Johnson & Johnson Reports 2021 First-Quarter Results:

 
 

Johnson & Johnson (NYSE: JNJ) today announced results for first-quarter 2021. "Johnson & Johnson delivered a strong first quarter performance led by the above market growth of our Pharmaceutical business and continued recovery in Medical Devices," said Alex Gorsky Chairman and Chief Executive Officer. "The ability to deliver these results while simultaneously advancing our robust pipeline of life-enhancing medicines, products and solutions during these times is a testament to the strength and resilience of our business and the dedication of the 135,000 employees of Johnson & Johnson who strive every day to profoundly change the trajectory of health for humanity and make healthier communities for everyone, everywhere."

 

   OVERALL FINANCIAL RESULTS:   

 
 
                                              
 
 

   FIRST QUARTER   

 
 
 

  ($ in Millions, except EPS)  

 
 

   2021   

 
 

   2020   

 
 

   %  Change   

 
 

   Reported Sales   

 
 

  $        22,321  

 
 

  $        20,691  

 
 

  7.9%  

 
 

   Net Earnings   

 
 

  6,197  

 
 

  5,796  

 
 

  6.9  

 
 

   EPS (diluted)   

 
 

  $            2.32  

 
 

  $            2.17  

 
 

  6.9%  

 
 
 
 
 
 

   Non-GAAP*   

 
 

   FIRST QUARTER   

 
 
 

  ($ in Millions, except EPS)  

 
 

   2021   

 
 

   2020   

 
 

   %  Change   

 
 

   Operational Sales   1,2    

 
 
 
 

  5.5%  

 
 

   Adjusted Operational Sales   1,3    

 
 
 
 

  6.0  

 
 

   Adjusted Net Earnings   1,4    

 
 

  6,924  

 
 

  6,154  

 
 

  12.5  

 
 

   Adjusted EPS (diluted)   1,4    

 
 

  $            2.59  

 
 

  $            2.30  

 
 

  12.6%  

 
 
 
 
          
 
 
 

   1  

 
 

  Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules  

 
 

   2  

 
 

  Excludes the impact of translational currency  

 
 

   3  

 
 

  Excludes the net impact of acquisitions and divestitures and translational currency  

 
 

   4  

 
 

  Excludes intangible amortization expense and special items  

 
 
 

   REGIONAL SALES RESULTS:   

 
 
                               
 
 

   FIRST QUARTER   

 
 

   %  Change   

 
 

   

 

   

 

  ($ in Millions)  

 
 

   2021   

 
 

   2020   

 
 

    
Reported
 
 
 

 
 

    
Operational
   1,2  
 
 

 
 

    
Currency
 
 
 

 
 

   Adjusted
Operational   1,3  
 
 

 
 

   U.S.   

 
 

  $        11,111  

 
 

  $        10,699  

 
 

  3.9%  

 
 

  3.9  

 
 

  -  

 
 

  3.9  

 
 

   International   

 
 

  11,210  

 
 

  9,992  

 
 

  12.2  

 
 

  7.3  

 
 

  4.9  

 
 

  8.2  

 
 

   Worldwide   

 
 

  $        22,321  

 
 

  $        20,691  

 
 

  7.9%  

 
 

  5.5  

 
 

  2.4  

 
 

  6.0  

 
 
 
 
          
 
 
 

   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:   

 
 
                                      
 
 

   FIRST QUARTER   

 
 

   %  Change   

 
 

  ($ in Millions)  

 
 

   2021   

 
 

   2020   

 
 

    
Reported
 
 
 

 
 

    
Operational
   1,2  
 
 

 
 

    
Currency
 
 
 

 
 

   Adjusted
Operational   1,3  
 
 

 
 

   Consumer Health   

 
 

  $          3,543  

 
 

  $          3,625  

 
 

  (2.3)%  

 
 

  (3.3)  

 
 

  1.0  

 
 

  (2.9)  

 
 

   Pharmaceutical   

 
 

  12,199  

 
 

  11,134  

 
 

  9.6  

 
 

  7.1  

 
 

  2.5  

 
 

  7.4  

 
 

   Medical Devices   

 
 

  6,579  

 
 

  5,932  

 
 

  10.9  

 
 

  8.0  

 
 

  2.9  

 
 

  8.8  

 
 

   Worldwide   

 
 

  $        22,321  

 
 

  $        20,691  

 
 

  7.9%  

 
 

  5.5  

 
 

  2.4  

 
 

  6.0  

 
 
 
 
          
 
 
 

   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  

 
 
 

   FIRST-QUARTER 2021 SEGMENT COMMENTARY:   

 

   Consumer Health
 
Consumer Health worldwide operational sales, excluding the net impact of acquisitions and divestitures, declined 2.9%* primarily driven by negative prior year comparisons related to the COVID-19 pantry loading in Q1 2020, mainly in over-the counter products.  Partially offsetting the decline is growth in LISTERINE in oral care products, JOHNSON'S BABY in baby care products, international skin health/beauty products and NICORETTE in international over-the-counter products.

 

   Pharmaceutical
 
Pharmaceutical worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 7.4%* driven by DARZALEX (daratumumab), 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,   INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults, IMBRUVICA (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer. This growth was partially offset by biosimilar and generic competition, with declines primarily in REMICADE (infliximab), a biologic approved for the treatment of a number of immune-mediated inflammatory diseases, and U.S. ZYTIGA (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic castration-resistant prostate cancer.

 

   Medical Devices
 
Medical Devices worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 8.8%*, and reflects the benefit of market recovery from COVID-19 impacts in the prior year. Contributors to growth were electrophysiology products in the Interventional Solutions business, worldwide biosurgery and energy products, and international endocutters in Advanced Surgery, wound closure products in General Surgery, contact lenses and surgery in the Vision business and trauma products in Orthopaedics; partially offset by knee products in Orthopaedics.

 

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

 
 
                         
 

  Regulatory
Decisions
 

 
 

  PONVORY (ponesimod) approved by U.S. FDA, an oral treatment for adults with relapsing
multiple sclerosis proven superior to (teriflunomide) in reducing annual relapses and brain
lesions
 

 
 

    (press release)    

 
 

  Johnson & Johnson Single-Shot COVID-19 Vaccine granted conditional marketing
authorization by European Commission
 

 
 

    (press release)    

 
 

  Johnson & Johnson Single-Shot COVID-19 Vaccine granted emergency use listing by the
World Health Organization
 

 
 

    (press release)    

 
 

  Johnson & Johnson COVID-19 Vaccine authorized by U.S. FDA for emergency use  

 
 

    (press release)    

 
 

  SPRAVATO (Esketamine Nasal Spray) authorized in Europe for the rapid reduction of
depressive symptoms in a psychiatric emergency for patients with major depressive disorder
 

 
 

    (press release)    

 
 

  MONOFOCAL INTRAOCULAR LENS - TECNIS EYHANCE AND TECNIS EYHANCE
TORIC II IOLS - receives FDA approval for a next generation treatment for cataract patients
 

 
 

    (press release)    

 
 

  Regulatory
Submission
 

 
 

  Submission of supplemental new drug application to U.S. FDA by ViiV Healthcare for
expanded use of CABENUVA (rilpivirine and cabotegravir) as an HIV treatment for use
every two months
 

 
 

    (press release)    

 
 

  Other  

 
 

  Janssen provides update on Phase 3 ACIS Study in patients with metastatic castration-
resistant prostate cancer treated with ERLEADA (apalutamide) and ZYTIGA (abiraterone
acetate) plus prednisone combination ¹
 

 
 

    (press release)    

 
 

  Johnson & Johnson announces advance purchase agreement with the African Vaccine
Acquisition Trust for the Company's COVID-19 vaccine candidate
 

 
 

    (press release)    

 
 

  PONVORY (ponesimod) receives positive CHMP opinion for the treatment of adults with
relapsing forms of multiple sclerosis with active disease defined by clinical or imaging features
 

 
 

    (press release)    

 
 

  CAR-T Therapy Ciltacabtagene Autoleucel (Cilta-cel) accepted for accelerated assessment
in Europe for the treatment of patients with heavily pretreated multiple myeloma
 

 
 

    (press release)    

 
 
 
 
 
 

   1 Subsequent to the quarter  

 
 
 

   FULL-YEAR 2021 GUIDANCE:
 
Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.

 
 
                     
 

  ($ in Billions, except EPS)  

 
 

   January 2021   

 
 

   April 2021   

 
 

  Adjusted Operational Sales 1,2  

 

  Change vs. Prior Year  

 
 

  8.0% - 9.5%  

 
 

  8.7% - 9.9%  

 
 

  Operational Sales 2  

 

  Change vs. Prior Year  

 
 

  $88.8B - $90.0B  

 

  7.5% – 9.0%  

 
 

  $89.3B - $90.3B  

 

  8.2% – 9.4%  

 
 

  Estimated Reported Sales 3  

 

  Change vs. Prior Year  

 
 

  $90.5B - $91.7B  

 

  9.5% – 11.0%  

 
 

  $90.6B - $91.6B  

 

  9.7% – 10.9%  

 
 
 
 
 

  Adjusted Operational EPS (Diluted) 2,4  

 

  Change vs. Prior Year  

 
 

  $9.25 - $9.45  

 

  15.2% - 17.7%  

 
 

  $9.30 - $9.45  

 

  15.8% - 17.7%  

 
 

  Adjusted EPS (Diluted) 3,4  

 

  Change vs. Prior Year  

 
 

  $9.40 - $9.60  

 

  17.1% - 19.6%  

 
 

  $9.42 - $9.57  

 

  17.3% - 19.2%  

 
 
 
 
          
 
 
 

   1  

 
 

  Non-GAAP financial measure; excludes the net impact of acquisitions and divestitures  

 
 

   2  

 
 

  Non-GAAP financial measure; excludes the impact of translational currency  

 
 

   3  

 
 

  Calculated using Euro Average Rate: January 2021 = $1.21 and April 2021 = $1.19 (Illustrative purposes only)  

 
 

   4  

 
 

  Non-GAAP financial measure; excludes intangible amortization expense and special items  

 
 
 

Other modeling considerations will be provided on the webcast .

 

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

 

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

 

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

 

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

 

   NOTE     TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS:
 
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, market position and business strategy. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays and cancellations of medical procedures, supply chain disruptions and other impacts to the business, or on the Company's ability to execute business continuity plans, as a result of the COVID-19 pandemic, economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the Company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 3, 2021 including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," in the Company's most recently filed Quarterly Report on Form 10-Q and the Company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov , www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

 
 
                                                                                                                                                                                                                                                                                                             
 

   Johnson & Johnson and Subsidiaries   

 
 
 
 
 
 
 
 
 
 
 
 

   Supplementary Sales Data   

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

  (Unaudited; Dollars in Millions)  

 
 
 

   FIRST QUARTER   

 
 
 
 
 
 
 
 

  Percent Change  

 
 
 
 

   2021   

 
 
 

   2020   

 
 
 

  Total  

 
 
 

  Operations  

 
 
 

  Currency  

 
 

   Sales to customers by   

 
 
 
 
 
 
 
 
 
 
 
 

   segment of business   

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

  Consumer Health  

 
 
 
 
 
 
 
 
 
 
 
 

  U.S.  

 
 
 

   $     1,611   

 
 
 

   1,740   

 
 
 

  (7.4)  

 
 

  %  

 
 

  (7.4)  

 
 
 

  -  

 
 

  International  

 
 
 

   1,932   

 
 
 

   1,885   

 
 
 

  2.5  

 
 
 

  0.5  

 
 
 

  2.0  

 
 
 
 

   3,543   

 
 
 

   3,625   

 
 
 

  (2.3)  

 
 
 

  (3.3)  

 
 
 

  1.0  

 
 
 
 
 
 
 
 
 
 
 
 
 

  Pharmaceutical  

 
 
 
 
 
 
 
 
 
 
 
 

  U.S.  

 
 
 

   6,446   

 
 
 

   6,061   

 
 
 

  6.4  

 
 
 

  6.4  

 
 
 

  -  

 
 

  International  

 
 
 

   5,753   

 
 
 

   5,073   

 
 
 

  13.4  

 
 
 

  7.9  

 
 
 

  5.5  

 
 
 
 

   12,199   

 
 
 

   11,134   

 
 
 

  9.6  

 
 
 

  7.1  

 
 
 

  2.5  

 
 
 
 
 
 
 
 
 
 
 
 
 

  Medical Devices  

 
 
 
 
 
 
 
 
 
 
 
 

  U.S.  

 
 
 

   3,054   

 
 
 

   2,898   

 
 
 

  5.4  

 
 
 

  5.4  

 
 
 

  -  

 
 

  International  

 
 
 

   3,525   

 
 
 

   3,034   

 
 
 

  16.2  

 
 
 

  10.5  

 
 
 

  5.7  

 
 
 
 

   6,579   

 
 
 

   5,932   

 
 
 

  10.9  

 
 
 

  8.0  

 
 
 

  2.9  

 
 
 
 
 
 
 
 
 
 
 
 
 

  U.S.  

 
 
 

   11,111   

 
 
 

   10,699   

 
 
 

  3.9  

 
 
 

  3.9  

 
 
 

  -  

 
 

  International  

 
 
 

   11,210   

 
 
 

   9,992   

 
 
 

  12.2  

 
 
 

  7.3  

 
 
 

  4.9  

 
 

  Worldwide  

 
 
 

   $   22,321   

 
 
 

   20,691   

 
 
 

  7.9  

 
 

  %  

 
 

  5.5  

 
 
 

  2.4  

 
 
 
 
 
 
 
 
 
 
 
 
 

   Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.   

 
 
 
 
 
 
 

 

 

 

 
 
                                                                                                                                                                          
 

   Johnson & Johnson and Subsidiaries   

 
 
 
 
 
 
 
 
 
 
 

   Supplementary Sales Data   

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

  (Unaudited; Dollars in Millions)  

 
 

   FIRST QUARTER   

 
 
 
 
 
 
 

  Percent Change  

 
 
 

   2021   

 
 
 

   2020   

 
 
 

  Total  

 
 
 

  Operations  

 
 
 

  Currency  

 
 

   Sales to customers by   

 
 
 
 
 
 
 
 
 
 
 

   geographic area   

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

  U.S.  

 
 

   $    11,111   

 
 
 

   10,699   

 
 
 

  3.9  

 
 

  %  

 
 

  3.9  

 
 
 

  -  

 
 
 
 
 
 
 
 
 
 
 
 

  Europe  

 
 

   5,414   

 
 
 

   4,827   

 
 
 

  12.1  

 
 
 

  4.7  

 
 
 

  7.4  

 
 

  Western Hemisphere excluding U.S.  

 
 

   1,424   

 
 
 

   1,502   

 
 
 

  (5.1)  

 
 
 

  0.0  

 
 
 

  (5.1)  

 
 

  Asia-Pacific, Africa  

 
 

   4,372   

 
 
 

   3,663   

 
 
 

  19.4  

 
 
 

  13.7  

 
 
 

  5.7  

 
 

  International  

 
 

   11,210   

 
 
 

   9,992   

 
 
 

  12.2  

 
 
 

  7.3  

 
 
 

  4.9  

 
 
 
 
 
 
 
 
 
 
 
 

  Worldwide  

 
 

   $    22,321   

 
 
 

   20,691   

 
 
 

  7.9  

 
 

  %  

 
 

  5.5  

 
 
 

  2.4  

 
 
 
 
 
 
 
 
 
 
 
 

   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)   

 
 

   FIRST QUARTER   

 
 
 
 
 
 
 
 
 
 
 
 
 

   2021   

 
 
 

   2020   

 
 
 

  Percent  

 
 
 
 
 

   Percent   

 
 
 
 
 

   Percent   

 
 
 

  Increase  

 
 
 

   Amount   

 
 
 

   to Sales   

 
 
 

   Amount   

 
 
 

   to Sales   

 
 
 

  (Decrease)  

 
 

   Sales to customers   

 
 

   $      22,321   

 
 
 

   100.0   

 
 
 

   $      20,691   

 
 
 

   100.0   

 
 
 

  7.9  

 
 

   Cost of products sold   

 
 

   7,063   

 
 
 

   31.7   

 
 
 

   7,062   

 
 
 

   34.1   

 
 
 

  0.0  

 
 

   Gross Profit   

 
 

   15,258   

 
 
 

   68.3   

 
 
 

   13,629   

 
 
 

   65.9   

 
 
 

  12.0  

 
 

   Selling, marketing and administrative expenses   

 
 

   5,432   

 
 
 

   24.3   

 
 
 

   5,203   

 
 
 

   25.1   

 
 
 

  4.4  

 
 

   Research and development expense   

 
 

   3,178   

 
 
 

   14.2   

 
 
 

   2,580   

 
 
 

   12.5   

 
 
 

  23.2  

 
 

   Interest (income) expense, net   

 
 

   48   

 
 
 

   0.2   

 
 
 

   (42)   

 
 
 

   (0.2)   

 
 
 
 

   Other (income) expense, net   

 
 

   (882)   

 
 
 

   (3.9)   

 
 
 

   (679)   

 
 
 

   (3.3)   

 
 
 
 

   Restructuring   

 
 

   53   

 
 
 

   0.2   

 
 
 

   58   

 
 
 

   0.3   

 
 
 
 

   Earnings before provision for taxes on income   

 
 

   7,429   

 
 
 

   33.3   

 
 
 

   6,509   

 
 
 

   31.5   

 
 
 

  14.1  

 
 

   Provision for taxes on income   

 
 

   1,232   

 
 
 

   5.5   

 
 
 

   713   

 
 
 

   3.5   

 
 
 

  72.8  

 
 

   Net earnings   

 
 

   6,197   

 
 
 

   27.8   

 
 
 

   5,796   

 
 
 

   28.0   

 
 
 

  6.9  

 
 
 
 
 
 
 
 
 
 
 
 

   Net earnings per share (Diluted)   

 
 

   $          2.32   

 
 
 
 
 

   $          2.17   

 
 
 
 
 

  6.9  

 
 
 
 
 
 
 
 
 
 
 
 

   Average shares outstanding (Diluted)   

 
 

   2,672.7   

 
 
 
 
 

   2,671.0   

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

   Effective tax rate   

 
 

   16.6   

 
 

   %   

 
 
 
 

   11.0   

 
 

   %   

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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

 
 
 
 
 
 
 
 
 
 
 

   Earnings before provision for taxes on income   

 
 

   $        8,291   

 
 
 

   37.1   

 
 
 

   $        7,244   

 
 
 

   35.0   

 
 
 

  14.5  

 
 

   Net earnings   

 
 

   $        6,924   

 
 
 

   31.0   

 
 
 

   $        6,154   

 
 
 

   29.7   

 
 
 

  12.5  

 
 

   Net earnings per share (Diluted)   

 
 

   $          2.59   

 
 
 
 
 

   $          2.30   

 
 
 
 
 

  12.6  

 
 

   Effective tax rate   

 
 

   16.5   

 
 

   %   

 
 
 
 

   15.0   

 
 

   %   

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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

 
 
 
 
 
 
 
 
 
 
 
 

 

 

 

 

 

 
 
                                                                                                                                            
 

   Johnson & Johnson and Subsidiaries   

 
 
 
 
 
 

   Reconciliation of Non-GAAP Financial Measures   

 
 
 
 
 
 
 
 
 

   First Quarter   

 
 
 

  (Dollars in Millions Except Per Share Data)  

 
 
 

   2021   

 
 
 

   2020   

 
 
 

  Net Earnings, after tax- as reported  

 
 
 

   $6,197   

 
 
 

   $5,796   

 
 
 
 
 
 
 
 
 

   Pre-tax Adjustments   

 
 
 
 
 
 
 

  Intangible Asset Amortization expense  

 
 
 

  1,215  

 
 
 

  1,118  

 
 
 

  Litigation expense  

 
 
 

  -  

 
 
 

  120  

 
 
 

  Restructuring related  

 
 
 

  104  

 
 
 

  118  

 
 
 

  Acquisition, integration and divestiture related 1  

 
 
 

  (538)  

 
 
 

  (962)  

 
 
 

  Unrealized (gains)/losses on securities  

 
 
 

  35  

 
 
 

  327  

 
 
 

  Medical Device Regulation  

 
 
 

  46  

 
 
 

  14  

 
 
 
 
 
 
 
 
 

   Tax Adjustments   

 
 
 
 
 
 
 

  Tax impact on special item adjustments 2  

 
 
 

  (113)  

 
 
 

  (267)  

 
 
 

  Tax legislation and other tax related  

 
 
 

  (22)  

 
 
 

  (110)  

 
 
 

  Adjusted Net Earnings, after tax  

 
 
 

   $6,924   

 
 
 

   $6,154   

 
 
 

  Average shares outstanding (Diluted)  

 
 
 

  2,672.7  

 
 
 

  2,671.0  

 
 
 

  Adjusted net earnings per share (Diluted)  

 
 
 

   $2.59   

 
 
 

   $2.30   

 
 
 

  Operational adjusted net earnings per share (Diluted)  

 
 
 

   $2.49   

 
 
 
 
 
 
 
 
 
 
 

   Notes:   

 
 
 
 
 
 

   1  

 
 

  Acquisition, integration and divestiture related for the first quarter of 2021 primarily includes the gain on the divestiture of 2
Pharmaeutical brands outside of the U.S.  The first quarter of 2020 primarily includes a $983M Contingent Consideration reversal
related to the timing of certain developmental milestones associated with the Auris Health acquisition.
 

 
 

   2  

 
 

  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    

 
 

   FIRST QUARTER 2021 ACTUAL vs. 2020 ACTUAL   

 
 
 

   Segments   

 
 
 
 

   Consumer Health   

 
 
 

   Pharmaceutical   

 
 
 

   Medical Devices   

 
 
 

   Total   

 
 

   WW As Reported   

 
 
 

   (2.3)%   

 
 
 

   9.6%   

 
 
 

   10.9%   

 
 
 

   7.9%   

 
 

  U.S.  

 
 
 

  (7.4)%  

 
 
 

  6.4%  

 
 
 

  5.4%  

 
 
 

  3.9%  

 
 

  International  

 
 
 

  2.5%  

 
 
 

  13.4%  

 
 
 

  16.2%  

 
 
 

  12.2%  

 
 
 
 
 
 
 
 
 
 
 

   WW Currency   

 
 
 

   1.0   

 
 
 

   2.5   

 
 
 

   2.9   

 
 
 

   2.4   

 
 

  U.S.  

 
 
 

  -  

 
 
 

  -  

 
 
 

  -  

 
 
 

  -  

 
 

  International  

 
 
 

  2.0  

 
 
 

  5.5  

 
 
 

  5.7  

 
 
 

  4.9  

 
 
 
 
 
 
 
 
 
 
 

   WW Operational   

 
 
 

   (3.3)%   

 
 
 

   7.1%   

 
 
 

   8.0%   

 
 
 

   5.5%   

 
 

  U.S.  

 
 
 

  (7.4)%  

 
 
 

  6.4%  

 
 
 

  5.4%  

 
 
 

  3.9%  

 
 

  International  

 
 
 

  0.5%  

 
 
 

  7.9%  

 
 
 

  10.5%  

 
 
 

  7.3%  

 
 
 
 
 
 
 
 
 
 
 

   General Surgery   

 
 
 
 
 
 
 
 
 
 

    Advanced Sterilization Products    

 
 
 
 
 
 
 

   0.6   

 
 
 

   0.2   

 
 

  U.S.  

 
 
 
 
 
 
 

  0.0  

 
 
 

  0.0  

 
 

  International  

 
 
 
 
 
 
 

  1.2  

 
 
 

  0.4  

 
 
 
 
 
 
 
 
 
 
 

   All Other Acquisitions and Divestitures   

 
 
 

   0.4   

 
 
 

   0.3   

 
 
 

   0.1   

 
 
 

   0.3   

 
 

  U.S.  

 
 
 

  0.5  

 
 
 

  (0.2)  

 
 
 

  0.2  

 
 
 

  0.0  

 
 

  International  

 
 
 

  0.4  

 
 
 

  0.9  

 
 
 

  0.0  

 
 
 

  0.5  

 
 
 
 
 
 
 
 
 
 
 

   WW Adjusted Operational   

 
 
 

   (2.9)%   

 
 
 

   7.4%   

 
 
 

   8.8%   

 
 
 

   6.0%   

 
 

  U.S.  

 
 
 

  (6.9)%  

 
 
 

  6.2%  

 
 
 

  5.6%  

 
 
 

  3.9%  

 
 

  International  

 
 
 

  0.9%  

 
 
 

  8.8%  

 
 
 

  11.8%  

 
 
 

  8.2%  

 
 
 
 
 
 
 
 
 
 
 

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

 
 
 
 
 

 

 

 

 
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
 
 
 

 

 

    REPORTED SALES vs. PRIOR PERIOD ($MM)    

 
 
 
 

   FIRST QUARTER   

 
 
 
 
 
 
 
 
 

   % Change   

 
 
 
 
 
 

    2021    

 
 
 

    2020    

 
 

    Reported    

 
 

    Operational    (1)      

 
 

    Currency    

 
 
 
 

    CONSUMER HEALTH SEGMENT    (2)      

 
 
 
 
 
 
 
 
 
 
 

   OTC   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   $              599   

 
 
 

   689   

 
 

  -13.0%  

 
 

  -13.0%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   575   

 
 
 

   659   

 
 

  -12.8%  

 
 

  -16.6%  

 
 

  3.8%  

 
 
 
 

  WW  

 
 
 

   1,175   

 
 
 

   1,348   

 
 

  -12.9%  

 
 

  -14.8%  

 
 

  1.9%  

 
 
 
 

   SKIN HEALTH / BEAUTY   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   634   

 
 
 

   659   

 
 

  -3.9%  

 
 

  -3.9%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   529   

 
 
 

   458   

 
 

  15.7%  

 
 

  12.3%  

 
 

  3.4%  

 
 
 
 

  WW  

 
 
 

   1,163   

 
 
 

   1,117   

 
 

  4.1%  

 
 

  2.8%  

 
 

  1.3%  

 
 
 
 

   ORAL CARE   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   163   

 
 
 

   176   

 
 

  -7.2%  

 
 

  -7.2%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   254   

 
 
 

   219   

 
 

  16.0%  

 
 

  13.9%  

 
 

  2.1%  

 
 
 
 

  WW  

 
 
 

   417   

 
 
 

   395   

 
 

  5.7%  

 
 

  4.5%  

 
 

  1.2%  

 
 
 
 

   BABY CARE   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   96   

 
 
 

   92   

 
 

  4.2%  

 
 

  4.2%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   293   

 
 
 

   269   

 
 

  8.9%  

 
 

  11.3%  

 
 

  -2.4%  

 
 
 
 

  WW  

 
 
 

   389   

 
 
 

   361   

 
 

  7.7%  

 
 

  9.5%  

 
 

  -1.8%  

 
 
 
 

   WOMEN'S HEALTH   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   3   

 
 
 

   4   

 
 

  -25.8%  

 
 

  -25.8%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   219   

 
 
 

   228   

 
 

  -3.9%  

 
 

  -2.2%  

 
 

  -1.7%  

 
 
 
 

  WW  

 
 
 

   222   

 
 
 

   232   

 
 

  -4.3%  

 
 

  -2.6%  

 
 

  -1.7%  

 
 
 
 

   WOUND CARE / OTHER   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   115   

 
 
 

   119   

 
 

  -3.0%  

 
 

  -3.0%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   61   

 
 
 

   52   

 
 

  17.6%  

 
 

  14.2%  

 
 

  3.4%  

 
 
 
 

  WW  

 
 
 

   177   

 
 
 

   171   

 
 

  3.3%  

 
 

  2.2%  

 
 

  1.1%  

 
 
 
 
 
 
 
 
 
 
 
 
 
 

    TOTAL CONSUMER HEALTH    

 
 
 
 
 
 
 
 
 
 
 

   US   

 
 
 

   1,611   

 
 
 

   1,740   

 
 

   -7.4%   

 
 

   -7.4%   

 
 

   -   

 
 
 
 

   Intl   

 
 
 

   1,932   

 
 
 

   1,885   

 
 

   2.5%   

 
 

   0.5%   

 
 

   2.0%   

 
 
 
 

   WW   

 
 
 

   $           3,543   

 
 
 

   3,625   

 
 

   -2.3%   

 
 

   -3.3%   

 
 

   1.0%   

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

  See footnotes at end of schedule  

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 

 

    REPORTED SALES vs. PRIOR PERIOD ($MM)    

 
 
 

   FIRST QUARTER   

 
 
 
 
 
 
 
 
 

   % Change   

 
 
 
 

    PHARMACEUTICAL SEGMENT    (2,3)      

 
 
 

    2021    

 
 
 

    2020    

 
 

    Reported    

 
 

    Operational    (1)      

 
 

    Currency    

 
 
 
 
 
 
 
 
 
 
 
 
 
 

    IMMUNOLOGY    

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   $           2,413   

 
 
 

   2,410   

 
 

  0.1%  

 
 

  0.1%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   1,501   

 
 
 

   1,228   

 
 

  22.3%  

 
 

  15.9%  

 
 

  6.4%  

 
 
 
 

  WW  

 
 
 

   3,914   

 
 
 

   3,638   

 
 

  7.6%  

 
 

  5.5%  

 
 

  2.1%  

 
 
 
 

   REMICADE   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   489   

 
 
 

   625   

 
 

  -21.7%  

 
 

  -21.7%  

 
 

  -  

 
 
 
 

  US Exports (4)  

 
 
 

   57   

 
 
 

   110   

 
 

  -48.4%  

 
 

  -48.4%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   232   

 
 
 

   256   

 
 

  -9.4%  

 
 

  -12.1%  

 
 

  2.7%  

 
 
 
 

  WW  

 
 
 

   777   

 
 
 

   990   

 
 

  -21.5%  

 
 

  -22.2%  

 
 

  0.7%  

 
 
 
 

   SIMPONI / SIMPONI ARIA   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   255   

 
 
 

   272   

 
 

  -5.9%  

 
 

  -5.9%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   307   

 
 
 

   258   

 
 

  18.9%  

 
 

  13.8%  

 
 

  5.1%  

 
 
 
 

  WW  

 
 
 

   562   

 
 
 

   529   

 
 

  6.2%  

 
 

  3.7%  

 
 

  2.5%  

 
 
 
 

   STELARA   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   1,331   

 
 
 

   1,217   

 
 

  9.4%  

 
 

  9.4%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   817   

 
 
 

   603   

 
 

  35.6%  

 
 

  27.6%  

 
 

  8.0%  

 
 
 
 

  WW  

 
 
 

   2,148   

 
 
 

   1,819   

 
 

  18.1%  

 
 

  15.4%  

 
 

  2.7%  

 
 
 
 

   TREMFYA   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   274   

 
 
 

   187   

 
 

  46.3%  

 
 

  46.3%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   143   

 
 
 

   109   

 
 

  32.0%  

 
 

  23.1%  

 
 

  8.9%  

 
 
 
 

  WW  

 
 
 

   418   

 
 
 

   296   

 
 

  41.0%  

 
 

  37.8%  

 
 

  3.2%  

 
 
 
 

   OTHER IMMUNOLOGY   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   7   

 
 
 

   -   

 
 

  *  

 
 

  *  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   2   

 
 
 

   3   

 
 

  -38.4%  

 
 

  -36.3%  

 
 

  -2.1%  

 
 
 
 

  WW  

 
 
 

   8   

 
 
 

   3   

 
 

  *  

 
 

  *  

 
 

  *  

 
 
 
 

    INFECTIOUS DISEASES    

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   512   

 
 
 

   436   

 
 

  17.4%  

 
 

  17.4%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   494   

 
 
 

   483   

 
 

  2.3%  

 
 

  -2.2%  

 
 

  4.5%  

 
 
 
 

  WW  

 
 
 

   1,007   

 
 
 

   920   

 
 

  9.5%  

 
 

  7.1%  

 
 

  2.4%  

 
 
 
 

   COVID-19 VACCINE   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   100   

 
 
 

   -   

 
 

  *  

 
 

  *  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   -   

 
 
 

   -   

 
 

  -  

 
 

  -  

 
 

  -  

 
 
 
 

  WW  

 
 
 

   100   

 
 
 

   -   

 
 

  *  

 
 

  *  

 
 

  -  

 
 
 
 

   EDURANT / rilpivirine   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   10   

 
 
 

   12   

 
 

  -12.3%  

 
 

  -12.3%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   233   

 
 
 

   212   

 
 

  9.8%  

 
 

  0.9%  

 
 

  8.9%  

 
 
 
 

  WW  

 
 
 

   243   

 
 
 

   224   

 
 

  8.6%  

 
 

  0.2%  

 
 

  8.4%  

 
 
 
 

   PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   380   

 
 
 

   396   

 
 

  -3.8%  

 
 

  -3.8%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   166   

 
 
 

   184   

 
 

  -9.9%  

 
 

  -10.4%  

 
 

  0.5%  

 
 
 
 

  WW  

 
 
 

   546   

 
 
 

   579   

 
 

  -5.8%  

 
 

  -5.9%  

 
 

  0.1%  

 
 
 
 

   OTHER INFECTIOUS DISEASES   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   21   

 
 
 

   29   

 
 

  -27.0%  

 
 

  -27.0%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   96   

 
 
 

   87   

 
 

  9.7%  

 
 

  7.4%  

 
 

  2.3%  

 
 
 
 

  WW  

 
 
 

   117   

 
 
 

   116   

 
 

  0.6%  

 
 

  -1.2%  

 
 

  1.8%  

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 

 

    REPORTED SALES vs. PRIOR PERIOD ($MM)    

 
 
 
 

   FIRST QUARTER   

 
 
 
 
 
 
 
 
 

   % Change   

 
 
 
 
 
 

    2021    

 
 
 

    2020    

 
 

    Reported    

 
 

    Operational    (1)      

 
 

    Currency    

 
 
 
 

    NEUROSCIENCE    

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   771   

 
 
 

   748   

 
 

  3.2%  

 
 

  3.2%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   949   

 
 
 

   910   

 
 

  4.3%  

 
 

  0.4%  

 
 

  3.9%  

 
 
 
 

  WW  

 
 
 

   1,721   

 
 
 

   1,658   

 
 

  3.8%  

 
 

  1.6%  

 
 

  2.2%  

 
 
 
 

   CONCERTA / Methylphenidate   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   47   

 
 
 

   52   

 
 

  -9.6%  

 
 

  -9.6%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   123   

 
 
 

   118   

 
 

  4.5%  

 
 

  -0.4%  

 
 

  4.9%  

 
 
 
 

  WW  

 
 
 

   171   

 
 
 

   171   

 
 

  0.2%  

 
 

  -3.2%  

 
 

  3.4%  

 
 
 
 

   INVEGA SUSTENNA / XEPLION /
INVEGA TRINZA / TREVICTA
 
 

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   589   

 
 
 

   544   

 
 

  8.3%  

 
 

  8.3%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   376   

 
 
 

   339   

 
 

  11.0%  

 
 

  4.5%  

 
 

  6.5%  

 
 
 
 

  WW  

 
 
 

   965   

 
 
 

   883   

 
 

  9.4%  

 
 

  6.9%  

 
 

  2.5%  

 
 
 
 

   RISPERDAL CONSTA   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   67   

 
 
 

   76   

 
 

  -11.8%  

 
 

  -11.8%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   89   

 
 
 

   94   

 
 

  -4.8%  

 
 

  -8.8%  

 
 

  4.0%  

 
 
 
 

  WW  

 
 
 

   157   

 
 
 

   170   

 
 

  -7.9%  

 
 

  -10.1%  

 
 

  2.2%  

 
 
 
 

   OTHER NEUROSCIENCE   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   67   

 
 
 

   75   

 
 

  -9.8%  

 
 

  -9.8%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   361   

 
 
 

   360   

 
 

  0.2%  

 
 

  -0.9%  

 
 

  1.1%  

 
 
 
 

  WW  

 
 
 

   428   

 
 
 

   435   

 
 

  -1.5%  

 
 

  -2.5%  

 
 

  1.0%  

 
 
 
 

    ONCOLOGY    

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   1,377   

 
 
 

   1,175   

 
 

  17.2%  

 
 

  17.2%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   2,193   

 
 
 

   1,839   

 
 

  19.3%  

 
 

  12.9%  

 
 

  6.4%  

 
 
 
 

  WW  

 
 
 

   3,570   

 
 
 

   3,013   

 
 

  18.5%  

 
 

  14.6%  

 
 

  3.9%  

 
 
 
 

   DARZALEX   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   691   

 
 
 

   463   

 
 

  49.2%  

 
 

  49.2%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   674   

 
 
 

   474   

 
 

  42.2%  

 
 

  35.3%  

 
 

  6.9%  

 
 
 
 

  WW  

 
 
 

   1,365   

 
 
 

   937   

 
 

  45.6%  

 
 

  42.2%  

 
 

  3.4%  

 
 
 
 

   ERLEADA   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   171   

 
 
 

   119   

 
 

  44.0%  

 
 

  44.0%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   90   

 
 
 

   24   

 
 

  *  

 
 

  *  

 
 

  *  

 
 
 
 

  WW  

 
 
 

   261   

 
 
 

   143   

 
 

  82.8%  

 
 

  79.7%  

 
 

  3.1%  

 
 
 
 

   IMBRUVICA   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   444   

 
 
 

   432   

 
 

  2.8%  

 
 

  2.8%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   680   

 
 
 

   599   

 
 

  13.5%  

 
 

  7.6%  

 
 

  5.9%  

 
 
 
 

  WW  

 
 
 

   1,125   

 
 
 

   1,031   

 
 

  9.0%  

 
 

  5.6%  

 
 

  3.4%  

 
 
 
 

   ZYTIGA / abiraterone acetate   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   50   

 
 
 

   139   

 
 

  -64.2%  

 
 

  -64.2%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   588   

 
 
 

   552   

 
 

  6.6%  

 
 

  0.0%  

 
 

  6.6%  

 
 
 
 

  WW  

 
 
 

   638   

 
 
 

   690   

 
 

  -7.6%  

 
 

  -12.9%  

 
 

  5.3%  

 
 
 
 

   OTHER ONCOLOGY   (5)    

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   21   

 
 
 

   22   

 
 

  -5.1%  

 
 

  -5.1%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   161   

 
 
 

   190   

 
 

  -15.3%  

 
 

  -19.3%  

 
 

  4.0%  

 
 
 
 

  WW  

 
 
 

   182   

 
 
 

   212   

 
 

  -14.2%  

 
 

  -17.9%  

 
 

  3.7%  

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 

 

    REPORTED SALES vs. PRIOR PERIOD ($MM)    

 
 
 
 
 

   FIRST QUARTER   

 
 
 
 
 
 
 
 
 

   % Change   

 
 
 
 
 
 

    2021    

 
 
 

    2020    

 
 

    Reported    

 
 

    Operational    (1)      

 
 

    Currency    

 
 
 
 

    PULMONARY HYPERTENSION    

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   573   

 
 
 

   486   

 
 

  18.0%  

 
 

  18.0%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   288   

 
 
 

   260   

 
 

  10.8%  

 
 

  5.6%  

 
 

  5.2%  

 
 
 
 

  WW  

 
 
 

   861   

 
 
 

   745   

 
 

  15.5%  

 
 

  13.7%  

 
 

  1.8%  

 
 
 
 

   OPSUMIT   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   272   

 
 
 

   229   

 
 

  18.5%  

 
 

  18.5%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   179   

 
 
 

   160   

 
 

  11.5%  

 
 

  6.3%  

 
 

  5.2%  

 
 
 
 

  WW  

 
 
 

   450   

 
 
 

   389   

 
 

  15.6%  

 
 

  13.5%  

 
 

  2.1%  

 
 
 
 

   UPTRAVI   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   259   

 
 
 

   212   

 
 

  21.9%  

 
 

  21.9%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   46   

 
 
 

   38   

 
 

  23.0%  

 
 

  15.7%  

 
 

  7.3%  

 
 
 
 

  WW  

 
 
 

   305   

 
 
 

   250   

 
 

  22.0%  

 
 

  20.9%  

 
 

  1.1%  

 
 
 
 

   OTHER PULMONARY HYPERTENSION   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   42   

 
 
 

   44   

 
 

  -3.5%  

 
 

  -3.5%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   63   

 
 
 

   62   

 
 

  1.4%  

 
 

  -2.1%  

 
 

  3.5%  

 
 
 
 

  WW  

 
 
 

   105   

 
 
 

   106   

 
 

  -0.6%  

 
 

  -2.7%  

 
 

  2.1%  

 
 
 
 

    CARDIOVASCULAR / METABOLISM / OTHER    

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   799   

 
 
 

   806   

 
 

  -0.9%  

 
 

  -0.9%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   328   

 
 
 

   354   

 
 

  -7.2%  

 
 

  -11.3%  

 
 

  4.1%  

 
 
 
 

  WW  

 
 
 

   1,127   

 
 
 

   1,160   

 
 

  -2.8%  

 
 

  -4.1%  

 
 

  1.3%  

 
 
 
 

   XARELTO   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   589   

 
 
 

   527   

 
 

  11.7%  

 
 

  11.7%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   -   

 
 
 

   -   

 
 

  -  

 
 

  -  

 
 

  -  

 
 
 
 

  WW  

 
 
 

   589   

 
 
 

   527   

 
 

  11.7%  

 
 

  11.7%  

 
 

  -  

 
 
 
 

   INVOKANA / INVOKAMET   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   87   

 
 
 

   117   

 
 

  -26.1%  

 
 

  -26.1%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   63   

 
 
 

   58   

 
 

  9.2%  

 
 

  4.2%  

 
 

  5.0%  

 
 
 
 

  WW  

 
 
 

   150   

 
 
 

   175   

 
 

  -14.4%  

 
 

  -16.1%  

 
 

  1.7%  

 
 
 
 

   PROCRIT / EPREX   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   62   

 
 
 

   76   

 
 

  -18.3%  

 
 

  -18.3%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   64   

 
 
 

   79   

 
 

  -18.1%  

 
 

  -22.2%  

 
 

  4.1%  

 
 
 
 

  WW  

 
 
 

   127   

 
 
 

   155   

 
 

  -18.2%  

 
 

  -20.3%  

 
 

  2.1%  

 
 
 
 

   OTHER   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   60   

 
 
 

   85   

 
 

  -28.8%  

 
 

  -28.8%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   201   

 
 
 

   217   

 
 

  -7.7%  

 
 

  -11.5%  

 
 

  3.8%  

 
 
 
 

  WW  

 
 
 

   261   

 
 
 

   302   

 
 

  -13.6%  

 
 

  -16.4%  

 
 

  2.8%  

 
 
 
 

    TOTAL PHARMACEUTICAL    

 
 
 
 
 
 
 
 
 
 
 

   US   

 
 
 

   6,446   

 
 
 

   6,061   

 
 

  6.4%  

 
 

  6.4%  

 
 

  -  

 
 
 
 

   Intl   

 
 
 

   5,753   

 
 
 

   5,073   

 
 

  13.4%  

 
 

  7.9%  

 
 

  5.5%  

 
 
 
 

   WW   

 
 
 

   $         12,199   

 
 
 

   11,134   

 
 

  9.6%  

 
 

  7.1%  

 
 

  2.5%  

 
 
 
 
 
 
 
 
 
 
 
 
 
 

  See footnotes at end of schedule  

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 

 

    REPORTED SALES vs. PRIOR PERIOD ($MM)    

 
 
 
 
 

   FIRST QUARTER   

 
 
 
 
 
 
 
 
 

   % Change   

 
 
 
 

    MEDICAL DEVICES SEGMENT    (2)      

 
 
 

    2021    

 
 
 

    2020    

 
 

    Reported    

 
 

    Operational    (1)      

 
 

    Currency    

 
 
 
 
 
 
 
 
 
 
 
 
 
 

    INTERVENTIONAL SOLUTIONS    

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   $              434   

 
 
 

   365   

 
 

  19.0%  

 
 

  19.0%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   514   

 
 
 

   362   

 
 

  42.0%  

 
 

  34.0%  

 
 

  8.0%  

 
 
 
 

  WW  

 
 
 

   949   

 
 
 

   727   

 
 

  30.4%  

 
 

  26.4%  

 
 

  4.0%  

 
 
 
 

    ORTHOPAEDICS    

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   1,249   

 
 
 

   1,250   

 
 

  -0.1%  

 
 

  -0.1%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   864   

 
 
 

   788   

 
 

  9.7%  

 
 

  3.1%  

 
 

  6.6%  

 
 
 
 

  WW  

 
 
 

   2,113   

 
 
 

   2,038   

 
 

  3.7%  

 
 

  1.2%  

 
 

  2.5%  

 
 
 
 

   HIPS   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   210   

 
 
 

   206   

 
 

  2.4%  

 
 

  2.4%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   146   

 
 
 

   132   

 
 

  11.2%  

 
 

  4.5%  

 
 

  6.7%  

 
 
 
 

  WW  

 
 
 

   357   

 
 
 

   337   

 
 

  5.8%  

 
 

  3.2%  

 
 

  2.6%  

 
 
 
 

   KNEES   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   185   

 
 
 

   214   

 
 

  -13.5%  

 
 

  -13.5%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   132   

 
 
 

   130   

 
 

  2.0%  

 
 

  -4.1%  

 
 

  6.1%  

 
 
 
 

  WW  

 
 
 

   317   

 
 
 

   343   

 
 

  -7.6%  

 
 

  -9.9%  

 
 

  2.3%  

 
 
 
 

   TRAUMA   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   450   

 
 
 

   407   

 
 

  10.7%  

 
 

  10.7%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   282   

 
 
 

   247   

 
 

  14.4%  

 
 

  7.7%  

 
 

  6.7%  

 
 
 
 

  WW  

 
 
 

   733   

 
 
 

   654   

 
 

  12.1%  

 
 

  9.5%  

 
 

  2.6%  

 
 
 
 

   SPINE, SPORTS & OTHER   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   403   

 
 
 

   423   

 
 

  -4.8%  

 
 

  -4.8%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   303   

 
 
 

   280   

 
 

  8.4%  

 
 

  1.7%  

 
 

  6.7%  

 
 
 
 

  WW  

 
 
 

   706   

 
 
 

   703   

 
 

  0.4%  

 
 

  -2.2%  

 
 

  2.6%  

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 

 

    REPORTED SALES vs. PRIOR PERIOD ($MM)    

 
 
 
 
 

   FIRST QUARTER   

 
 
 
 
 
 
 
 
 

   % Change   

 
 
 
 
 
 

    2021    

 
 
 

    2020    

 
 

    Reported    

 
 

    Operational    (1)      

 
 

    Currency    

 
 
 
 

    SURGERY    

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   898   

 
 
 

   844   

 
 

  6.5%  

 
 

  6.5%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   1,474   

 
 
 

   1,257   

 
 

  17.3%  

 
 

  11.7%  

 
 

  5.6%  

 
 
 
 

  WW  

 
 
 

   2,372   

 
 
 

   2,100   

 
 

  12.9%  

 
 

  9.6%  

 
 

  3.3%  

 
 
 
 

   ADVANCED   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   405   

 
 
 

   381   

 
 

  6.5%  

 
 

  6.5%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   713   

 
 
 

   567   

 
 

  25.7%  

 
 

  19.5%  

 
 

  6.2%  

 
 
 
 

  WW  

 
 
 

   1,118   

 
 
 

   948   

 
 

  18.0%  

 
 

  14.3%  

 
 

  3.7%  

 
 
 
 

   GENERAL   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   493   

 
 
 

   463   

 
 

  6.5%  

 
 

  6.5%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   761   

 
 
 

   690   

 
 

  10.3%  

 
 

  5.3%  

 
 

  5.0%  

 
 
 
 

  WW  

 
 
 

   1,254   

 
 
 

   1,153   

 
 

  8.8%  

 
 

  5.8%  

 
 

  3.0%  

 
 
 
 

    VISION    

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   472   

 
 
 

   439   

 
 

  7.4%  

 
 

  7.4%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   673   

 
 
 

   628   

 
 

  7.3%  

 
 

  3.9%  

 
 

  3.4%  

 
 
 
 

  WW  

 
 
 

   1,145   

 
 
 

   1,067   

 
 

  7.3%  

 
 

  5.4%  

 
 

  1.9%  

 
 
 
 

   CONTACT LENSES / OTHER   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   371   

 
 
 

   346   

 
 

  7.2%  

 
 

  7.2%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   486   

 
 
 

   467   

 
 

  4.0%  

 
 

  0.9%  

 
 

  3.1%  

 
 
 
 

  WW  

 
 
 

   857   

 
 
 

   814   

 
 

  5.3%  

 
 

  3.5%  

 
 

  1.8%  

 
 
 
 

   SURGICAL   

 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   101   

 
 
 

   93   

 
 

  8.2%  

 
 

  8.2%  

 
 

  -  

 
 
 
 

  Intl  

 
 
 

   187   

 
 
 

   160   

 
 

  17.0%  

 
 

  12.9%  

 
 

  4.1%  

 
 
 
 

  WW  

 
 
 

   288   

 
 
 

   253   

 
 

  13.7%  

 
 

  11.2%  

 
 

  2.5%  

 
 
 
 
 
 
 
 
 
 
 
 
 
 

    TOTAL MEDICAL DEVICES    

 
 
 
 
 
 
 
 
 
 
 

   US   

 
 
 

   3,054   

 
 
 

   2,898   

 
 

   5.4%   

 
 

   5.4%   

 
 

   -   

 
 
 
 

   Intl   

 
 
 

   3,525   

 
 
 

   3,034   

 
 

   16.2%   

 
 

   10.5%   

 
 

   5.7%   

 
 
 
 

   WW   

 
 
 

   $           6,579   

 
 
 

   5,932   

 
 

   10.9%   

 
 

   8.0%   

 
 

   2.9%   

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

   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) Refer to supplemental schedule  

 
 
 
 
 
 
 
 
 
 
 
 

 

 
 
                                                                                                                                                                                                                                                                                          
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

    Supplemental Sales Information
 
 
 
 
 

 
 

  (Dollars in Millions)  

 
 

  Prior quarter amounts have been reclassified to  

 
 

  conform to current quarter product disclosure  

 
 
 
 

   2019   

 
 
 

   2020   

 
 
 

   2020   

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

    PHARMACEUTICAL SEGMENT    (1)      

 
 
 

    Full Year    

 
 
 
 
 

    Q1    

 
 
 

    Q2    

 
 
 

    Q3    

 
 
 

    Q4    

 
 
 
 

    Full Year    

 
 
 
 
 

    Oncology    

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

   OTHER ONCOLOGY   (2)    

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

  US  

 
 
 

   70   

 
 
 
 
 

   22   

 
 
 

   20   

 
 
 

   21   

 
 
 

   20   

 
 
 
 

   83   

 
 
 
 
 

  Intl  

 
 
 

   1,087   

 
 
 
 
 

   190   

 
 
 

   185   

 
 
 

   181   

 
 
 

   183   

 
 
 
 

   738   

 
 
 
 
 

  WW  

 
 
 

   1,158   

 
 
 
 
 

   212   

 
 
 

   204   

 
 
 

   203   

 
 
 

   202   

 
 
 
 

   821   

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

   Note : Columns and rows within tables may not add due to rounding.  

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

  (1) Unaudited  

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

  (2) Other Oncology is inclusive of VELCADE, which was previously disclosed separately  

 
 
 
 
 
 
 
 
 
 
 
 

 

 
 

  (PRNewsfoto/Johnson & Johnson) 

 
 

 

 
 
 

 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/johnson--johnson-reports-2021-first-quarter-results-301272130.html  

 

SOURCE Johnson & Johnson

 
 

News Provided by PR Newswire via QuoteMedia

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