expense

8,494

11.4

8,183

11.5

3.8

In-process research and development

178

0.3

580

0.8

Interest (income) expense, net

466

0.6

408

0.6

Other (income) expense, net

(70)

(0.1)

2,498

3.5

Earnings before provision for taxes on income

20,563

27.7

15,471

21.7

32.9

Provision for taxes on income

4,240

5.7

1,640

2.3

Net earnings

$  16,323

22.0

$  13,831

19.4

18.0

Net earnings per share (Diluted)

$      5.70

$      4.81

18.5

Average shares outstanding (Diluted)

2,863.9

2,877.0

Effective tax rate

20.6

%

10.6

%

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

Earnings before provision for taxes on income

$  21,195

28.5

$  19,169

26.9

10.6

Net earnings 

$  17,105

23.0

$  15,876

22.3

7.7

Net earnings per share (Diluted)

$      5.97

$      5.52

8.2

Effective tax rate

19.3

%

17.2

%

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

 

Johnson & Johnson and Subsidiaries

Reconciliation of Non-GAAP Financial Measures

Fourth Quarter

% Incr. /

Twelve Months 

% Incr. /

(Dollars in Millions Except Per Share Data)

2014

2013

(Decr.)

2014

2013

(Decr.)

Earnings before provision for taxes on income - as reported

$    2,703

2,750

(1.7)

%

$ 20,563

15,471

32.9

%

Ortho-Clinical Diagnostics divestiture net (gain)/expense

49

-

(1,899)

-

Litigation expenses

692

506

1,253

2,282

Synthes integration/transaction costs 

325

181

754

683

Additional year of Branded Prescription Drug Fee

-

-

220

-

In-process research and development

156

338

178

580

DePuy ASRTMHip program

-

134

126

251

Other

-

-

-

(98)

Earnings before provision for taxes on income - as adjusted

$    3,925

3,909

0.4

%

$ 21,195

19,169

10.6

%

Net Earnings - as reported

$    2,521

3,519

(28.4)

%

$ 16,323

13,831

18.0

%

Ortho-Clinical Diagnostics divestiture net (gain)/expense

87

-

(1,062)

-

Litigation expenses

652

227

1,225

(1)

1,646

Synthes integration/transaction costs 

237

110

555

483

Additional year of Branded Prescription Drug Fee

-

-

220

-

In-process research and development

115

294

131

462

DePuy ASRTMHip program

-

118

111

240

Tax benefit associated with Conor Medsystems

-

-

(398)

-

Scios tax benefit

-

(707)

-

(707)

Other

-

-

-

(79)

Net Earnings  - as adjusted 

$    3,612

3,561

1.4

%

$ 17,105

15,876

7.7

%

Diluted Net Earnings per share  - as reported

$     0.89

1.23

(27.6)

%

$     5.70

4.81

18.5

%

Ortho-Clinical Diagnostics divestiture net (gain)/expense

0.03

-

(0.37)

-

Litigation expenses

0.23

0.08

0.43

0.57

Synthes integration/transaction costs 

0.08

0.04

0.19

0.17

Additional year of Branded Prescription Drug Fee

-

-

0.08

-

In-process research and development

0.04

0.10

0.04

0.16

DePuy ASRTMHip program

-

0.04

0.04

0.08

Tax benefit associated with Conor Medsystems

-

-

(0.14)

-

Scios Tax Benefit

-

(0.25)

-

(0.25)

Other

-

-

-

(0.02)

Diluted Net Earnings per share  - as adjusted 

$     1.27

1.24

2.4

%

$     5.97

5.52

8.2

%

(1) Includes adjustment to deferred tax asset related to deductibility by tax jurisdiction

 

Johnson & Johnson and Subsidiaries

Reconciliation of Non-GAAP Financial Measure

Operational Sales Growth Excluding Acquisitions and Divestitures

 FOURTH QUARTER 2014 ACTUAL vs. 2013 ACTUAL 

 Segments 

Operational % (1)

 Consumer 

 Pharmaceutical 

 Medical Devices 

 Total  

 WW As Reported: 

0.9%

13.9%

(4.7)%

3.9%

 U.S. 

2.5%

22.7%

(7.7)%

7.4%

 International 

0.1%

5.8%

(2.3)%

1.2%

Women's Health

Sanitary Protection

0.5

0.1

 U.S. 

1.4

0.2

 International 

0.1

0.0

Women's Health

K-Y ®

0.5

0.2

 U.S. 

1.0

0.2

 International 

0.3

0.1

Diagnostics

Ortho-Clinical Diagnostics

6.2

2.5

 U.S. 

6.7

2.9

 International 

5.8

2.3

All Other Acquisitions and Divestitures

0.2

0.0

 U.S. 

0.0

0.0

 International 

0.2

0.0

WW Ops excluding Acquisitions and Divestitures

2.1%

13.9%

1.5%

6.7%

 U.S. 

4.9%

22.7%

(1.0)%

10.7%

 International 

0.7%

5.8%

3.5%

3.6%

(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

 TWELVE MONTHS 2014 ACTUAL vs. 2013 ACTUAL 

 Segments 

Operational % (1)

 Consumer 

 Pharmaceutical 

 Medical Devices 

 Total  

 WW As Reported: 

1.0%

16.5%

(1.6)%

6.1%

 U.S. 

(1.3)%

25.0%

(4.3)%

9.0%

 International 

2.3%

8.3%

0.5%

3.7%

Women's Health

Sanitary Protection

1.4

0.3

 U.S. 

3.8

0.6

 International 

0.1

0.0

Women's Health

K-Y ®

0.3

0.1

 U.S. 

0.6

0.1

 International 

0.1

0.0

Diagnostics

Ortho-Clinical Diagnostics

3.2

1.4

 U.S. 

3.7

1.8

 International 

3.0

1.2

All Other Acquisitions and Divestitures

0.1

0.1

0.1

 U.S. 

0.0

0.1

0.1

 International 

0.1

0.1

0.2

WW Ops excluding Acquisitions and Divestitures

2.8%

16.6%

1.6%

8.0%

 U.S. 

3.1%

25.1%

(0.6)%

11.6%

 International 

2.6%

8.4%

3.5%

5.1%

(1)Operational growth excludes the effect of translational currency

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

FOURTH QUARTER

TWELVE MONTHS

% Change

% Change

2014

2013

Reported

Operational (1)

Currency

2014

2013

Reported

Operational (1)

Currency

CONSUMER SEGMENT (2)

BABY CARE

US

$            96

105

-8.6%

-8.6%

-

$              407

413

-1.5%

-1.5%

-

Intl

428

480

-10.8%

-4.8%

-6.0%

1,832

1,882

-2.7%

1.8%

-4.5%

WW

524

585

-10.4%

-5.5%

-4.9%

2,239

2,295

-2.4%

1.3%

-3.7%

ORAL CARE

US

150

153

-2.0%

-2.0%

-

600

602

-0.3%

-0.3%

-

Intl

264

265

-0.4%

6.1%

-6.5%

1,047

1,020

2.6%

5.9%

-3.3%

WW

414

418

-1.0%

3.1%

-4.1%

1,647

1,622

1.5%

3.6%

-2.1%

OTC

US

362

332

9.0%

9.0%

-

1,357

1,286

5.5%

5.5%

-

Intl

711

747

-4.8%

3.6%

-8.4%

2,749

2,742

0.3%

3.7%

-3.4%

WW

1,073

1,079

-0.6%

5.2%

-5.8%

4,106

4,028

1.9%

4.2%

-2.3%

SKIN CARE

US

471

432

9.0%

9.0%

-

1,834

1,752

4.7%

4.7%

-

Intl

485

538

-9.9%

-3.7%

-6.2%

1,924

1,952

-1.4%

1.2%

-2.6%

WW

956

970

-1.4%

2.0%

-3.4%

3,758

3,704

1.5%

2.9%

-1.4%

WOMEN'S HEALTH

US

7

38

-81.6%

-81.6%

-

50

280

-82.1%

-82.1%

-

Intl

301

310

-2.9%

6.0%

-8.9%

1,252

1,288

-2.8%

2.6%

-5.4%

WW

308

348

-11.5%

-3.6%

-7.9%

1,302

1,568

-17.0%

-12.6%

-4.4%

WOUND CARE/OTHER

US

208

203

2.5%

2.5%

-

848

829

2.3%

2.3%

-

Intl

123

150

-18.0%

-11.6%

-6.4%

596

651

-8.4%

-6.3%

-2.1%

WW

331

353

-6.2%

-3.5%

-2.7%

1,444

1,480

-2.4%

-1.5%

-0.9%

TOTAL CONSUMER

US

1,294

1,263

2.5%

2.5%

-

5,096

5,162

-1.3%

-1.3%

-

Intl

2,312

2,490

-7.1%

0.1%

-7.2%

9,400

9,535

-1.4%

2.3%

-3.7%

WW

$       3,606

3,753

-3.9%

0.9%

-4.8%

$         14,496

14,697

-1.4%

1.0%

-2.4%

See footnotes at end of schedule

REPORTED SALES vs. PRIOR PERIOD ($MM)

FOURTH QUARTER

TWELVE MONTHS

% Change

% Change

2014

2013

Reported

Operational (1)

Currency

2014

2013

Reported

Operational (1)

Currency

PHARMACEUTICAL SEGMENT (2) (3)

IMMUNOLOGY

US

$       1,816

1,726

5.2%

5.2%

-

$           7,111

6,591

7.9%

7.9%

-

Intl

762

676

12.7%

22.2%

-9.5%

3,082

2,599

18.6%

23.3%

-4.7%

WW

2,578

2,402

7.3%

10.0%

-2.7%

10,193

9,190

10.9%

12.2%

-1.3%

REMICADE

US 

$       1,052

982

7.1%

7.1%

-

4,155

3,891

6.8%

6.8%

-

US Exports (4)

244

367

-33.5%

-33.5%

-

1,078

1,339

-19.5%

-19.5%

-

Intl

376

363

3.6%

12.6%

-9.0%

1,635

1,443

13.3%

19.0%

-5.7%

WW

1,672

1,712

-2.3%

-0.4%

-1.9%

6,868

6,673

2.9%

4.1%

-1.2%

SIMPONI/SIMPONI ARIA

US

164

112

46.4%

46.4%

-

544

404

34.7%

34.7%

-

Intl

182

142

28.2%

39.0%

-10.8%

643

528

21.8%

26.4%

-4.6%

WW

346

254

36.2%

42.2%

-6.0%

1,187

932

27.4%

30.0%

-2.6%

STELARA

US

356

265

34.3%

34.3%

-

1,334

957

39.4%

39.4%

-

Intl

189

152

24.3%

34.3%

-10.0%

738

547

34.9%

37.3%

-2.4%

WW

545

417

30.7%

34.4%

-3.7%

2,072

1,504

37.8%

38.7%

-0.9%

OTHER IMMUNOLOGY

US

-

-

-

-

-

-

-

-

-

-

Intl

15

19

-21.1%

-15.9%

-5.2%

66

81

-18.5%

-14.3%

-4.2%

WW

15

19

-21.1%

-15.9%

-5.2%

66

81

-18.5%

-14.3%

-4.2%

INFECTIOUS DISEASES

US

564

302

86.8%

86.8%

-

3,112

1,077

*

*

-

Intl

512

642

-20.2%

-12.1%

-8.1%

2,487

2,473

0.6%

2.5%

-1.9%

WW

1,076

944

14.0%

19.5%

-5.5%

5,599

3,550

57.7%

58.6%

-0.9%

EDURANT

US

6

5

20.0%

20.0%

-

24

15

60.0%

60.0%

-

Intl

84

68

23.5%

33.8%

-10.3%

341

221

54.3%

54.3%

0.0%

WW

90

73

23.3%

32.9%

-9.6%

365

236

54.7%

54.7%

0.0%

INCIVO

US

-

-

-

-

-

-

-

-

-

-

Intl

5

107

-95.3%

-90.7%

-4.6%

226

517

-56.3%

-55.0%

-1.3%

WW

5

107

-95.3%

-90.7%

-4.6%

226

517

-56.3%

-55.0%

-1.3%

OLYSIO/SOVRIAD

US

256

13

*

*

-

1,943

13

*

*

-

Intl

65

10

*

*

-12.5%

359

10

*

*

-2.3%

WW

321

23

*

*

-2.5%

2,302

23

*

*

-0.4%

PREZISTA

US

243

229

6.1%

6.1%

-

930

807

15.2%

15.2%

-

Intl

205

232

-11.6%

-3.5%

-8.1%

901

866

4.0%

5.9%

-1.9%

WW

448

461

-2.8%

1.3%

-4.1%

1,831

1,673

9.4%

10.4%

-1.0%

OTHER INFECTIOUS DISEASES

US

59

55

7.3%

7.3%

-

215

242

-11.2%

-11.2%

-

Intl

153

225

-32.0%

-26.1%

-5.9%

660

859

-23.2%

-21.2%

-2.0%

WW

212

280

-24.3%

-19.6%

-4.7%

875

1,101

-20.5%

-18.9%

-1.6%

REPORTED SALES vs. PRIOR PERIOD ($MM)

FOURTH QUARTER

TWELVE MONTHS

% Change

% Change

2014

2013

Reported

Operational (1)

Currency

2014

2013

Reported

Operational (1)

Currency

NEUROSCIENCE

US

645

611

5.6%

5.6%

-

2,452

2,584

-5.1%

-5.1%

-

Intl

1,006

1,040

-3.3%

5.1%

-8.4%

4,035

4,083

-1.2%

2.2%

-3.4%

WW

1,651

1,651

0.0%

5.3%

-5.3%

6,487

6,667

-2.7%

-0.6%

-2.1%

CONCERTA/METHYLPHENIDATE

US

55

46

19.6%

19.6%

-

152

308

-50.6%

-50.6%

-

Intl

114

123

-7.3%

0.5%

-7.8%

447

474

-5.7%

-1.6%

-4.1%

WW

169

169

0.0%

5.7%

-5.7%

599

782

-23.4%

-20.9%

-2.5%

INVEGA

US

96

87

10.3%

10.3%

-

360

316

13.9%

13.9%

-

Intl

65

67

-3.0%

7.0%

-10.0%

280

267

4.9%

8.7%

-3.8%

WW

161

154

4.5%

8.9%

-4.4%

640

583

9.8%

11.5%

-1.7%

INVEGA SUSTENNA/ XEPLION

US

226

188

20.2%

20.2%

-

825

690

19.6%

19.6%

-

Intl

192

162

18.5%

27.8%

-9.3%

763

558

36.7%

39.1%

-2.4%

WW

418

350

19.4%

23.7%

-4.3%

1,588

1,248

27.2%

28.3%

-1.1%

RISPERDAL CONSTA

US

104

113

-8.0%

-8.0%

-

427

440

-3.0%

-3.0%

-

Intl

190

208

-8.7%

-0.5%

-8.2%

763

878

-13.1%

-10.9%

-2.2%

WW

294

321

-8.4%

-3.1%

-5.3%

1,190

1,318

-9.7%

-8.2%

-1.5%

OTHER NEUROSCIENCE

US

164

177

-7.3%

-7.3%

-

688

830

-17.1%

-17.1%

-

Intl

445

480

-7.3%

0.8%

-8.1%

1,782

1,906

-6.5%

-2.4%

-4.1%

WW

609

657

-7.3%

-1.4%

-5.9%

2,470

2,736

-9.7%

-6.9%

-2.8%

ONCOLOGY

US

334

216

54.6%

54.6%

-

1,157

848

36.4%

36.4%

-

Intl

878

897

-2.1%

6.7%

-8.8%

3,300

2,925

12.8%

16.0%

-3.2%

WW

1,212

1,113

8.9%

16.0%

-7.1%

4,457

3,773

18.1%

20.6%

-2.5%

VELCADE

US

-

-

-

-

-

-

-

-

-

-

Intl

418

524

-20.2%

-12.1%

-8.1%

1,618

1,660

-2.5%

1.1%

-3.6%

WW

418

524

-20.2%

-12.1%

-8.1%

1,618

1,660

-2.5%

1.1%

-3.6%

ZYTIGA

US

255

211

20.9%

20.9%

-

971

750

29.5%

29.5%

-

Intl

340

284

19.7%

29.9%

-10.2%

1,266

948

33.5%

36.1%

-2.6%

WW

595

495

20.2%

26.0%

-5.8%

2,237

1,698

31.7%

33.1%

-1.4%

OTHER ONCOLOGY

US

79

5

 * 

 * 

-

186

98

89.8%

89.8%

-

Intl

120

89

34.8%

43.9%

-9.1%

416

317

31.2%

34.2%

-3.0%

WW

199

94

*

*

-8.6%

602

415

45.1%

47.4%

-2.3%

REPORTED SALES vs. PRIOR PERIOD ($MM)

FOURTH QUARTER

TWELVE MONTHS

% Change

% Change

2014

2013

Reported

Operational (1)

Currency

2014

2013

Reported

Operational (1)

Currency

TOTAL OTHER

US

997

696

43.2%

43.2%

-

3,600

2,848

26.4%

26.4%

-

Intl

485

490

-1.0%

6.0%

-7.0%

1,977

2,097

-5.7%

-3.4%

-2.3%

WW

1,482

1,186

25.0%

27.9%

-2.9%

5,577

4,945

12.8%

13.8%

-1.0%

PROCRIT/EPREX

US

177

168

5.4%

5.4%

-

715

795

-10.1%

-10.1%

-

Intl

125

139

-10.1%

-3.2%

-6.9%

523

569

-8.1%

-6.2%

-1.9%

WW

302

307

-1.6%

1.5%

-3.1%

1,238

1,364

-9.2%

-8.4%

-0.8%

XARELTO

US

428

271

57.9%

57.9%

-

1,522

864

76.2%

76.2%

-

Intl

-

-

-

-

-

-

-

-

-

-

WW

428

271

57.9%

57.9%

-

1,522

864

76.2%

76.2%

-

OTHER

US

392

257

52.5%

52.5%

-

1,363

1,189

14.6%

14.6%

-

Intl

360

351

2.6%

9.6%

-7.0%

1,454

1,528

-4.8%

-2.4%

-2.4%

WW

752

608

23.7%

27.7%

-4.0%

2,817

2,717

3.7%

5.0%

-1.3%

TOTAL PHARMACEUTICAL

US

4,356

3,551

22.7%

22.7%

-

17,432

13,948

25.0%

25.0%

-

Intl

3,643

3,745

-2.7%

5.8%

-8.5%

14,881

14,177

5.0%

8.3%

-3.3%

WW

$       7,999

7,296

9.6%

13.9%

-4.3%

$         32,313

28,125

14.9%

16.5%

-1.6%

See footnotes at end of schedule

REPORTED SALES vs. PRIOR PERIOD ($MM)

FOURTH QUARTER

TWELVE MONTHS

% Change

% Change

2014

2013

Reported

Operational (1)

Currency

2014

2013

Reported

Operational (1)

Currency

MEDICAL DEVICES (2) (3) (7)

CARDIOVASCULAR CARE

US

$          222

210

5.7%

5.7%

-

$              862

808

6.7%

6.7%

-

Intl

336

324

3.7%

12.4%

-8.7%

1,346

1,269

6.1%

9.4%

-3.3%

WW

558

534

4.5%

9.8%

-5.3%

2,208

2,077

6.3%

8.3%

-2.0%

DIABETES CARE

US

206

219

-5.9%

-5.9%

-

864

998

-13.4%

-13.4%

-

Intl

308

344

-10.5%

-1.5%

-9.0%

1,278

1,311

-2.5%

0.8%

-3.3%

WW

514

563

-8.7%

-3.2%

-5.5%

2,142

2,309

-7.2%

-5.3%

-1.9%

DIAGNOSTICS (5)

US

-

215

**

**

-

456

926

-50.8%

-50.8%

-

Intl

14

251

-94.4%

-90.5%

-3.9%

506

959

-47.2%

-44.9%

-2.3%

WW

14

466

-97.0%

-94.9%

-2.1%

962

1,885

-49.0%

-47.8%

-1.2%

ORTHOPAEDICS

US 

1,339

1,307

2.4%

2.4%

-

5,197

5,074

2.4%

2.4%

-

Intl

1,102

1,149

-4.1%

3.3%

-7.4%

4,478

4,435

1.0%

3.5%

-2.5%

WW

2,441

2,456

-0.6%

2.8%

-3.4%

9,675

9,509

1.7%

2.9%

-1.2%

SPECIALTY SURGERY/OTHER (6)

US

425

422

0.7%

0.7%

-

1,679

1,664

0.9%

0.9%

-

Intl

479

507

-5.5%

2.1%

-7.6%

1,862

1,840

1.2%

4.9%

-3.7%

WW

904

929

-2.7%

1.5%

-4.2%

3,541

3,504

1.1%

3.0%

-1.9%

SURGICAL CARE 

US

567

599

-5.3%

-5.3%

-

2,221

2,294

-3.2%

-3.2%

-

Intl

1,005

1,040

-3.4%

4.0%

-7.4%

3,955

3,975

-0.5%

2.6%

-3.1%

WW

1,572

1,639

-4.1%

0.6%

-4.7%

6,176

6,269

-1.5%

0.5%

-2.0%

VISION CARE

US

195

228

-14.5%

-14.5%

-

975

1,036

-5.9%

-5.9%

-

Intl

451

491

-8.1%

1.7%

-9.8%

1,843

1,901

-3.1%

1.7%

-4.8%

WW

646

719

-10.2%

-3.5%

-6.7%

2,818

2,937

-4.1%

-1.0%

-3.1%

TOTAL MEDICAL DEVICES

US

2,954

3,200

-7.7%

-7.7%

-

12,254

12,800

-4.3%

-4.3%

-

Intl

3,695

4,106

-10.0%

-2.3%

-7.7%

15,268

15,690

-2.7%

0.5%

-3.2%

WW

$       6,649

7,306

-9.0%

-4.7%

-4.3%

$         27,522

28,490

-3.4%

-1.6%

-1.8%

* 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) Reflects Diagnostics divestiture June 30, 2014

(6) Infection Prevention now reflected in Specialty Surgery/Other, previously reported independently

(7) Previously referred to as  Medical Devices and Diagnostics

 

 

SOURCE Johnson & Johnson



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