Life Science News

  • Total sales growth of 3.0% to $24.0 Billion with operational growth of 8.0%* and adjusted operational growth of 8.1%*
  • Earnings per share of $1.80 decreasing 23.4% and adjusted earnings per share of $2.59 increasing 4.4%*
  • Company maintaining 2022 full-year guidance at midpoints for adjusted operational sales and adjusted operational earnings per share; strengthening U.S. dollar impacting estimate for reported results

Johnson & Johnson (NYSE: JNJ) today announced results for second-quarter 2022. "Our solid second quarter results across Johnson & Johnson reflect the strength and resilience of our Company's market leadership in the midst of macroeconomic challenges," said Joaquin Duato, Chief Executive Officer. "I am continually energized by the focus and passion of my Johnson & Johnson colleagues and their dedication toward delivering transformative healthcare solutions to patients and consumers around the world."

OVERALL FINANCIAL RESULTS

Q2
($ in Millions, except EPS)

2022

2021

% Change

Reported Sales

$24,020

$23,312

3.0%

Net Earnings

4,814

6,278

(23.3)%

EPS (diluted)

$1.80

$2.35

(23.4)%

Q2

Non-GAAP* ($ in Millions, except EPS)

2022

2021

% Change

Operational Sales 1,2

8.0%

Adjusted Operational Sales 1,3

8.1%

Adjusted Net Earnings 1,4

6,912

6,625

4.3%

Adjusted EPS (diluted) 1,4

$2.59

$2.48

4.4%

1 Non-GAAP financial measure ; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2 Excludes the impact of translational currency
3 Excludes the net impact of acquisitions and divestitures and translational currency
4 Excludes intangible amortization expense and special items
Note: values may have been rounded

REGIONAL SALES RESULTS

Q2 % Change

($ in Millions)

2022

2021

Reported

Operational 1,2

Currency

Adjusted
Operational 1,3

U.S.

$12,197

$11,919

2.3%

2.3

-

2.4

International

11,823

11,393

3.8

13.9

(10.1)

14.2

Worldwide

$24,020

$23,312

3.0%

8.0

(5.0)

8.1

1 Non-GAAP financial measure ; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2 Excludes the impact of translational currency
3 Excludes the net impact of acquisitions and divestitures and translational currency
Note: Values may have been rounded

SEGMENT SALES RESULTS

Q2 % Change
($ in Millions)

2022

2021

Reported

Operational 1,2

Currency

Adjusted
Operational 1,3

Consumer Health 4

$ 3,805

$ 3,854

(1.3)%

2.3

(3.6)

2.9

Pharmaceutical 4

13,317

12,480

6.7

12.3

(5.6)

12.4

MedTech

6,898

6,978

(1.1)

3.4

(4.5)

3.4

Worldwide

$ 24,020

$ 23,312

3.0%

8.0

(5.0)

8.1

1 Non-GAAP financial measure ; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2 Excludes the impact of translational currency
3 Excludes the net impact of acquisitions and divestitures and translational currency
4 Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes
Note: Values may have been rounded

SECOND QUARTER 2022 SEGMENT COMMENTARY:

Adjusted operational sales* reflected below excludes the net impact of acquisitions and divestitures and translational currency.

Consumer Health

Consumer Health worldwide adjusted operational sales increased 2.9%*. Major contributors to growth include upper respiratory and analgesic products in the international market of our over-the-counter franchise as well as IMODIUM in digestive health products and NEUTROGENA in international Skin Health/Beauty.

Pharmaceutical

Pharmaceutical worldwide adjusted operational sales grew 12.4%*, driven by DARZALEX (daratumumab), a biologic for the treatment of multiple myeloma, STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, and for adults with active psoriatic arthritis, and INVEGA SUSTENNA/XEPLION and INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults. Also contributing to growth were sales of the Janssen COVID-19 Vaccine (Ad26.COV2.S) for the prevention of the SARS-CoV-2 virus. This growth was partially offset by declines in sales of REMICADE (infliximab), a biologic approved for the treatment of several immune-mediated inflammatory diseases and IMBRUVICA (ibrutinib), an oral, once daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer.

MedTech

MedTech worldwide adjusted operational sales grew 3.4%*, driven primarily by contact lenses and surgical vision products in our Vision franchise, and electrophysiology products in our Interventional Solutions business. Growth was partially offset by COVID-19 related mobility restrictions in certain regions.

NOTABLE NEW ANNOUCEMENTS IN THE QUARTER:

The information contained in this section should be read in conjunction with Johnson & Johnson's other disclosures filed with the Securities and Exchange Commission, including its Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Copies of these filings are available online at www.sec.gov , www.jnj.com or on request from Johnson & Johnson. The reader is also encouraged to review all other news releases and information available in the Investors section of the company's website at news releases , as well as www.factsabouttalc.com , www.factsaboutourprescriptionopioids.com , and www.LTLManagementInformation.com .

Regulatory Decisions

European Commission Grants Conditional Approval of CARVYKTI (ciltacabtagene autoleucel), Janssen's First Cell Therapy, for the Treatment of Patients with Relapsed and Refractory Multiple Myeloma

(Press Release)

Janssen Announces U.S. FDA Breakthrough Therapy Designation Granted for Talquetamab for the Treatment of Relapsed or Refractory Multiple Myeloma

(Press Release)

Janssen Receives Positive CHMP Opinion for IMBRUVICA (ibrutinib) in a Fixed-Duration Combination Regimen for Adult Patients with Previously Untreated Chronic Lymphocytic Leukemia (CLL)

(Press Release)

Other

Johnson & Johnson Appoints Thibaut Mongon as CEO Designate of Planned New Consumer Health Company

(Press Release)

ETHICON Launches Next Generation ECHELON 3000 Stapler Designed for Exceptional Access and Control

(Press Release)

Johnson & Johnson Releases 2021 Health for Humanity Report Highlighting Performance on ESG Priorities and Progress Against Public Commitments

(Press Release)

New Data Show TREMFYA (guselkumab) Binds to Both Inflammatory Cells and Interleukin (IL)-23, Supporting a Hypothesis for a Differentiated Mechanism from Risankizumab

(Press Release)

Janssen to Highlight Science, Innovation and Advances in Robust Oncology Portfolio and Pipeline Through More Than 60 Data Presentations at ASCO and EHA

(Press Release)

FULL-YEAR 2022 GUIDANCE:

Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.

($ in Billions, except EPS)

July 2022

April 2022

Adjusted Operational Sales 1,2,5

Change vs. Prior Year

6.5% – 7.5%

6.5% – 7.5%

Operational Sales 2,5

Change vs. Prior Year

$97.3B – $98.3B

6.5% – 7.5%

$97.3B – $98.3B

6.5% – 7.5%

Estimated Reported Sales 3,5

Change vs. Prior Year

$93.3B – $94.3B

2.1% – 3.1%

$94.8B - $95.8B

3.8% – 4.8%

Adjusted Operational EPS (Diluted) 2,4

Change vs. Prior Year

$10.65 - $10.75

8.7% – 9.7%

$10.60 - $10.80

8.2% – 10.2%

Adjusted EPS (Diluted) 3,4

Change vs. Prior Year

$10.00 - $10.10

2.1% – 3.1%

$10.15 - $10.35

3.6% – 5.6%

1 Non-GAAP financial measure ; excludes the net impact of acquisitions and divestitures
2 Non-GAAP financial measure ; excludes the impact of translational currency
3 Calculated using Euro Average Rate: April 2022 = $1.09 and July 2022 = $1.05 (Illustrative purposes only)
4 Non-GAAP financial measure ; excludes intangible amortization expense and special items
5 Excludes COVID-19 Vaccine
Note: percentages may have been rounded

Other modeling considerations will be provided on the webcast .

WEBCAST INFORMATION:

Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website . A replay and podcast will be available approximately two hours after the live webcast in the Investors section of the company's website at events-and-presentations .

ABOUT JOHNSON & JOHNSON:

At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That's why for more than 130 years, we have aimed to keep people well at every age and every stage of life. Today, as the world's largest and most broadly-based health care company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.

NON-GAAP FINANCIAL MEASURES:

* "Operational sales growth" excluding the impact of translational currency, "adjusted operational sales growth" excluding the net impact of acquisitions and divestitures and translational currency, as well as "adjusted net earnings", "adjusted diluted earnings per share" and "adjusted operational diluted earnings per share" excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investors section of the company's website at quarterly results .

Copies of the financial schedules accompanying this earnings release are available on the company's website at quarterly results . These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including adjusted income before tax by segment, a pharmaceutical pipeline of selected compounds in late stage development and a copy of today's earnings call presentation can also be found in the Investors section of the company's website at quarterly results .

NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS:

This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, market position and business strategy, and the anticipated separation of the Company's Consumer Health business. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies; the Company's ability to satisfy the necessary conditions to consummate the separation of the Company's Consumer Health business on a timely basis or at all; the Company's ability to successfully separate the Company's Consumer Health business and realize the anticipated benefits from the separation; the New Consumer Health Company's ability to succeed as a standalone publicly traded company; and risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays and cancellations of medical procedures, supply chain disruptions and other impacts to the business, or on the company's ability to execute business continuity plans, as a result of the COVID-19 pandemic. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 2, 2022, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in Johnson & Johnson's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov , www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions) SECOND QUARTER SIX MONTHS
Percent Change Percent Change

2022

2021

Total

Operations

Currency

2022

2021

Total

Operations

Currency
Sales to customers by
segment of business
Consumer Health (1)
U.S.

$

1,687

1,751

(3.6

)

%

(3.6

)

-

$

3,244

3,362

(3.5

)

%

(3.5

)

-

International

2,118

2,103

0.6

7.3

(6.7

)

4,147

4,133

0.3

5.7

(5.4

)

3,805

3,854

(1.3

)

2.3

(3.6

)

7,391

7,495

(1.4

)

1.6

(3.0

)

Pharmaceutical (1)
U.S.

7,159

6,869

4.2

4.2

-

13,791

13,315

3.6

3.6

-

International

6,158

5,611

9.8

22.1

(12.3

)

12,395

11,266

10.0

19.4

(9.4

)

13,317

12,480

6.7

12.3

(5.6

)

26,186

24,581

6.5

10.8

(4.3

)

Pharmaceutical excluding COVID-19 Vaccine (1,3)
U.S.

7,114

6,818

4.3

4.3

-

13,671

13,164

3.9

3.9

-

International

5,659

5,498

2.9

13.9

(11.0

)

11,514

11,153

3.2

11.9

(8.7

)

12,773

12,316

3.7

8.6

(4.9

)

25,185

24,317

3.6

7.5

(3.9

)

MedTech (2)
U.S.

3,351

3,299

1.6

1.6

-

6,576

6,353

3.5

3.5

-

International

3,547

3,679

(3.6

)

5.1

(8.7

)

7,293

7,204

1.2

8.0

(6.8

)

6,898

6,978

(1.1

)

3.4

(4.5

)

13,869

13,557

2.3

5.9

(3.6

)

U.S.

12,197

11,919

2.3

2.3

-

23,611

23,030

2.5

2.5

-

International

11,823

11,393

3.8

13.9

(10.1

)

23,835

22,603

5.5

13.3

(7.8

)

Worldwide

24,020

23,312

3.0

8.0

(5.0

)

47,446

45,633

4.0

7.8

(3.8

)

U.S.

12,152

11,868

2.4

2.4

-

23,491

22,879

2.7

2.7

-

International

11,324

11,280

0.4

9.8

(9.4

)

22,954

22,490

2.1

9.5

(7.4

)

Worldwide excluding COVID-19 Vaccine (3)

$

23,476

23,148

1.4

%

6.0

(4.6

)

$

46,445

45,369

2.4

%

6.1

(3.7

)

Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1) Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes
(2) Previously referred to as Medical Devices
(3) Refer to supplemental sales reconciliation schedule
Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions) SECOND QUARTER SIX MONTHS
Percent Change Percent Change

2022

2021

Total

Operations

Currency

2022

2021

Total

Operations

Currency

Sales to customers by
geographic area
U.S.

$

12,197

11,919

2.3

%

2.3

-

$

23,611

23,030

2.5

%

2.5

-

Europe

6,085

5,668

7.3

20.7

(13.4

)

12,109

11,082

9.3

20.1

(10.8

)

Western Hemisphere excluding U.S.

1,536

1,367

12.4

14.9

(2.5

)

3,018

2,791

8.1

9.9

(1.8

)

Asia-Pacific, Africa

4,202

4,358

(3.6

)

4.7

(8.3

)

8,708

8,730

(0.2

)

5.6

(5.8

)

International

11,823

11,393

3.8

13.9

(10.1

)

23,835

22,603

5.5

13.3

(7.8

)

Worldwide

$

24,020

23,312

3.0

%

8.0

(5.0

)

$

47,446

45,633

4.0

%

7.8

(3.8

)

Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures) SECOND QUARTER

2022

2021

Percent
Percent Percent Increase
Amount to Sales Amount to Sales (Decrease)
Sales to customers

$

24,020

100.0

$

23,312

100.0

3.0

Cost of products sold

7,919

33.0

7,587

32.5

4.4

Gross Profit

16,101

67.0

15,725

67.5

2.4

Selling, marketing and administrative expenses

6,226

25.9

6,073

26.1

2.5

Research and development expense

3,703

15.4

3,394

14.6

9.1

Interest (income) expense, net

(26

)

(0.1

)

28

0.1

Other (income) expense, net

273

1.1

(488

)

(2.1

)

Restructuring

85

0.4

56

0.2

Earnings before provision for taxes on income

5,840

24.3

6,662

28.6

(12.3

)

Provision for taxes on income

1,026

4.3

384

1.7

167.2

Net earnings

$

4,814

20.0

$

6,278

26.9

(23.3

)

Net earnings per share (Diluted)

$

1.80

$

2.35

(23.4

)

Average shares outstanding (Diluted)

2,667.9

2,671.6

Effective tax rate

17.6

%

5.8

%

Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income

$

8,171

34.0

$

7,776

33.4

5.1

Net earnings

$

6,912

28.8

$

6,625

28.4

4.3

Net earnings per share (Diluted)

$

2.59

$

2.48

4.4

Effective tax rate

15.4

%

14.8

%

(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

2022

2021

Percent
Percent Percent Increase
Amount to Sales Amount to Sales (Decrease)
Sales to customers

$

47,446

100.0

$

45,633

100.0

4.0

Cost of products sold

15,517

32.7

14,650

32.1

5.9

Gross Profit

31,929

67.3

30,983

67.9

3.1

Selling, marketing and administrative expenses

12,164

25.6

11,505

25.2

5.7

Research and development expense

7,165

15.1

6,572

14.4

9.0

In-process research and development

610

1.3

-

-

Interest (income) expense, net

(38

)

(0.1

)

76

0.2

Other (income) expense, net

171

0.4

(1,370

)

(3.0

)

Restructuring

155

0.3

109

0.2

Earnings before provision for taxes on income

11,702

24.7

14,091

30.9

(17.0

)

Provision for taxes on income

1,739

3.7

1,616

3.6

7.6

Net earnings

$

9,963

21.0

$

12,475

27.3

(20.1

)

Net earnings per share (Diluted)

$

3.73

$

4.67

(20.1

)

Average shares outstanding (Diluted)

2,669.2

2,674.0

Effective tax rate

14.9

%

11.5

%

Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income

$

16,389

34.5

$

16,067

35.2

2.0

Net earnings

$

14,041

29.6

$

13,549

29.7

3.6

Net earnings per share (Diluted)

$

5.26

$

5.07

3.7

Effective tax rate

14.3

%

15.7

%

(1) See Reconciliation of Non-GAAP Financial Measures.
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Second Quarter Six Months Ended
(Dollars in Millions Except Per Share Data)

2022

2021

2022

2021

Net Earnings, after tax- as reported

$4,814

$6,278

$9,963

$12,475

Pre-tax Adjustments
Intangible Asset Amortization expense

1,095

1,202

2,203

2,417

Litigation related

385

(23)

385

(23)

IPR&D

-

-

610

-

Restructuring related

128

108

200

212

Acquisition, integration and divestiture related ¹

-

14

-

(524)

(Gains)/losses on securities

109

(243)

520

(208)

Medical Device Regulation 2

70

56

130

102

COVID-19 Vaccine related costs 3

276

-

276

-

Consumer Health separation costs

268

-

370

-

Other

-

-

(7)

-

Tax Adjustments
Tax impact on special item adjustments 4

(313)

(135)

(706)

(248)

Consumer Health separation tax related costs

2

-

98

-

Tax legislation and other tax related

78

(632)

(1)

(654)

Adjusted Net Earnings, after tax

$6,912

$6,625

$14,041

$13,549

Average shares outstanding (Diluted)

2,667.9

2,671.6

2,669.2

2,674.0

Adjusted net earnings per share (Diluted)

$2.59

$2.48

$5.26

$5.07

Operational adjusted net earnings per share (Diluted)

$2.75

$5.50

Notes:

1

Acquisition, integration and divestiture related for the six months of 2021 primarily includes the gain on the divestiture of two Pharmaceutical brands outside of the U.S.

2

European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company's previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices were required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations. The Company has excluded only external third-party regulatory and consulting costs from its MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance which is expected to be completed by the end of 2023.

3

COVID-19 Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's modification of its COVID-19 vaccine research program and manufacturing capacity to levels that meet all customer contractual requirements.

4

The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings.
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure
Adjusted Operational Sales Growth
SECOND QUARTER 2022 ACTUAL vs. 2021 ACTUAL
Segments
Consumer Health Pharmaceutical MedTech Total
WW As Reported

(1.3)%

6.7%

(1.1)%

3.0%

U.S.

(3.6)%

4.2%

1.6%

2.3%

International

0.6%

9.8%

(3.6)%

3.8%

WW Currency

(3.6)

(5.6)

(4.5)

(5.0)

U.S.

-

-

-

-

International

(6.7)

(12.3)

(8.7)

(10.1)

WW Operational

2.3%

12.3%

3.4%

8.0%

U.S.

(3.6)%

4.2%

1.6%

2.3%

International

7.3%

22.1%

5.1%

13.9%

All Other Acquisitions and Divestitures

0.6

0.1

0.0

0.1

U.S.

0.2

0.2

(0.2)

0.1

International

0.8

0.1

0.2

0.3

WW Adjusted Operational

2.9%

12.4%

3.4%

8.1%

U.S.

(3.4)%

4.4%

1.4%

2.4%

International

8.1%

22.2%

5.3%

14.2%

Note: Percentages are based on actual, non-rounded figures and may not sum
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure
Adjusted Operational Sales Growth
SIX MONTHS 2022 ACTUAL vs. 2021 ACTUAL
Segments
Consumer Health Pharmaceutical MedTech Total
WW As Reported

(1.4)%

6.5%

2.3%

4.0%

U.S.

(3.5)%

3.6%

3.5%

2.5%

International

0.3%

10.0%

1.2%

5.5%

WW Currency

(3.0)

(4.3)

(3.6)

(3.8)

U.S.

-

-

-

-

International

(5.4)

(9.4)

(6.8)

(7.8)

WW Operational

1.6%

10.8%

5.9%

7.8%

U.S.

(3.5)%

3.6%

3.5%

2.5%

International

5.7%

19.4%

8.0%

13.3%

Skin Health / Beauty

Dr. Ci Labo - Sedona

0.5

0.1

U.S.

0.0

0.0

International

0.9

0.2

All Other Acquisitions and Divestitures

0.1

0.1

0.1

0.1

U.S.

0.2

0.1

(0.1)

0.1

International

0.1

0.0

0.2

0.1

WW Adjusted Operational

2.2%

10.9%

6.0%

8.0%

U.S.

(3.3)%

3.7%

3.4%

2.6%

International

6.7%

19.4%

8.2%

13.6%

Note: Percentages are based on actual, non-rounded figures and may not sum

REPORTED SALES vs. PRIOR PERIOD ($MM)

REPORTED SALES vs. PRIOR PERIOD ($MM)

SECOND QUARTER

SIX MONTHS

% Change % Change

2022

2021

Reported

Operational (1)

Currency

2022

2021

Reported

Operational (1)

Currency

CONSUMER HEALTH SEGMENT (2,3)
OTC
US

$

663

675

-1.8

%

-1.8

%

-

$

1,333

1,274

4.6

%

4.6

%

-

Intl

818

752

8.8

%

15.9

%

-7.1

%

1,609

1,425

12.9

%

18.6

%

-5.7

%

WW

1,482

1,426

3.8

%

7.5

%

-3.7

%

2,943

2,699

9.0

%

12.0

%

-3.0

%

SKIN HEALTH / BEAUTY
US

629

659

-4.5

%

-4.5

%

-

1,173

1,293

-9.2

%

-9.2

%

-

Intl

497

511

-2.8

%

5.1

%

-7.9

%

965

1,040

-7.2

%

-1.1

%

-6.1

%

WW

1,126

1,170

-3.7

%

-0.3

%

-3.4

%

2,138

2,333

-8.3

%

-5.6

%

-2.7

%

ORAL CARE
US

170

165

3.4

%

3.4

%

-

313

328

-4.6

%

-4.6

%

-

Intl

224

260

-14.1

%

-8.7

%

-5.4

%

447

514

-13.0

%

-8.6

%

-4.4

%

WW

394

426

-7.3

%

-4.0

%

-3.3

%

760

843

-9.7

%

-7.1

%

-2.6

%

BABY CARE
US

88

97

-9.1

%

-9.1

%

-

173

193

-10.3

%

-10.3

%

-

Intl

287

290

-1.0

%

3.7

%

-4.7

%

557

583

-4.4

%

-0.6

%

-3.8

%

WW

375

387

-3.1

%

0.5

%

-3.6

%

730

776

-5.9

%

-3.0

%

-2.9

%

WOMEN'S HEALTH
US

3

3

8.9

%

8.9

%

-

7

6

8.1

%

8.1

%

-

Intl

228

227

0.1

%

7.2

%

-7.1

%

452

446

1.3

%

7.7

%

-6.4

%

WW

230

230

0.2

%

7.2

%

-7.0

%

458

452

1.4

%

7.7

%

-6.3

%

WOUND CARE / OTHER
US

133

153

-12.7

%

-12.7

%

-

245

268

-8.6

%

-8.6

%

-

Intl

65

64

1.7

%

5.2

%

-3.5

%

117

125

-6.6

%

-4.5

%

-2.1

%

WW

197

216

-8.4

%

-7.4

%

-1.0

%

361

393

-8.0

%

-7.3

%

-0.7

%

TOTAL CONSUMER HEALTH
US

1,687

1,751

-3.6

%

-3.6

%

-

3,244

3,362

-3.5

%

-3.5

%

-

Intl

2,118

2,103

0.6

%

7.3

%

-6.7

%

4,147

4,133

0.3

%

5.7

%

-5.4

%

WW

$

3,805

3,854

-1.3

%

2.3

%

-3.6

%

$

7,391

7,495

-1.4

%

1.6

%

-3.0

%

See footnotes at end of schedule

REPORTED SALES vs. PRIOR PERIOD ($MM)

REPORTED SALES vs. PRIOR PERIOD ($MM)

SECOND QUARTER

SIX MONTHS

% Change % Change
PHARMACEUTICAL SEGMENT (2,3)

2022

2021

Reported

Operational (1)

Currency

2022

2021

Reported

Operational (1)

Currency

IMMUNOLOGY
US

$

2,853

2,748

3.8

%

3.8

%

-

$

5,354

5,161

3.7

%

3.7

%

-

Intl

1,559

1,483

5.1

%

16.2

%

-11.1

%

3,176

2,984

6.4

%

14.9

%

-8.5

%

WW

4,411

4,231

4.3

%

8.1

%

-3.8

%

8,530

8,145

4.7

%

7.8

%

-3.1

%

REMICADE
US

391

540

-27.4

%

-27.4

%

-

749

1,029

-27.1

%

-27.1

%

-

US Exports (4)

44

93

-53.0

%

-53.0

%

-

124

150

-17.5

%

-17.5

%

-

Intl

212

255

-17.2

%

-12.0

%

-5.2

%

437

487

-10.3

%

-6.7

%

-3.6

%

WW

647

888

-27.2

%

-25.6

%

-1.6

%

1,310

1,665

-21.4

%

-20.3

%

-1.1

%

SIMPONI / SIMPONI ARIA
US

301

290

3.8

%

3.8

%

-

588

545

7.9

%

7.9

%

-

Intl

266

294

-9.7

%

0.3

%

-10.0

%

549

601

-8.6

%

-0.8

%

-7.8

%

WW

566

584

-3.0

%

2.0

%

-5.0

%

1,137

1,146

-0.8

%

3.3

%

-4.1

%

STELARA
US

1,731

1,496

15.7

%

15.7

%

-

3,110

2,827

10.0

%

10.0

%

-

Intl

868

778

11.6

%

24.0

%

-12.4

%

1,777

1,595

11.4

%

20.8

%

-9.4

%

WW

2,599

2,274

14.3

%

18.6

%

-4.3

%

4,887

4,422

10.5

%

13.9

%

-3.4

%

TREMFYA
US

382

325

17.7

%

17.7

%

-

773

599

29.1

%

29.1

%

-

Intl

214

155

38.3

%

54.6

%

-16.3

%

413

298

38.6

%

51.4

%

-12.8

%

WW

597

479

24.4

%

29.7

%

-5.3

%

1,187

897

32.3

%

36.6

%

-4.3

%

OTHER IMMUNOLOGY
US

3

5

-50.1

%

-50.1

%

-

9

12

-24.8

%

-24.8

%

-

Intl

0

1

*

*

*

0

3

*

*

*

WW

3

7

-59.2

%

-59.2

%

0.0

%

9

15

-39.0

%

-39.0

%

0.0

%

INFECTIOUS DISEASES
US

415

444

-6.4

%

-6.4

%

-

876

956

-8.3

%

-8.3

%

-

Intl

901

575

56.8

%

79.3

%

-22.5

%

1,737

1,060

63.9

%

79.0

%

-15.1

%

WW

1,316

1,018

29.3

%

42.0

%

-12.7

%

2,613

2,016

29.6

%

37.6

%

-8.0

%

COVID-19 VACCINE
US

45

51

-11.5

%

-11.5

%

-

120

151

-20.4

%

-20.4

%

-

Intl

499

113

*

*

*

881

113

*

*

*

WW

544

164

*

*

*

1,001

264

*

*

*

EDURANT / rilpivirine
US

9

9

-1.7

%

-1.7

%

-

18

19

-7.4

%

-7.4

%

-

Intl

215

253

-14.7

%

-5.4

%

-9.3

%

454

486

-6.5

%

2.2

%

-8.7

%

WW

225

262

-14.3

%

-5.3

%

-9.0

%

473

505

-6.5

%

1.9

%

-8.4

%

PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US

355

368

-3.4

%

-3.4

%

-

724

748

-3.2

%

-3.2

%

-

Intl

110

137

-20.2

%

-10.4

%

-9.8

%

242

303

-20.3

%

-13.4

%

-6.9

%

WW

464

505

-7.9

%

-5.3

%

-2.6

%

965

1,051

-8.1

%

-6.1

%

-2.0

%

OTHER INFECTIOUS DISEASES
US

6

16

-62.5

%

-62.5

%

-

14

37

-62.5

%

-62.5

%

-

Intl

77

71

7.4

%

10.9

%

-3.5

%

160

158

1.3

%

5.8

%

-4.5

%

WW

83

88

-5.4

%

-2.6

%

-2.8

%

174

196

-10.9

%

-7.2

%

-3.7

%

REPORTED SALES vs. PRIOR PERIOD ($MM)

REPORTED SALES vs. PRIOR PERIOD ($MM)

SECOND QUARTER

SIX MONTHS

% Change % Change

2022

2021

Reported

Operational (1)

Currency

2022

2021

Reported

Operational (1)

Currency

NEUROSCIENCE
US

896

842

6.5%

6.5%

-

1,739

1,613

7.9%

7.9%

-

Intl

837

963

-13.0%

-4.8%

-8.2%

1,735

1,906

-8.9%

-1.7%

-7.2%

WW

1,734

1,804

-3.9%

0.5%

-4.4%

3,475

3,519

-1.2%

2.7%

-3.9%

CONCERTA / Methylphenidate
US

38

35

9.4%

9.4%

-

73

82

-11.3%

-11.3%

-

Intl

123

127

-2.2%

8.0%

-10.2%

245

250

-1.7%

5.8%

-7.5%

WW

161

161

0.3%

8.3%

-8.0%

318

332

-4.1%

1.5%

-5.6%

INVEGA SUSTENNA / XEPLION /
INVEGA TRINZA / TREVICTA
US

691

645

7.3%

7.3%

-

1,352

1,234

9.6%

9.6%

-

Intl

362

380

-4.6%

6.3%

-10.9%

749

756

-0.8%

8.1%

-8.9%

WW

1,054

1,024

2.9%

6.9%

-4.0%

2,102

1,989

5.7%

9.0%

-3.3%

RISPERDAL CONSTA
US

65

72

-8.9%

-8.9%

-

128

139

-7.7%

-7.7%

-

Intl

60

84

-28.0%

-19.0%

-9.0%

126

173

-27.1%

-19.3%

-7.8%

WW

125

155

-19.3%

-14.4%

-4.9%

254

312

-18.4%

-14.1%

-4.3%

OTHER NEUROSCIENCE
US

102

91

11.8%

11.8%

-

186

158

17.6%

17.6%

-

Intl

292

373

-21.8%

-17.2%

-4.6%

615

728

-15.5%

-10.2%

-5.3%

WW

393

464

-15.2%

-11.6%

-3.6%

800

886

-9.6%

-5.2%

-4.4%

ONCOLOGY
US

1,679

1,462

14.9%

14.9%

-

3,261

2,839

14.9%

14.9%

-

Intl

2,362

2,073

14.0%

26.9%

-12.9%

4,731

4,266

10.9%

20.8%

-9.9%

WW

4,042

3,535

14.3%

21.9%

-7.6%

7,992

7,105

12.5%

18.4%

-5.9%

DARZALEX
US

1,021

770

32.6%

32.6%

-

1,974

1,461

35.1%

35.1%

-

Intl

965

663

45.5%

61.9%

-16.4%

1,868

1,337

39.7%

52.2%

-12.5%

WW

1,986

1,433

38.6%

46.1%

-7.5%

3,842

2,798

37.3%

43.3%

-6.0%

ERLEADA
US

233

193

20.6%

20.6%

-

439

364

20.4%

20.4%

-

Intl

218

109

*

*

*

412

199

*

*

*

WW

450

302

49.5%

56.9%

-7.4%

850

563

51.1%

57.2%

-6.1%

IMBRUVICA
US

349

454

-23.1%

-23.1%

-

719

898

-19.9%

-19.9%

-

Intl

620

662

-6.3%

3.6%

-9.9%

1,288

1,342

-4.0%

4.1%

-8.1%

WW

970

1,116

-13.1%

-7.2%

-5.9%

2,008

2,241

-10.4%

-5.6%

-4.8%

ZYTIGA / abiraterone acetate
US

19

21

-12.2%

-12.2%

-

38

71

-47.0%

-47.0%

-

Intl

486

542

-10.2%

1.5%

-11.7%

1,006

1,130

-11.0%

-2.3%

-8.7%

WW

505

563

-10.3%

0.9%

-11.2%

1,044

1,201

-13.1%

-4.9%

-8.2%

OTHER ONCOLOGY

US

57

23

*

*

-

91

44

*

*

-

Intl

72

97

-25.7%

-17.3%

-8.4%

156

258

-39.4%

-34.3%

-5.1%

WW

130

120

7.5%

14.4%

-6.9%

248

302

-18.0%

-13.7%

-4.3%

REPORTED SALES vs. PRIOR PERIOD ($MM)

REPORTED SALES vs. PRIOR PERIOD ($MM)

SECOND QUARTER

SIX MONTHS

% Change

% Change

2022

2021

Reported

Operational (1)

Currency

2022

2021

Reported

Operational (1)

Currency
PULMONARY HYPERTENSION
US

560

595

-5.8

%

-5.8

%

-

1,132

1,168

-3.1

%

-3.1

%

-

Intl

284

275

2.8

%

15.3

%

-12.5

%

563

563

-0.1

%

9.6

%

-9.7

%

WW

843

870

-3.1

%

0.9

%

-4.0

%

1,695

1,731

-2.1

%

1.1

%

-3.2

%

OPSUMIT
US

265

290

-8.7

%

-8.7

%

-

538

562

-4.3

%

-4.3

%

-

Intl

173

172

0.5

%

13.1

%

-12.6

%

343

351

-2.2

%

7.4

%

-9.6

%

WW

438

463

-5.3

%

-0.6

%

-4.7

%

881

913

-3.5

%

0.2

%

-3.7

%

UPTRAVI
US

272

268

1.4

%

1.4

%

-

541

527

2.6

%

2.6

%

-

Intl

56

45

26.2

%

38.3

%

-12.1

%

112

91

23.5

%

33.4

%

-9.9

%

WW

328

313

4.9

%

6.6

%

-1.7

%

653

618

5.7

%

7.1

%

-1.4

%

OTHER PULMONARY HYPERTENSION
US

23

36

-36.2

%

-36.2

%

-

53

78

-32.3

%

-32.3

%

-

Intl

55

59

-8.1

%

4.8

%

-12.9

%

108

122

-11.7

%

-2.0

%

-9.7

%

WW

78

95

-18.7

%

-10.7

%

-8.0

%

161

200

-19.8

%

-13.9

%

-5.9

%

CARDIOVASCULAR / METABOLISM / OTHER
US

757

780

-3.0

%

-3.0

%

-

1,429

1,579

-9.5

%

-9.5

%

-

Intl

215

241

-10.9

%

-3.4

%

-7.5

%

453

486

-6.9

%

-1.2

%

-5.7

%

WW

972

1,021

-4.8

%

-3.1

%

-1.7

%

1,882

2,065

-8.9

%

-7.5

%

-1.4

%

XARELTO
US

609

569

7.1

%

7.1

%

-

1,117

1,158

-3.5

%

-3.5

%

-

Intl

-

-

-

-

-

-

-

-

-

-

WW

609

569

7.1

%

7.1

%

-

1,117

1,158

-3.5

%

-3.5

%

-

INVOKANA / INVOKAMET
US

55

96

-42.9

%

-42.9

%

-

115

183

-37.1

%

-37.1

%

-

Intl

65

64

2.4

%

10.2

%

-7.8

%

133

127

4.9

%

10.6

%

-5.7

%

WW

120

160

-24.9

%

-21.8

%

-3.1

%

248

310

-19.9

%

-17.6

%

-2.3

%

OTHER
US

93

116

-19.5

%

-19.5

%

-

197

238

-17.2

%

-17.2

%

-

Intl

150

178

-15.6

%

-8.3

%

-7.3

%

320

360

-11.1

%

-5.4

%

-5.7

%

WW

243

293

-17.2

%

-12.7

%

-4.5

%

517

598

-13.5

%

-10.1

%

-3.4

%

TOTAL PHARMACEUTICAL
US

7,159

6,869

4.2

%

4.2

%

-

13,791

13,315

3.6

%

3.6

%

-

Intl

6,158

5,611

9.8

%

22.1

%

-12.3

%

12,395

11,266

10.0

%

19.4

%

-9.4

%

WW

$

13,317

12,480

6.7

%

12.3

%

-5.6

%

$

26,186

24,581

6.5

%

10.8

%

-4.3

%

See footnotes at end of schedule

REPORTED SALES vs. PRIOR PERIOD ($MM)

REPORTED SALES vs. PRIOR PERIOD ($MM)

SECOND QUARTER

SIX MONTHS

% Change % Change
MEDTECH SEGMENT (2,3,5)

2022

2021

Reported

Operational (1)

Currency

2022

2021

Reported

Operational (1)

Currency

INTERVENTIONAL SOLUTIONS
US

$

525

475

10.5

%

10.5

%

-

1,019

909

12.1

%

12.1

%

-

Intl

525

572

-8.1

%

1.0

%

-9.1

%

1,123

1,086

3.4

%

10.2

%

-6.8

%

WW

1,049

1,046

0.3

%

5.3

%

-5.0

%

2,141

1,995

7.4

%

11.1

%

-3.7

%

ORTHOPAEDICS
US

1,338

1,323

1.1

%

1.1

%

-

2,627

2,572

2.1

%

2.1

%

-

Intl

820

904

-9.3

%

-0.6

%

-8.7

%

1,719

1,768

-2.8

%

4.2

%

-7.0

%

WW

2,157

2,227

-3.1

%

0.5

%

-3.6

%

4,345

4,340

0.1

%

3.0

%

-2.9

%

HIPS
US

240

233

3.4

%

3.4

%

-

465

442

5.2

%

5.2

%

-

Intl

148

159

-6.6

%

1.7

%

-8.3

%

312

305

2.4

%

9.0

%

-6.6

%

WW

388

391

-0.7

%

2.7

%

-3.4

%

777

747

4.1

%

6.8

%

-2.7

%

KNEES
US

216

210

2.9

%

2.9

%

-

417

395

5.6

%

5.6

%

-

Intl

133

140

-4.6

%

3.9

%

-8.5

%

271

272

-0.4

%

6.4

%

-6.8

%

WW

349

350

-0.1

%

3.3

%

-3.4

%

688

667

3.1

%

5.9

%

-2.8

%

TRAUMA
US

464

447

3.9

%

3.9

%

-

939

897

4.7

%

4.7

%

-

Intl

232

263

-11.8

%

-1.7

%

-10.1

%

505

545

-7.4

%

0.3

%

-7.7

%

WW

696

710

-1.9

%

1.8

%

-3.7

%

1,444

1,443

0.1

%

3.0

%

-2.9

%

SPINE, SPORTS & OTHER
US

418

434

-3.7

%

-3.7

%

-

805

838

-3.9

%

-3.9

%

-

Intl

306

343

-10.6

%

-2.5

%

-8.1

%

630

646

-2.4

%

4.2

%

-6.6

%

WW

724

777

-6.8

%

-3.2

%

-3.6

%

1,436

1,484

-3.2

%

-0.4

%

-2.8

%

REPORTED SALES vs. PRIOR PERIOD ($MM)

REPORTED SALES vs. PRIOR PERIOD ($MM)

SECOND QUARTER

SIX MONTHS

% Change % Change

2022

2021

Reported

Operational (1)

Currency

2022

2021

Reported

Operational (1)

Currency

SURGERY
US

992

1,035

-4.1

%

-4.1

%

-

1,913

1,933

-1.0

%

-1.0

%

-

Intl

1,458

1,487

-2.0

%

5.9

%

-7.9

%

2,971

2,961

0.3

%

6.2

%

-5.9

%

WW

2,450

2,522

-2.8

%

1.8

%

-4.6

%

4,884

4,894

-0.2

%

3.4

%

-3.6

%

ADVANCED
US

454

459

-1.1

%

-1.1

%

-

871

864

0.8

%

0.8

%

-

Intl

702

708

-0.9

%

6.6

%

-7.5

%

1,431

1,421

0.7

%

6.0

%

-5.3

%

WW

1,156

1,168

-1.0

%

3.6

%

-4.6

%

2,302

2,286

0.7

%

4.0

%

-3.3

%

GENERAL
US

538

576

-6.4

%

-6.4

%

-

1,042

1,069

-2.5

%

-2.5

%

-

Intl

756

779

-3.0

%

5.3

%

-8.3

%

1,540

1,540

0.0

%

6.5

%

-6.5

%

WW

1,294

1,354

-4.5

%

0.3

%

-4.8

%

2,582

2,608

-1.0

%

2.8

%

-3.8

%

VISION
US

496

467

6.2

%

6.2

%

-

1,017

939

8.3

%

8.3

%

-

Intl

745

716

4.0

%

13.9

%

-9.9

%

1,481

1,389

6.6

%

15.1

%

-8.5

%

WW

1,241

1,183

4.9

%

10.9

%

-6.0

%

2,498

2,328

7.3

%

12.4

%

-5.1

%

CONTACT LENSES / OTHER
US

374

352

6.6

%

6.6

%

-

774

723

7.2

%

7.2

%

-

Intl

519

517

0.4

%

11.0

%

-10.6

%

1,030

1,003

2.7

%

11.9

%

-9.2

%

WW

894

868

2.9

%

9.2

%

-6.3

%

1,804

1,725

4.5

%

9.9

%

-5.4

%

SURGICAL
US

122

115

5.1

%

5.1

%

-

243

216

12.1

%

12.1

%

-

Intl

225

199

13.6

%

21.5

%

-7.9

%

451

386

17.0

%

23.5

%

-6.5

%

WW

347

314

10.5

%

15.5

%

-5.0

%

694

602

15.2

%

19.4

%

-4.2

%

TOTAL MEDTECH
US

3,351

3,299

1.6

%

1.6

%

-

6,576

6,353

3.5

%

3.5

%

-

Intl

3,547

3,679

-3.6

%

5.1

%

-8.7

%

7,293

7,204

1.2

%

8.0

%

-6.8

%

WW

$

6,898

6,978

-1.1

%

3.4

%

-4.5

%

$

13,869

13,557

2.3

%

5.9

%

-3.6

%

Note: Columns and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures and,
therefore, may not recalculate precisely
* Percentage greater than 100% or not meaningful
(1) Operational growth excludes the effect of translational currency
(2) Unaudited
(3) Certain prior year amounts have been reclassified to conform to current year product disclosures
(4) Reported as U.S. sales
(5) Previously referred to as Medical Devices
Supplemental Sales Reconciliation (Unaudited)

(Dollars in Millions)
SECOND QUARTER SIX MONTHS
Percent Change Percent Change

2022

2021

Total

Operations

Currency

2022

2021

Total

Operations

Currency
Pharmaceutical
U.S.

$

7,159

6,869

4.2

%

4.2

-

$

13,791

13,315

3.6

%

3.6

-

International

6,158

5,611

9.8

22.1

(12.3

)

12,395

11,266

10.0

19.4

(9.4

)

Worldwide

13,317

12,480

6.7

12.3

(5.6

)

26,186

24,581

6.5

10.8

(4.3

)

COVID-19 Vaccine
U.S.

45

51

(11.5

)

(11.5

)

-

120

151

(20.4

)

(20.4

)

-

International

499

113

* * *

881

113

*

-

* *
Worldwide

544

164

* * *

1,001

264

*

-

* *
Pharmaceutical excluding COVID-19 Vaccine
U.S.

7,114

6,818

4.3

4.3

-

13,671

13,164

3.9

3.9

-

International

5,659

5,498

2.9

13.9

(11.0

)

11,514

11,153

3.2

11.9

(8.7

)

Worldwide

12,773

12,316

3.7

8.6

(4.9

)

25,185

24,317

3.6

7.5

(3.9

)

Worldwide
U.S.

12,197

11,919

2.3

2.3

-

23,611

23,030

2.5

2.5

-

International

11,823

11,393

3.8

13.9

(10.1

)

23,835

22,603

5.5

13.3

(7.8

)

Worldwide

24,020

23,312

3.0

8.0

(5.0

)

47,446

45,633

4.0

7.8

(3.8

)

COVID-19 Vaccine
U.S.

45

51

(11.5

)

(11.5

)

-

120

151

(20.4

)

(20.4

)

-

International

499

113

* * *

881

113

* * *
Worldwide

544

164

* * *

1,001

264

* * *
Worldwide
U.S.

12,152

11,868

2.4

2.4

-

23,491

22,879

2.7

2.7

-

International

11,324

11,280

0.4

9.8

(9.4

)

22,954

22,490

2.1

9.5

(7.4

)

Worldwide excluding COVID-19 Vaccine

$

23,476

23,148

1.4

%

6.0

(4.6

)

$

46,445

45,369

2.4

%

6.1

(3.7

)

Note: Columns and rows within tables may not add due to rounding
* Percentage greater than 100% or not meaningful
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Q2 QTD - Income Before Tax by Segment*
Dollars in Millions
Consumer Health
Separation Costs
Consumer Health 1 Pharmaceutical 1 MedTech Unallocated Worldwide Total

2022

2021

2022

2021

2022

2021

2022

2021

2022

2021

2022

2021

Reported Income Before Tax by Segment $

784

866

4,420

4,294

1,141

1,746

(237)

(244)

(268)

-

5,840

6,662

% to Sales

20.6%

22.5%

33.2%

34.4%

16.5%

25.0%

-1.0%

-1.0%

-1.1%

0.0%

24.3%

28.6%

Intangible asset amortization expense

100

105

736

842

259

255

-

-

-

-

1,095

1,202

In-process research and development

-

-

-

-

-

-

-

-

-

-

-

-

Litigation related

78

122

36

(81)

271

(64)

-

-

-

-

385

(23)

Loss/(gain) on securities

-

(18)

102

(151)

7

(74)

-

-

-

-

109

(243)

Restructuring related

25

27

23

17

80

64

-

-

-

-

128

108

Acquisition, integration and divestiture related

-

-

-

-

-

14

-

-

-

-

-

14

Medical Device Regulation

-

-

-

-

70

56

-

-

-

-

70

56

COVID-19 Vaccine related costs

-

-

276

-

-

-

-

-

-

-

276

-

Consumer Health separation costs

-

-

-

-

-

-

-

-

268

-

268

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

Adjusted Income Before Tax by Segment $

987

1,102

5,593

4,921

1,828

1,997

(237)

(244)

-

-

8,171

7,776

% to Sales

25.9%

28.6%

42.0%

39.4%

26.5%

28.6%

-1.0%

-1.0%

0.0%

0.0%

34.0%

33.4%

1 Prior year income before tax has been reclassified as Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes
*Estimated as of 7/19/2022
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Q2 YTD - Income Before Tax by Segment*
Dollars in Millions
Consumer Health
Separation Costs
Consumer Health 1 Pharmaceutical 1 MedTech Unallocated Worldwide Total

2022

2021

2022

2021

2022

2021

2022

2021

2022

2021

2022

2021

Reported Income Before Tax by Segment $

1,470

1,708

8,344

9,463

2,618

3,375

(360)

(455)

(370)

-

11,702

14,091

% to Sales

19.9%

22.8%

31.9%

38.5%

18.9%

24.9%

-0.8%

-1.0%

-0.8%

0.0%

24.7%

30.9%

Intangible asset amortization expense

194

211

1,496

1,698

513

508

-

-

-

-

2,203

2,417

In-process research and development

-

-

610

-

-

-

-

-

-

-

610

-

Litigation related

78

122

36

(81)

271

(64)

-

-

-

-

385

(23)

Loss/(gain) on securities

0

(20)

496

(114)

24

(74)

-

-

-

-

520

(208)

Restructuring related

39

55

9

37

152

120

-

-

-

-

200

212

Acquisition, integration and divestiture related

-

-

-

(570)

-

46

-

-

-

-

-

(524)

Medical Device Regulation

-

-

-

-

130

102

-

-

-

-

130

102

COVID-19 Vaccine related costs

-

-

276

-

-

-

-

-

-

-

276

-

Consumer Health separation costs

-

-

-

-

-

-

-

-

370

-

370

-

Other

-

-

-

-

-

-

(7)

-

-

-

(7)

-

Adjusted Income Before Tax by Segment $

1,781

2,076

11,267

10,433

3,708

4,013

(367)

(455)

-

-

16,389

16,067

% to Sales

24.1%

27.7%

43.0%

42.4%

26.7%

29.6%

-0.8%

-1.0%

0.0%

0.0%

34.5%

35.2%

1 Prior year income before tax has been reclassified as Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes
*Estimated as of 7/19/2022
Johnson & Johnson and Subsidiaries
GAAP to Non-GAAP Reconciliation
$ in Millions
Quarter to Date
Consumer Health separation tax related costs
In-process
research and
development
Acquisition, integration and
divestiture related
(Loss)/gain on
securities
COVID-19 Vaccine
Related Costs
Consumer Health
separation costs
Tax legislation
and other
tax related
Second Quarter
July 3, 2022
Non-GAAP
Second Quarter
July 3, 2022
GAAP
Intangible asset
amortization
Litigation related Restructuring
related
Medical Device
Regulation
Other
Cost of products sold

$

7,919

(1,083

)

(17

)

(25

)

(194

)

-

-

-

-

6,600

Selling, marketing and admin expenses

6,226

(6

)

6,220

Research and development expense

3,703

-

(39

)

(110

)

3,554

Other (Income) / Expense

273

(12

)

(385

)

(26

)

-

(109

)

28

(268

)

-

-

(499

)

In-process research and development

-

-

-

Restructuring

85

(85

)

-

Provision for taxes on income

1,026

170

(29

)

-

25

-

25

13

65

44

(2

)

(78

)

-

1,259

Net Earnings

4,814

925

414

-

103

-

84

57

211

224

2

78

-

6,912

Consumer Health separation tax related costs
Second Quarter
July 4, 2021
GAAP
In-process research and development Acquisition, integration and divestiture related (Loss)/gain on securities COVID-19 Vaccine Related Costs Consumer Health separation costs Tax legislation and other tax related Second Quarter
July 4, 2021
Non-GAAP
Intangible asset amortization Litigation related Restructuring related Medical Device Regulation Other
Cost of products sold

$

7,587

(1,202

)

(20

)

(20

)

6,345

Selling, marketing and admin expenses

6,073

(6

)

6,067

Research and development expense

3,394

-

(30

)

3,364

Other (Income) / Expense

(488

)

-

23

(32

)

(14

)

243

-

-

-

-

(268

)

In-process research and development

-

-

-

Restructuring

56

(56

)

-

Provision for taxes on income

384

163

(1

)

-

17

3

(57

)

10

-

-

-

632

-

1,151

Net Earnings

6,278

1,039

(22

)

-

91

11

(186

)

46

-

-

-

(632

)

-

6,625

Year to Date
Consumer Health separation tax related costs
Six Months
July 3, 2022
GAAP
In-process research and development Acquisition, integration and divestiture related (Loss)/gain on securities COVID-19 Vaccine Related Costs Consumer Health separation costs Tax legislation and other tax related Six Months
July 3, 2022
Non-GAAP
Intangible asset amortization Litigation related Restructuring related Medical Device Regulation Other
Cost of products sold

$

15,517

(2,191

)

(33

)

(47

)

(194

)

13,052

Selling, marketing and admin expenses

12,164

(12

)

12,152

Research and development expense

7,165

-

(71

)

(110

)

6,984

Other (Income) / Expense

171

(12

)

(385

)

(12

)

-

(520

)

28

(370

)

-

7

(1,093

)

In-process research and development

610

(610

)

-

Restructuring

155

(155

)

-

Provision for taxes on income

1,739

338

(82

)

138

37

-

121

24

65

67

(98

)

1

(2

)

2,348

Net Earnings

9,963

1,865

467

472

163

-

399

106

211

303

98

(1

)

(5

)

14,041

Consumer Health separation tax related costs
Six Months
July 4, 2021
GAAP
In-process research and development Acquisition, integration and divestiture related (1) (Loss)/gain on securities COVID-19 Vaccine Related Costs Consumer Health separation costs Tax legislation and other tax related Six Months
July 4, 2021
Non-GAAP
Intangible asset amortization Litigation related Restructuring related Medical Device Regulation Other
Cost of products sold

$

14,650

(2,417

)

(47

)

(37

)

12,149

Selling, marketing and admin expenses

11,505

(11

)

11,494

Research and development expense

6,572

-

(54

)

6,518

Other (Income) / Expense

(1,370

)

-

23

(56

)

524

208

-

-

-

-

(671

)

In-process research and development

-

-

-

Restructuring

109

(109

)

-

Provision for taxes on income

1,616

340

(1

)

-

37

(98

)

(49

)

19

-

-

-

654

-

2,518

Net Earnings

12,475

2,077

(22

)

-

175

(426

)

(159

)

83

-

-

-

(654

)

-

13,549

(1) 2021 primarily includes gains on the divestitures of two Pharmaceutical brands outside of the United States.

Press Contacts:
Jake Sargent
(732) 524-1090

Investor Contacts:
Jessica Moore
(732) 524-2955

Raychel Kruper
(732) 524-6164

News Provided by Business Wire via QuoteMedia

JNJ

Kaleido Collaborates with Janssen on Metabolic Therapies

Kaleido Biosciences (NADAQ:KLDO) announced a research collaboration with Janssen’s World Without Disease Accelerator, part of the Janssen Pharmaceutical Companies of Johnson & Johnson (NYSE:JNJ).

As quoted in the press release:

Keep reading...Show less

XBiotech Sells Human Antibody to Janssen for US$750 Million

XBiotech (NASDAQ:XBIT) announced the closing of the sale of its True Human antibody Bermekimab to Johnson & Johnson’s (NYSE:JNJ) Janssen Biotech.

As quoted in the press release:

Keep reading...Show less
CSE:BOSS

YIELD GROWTH Announces 130 Retail Locations Confirmed to Sell Urban Juve Products

The Yield Growth Corp. (CSE:BOSS, OTCQB:BOSQF, Frankfurt:YG3) is pleased to announce that 130 retail locations across Canada and the US have agreed to sell Urban Juve products with 90 retail locations now live with product. The locations are diverse geographically, and will bring luxury, hemp-powered skincare products to new markets across North America.

Keep reading...Show less

Aduro Biotech Announces Initiation of Phase 1b Clinical Trial in Non-Small Cell Lung Cancer under Janssen Strategic Partnership

Aduro Biotech (NASDAQ:ADRO) announced the recent initiation of a Phase 1b study of ADU-214 (JNJ-64041757) in combination with nivolumab for the treatment of advanced lung cancer. ADU-214 is an immunotherapy based on Aduro’s live, attenuated double-deleted Listeria (LADD) technology platform in development for the treatment of advanced or metastatic non-small cell lung cancer. Janssen Biotech, Inc. (Janssen), Aduro’s license partner for ADU-214, is conducting the global trial.

As quoted in the press release:

Keep reading...Show less

Minerva Neurosciences to Report First Quarter 2016 Financial Results and Business Updates on May 3, 2016

| Source:Minerva Neurosciences, Inc.



WALTHAM, Mass., April 26, 2016 (GLOBE NEWSWIRE) — Minerva Neurosciences, Inc. (NASDAQ:NERV), a clinical-stage biopharmaceutical company focused on the development of therapies to treat central nervous system (CNS) disorders, today announced that it will release financial results and business updates for the first quarter of 2016 on Tuesday, May 3, 2016.  The Company will host a webcast and conference call that day at 8:30 a.m. Eastern Time to discuss these results and updates.
The live call may be accessed by dialing (877) 312-5845 for domestic callers or (765) 507-2618 for international callers and referring to conference ID number 74086869.  A live webcast of the conference call will be available online in the Investors and Media section of the Company’s website at ir.minervaneurosciences.com.  The archived webcast will be available on the Company’s website beginning approximately two hours after the event for 30 days.
About Minerva Neurosciences:
Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of a portfolio of products to treat CNS diseases.  Minerva’s proprietary compounds include: MIN-101, in Phase IIb development for schizophrenia; MIN-202 (JNJ-42847922), which recently completed Phase IIa and Phase Ib clinical trials for insomnia and major depressive disorder (MDD), respectively; MIN-117, in Phase IIa development for MDD; and MIN-301, in pre-clinical development for Parkinson’s disease.  Minerva’s common stock is listed on the NASDAQ Global Market under the symbol “NERV.”  For more information, please visit www.minervaneurosciences.com.

Contact:
William B. Boni
VP, Investor Relations/
Corp. Communications
Minerva Neurosciences, Inc.
(617) 600-7376

 






Keep reading...Show less

Viemed Healthcare Announces Second Quarter 2022 Financial Results

Viemed Healthcare, Inc. (the "Company" or "Viemed") (NASDAQ:VMD and TSX:VMD.TO), a national leader in respiratory care and technology-enabled home medical equipment services, announced today that it has reported its financial results for the three and six months ended June 30, 2022.

Operational highlights (all dollar amounts are USD):

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Johnson & Johnson to Participate in the 2022 Wells Fargo Securities Healthcare Conference

Johnson & Johnson (NYSE: JNJ) will participate in the 2022 Wells Fargo Securities Healthcare Conference at the Encore Boston Harbor in Everett, MA on Wednesday, September 7 th . Ashley McEvoy, Executive Vice President, Worldwide Chairman, MedTech will represent the Company in a session scheduled at 11:00 a.m. (Eastern Time).

This conference call will be available to investors and other interested parties by visiting the Johnson & Johnson website at www.investor.jnj.com .

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Viemed Announces Executive Additions to Lead Acquisition Growth

Viemed Healthcare, Inc. (the "Company" or "Viemed") (NASDAQ:VMD and TSX:VMD.TO), a national leader in respiratory care and technology-enabled home medical equipment services, announced the additions of Michael Freeman as Chief Business Development Officer and Jeremy Trahan as Chief Legal Officer and Executive Vice President of Acquisitions and Strategic Transactions. Prior to joining the team at Viemed, Freeman and Trahan were executives at LHC Group, Inc ("LHC")(NASDAQ:LHCG), where together they directed and were integrally involved in over 100 transactions valued at approximately $1.9 billion, collectively.

"We are thrilled to expand our team of extremely talented executives by welcoming Michael and Jeremy," said Casey Hoyt, Viemed Chief Executive Officer. "Together, they have a proven track record of success and their leadership and experience will support a strong acquisition infrastructure within our organization. I am confident that they will play a critical role in the next major chapter of our organizational growth."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
ALR Technologies Announces First Shipment of GluCurve Pet CGMs Expected in October and Update on the Manufacturing Agreement

ALR Technologies Announces First Shipment of GluCurve Pet CGMs Expected in October and Update on the Manufacturing Agreement

ALR Technologies SG Pte. Ltd ("ALRT" or the "Company") (OTCQB: ALRT), the diabetes management company, announces the Company has received manufacturing approval from Infinovo Medical Co., Ltd. ("Infinovo") to place the first purchase order ("PO") for the GluCurve Pet CGM with an expected delivery date of October 2022. Furthermore, the manufacturing and supply agreement with Infinovo was subject to certain closing conditions, including entering into a binding sales and distribution agreement for the GluCurve Pet CGM by July 31, 2022. Both parties agreed to let that agreement terminate and are now working on completing a new agreement under the same terms, extending the closing condition for ALRT to enter into a binding sales and distribution agreement for GluCurve to August 31, 2022.

"We have agreed in principle on the key terms for a global sales and distribution agreement with a leading animal health company," commented Joe Stern, Head of Animal Health at ALRT. "The last step in their due diligence process is to evaluate the GluCurve Pet CGM internally by using it on their own sample of customers and their respective pets. This step is taking longer than we initially projected due to scheduling delays. After discussing the delays with Infinovo we agreed it would be in both parties' best interest to complete a new contract extending the date of the closing condition for a sales and distribution agreement date to August 31, 2022. Based on our non-inferiority study results earlier this year, we do not expect this delay to alter our commercialization schedule and will provide further updates on timing and details of the initial launch upon the execution of the global sales and distribution agreement."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Bausch Health Provides Update Following Oral Order in XIFAXAN® Patent Litigation

-- Company to Appeal Expected Court Decision on Certain XIFAXAN® Patents –

Bausch Health Companies Inc. (NYSETSX: BHC), and its gastroenterology business Salix Pharmaceuticals, today announced the U.S. District Court of Delaware issued an Oral Order in the matter of Salix Pharmaceuticals, Ltd. et al v. Norwich Pharmaceuticals, Inc. regarding the infringement and validity of certain U.S. Patents protecting the composition and use of XIFAXAN® (rifaximin) 550 mg tablets for the treatment of irritable bowel syndrome with diarrhea (IBS-D) and reduction in risk of overt hepatic encephalopathy (HE) recurrence.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

IIROC Trade Resumption - BHC

Trading resumes in:

Company: Bausch Health Companies Inc.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×