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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