Johnson & Johnson Reports 2015 Second-Quarter Results:

Sales of $17.8 Billion Decreased 8.8% Versus 2014 Second Quarter

Second-Quarter EPS was $1.61

Adjusted 2015 Second-Quarter EPS of $1.71 Decreased 3.9%*

Solid Underlying Growth Offset by Currency and Divestitures

Jul 14, 2015, 07:45 ET from Johnson & Johnson

NEW BRUNSWICK, N.J., July 14, 2015 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced sales of $17.8 billion for the second quarter of 2015, a decrease of 8.8% as compared to the second quarter of 2014.  Operational results decreased 0.9% and the negative impact of currency was 7.9%. Domestic sales decreased 2.4%. International sales decreased 14.3%, reflecting operational growth of 0.5% and a negative currency impact of 14.8%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.7%, domestic sales increased 0.6% and international sales increased 2.7%.* Additionally excluding hepatitis C sales, underlying operational growth worldwide was 5%.*

Net earnings and diluted earnings per share for the second quarter of 2015 were $4.5 billion and $1.61, respectively.  Second quarter 2015 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a charge for after-tax special items of approximately $0.1 billion. Second quarter 2014 net earnings included after-tax intangible amortization expense of approximately $0.4 billion and a charge for after-tax special items of approximately $0.4 billion.  A reconciliation of non-GAAP financial measures is included as an accompanying schedule.  Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $4.8 billion and adjusted diluted earnings per share were $1.71, representing decreases of 6.3% and 3.9%, respectively, as compared to the same period in 2014.*  On an operational basis, adjusted diluted earnings per share increased 6.7%.*

"Our solid sales and earnings results in the quarter reflect the strong underlying growth we're seeing across the enterprise," said Alex Gorsky, Chairman and Chief Executive Officer.  "Our diverse portfolio and scale are enabling this performance, and we've continued to invest in building a robust enterprise pipeline that will drive our growth over the long term.  Our passion to deliver transformational new medicines and products reflects the ongoing commitment of our dedicated employees to improve health and well-being."

The Company increased its adjusted earnings guidance for full-year 2015 to $6.10 - $6.20 per share.  The Company's guidance excludes the impact of after-tax intangible amortization expense and special items.

Worldwide Consumer sales of $3.5 billion for the second quarter represented a decrease of 7.0% versus the prior year, consisting of an operational increase of 2.3% and a negative impact from currency of 9.3%. Domestic sales increased 2.7%; international sales decreased 12.2%, which reflected an operational increase of 2.1% and a negative currency impact of 14.3%.  Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 3.1%, domestic sales increased 2.9% and international sales increased 3.2%.*  

Positive contributors to Consumer operational results were sales of over-the-counter products including ZYRTEC® allergy medications and TYLENOL® analgesics; international feminine protection products; and LISTERINE® oral care products.

Worldwide Pharmaceutical sales of $7.9 billion for the second quarter represented a decrease of 6.6% versus the prior year with operational growth of 1.0% and a negative impact from currency of 7.6%. Domestic sales decreased 1.5%; international sales decreased 12.7%, which reflected an operational increase of 3.8% and a negative currency impact of 16.5%.  Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.5%, domestic sales decreased 0.6% and international sales increased 3.9%.*  Additionally excluding hepatitis C sales, underlying operational growth worldwide was 9.7%.*

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

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; domestic sales of CONCERTA® (methylphenidate HCI), for the treatment of attention deficit hyperactivity disorder; and SIMPONI®/SIMPONI ARIA® (golimumab), 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 of INVEGA TRINZA(paliperidone palmitate), an atypical antipsychotic injection administered four times a year for the treatment of schizophrenia.  In July, a rolling submission was completed with the FDA for the Biologic License Application for daratumumab for the treatment of multiple myeloma.  The European Commission approved STELARA® (ustekinumab) for the treatment of adolescents with moderate-to-severe psoriasis, SIMPONI® (golimumab) for treatment of non-radiographic axial spondyloarthritis and IMBRUVICA® (ibrutinib) for the treatment of Waldenström's Macroglobulinemia. 

Also in the quarter, an exclusive worldwide license and collaboration arrangement was entered into with Achillion Pharmaceuticals, Inc. to develop and commercialize one or more of Achillion's lead hepatitis C virus assets.

Worldwide Medical Devices sales of $6.4 billion for the second quarter represented a decrease of 12.2% versus the prior year consisting of an operational decrease of 4.7% and a negative currency impact of 7.5%. Domestic sales decreased 5.8%; international sales decreased 17.3%, which reflected an operational decrease of 3.9% and a negative currency impact of 13.4%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.4%, domestic sales increased 1.6% and international sales increased 1.4%.*

Primary contributors to operational growth were sales of endocutters in the Surgical Care business; electrophysiology products in the Cardiovascular Care business; joint reconstruction products in the Orthopaedics business; international sales of contact lenses in the Vision Care business; and sales of biosurgicals and energy products in the Specialty Surgery business. 

During the quarter, the Company announced the acceptance of the March 1, 2015 binding offer from Cardinal Health to acquire its Cordis business for an approximate value of $2 billion.

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 127,300 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, divestitures and hepatitis C sales, as well as adjusted net earnings, adjusted diluted earnings per share and operational adjusted diluted earnings per share excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures.  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, 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 and uncertainties inherent in new product development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; the ability of the company to successfully execute strategic plans; impact of business combinations and divestitures; challenges to patents; the impact of patent expirations; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; increased scrutiny of the health care industry by government agencies; and the potential failure to meet obligations in compliance agreements with government bodies. A further list and description of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 28, 2014, 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)

SECOND QUARTER

SIX MONTHS

Percent Change

Percent Change

2015

2014

Total

Operations

Currency

2015

2014

Total

Operations

Currency

Sales to customers by

segment of business

Consumer

    U.S.

$   1,355

1,320

2.7

%

2.7

-

$   2,714

2,629

3.2

%

3.2

-

    International

2,128

2,424

(12.2)

2.1

(14.3)

4,159

4,672

(11.0)

2.6

(13.6)

3,483

3,744

(7.0)

2.3

(9.3)

6,873

7,301

(5.9)

2.8

(8.7)

Pharmaceutical

    U.S.

4,543

4,613

(1.5)

(1.5)

-

8,914

8,353

6.7

6.7

-

    International

3,403

3,896

(12.7)

3.8

(16.5)

6,758

7,654

(11.7)

3.8

(15.5)

7,946

8,509

(6.6)

1.0

(7.6)

15,672

16,007

(2.1)

5.3

(7.4)

Medical Devices

    U.S.

3,013

3,199

(5.8)

(5.8)

-

5,975

6,354

(6.0)

(6.0)

-

    International

3,345

4,043

(17.3)

(3.9)

(13.4)

6,641

7,948

(16.4)

(3.5)

(12.9)

6,358

7,242

(12.2)

(4.7)

(7.5)

12,616

14,302

(11.8)

(4.6)

(7.2)

U.S.

8,911

9,132

(2.4)

(2.4)

-

17,603

17,336

1.5

1.5

-

International

8,876

10,363

(14.3)

0.5

(14.8)

17,558

20,274

(13.4)

0.6

(14.0)

Worldwide

$ 17,787

19,495

(8.8)

%

(0.9)

(7.9)

$ 35,161

37,610

(6.5)

%

1.1

(7.6)

 

Johnson & Johnson and Subsidiaries

Supplementary Sales Data

(Unaudited; Dollars in Millions)

SECOND QUARTER

SIX MONTHS

Percent Change

Percent Change

2015

2014

Total

Operations

Currency

2015

2014

Total

Operations

Currency

Sales to customers by

geographic area

U.S.

$   8,911

9,132

(2.4)

%

(2.4)

-

$ 17,603

17,336

1.5

%

1.5

-

Europe

4,151

5,056

(17.9)

1.0

(18.9)

8,191

9,941

(17.6)

0.7

(18.3)

Western Hemisphere excluding U.S.

1,501

1,863

(19.4)

(4.0)

(15.4)

3,140

3,558

(11.7)

2.6

(14.3)

Asia-Pacific, Africa

3,224

3,444

(6.4)

2.2

(8.6)

6,227

6,775

(8.1)

(0.4)

(7.7)

International

8,876

10,363

(14.3)

0.5

(14.8)

17,558

20,274

(13.4)

0.6

(14.0)

Worldwide

$ 17,787

19,495

(8.8)

%

(0.9)

(7.9)

$ 35,161

37,610

(6.5)

%

1.1

(7.6)

 

Johnson & Johnson and Subsidiaries

Condensed Consolidated Statement of Earnings 

(Unaudited; in Millions Except Per Share Figures)

SECOND QUARTER

2015

2014

Percent

Percent

Percent

Increase

Amount

to Sales

Amount

to Sales

(Decrease)

Sales to customers

$ 17,787

100.0

$ 19,495

100.0

(8.8)

Cost of products sold

5,357

30.1

6,039

31.0

(11.3)

Selling, marketing and administrative expenses

5,384

30.3

5,481

28.1

(1.8)

Research and development expense

2,129

12.0

2,005

10.3

6.2

In-process research and development

-

-

4

0.0

Interest (income) expense, net

107

0.6

114

0.6

Other (income) expense, net

(931)

(5.3)

226

1.1

Earnings before provision for taxes on income

5,741

32.3

5,626

28.9

2.0

Provision for taxes on income

1,225

6.9

1,300

6.7

(5.8)

Net earnings

$   4,516

25.4

$   4,326

22.2

4.4

Net earnings per share (Diluted)

$     1.61

$     1.51

6.6

Average shares outstanding (Diluted)

2,812.0

2,874.2

Effective tax rate

21.3

%

23.1

%

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

Earnings before provision for taxes on income

$   6,248

35.1

$   6,524

33.5

(4.2)

Net earnings

$   4,812

27.1

$   5,133

26.3

(6.3)

Net earnings per share (Diluted)

$     1.71

$     1.78

(3.9)

Effective tax rate

23.0

%

21.3

%

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

 

Johnson & Johnson and Subsidiaries

Condensed Consolidated Statement of Earnings 

(Unaudited; in Millions Except Per Share Figures)

SIX MONTHS

2015

2014

Percent

Percent

Percent

Increase

Amount

to Sales

Amount

to Sales

(Decrease)

Sales to customers

$ 35,161

100.0

$ 37,610

100.0

(6.5)

Cost of products sold

10,639

30.2

11,494

30.6

(7.4)

Selling, marketing and administrative expenses

10,231

29.1

10,664

28.3

(4.1)

Research and development expense

4,028

11.5

3,836

10.2

5.0

In-process research and development

-

-

22

0.1

Interest (income) expense, net

226

0.6

232

0.6

Other (income) expense, net

(1,279)

(3.6)

312

0.8

Earnings before provision for taxes on income

11,316

32.2

11,050

29.4

2.4

Provision for taxes on income

2,480

7.1

1,997

5.3

24.2

Net earnings

$   8,836

25.1

$   9,053

24.1

(2.4)

Net earnings per share (Diluted)

$     3.13

$     3.15

(0.6)

Average shares outstanding (Diluted)

2,821.0

2,875.5

Effective tax rate

21.9

%

18.1

%

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

  Earnings before provision for taxes on income

$ 11,878

33.8

$ 12,452

33.1

(4.6)

  Net earnings

$   9,230

26.3

$   9,826

26.1

(6.1)

  Net earnings per share (Diluted)

$     3.27

$     3.41

(4.1)

  Effective tax rate

22.3

%

21.1

%

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

 

Johnson & Johnson and Subsidiaries

Reconciliation of Non-GAAP Financial Measures

Second Quarter

% Incr. /

Six Months YTD

% Incr. /

(Dollars in Millions Except Per Share Data)

2015

2014

(Decr.)

2015

2014

(Decr.)

Earnings before provision for taxes on income - as reported

$ 5,741

5,626

2.0

%

$ 11,316

11,050

2.4

%

Intangible asset amortization expense

318

474

630

842

Litigation expense/(gain), net

134

276

(268)

276

Synthes integration costs 

49

144

81

262

DePuy ASR™Hip program

9

-

148

-

In-process research and development

-

4

-

22

Ortho-Clinical Diagnostics divestiture net gain

(3)

-

(29)

-

Earnings before provision for taxes on income - as adjusted

$ 6,248

6,524

(4.2)

%

$ 11,878

12,452

(4.6)

%

Net Earnings - as reported

$ 4,516

4,326

4.4

%

$   8,836

9,053

(2.4)

%

Intangible asset amortization expense

230

358

456

625

Litigation expense/(gain), net

23

342

(1)

(230)

342

Synthes integration costs 

37

104

62

188

DePuy ASR™Hip program

8

-

130

-

In-process research and development

-

3

-

16

Tax benefit associated with Conor Medsystems

-

-

-

(398)

Ortho-Clinical Diagnostics divestiture net gain

(2)

-

(24)

-

Net Earnings - as adjusted 

$ 4,812

5,133

(6.3)

%

$   9,230

9,826

(6.1)

%

Diluted Net Earnings per share - as reported

$   1.61

1.51

6.6

%

$     3.13

3.15

(0.6)

%

Intangible asset amortization expense

0.08

0.12

0.16

0.21

Litigation expense/(gain), net

0.01

0.12

(0.08)

0.12

Synthes integration costs 

0.01

0.03

0.02

0.06

DePuy ASR™Hip program

-

-

0.05

-

In-process research and development

-

-

-

0.01

Tax benefit associated with Conor Medsystems

-

-

-

(0.14)

Ortho-Clinical Diagnostics divestiture net gain

-

-

(0.01)

-

Diluted Net Earnings per share - as adjusted 

$   1.71

1.78

(3.9)

%

$     3.27

3.41

(4.1)

%

Operational Diluted Net Earnings per share - as adjusted* 

$   1.90

1.78

6.7

%

$     3.59

3.41

5.3

%

*Excludes the effect of translational currency

(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, Divestitures and Hepatitis C (1)

 SECOND QUARTER 2015 ACTUAL vs. 2014 ACTUAL 

 Segments 

 Consumer 

 Pharmaceutical 

 Medical Devices 

 Total 

Operational % (2)

 WW As Reported: 

2.3%

1.0%

(4.7)%

(0.9)%

 U.S. 

2.7%

(1.5)%

(5.8)%

(2.4)%

 International 

2.1%

3.8%

(3.9)%

0.5%

Wound Care / Other

BENECOL ®

0.8

0.1

 U.S. 

0.0

0.0

 International 

1.1

0.2

Diagnostics

Ortho-Clinical Diagnostics

6.1

2.3

 U.S. 

7.4

2.5

 International 

5.3

2.0

Other Neuroscience

NUCYNTA ®

0.5

0.2

 U.S. 

0.9

0.5

 International 

0.1

0.0

All Other Acquisitions and Divestitures

0.0

0.0

 U.S. 

0.2

0.0

 International 

0.0

0.0

WW Ops excluding Acquisitions and Divestitures

3.1%

1.5%

1.4%

1.7%

 U.S. 

2.9%

(0.6)%

1.6%

0.6%

 International 

3.2%

3.9%

1.4%

2.7%

 Hepatitis C  

8.2

3.3

 U.S. 

17.1

7.8

 International 

(1.4)

(0.6)

WW Ops excluding Acquisitions, Divestitures and Hepatitis C

3.1%

9.7%

1.4%

5.0%

 U.S. 

2.9%

16.5%

1.6%

8.4%

 International 

3.2%

2.5%

1.4%

2.1%

(1)Hepatitis C includes OLYSIO ® /SOVRIAD ® and INCIVO ®

(2)Operational growth excludes the effect of translational currency

 

Johnson & Johnson and Subsidiaries

Reconciliation of Non-GAAP Financial Measure

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

 SIX MONTHS 2015 ACTUAL vs. 2014 ACTUAL 

 Segments 

 Consumer 

 Pharmaceutical 

 Medical Devices 

 Total 

Operational % (2)

 WW As Reported: 

2.8%

5.3%

(4.6)%

1.1%

 U.S. 

3.2%

6.7%

(6.0)%

1.5%

 International 

2.6%

3.8%

(3.5)%

0.6%

Women's Health

K-Y ®

0.5

0.1

 U.S. 

0.8

0.1

 International 

0.3

0.1

Wound Care / Other

BENECOL ®

0.7

0.1

 U.S. 

0.0

0.0

 International 

1.1

0.3

Diagnostics

Ortho-Clinical Diagnostics

6.0

2.3

 U.S. 

7.3

2.8

 International 

4.9

2.0

Other Neuroscience

NUCYNTA ®

0.3

0.1

 U.S. 

0.6

0.2

 International 

0.0

0.0

All Other Acquisitions and Divestitures

(0.1)

0.0

 U.S. 

0.0

0.0

 International 

(0.2)

(0.1)

WW Ops excluding Acquisitions and Divestitures

3.9%

5.6%

1.4%

3.7%

 U.S. 

4.0%

7.3%

1.3%

4.6%

 International 

3.8%

3.8%

1.4%

2.9%

 Hepatitis C  

5.7

2.2

 U.S. 

12.8

5.4

 International 

(1.2)

(0.5)

WW Ops excluding Acquisitions, Divestitures and Hepatitis C

3.9%

11.3%

1.4%

5.9%

 U.S. 

4.0%

20.1%

1.3%

10.0%

 International 

3.8%

2.6%

1.4%

2.4%

(1)Hepatitis C includes OLYSIO ® /SOVRIAD ® and INCIVO ®

(2)Operational growth excludes the effect of translational currency

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

SECOND QUARTER

SIX MONTHS

% Change

% Change

2015

2014

Reported

Operational (1)

Currency

2015

2014

Reported

Operational (1)

Currency

CONSUMER SEGMENT (2)

BABY CARE

US

$          104

107

-2.8%

-2.8%

-

$             215

209

2.9%

2.9%

-

Intl

439

500

-12.2%

-1.0%

-11.2%

839

943

-11.0%

-0.9%

-10.1%

WW

543

607

-10.5%

-1.2%

-9.3%

1,054

1,152

-8.5%

-0.2%

-8.3%

ORAL CARE

US

147

142

3.5%

3.5%

-

305

302

1.0%

1.0%

-

Intl

244

271

-10.0%

5.0%

-15.0%

489

522

-6.3%

6.9%

-13.2%

WW

391

413

-5.3%

4.5%

-9.8%

794

824

-3.6%

4.7%

-8.3%

OTC

US

366

316

15.8%

15.8%

-

771

682

13.0%

13.0%

-

Intl

608

687

-11.5%

4.7%

-16.2%

1,196

1,332

-10.2%

6.8%

-17.0%

WW

974

1,003

-2.9%

8.2%

-11.1%

1,967

2,014

-2.3%

9.0%

-11.3%

SKIN CARE

US

491

506

-3.0%

-3.0%

-

983

963

2.1%

2.1%

-

Intl

403

462

-12.8%

1.2%

-14.0%

814

919

-11.4%

1.4%

-12.8%

WW

894

968

-7.6%

-0.9%

-6.7%

1,797

1,882

-4.5%

1.8%

-6.3%

WOMEN'S HEALTH

US

7

11

-36.4%

-36.4%

-

13

35

-62.9%

-62.9%

-

Intl

313

331

-5.4%

11.4%

-16.8%

594

634

-6.3%

8.6%

-14.9%

WW

320

342

-6.4%

9.9%

-16.3%

607

669

-9.3%

4.8%

-14.1%

WOUND CARE / OTHER

US

240

238

0.8%

0.8%

-

427

438

-2.5%

-2.5%

-

Intl

121

173

-30.1%

-19.2%

-10.9%

227

322

-29.5%

-19.4%

-10.1%

WW

361

411

-12.2%

-7.6%

-4.6%

654

760

-13.9%

-9.6%

-4.3%

TOTAL CONSUMER

US

1,355

1,320

2.7%

2.7%

-

2,714

2,629

3.2%

3.2%

-

Intl

2,128

2,424

-12.2%

2.1%

-14.3%

4,159

4,672

-11.0%

2.6%

-13.6%

WW

$       3,483

3,744

-7.0%

2.3%

-9.3%

$          6,873

7,301

-5.9%

2.8%

-8.7%

See footnotes at end of schedule

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

SECOND QUARTER

SIX MONTHS

% Change

% Change

2015

2014

Reported

Operational (1)

Currency

2015

2014

Reported

Operational (1)

Currency

PHARMACEUTICAL SEGMENT (2) (3)

IMMUNOLOGY

US

$       1,876

1,853

1.2%

1.2%

-

$          3,631

3,400

6.8%

6.8%

-

Intl

678

778

-12.9%

3.4%

-16.3%

1,386

1,574

-11.9%

3.4%

-15.3%

WW

2,554

2,631

-2.9%

1.9%

-4.8%

5,017

4,974

0.9%

5.7%

-4.8%

    REMICADE

    US 

1,088

1,021

6.6%

6.6%

-

2,143

2,018

6.2%

6.2%

-

    US Exports (4)

241

357

-32.5%

-32.5%

-

422

524

-19.5%

-19.5%

-

    Intl

339

426

-20.4%

-6.6%

-13.8%

703

872

-19.4%

-6.4%

-13.0%

    WW

1,668

1,804

-7.5%

-4.2%

-3.3%

3,268

3,414

-4.3%

-1.0%

-3.3%

    SIMPONI / SIMPONI ARIA

    US

172

132

30.3%

30.3%

-

327

236

38.6%

38.6%

-

    Intl

136

150

-9.3%

9.2%

-18.5%

281

305

-7.9%

9.5%

-17.4%

    WW

308

282

9.2%

19.1%

-9.9%

608

541

12.4%

22.2%

-9.8%

    STELARA

    US

375

343

9.3%

9.3%

-

739

622

18.8%

18.8%

-

    Intl

195

185

5.4%

26.5%

-21.1%

380

362

5.0%

24.6%

-19.6%

    WW

570

528

8.0%

15.4%

-7.4%

1,119

984

13.7%

20.9%

-7.2%

    OTHER IMMUNOLOGY

    US

-

-

-

-

-

-

-

-

-

-

    Intl

8

17

-52.9%

-44.7%

-8.2%

22

35

-37.1%

-28.7%

-8.4%

    WW

8

17

-52.9%

-44.7%

-8.2%

22

35

-37.1%

-28.7%

-8.4%

INFECTIOUS DISEASES

US

381

1,020

-62.6%

-62.6%

-

793

1,581

-49.8%

-49.8%

-

Intl

651

742

-12.3%

7.2%

-19.5%

1,214

1,381

-12.1%

5.9%

-18.0%

WW

1,032

1,762

-41.4%

-33.2%

-8.2%

2,007

2,962

-32.2%

-23.8%

-8.4%

    EDURANT

    US

9

6

50.0%

50.0%

-

18

11

63.6%

63.6%

-

    Intl

92

86

7.0%

32.1%

-25.1%

174

162

7.4%

31.4%

-24.0%

    WW

101

92

9.8%

33.2%

-23.4%

192

173

11.0%

33.4%

-22.4%

    OLYSIO / SOVRIAD

    US

50

725

-93.1%

-93.1%

-

148

1,016

-85.4%

-85.4%

-

    Intl

214

106

*

*

**

350

169

*

*

**

    WW

264

831

-68.2%

-62.5%

-5.7%

498

1,185

-58.0%

-51.7%

-6.3%

    PREZISTA / PREZCOBIX

    US

258

239

7.9%

7.9%

-

492

453

8.6%

8.6%

-

    Intl

190

253

-24.9%

-7.7%

-17.2%

383

484

-20.9%

-4.8%

-16.1%

    WW

448

492

-8.9%

-0.1%

-8.8%

875

937

-6.6%

1.7%

-8.3%

    OTHER INFECTIOUS DISEASES

    US

64

50

28.0%

28.0%

-

135

101

33.7%

33.7%

-

    Intl

155

297

-47.8%

-36.9%

-10.9%

307

566

-45.8%

-35.8%

-10.0%

    WW

219

347

-36.9%

-27.5%

-9.4%

442

667

-33.7%

-25.2%

-8.5%

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

SECOND QUARTER

SIX MONTHS

% Change

% Change

2015

2014

Reported

Operational (1)

Currency

2015

2014

Reported

Operational (1)

Currency

NEUROSCIENCE

US

693

600

15.5%

15.5%

-

1,443

1,201

20.1%

20.1%

-

Intl

871

1,027

-15.2%

-0.2%

-15.0%

1,739

2,064

-15.7%

-1.7%

-14.0%

WW

1,564

1,627

-3.9%

5.6%

-9.5%

3,182

3,265

-2.5%

6.4%

-8.9%

    CONCERTA / METHYLPHENIDATE

    US

102

28

*

*

-

228

63

*

*

-

    Intl

104

117

-11.1%

2.7%

-13.8%

202

232

-12.9%

-0.3%

-12.6%

    WW

206

145

42.1%

53.3%

-11.2%

430

295

45.8%

55.7%

-9.9%

    INVEGA

    US

105

89

18.0%

18.0%

-

199

175

13.7%

13.7%

-

    Intl

61

69

-11.6%

3.7%

-15.3%

122

148

-17.6%

-2.9%

-14.7%

    WW

166

158

5.1%

11.8%

-6.7%

321

323

-0.6%

6.1%

-6.7%

    INVEGA SUSTENNA / XEPLION

    US

253

202

25.2%

25.2%

-

481

384

25.3%

25.3%

-

    Intl

183

192

-4.7%

14.6%

-19.3%

366

383

-4.4%

13.6%

-18.0%

    WW

436

394

10.7%

20.1%

-9.4%

847

767

10.4%

19.4%

-9.0%

    RISPERDAL CONSTA

    US

99

110

-10.0%

-10.0%

-

203

216

-6.0%

-6.0%

-

    Intl

148

192

-22.9%

-6.5%

-16.4%

298

396

-24.7%

-9.8%

-14.9%

    WW

247

302

-18.2%

-7.8%

-10.4%

501

612

-18.1%

-8.5%

-9.6%

    OTHER NEUROSCIENCE

    US

134

171

-21.6%

-21.6%

-

332

363

-8.5%

-8.5%

-

    Intl

375

457

-17.9%

-5.1%

-12.8%

751

905

-17.0%

-4.8%

-12.2%

   WW

509

628

-18.9%

-9.6%

-9.3%

1,083

1,268

-14.6%

-5.9%

-8.7%

ONCOLOGY

US

362

278

30.2%

30.2%

-

696

518

34.4%

34.4%

-

Intl

782

833

-6.1%

12.8%

-18.9%

1,556

1,615

-3.7%

14.1%

-17.8%

WW

1,144

1,111

3.0%

17.2%

-14.2%

2,252

2,133

5.6%

19.1%

-13.5%

    IMBRUVICA

    US

89

33

*

*

-

155

39

*

*

-

    Intl

65

9

*

*

**

115

13

*

*

**

    WW

154

42

*

*

**

270

52

*

*

**

    VELCADE

    US

-

-

-

-

-

-

-

-

-

-

    Intl

344

403

-14.6%

1.1%

-15.7%

683

811

-15.8%

-1.5%

-14.3%

    WW

344

403

-14.6%

1.1%

-15.7%

683

811

-15.8%

-1.5%

-14.3%

    ZYTIGA

    US

255

235

8.5%

8.5%

-

508

464

9.5%

9.5%

-

    Intl

291

327

-11.0%

8.6%

-19.6%

594

610

-2.6%

16.8%

-19.4%

    WW

546

562

-2.8%

8.6%

-11.4%

1,102

1,074

2.6%

13.6%

-11.0%

    OTHER ONCOLOGY

    US

18

10

80.0%

80.0%

-

33

15

*

*

-

    Intl

82

94

-12.8%

5.3%

-18.1%

164

181

-9.4%

7.6%

-17.0%

    WW

100

104

-3.8%

12.5%

-16.3%

197

196

0.5%

16.1%

-15.6%

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

SECOND QUARTER

SIX MONTHS

% Change

% Change

2015

2014

Reported

Operational (1)

Currency

2015

2014

Reported

Operational (1)

Currency

CARDIOVASCULAR / METABOLISM / OTHER (5)

US

1,231

862

42.8%

42.8%

-

2,351

1,653

42.2%

42.2%

-

Intl

421

516

-18.4%

-6.6%

-11.8%

863

1,020

-15.4%

-3.7%

-11.7%

WW

1,652

1,378

19.9%

24.3%

-4.4%

3,214

2,673

20.2%

24.6%

-4.4%

    XARELTO

    US

472

361

30.7%

30.7%

-

913

680

34.3%

34.3%

-

    Intl

-

-

-

-

-

-

-

-

-

-

    WW

472

361

30.7%

30.7%

-

913

680

34.3%

34.3%

-

    INVOKANA / INVOKAMET

    US

302

114

*

*

-

568

207

*

*

-

    Intl

16

3

*

*

**

28

4

*

*

**

    WW

318

117

*

*

**

596

211

*

*

**

    PROCRIT / EPREX

    US

179

178

0.6%

0.6%

-

342

354

-3.4%

-3.4%

-

    Intl

97

141

-31.2%

-18.7%

-12.5%

203

275

-26.2%

-13.3%

-12.9%

    WW

276

319

-13.5%

-8.0%

-5.5%

545

629

-13.4%

-7.7%

-5.7%

    OTHER

    US

278

209

33.0%

33.0%

-

528

412

28.2%

28.2%

-

    Intl

308

372

-17.2%

-6.3%

-10.9%

632

741

-14.7%

-4.0%

-10.7%

    WW

586

581

0.9%

7.9%

-7.0%

1,160

1,153

0.6%

7.5%

-6.9%

TOTAL PHARMACEUTICAL

US

4,543

4,613

-1.5%

-1.5%

-

8,914

8,353

6.7%

6.7%

-

Intl

3,403

3,896

-12.7%

3.8%

-16.5%

6,758

7,654

-11.7%

3.8%

-15.5%

WW

$       7,946

8,509

-6.6%

1.0%

-7.6%

$        15,672

16,007

-2.1%

5.3%

-7.4%

See footnotes at end of schedule

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

SECOND QUARTER

SIX MONTHS

% Change

% Change

2015

2014

Reported

Operational (1)

Currency

2015

2014

Reported

Operational (1)

Currency

MEDICAL DEVICES (2)

CARDIOVASCULAR CARE

US

$          235

214

9.8%

9.8%

-

$             463

419

10.5%

10.5%

-

Intl

309

353

-12.5%

1.7%

-14.2%

610

689

-11.5%

2.5%

-14.0%

WW

544

567

-4.1%

4.7%

-8.8%

1,073

1,108

-3.2%

5.5%

-8.7%

DIABETES CARE

US

214

222

-3.6%

-3.6%

-

426

414

2.9%

2.9%

-

Intl

280

336

-16.7%

-1.2%

-15.5%

552

656

-15.9%

-0.3%

-15.6%

WW

494

558

-11.5%

-2.1%

-9.4%

978

1,070

-8.6%

0.9%

-9.5%

DIAGNOSTICS (6)

US

-

232

**

**

-

-

456

**

**

-

Intl

16

229

-93.0%

-90.1%

-2.9%

46

448

-89.7%

-86.8%

-2.9%

WW

16

461

-96.5%

-95.0%

-1.5%

46

904

-94.9%

-93.5%

-1.4%

ORTHOPAEDICS

US 

1,321

1,294

2.1%

2.1%

-

2,630

2,586

1.7%

1.7%

-

Intl

1,009

1,175

-14.1%

-0.4%

-13.7%

2,028

2,304

-12.0%

1.2%

-13.2%

WW

2,330

2,469

-5.6%

0.9%

-6.5%

4,658

4,890

-4.7%

1.5%

-6.2%

SPECIALTY SURGERY / OTHER

US

438

424

3.3%

3.3%

-

855

841

1.7%

1.7%

-

Intl

441

481

-8.3%

5.6%

-13.9%

857

938

-8.6%

4.6%

-13.2%

WW

879

905

-2.9%

4.5%

-7.4%

1,712

1,779

-3.8%

3.2%

-7.0%

SURGICAL CARE 

US

562

551

2.0%

2.0%

-

1,105

1,090

1.4%

1.4%

-

Intl

887

1,024

-13.4%

0.0%

-13.4%

1,767

1,993

-11.3%

1.5%

-12.8%

WW

1,449

1,575

-8.0%

0.7%

-8.7%

2,872

3,083

-6.8%

1.5%

-8.3%

VISION CARE

US

243

262

-7.3%

-7.3%

-

496

548

-9.5%

-9.5%

-

Intl

403

445

-9.4%

6.0%

-15.4%

781

920

-15.1%

-1.0%

-14.1%

WW

646

707

-8.6%

1.1%

-9.7%

1,277

1,468

-13.0%

-4.1%

-8.9%

TOTAL MEDICAL DEVICES

US

3,013

3,199

-5.8%

-5.8%

-

5,975

6,354

-6.0%

-6.0%

-

Intl

3,345

4,043

-17.3%

-3.9%

-13.4%

6,641

7,948

-16.4%

-3.5%

-12.9%

WW

$       6,358

7,242

-12.2%

-4.7%

-7.5%

$        12,616

14,302

-11.8%

-4.6%

-7.2%

* 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) Previously referred to as Other

(6) Reflects Diagnostics divestiture June 30, 2014

 

SOURCE Johnson & Johnson



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