Viemed Announces Strategic Investment in Population Health Sector

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 that it has made a strategic investment in ModoHealth, a value-based care and patient management platform connecting payors, patients, and post-acute providers. ModoHealth expects to utilize the proceeds of the investment to fund the expansion of its proprietary patient management network, which combines clinical tools, remote patient monitoring, data analysis, and patient-centric engagement.

"We are incredibly excited to partner with the team at ModoHealth to grow the innovative population health platform," said Viemed Chief Executive Officer Casey Hoyt. "Data-driven care coordination solutions available in the home are critical to the evolution of value-based healthcare delivery models. In addition to supporting ModoHealth patients as a technology enabled post-acute provider on its platform, we look forward to expanding Viemed's collaboration with ModoHealth as a strategic investor."

ModoHealth's technology enables partners across the care continuum to collaborate through a secure platform in order to treat numerous disease states, supporting joint care coordination, evidence-based planning, tracking of patient engagement, and reporting of outcomes. Payors seeking to develop, implement, and manage value-based arrangements are able to utilize the platform to measure and improve costs by reducing hospitalizations and overall utilization. Providers benefit from the platform's connectivity and data integration, improving the efficiency of workflows and facilitating effective care planning and delivery. Patients are able to utilize connected devices to access daily well-being check-ins, medication tracking and alerts, learning lessons and activities, and telehealth, ultimately strengthening the relationship with the care team and improving outcomes. Viemed expects to leverage its connected healthcare expertise to treat patients in the ModoHealth network suffering from COPD, sleep apnea, and other respiratory conditions.

In exchange for its $2,000,000 cash investment, Viemed received an 18-month secured convertible promissory note and Viemed will participate in the ModoHealth provider network, utilizing the ModoHealth software platform to improve patient outcomes through enhanced patient engagement.

ABOUT VIEMED HEALTHCARE, INC.

Viemed is a provider of in-home medical equipment and post-acute respiratory healthcare services in the United States. Viemed's service offerings are focused on effective in-home treatment with clinical practitioners providing therapy and counseling to patients in their homes using cutting edge technology. Visit our website at www.viemed.com.

For further information, please contact:

Glen Akselrod
Bristol Capital
905-326-1888
glen@bristolir.com

Todd Zehnder
Chief Operating Officer
Viemed Healthcare, Inc.
337-504-3802
investorinfo@viemed.com

Forward-Looking Statements

Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 or "forward-looking information" as such term is defined in applicable Canadian securities legislation (collectively, "forward-looking statements"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "potential", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or "projects", or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "will", "should", "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. All statements other than statements of historical fact, including those that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance, including the Company's expectations about its investments in and collaboration with ModoHealth and the company's use of the ModoHealth software platform to treat patients in the ModoHealth network suffering from COPD, sleep apnea, and other respiratory conditions and improve patient outcomes, are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking statements to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: the general business, market and economic conditions in the regions in which the Company operates; the impact of the COVID-19 pandemic and the actions taken by governmental authorities, individuals and companies in response to the pandemic on our business, financial condition and results of operations, including on the Company's patient base, revenues, employees, and equipment and supplies; significant capital requirements and operating risks that the Company may be subject to; the ability of the Company to implement business strategies and pursue business opportunities; volatility in the market price of the Company's common shares; the Company's novel business model; the risk that the clinical application of treatments that demonstrate positive results in a study may not be positively replicated or that such test results may not be predictive of actual treatment results or may not result in the adoption of such treatments by providers; the state of the capital markets; the availability of funds and resources to pursue operations; reductions in reimbursement rates and audits of reimbursement claims by various governmental and private payor entities; dependence on few payors; possible new drug discoveries; dependence on key suppliers and the recall of certain Royal Philips BiPAP and CPAP devices and ventilators that we distribute and sell; granting of permits and licenses in a highly regulated business; competition; low profit market segments; disruptions in or attacks (including cyber-attacks) on the Company's information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which the Company is exposed; the failure of third parties to comply with their obligations; difficulty integrating newly acquired businesses; the impact of new and changes to, or application of, current laws and regulations; the overall difficult litigation and regulatory environment; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the Company's status as an emerging growth company and a smaller reporting company; and the occurrence of natural and unnatural catastrophic events or health epidemics or concerns, such as the COVID-19 pandemic, and claims resulting from such events or concerns; as well as those risk factors discussed or referred to in the Company's disclosure documents filed with the U.S. Securities and Exchange Commission (the "SEC") available on the SEC's website at www.sec.gov, including the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and with the securities regulatory authorities in certain provinces of Canada available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.

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VMD:CA,VMD

Federal Appellate Court Rejects Controversial J&J Ploy to Dodge Talc Cancer Lawsuits

Nachawati Law Group: Ovarian cancer victims deserve day in court

Trial lawyers with the Nachawati Law Group praised a ruling by the U.S. Court of Appeals for the Third Circuit rejecting Johnson & Johnson's (NYSE: JNJ) use of a controversial bankruptcy ploy to shed more than 38,000 lawsuits filed by women who developed ovarian cancer after using J&J's talc-based products.

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FDA Approves Abbott's Spinal Cord Stimulation for People Living with Painful Diabetic Peripheral Neuropathy

The new indication for Abbott's Proclaim™ XR SCS system provides a non-medication option for people with painful diabetic peripheral neuropathy
Spinal cord stimulation is proven to be more effective than conventional medical management in the treatment of chronic pain ^1,2

Abbott (NYSE: ABT) announced today that the U.S. Food and Drug Administration (FDA) has approved its Proclaim™ XR spinal cord stimulation (SCS) system to treat painful diabetic peripheral neuropathy (DPN), a debilitating complication of diabetes. The Proclaim XR SCS system can provide relief to DPN patients in need of alternatives to traditional treatment approaches, such as oral medication. People who receive therapy from the Proclaim XR SCS system will also be able to use Abbott's NeuroSphere™ Virtual Clinic, a connected care app that allows people to communicate with a physician and receive treatment adjustments remotely.

Roughly 34.2 million Americans, or 10.5% of the U.S. population, have diabetes. ³ Diabetic neuropathy, one of the complications of diabetes, is a type of damage seen predominately in nerves running to the feet. ⁴ During their lifetime, approximately 50% of adults with diabetes will develop peripheral neuropathy, which may include symptoms such as pain and numbness in the legs, feet and hands. ⁵

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Medtronic recommends rejection of below-market mini-tender offer by TRC Capital Investment Corporation

Medtronic plc (NYSE:MDT) recently became aware that TRC Capital Investment Corporation (TRC) has made an unsolicited mini-tender offer to purchase up to 1,500,000 Medtronic ordinary shares, representing approximately 0.1% of the company's outstanding ordinary shares. TRC's offer price of $77.25 per share in cash is approximately 4.5% lower than the $80.91 closing price of Medtronic ordinary shares on January 20, 2023 the last closing price prior to commencement of the offer.

Medtronic does not recommend or endorse TRC's unsolicited below-market mini-tender offer. Further, because the offer is at a price significantly below the current market price of Medtronic ordinary shares, Medtronic recommends that shareholders not tender their shares. Medtronic is not affiliated or associated with TRC, its mini-tender offer, or the mini-tender offer documentation.

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Abbott Reports Fourth-Quarter and Full-Year 2022 Results; Issues 2023 Financial Outlook

Fourth-quarter sales of $10.1 billion ; full-year 2022 sales of $43.7 billion
Full-year 2022 sales growth of 1.3 percent; organic sales growth of 6.4 percent
Full-year 2022 GAAP diluted EPS of $3.91 ; adjusted diluted EPS of $5.34
Continues to strengthen portfolio with steady cadence of new product approvals

Abbott (NYSE: ABT) today announced financial results for the fourth quarter ended Dec. 31, 2022 .

Fourth-quarter sales of $10.1 billion , which were negatively impacted by an expected year-over-year decline in COVID-19 testing-related sales, decreased 12.0 percent on a reported basis and 6.1 percent on an organic basis, which excludes the impact of foreign exchange.
Excluding COVID-19 testing-related sales ¹ , fourth-quarter sales decreased 1.4 percent on a reported basis and increased 5.4 percent on an organic basis.
Excluding COVID-19 testing-related sales ² and U.S. infant formula sales that were impacted by manufacturing disruptions ³ , full-year 2022 sales increased 1.9 percent on a reported basis and 7.4 percent on an organic basis.
GAAP diluted EPS was $0.59 in the fourth quarter. Excluding specified items, adjusted diluted EPS was $1.03 .
Abbott issues full-year 2023 guidance for diluted EPS from continuing operations on a GAAP basis of $3.05 to $3.25 and full-year adjusted EPS from continuing operations of $4.30 to $4.50 .
Abbott projects full-year 2023 organic sales growth, excluding COVID-19 testing-related sales, of high-single digits ⁴ and COVID-19 testing-related sales of around $2.0 billion .
In October, Abbott's market-leading FreeStyle Libre ^® continuous glucose monitoring system was named the "Best Medical Technology" of the last 50 years by the Galien Foundation.
In December, Abbott announced U.S. Food and Drug Administration (FDA) approval of its Eterna™ spinal cord stimulation system — the smallest implantable, rechargeable system currently available for the treatment of chronic pain. ⁵
In January, Abbott announced U.S. FDA approval of its minimally invasive Navitor™ transcatheter aortic valve implantation (TAVI) system for people with severe aortic stenosis who are at high risk for surgery.

"We significantly exceeded the EPS guidance we provided at the beginning of last year despite challenging global business conditions," said Robert B. Ford , chairman and chief executive officer, Abbott. "Our R&D pipeline continues to be highly productive with several recent and upcoming new product launches that position us well going forward."

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Completion of Global3D Acquisition

Medical technology company Singular Health Group Ltd (ASX: SHG) (“Singular Health”, or “the Company”) is pleased to advise that it has completed the acquisition of the assets of Global3D Pty Ltd (“Global3D”) as previously announced on 6 December 2022. The acquisition is the culmination of over two years of working together with Global3D to investigate and develop enhanced software, technology and 3D printing processes for a range of medical devices, including customised ankle foot orthotics and individualised prosthetics.

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Johnson & Johnson Reports Q4 and Full-Year 2022 Results

2022 Fourth-Quarter reported sales decline of 4.4% to $23.7 Billion primarily driven by unfavorable foreign exchange and reduced COVID-19 Vaccine sales vs. prior year. Operational growth excluding COVID-19 Vaccine of 4.6%*
2022 Fourth-Quarter earnings per share (EPS) of $1.33 decreasing 24.9% and adjusted EPS of $2.35 increasing by 10.3%*

2022 Full-Year reported sales growth of 1.3% to $94.9 Billion primarily driven by strong commercial execution partially offset by unfavorable foreign exchange. Operational growth of 6.1%*
2022 Full-Year earnings per share (EPS) of $6.73 decreasing 13.8% and adjusted EPS of $10.15 increasing by 3.6%*

Company guides 2023 adjusted operational sales growth excluding COVID-19 Vaccine of 4.0%* and adjusted operational EPS of $10.50, reflecting growth of 3.5%*

Johnson & Johnson (NYSE: JNJ) today announced results for fourth-quarter and full year 2022. "Our full year 2022 results reflect the continued strength and stability of our three business segments, despite macroeconomic challenges," said Joaquin Duato, Chairman of the Board and Chief Executive Officer. "I am inspired by our employees who make a difference in the health and lives of people around the world every day. As we look ahead to 2023, Johnson & Johnson is well-positioned to drive near-term growth, while also investing strategically to deliver long-term value."

OVERALL FINANCIAL RESULTS

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Contacts:

Erika Winkels	Ryan Weispfenning
Public Relations	Investor Relations
+1-763-526-8478	+1-763-505-4626

Total Company ($ in millions)

				% Change vs. 4Q21
	Sales 4Q22			Reported			Organic
	U.S.	Int'l	Total	U.S.	Int'l	Total	U.S.	Int'l	Total
Total ⁶	4,219	5,872	10,091	(13.1)	(11.2)	(12.0)	(13.1)	(0.9)	(6.1)
Nutrition	795	1,022	1,817	(14.4)	(8.3)	(11.1)	(14.4)	1.4	(5.7)
Diagnostics	1,695	1,610	3,305	(29.0)	(22.8)	(26.1)	(29.0)	(12.5)	(21.3)
Established Pharmaceuticals	—	1,216	1,216	n/a	1.0	1.0	n/a	7.9	7.9
Medical Devices	1,726	2,024	3,750	12.2	(8.4)	—	12.2	4.1	7.4


				% Change vs. 12M21
	Sales 12M22			Reported			Organic
	U.S.	Int'l	Total	U.S.	Int'l	Total	U.S.	Int'l	Total
Total ⁶	18,142	25,511	43,653	9.0	(3.5)	1.3	9.0	4.7	6.4
Nutrition	2,919	4,540	7,459	(17.9)	(4.2)	(10.1)	(17.9)	2.5	(6.2)
Diagnostics	8,646	7,938	16,584	21.3	(6.8)	6.0	21.3	1.3	10.4
Established Pharmaceuticals	—	4,912	4,912	n/a	4.1	4.1	n/a	10.6	10.6
Medical Devices	6,566	8,121	14,687	10.9	(3.8)	2.2	10.9	6.2	8.1

				% Change vs. 4Q21
	Sales excl. COVID tests 4Q22			Reported excl. COVID tests			Organic excl. COVID tests
	U.S.	Int'l	Total	U.S.	Int'l	Total	U.S.	Int'l	Total
Total ¹	3,443	5,579	9,022	5.8	(5.4)	(1.4)	5.8	5.3	5.4
Diagnostics	919	1,317	2,236	16.8	(3.6)	3.8	16.8	8.0	11.2

				% Change vs. 12M21
	Sales excl. COVID tests 12M22			Reported excl. COVID tests			Organic excl. COVID tests
	U.S.	Int'l	Total	U.S.	Int'l	Total	U.S.	Int'l	Total
Total	12,644	22,641	35,285	2.5	(1.8)	(0.3)	2.5	6.5	5.1
Diagnostics	3,148	5,068	8,216	11.4	(1.4)	3.1	11.4	7.1	8.6




Nutrition ($ in millions)

				% Change vs. 4Q21
	Sales 4Q22			Reported			Organic
	U.S.	Int'l	Total	U.S.	Int'l	Total	U.S.	Int'l	Total
Total	795	1,022	1,817	(14.4)	(8.3)	(11.1)	(14.4)	1.4	(5.7)
Pediatric	454	428	882	(20.4)	(8.9)	(15.2)	(20.4)	(1.2)	(11.8)
Adult	341	594	935	(4.8)	(7.9)	(6.8)	(4.8)	3.4	0.5

				% Change vs. 12M21
	Sales 12M22			Reported			Organic
	U.S.	Int'l	Total	U.S.	Int'l	Total	U.S.	Int'l	Total
Total	2,919	4,540	7,459	(17.9)	(4.2)	(10.1)	(17.9)	2.5	(6.2)
Pediatric	1,562	1,919	3,481	(28.7)	(8.9)	(19.0)	(28.7)	(3.9)	(16.6)
Adult	1,357	2,621	3,978	(0.5)	(0.4)	(0.4)	(0.5)	7.6	4.8

Diagnostics ($ in millions)

				% Change vs. 4Q21
	Sales 4Q22			Reported			Organic
	U.S.	Int'l	Total	U.S.	Int'l	Total	U.S.	Int'l	Total
Total	1,695	1,610	3,305	(29.0)	(22.8)	(26.1)	(29.0)	(12.5)	(21.3)
Core Laboratory	301	963	1,264	0.2	(8.1)	(6.3)	0.2	3.5	2.8
Molecular	62	118	180	(54.2)	(43.9)	(47.9)	(54.2)	(38.6)	(44.7)
Point of Care	88	43	131	(7.6)	7.0	(3.3)	(7.6)	14.4	(1.2)
Rapid Diagnostics	1,244	486	1,730	(33.0)	(38.2)	(34.5)	(33.0)	(28.3)	(31.6)

				% Change vs. 12M21
	Sales 12M22			Reported			Organic
	U.S.	Int'l	Total	U.S.	Int'l	Total	U.S.	Int'l	Total
Total	8,646	7,938	16,584	21.3	(6.8)	6.0	21.3	1.3	10.4
Core Laboratory	1,137	3,751	4,888	(0.7)	(5.8)	(4.7)	(0.7)	2.7	1.9
Molecular	370	625	995	(34.6)	(27.4)	(30.3)	(34.6)	(22.6)	(27.4)
Point of Care	372	153	525	(3.2)	0.8	(2.1)	(3.2)	6.0	(0.6)
Rapid Diagnostics	6,767	3,409	10,176	34.4	(3.1)	19.0	34.4	5.4	22.5

				% Change vs. 4Q21
	Sales excl. COVID tests 4Q22			Reported excl. COVID tests			Organic excl. COVID tests
	U.S.	Int'l	Total	U.S.	Int'l	Total	U.S.	Int'l	Total
Total	919	1,317	2,236	16.8	(3.6)	3.8	16.8	8.0	11.2
Core Laboratory	298	956	1,254	1.5	(5.3)	(3.8)	1.5	6.8	5.6
Molecular	45	98	143	(0.2)	(8.3)	(5.9)	(0.2)	(0.4)	(0.3)
Point of Care	88	43	131	(7.6)	7.0	(3.3)	(7.6)	14.4	(1.2)
Rapid Diagnostics	488	220	708	38.3	4.6	25.7	38.3	16.8	30.3

				% Change vs. 12M21
	Sales excl. COVID tests 12M22			Reported excl. COVID tests			Organic excl. COVID tests
	U.S.	Int'l	Total	U.S.	Int'l	Total	U.S.	Int'l	Total
Total	3,148	5,068	8,216	11.4	(1.4)	3.1	11.4	7.1	8.6
Core Laboratory	1,121	3,705	4,826	1.3	(2.9)	(2.0)	1.3	5.8	4.8
Molecular	180	404	584	11.4	8.0	9.0	11.4	14.8	13.8
Point of Care	372	153	525	(3.2)	0.8	(2.1)	(3.2)	6.0	(0.6)
Rapid Diagnostics	1,475	806	2,281	25.6	1.3	15.8	25.6	9.4	19.1




Established Pharmaceuticals ($ in millions)

				% Change vs. 4Q21
	Sales 4Q22			Reported			Organic
	U.S.	Int'l	Total	U.S.	Int'l	Total	U.S.	Int'l	Total
Total	—	1,216	1,216	n/a	1.0	1.0	n/a	7.9	7.9
Key Emerging Markets	—	902	902	n/a	3.9	3.9	n/a	10.3	10.3
Other	—	314	314	n/a	(6.5)	(6.5)	n/a	1.9	1.9

				% Change vs. 12M21
	Sales 12M22			Reported			Organic
	U.S.	Int'l	Total	U.S.	Int'l	Total	U.S.	Int'l	Total
Total	—	4,912	4,912	n/a	4.1	4.1	n/a	10.6	10.6
Key Emerging Markets	—	3,728	3,728	n/a	5.4	5.4	n/a	11.8	11.8
Other	—	1,184	1,184	n/a	0.4	0.4	n/a	7.3	7.3

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Medical Devices ($ in millions)

				% Change vs. 4Q21
	Sales 4Q22			Reported			Organic
	U.S.	Int'l	Total	U.S.	Int'l	Total	U.S.	Int'l	Total
Total	1,726	2,024	3,750	12.2	(8.4)	—	12.2	4.1	7.4
Rhythm Management	254	260	514	5.2	(13.3)	(5.0)	5.2	(0.5)	2.1
Electrophysiology	242	245	487	22.7	(19.8)	(3.1)	22.7	(6.6)	4.9
Heart Failure	171	59	230	0.1	(13.9)	(3.9)	0.1	(4.5)	(1.2)
Vascular	214	391	605	(7.5)	(12.5)	(10.8)	(7.5)	(1.4)	(3.5)
Structural Heart	214	227	441	10.9	0.4	5.2	10.9	15.7	13.5
Neuromodulation	163	39	202	3.7	(3.1)	2.3	3.7	11.7	5.3
Diabetes Care	468	803	1,271	34.9	(2.5)	8.6	34.9	9.8	17.3

				% Change vs. 12M21
	Sales 12M22			Reported			Organic
	U.S.	Int'l	Total	U.S.	Int'l	Total	U.S.	Int'l	Total
Total	6,566	8,121	14,687	10.9	(3.8)	2.2	10.9	6.2	8.1
Rhythm Management	1,029	1,090	2,119	1.1	(7.7)	(3.6)	1.1	1.9	1.5
Electrophysiology	909	1,018	1,927	17.0	(9.9)	1.1	17.0	0.7	7.3
Heart Failure	694	226	920	6.2	(4.0)	3.5	6.2	5.2	5.9
Vascular	864	1,619	2,483	(5.6)	(6.9)	(6.4)	(5.6)	1.5	(1.0)
Structural Heart	818	894	1,712	12.0	1.6	6.3	12.0	13.8	13.0
Neuromodulation	619	151	770	0.3	(8.1)	(1.4)	0.3	2.9	0.9
Diabetes Care	1,633	3,123	4,756	34.8	0.2	9.9	34.8	10.6	17.4

¹	In the fourth quarter of 2022, COVID-19 testing-related sales were $1.069 billion. In the fourth quarter of 2021, total worldwide sales were $11.468 billion, which included U.S. sales of $4.855 billion and International sales of $6.613 billion. In the fourth quarter of 2021, COVID-19 testing-related sales were $2.319 billion.
²	For the full-year 2022, COVID-19 testing-related sales were $8.368 billion. In 2021, total worldwide sales were $43.075 billion, which included U.S. sales of $16.642 billion and International sales of $26.433 billion. For the full-year 2021, COVID-19 testing-related sales were $7.679 billion. Diagnostic sales and COVID-19 testing-related sales in 2022 and 2021 are summarized below:

	Sales 4Q22			COVID Tests Sales 4Q22
	U.S.	Int'l	Total	U.S.	Int'l	Total
Total Diagnostics	1,695	1,610	3,305	776	293	1,069
Core Laboratory	301	963	1,264	3	7	10
Molecular	62	118	180	17	20	37
Rapid Diagnostics	1,244	486	1,730	756	266	1,022

	Sales 4Q21			COVID Tests Sales 4Q21
	U.S.	Int'l	Total	U.S.	Int'l	Total
Total Diagnostics	2,386	2,085	4,471	1,600	719	2,319
Core Laboratory	300	1,048	1,348	7	39	46
Molecular	135	210	345	89	103	192
Rapid Diagnostics	1,856	787	2,643	1,504	577	2,081

	Sales 12M22			COVID Tests Sales 12M22
	U.S.	Int'l	Total	U.S.	Int'l	Total
Total Diagnostics	8,646	7,938	16,584	5,498	2,870	8,368
Core Laboratory	1,137	3,751	4,888	16	46	62
Molecular	370	625	995	190	221	411
Rapid Diagnostics	6,767	3,409	10,176	5,292	2,603	7,895

	Sales 12M21			COVID Tests Sales 12M21
	U.S.	Int'l	Total	U.S.	Int'l	Total
Total Diagnostics	7,129	8,515	15,644	4,302	3,377	7,679
Core Laboratory	1,145	3,983	5,128	37	167	204
Molecular	566	861	1,427	405	487	892
Rapid Diagnostics	5,034	3,519	8,553	3,860	2,723	6,583


³	U.S. sales of certain infant formula products impacted by the 2022 manufacturing disruptions were $202 million in 4Q22 and $329 million in 4Q21 and $479 million for the full-year 2022 and $1.229 billion for the full-year 2021. Excluding COVID-19 testing-related sales and U.S. infant formula sales that were impacted by manufacturing disruptions, fourth-quarter sales were flat on a reported basis and increased 7.1 percent on an organic basis.
⁴	Abbott has not provided the GAAP financial measure for organic sales growth, excluding COVID-19 testing-related sales, on a forward-looking basis because the company is unable to predict the impact of foreign exchange due to the unpredictability of future changes in foreign exchange rates, which could significantly impact reported sales growth.
⁵	Abbott. Eterna SCS IPG Size Comparison Memo (MAT-2210151); 2022.
⁶	Total Abbott sales include Other Sales of approximately $3 million in 4Q22 and approximately $11 million in 12M22.
⁷	Data on file, Abbott Diabetes Care. Comparison based on publicly available information.

Abbott Laboratories and Subsidiaries Condensed Consolidated Statement of Earnings Fourth Quarter Ended December 31, 2022 and 2021 (in millions, except per share data) (unaudited)
	4Q22	4Q21	% Change
Net Sales	$10,091	$11,468	(12.0)

Cost of products sold, excluding amortization expense	4,593	4,766	(3.6)
Amortization of intangible assets	496	514	(3.7)
Research and development	725	762	(4.8)
Selling, general, and administrative	2,973	3,048	(2.5)
Total Operating Cost and Expenses	8,787	9,090	(3.3)

Operating Earnings	1,304	2,378	(45.2)

Interest expense, net	66	120	(45.2)
Net foreign exchange (gain) loss	(14)	(6)	n/m
Other (income) expense, net	(68)	(63)	8.1
Earnings before taxes	1,320	2,327	(43.3)
Taxes on earnings	287	338	(15.2)	1)

Net Earnings	$1,033	$1,989	(48.1)

Net Earnings excluding Specified Items, as described below	$1,811	$2,366	(23.4)	2)

Diluted Earnings per Common Share	$0.59	$1.11	(46.8)

Diluted Earnings per Common Share, excluding Specified Items, as described below	$1.03	$1.32	(22.0)	2)

Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options	1,754	1,782


NOTES:
See table titled "Non-GAAP Reconciliation of Financial Information" for additional details regarding specified items.
n/m = Percent change is not meaningful.
See footnotes on the following below.


1)	2021 Taxes on Earnings includes the recognition of approximately $40 million of net tax benefits as a result of the resolution of various tax positions related to prior years and approximately $45 million in excess tax benefits associated with share-based compensation.
2)	2022 Net Earnings and Diluted Earnings per Common Share, excluding Specified Items, excludes net after-tax charges of $778 million, or $0.44 per share, for intangible amortization, charges related to restructuring and cost reduction initiatives, expenses associated with acquisitions, and other net expenses.
	2021 Net Earnings and Diluted Earnings per Common Share from Continuing Operations, excluding Specified Items, excludes net after-tax charges of $377 million, or $0.21 per share, for intangible amortization and other expenses primarily associated with restructuring actions and acquisitions, partially offset by a change in estimate to the restructuring actions recognized in the second quarter of 2021 related to Abbott's manufacturing network for COVID-19 diagnostic tests to reflect current and projected demand.

Abbott Laboratories and Subsidiaries Non-GAAP Reconciliation of Financial Information Fourth Quarter Ended December 31, 2022 and 2021 (in millions, except per share data) (unaudited)

	4Q22
	As Reported (GAAP)	Specified Items	As Adjusted

Intangible Amortization	$ 496	$ (496)	$ —
Gross Margin	5,002	612	5,614
R&D	725	(71)	654
SG&A	2,973	(144)	2,829
Other (income) expense, net	(68)	(24)	(92)
Earnings before taxes	1,320	851	2,171
Taxes on Earnings	287	73	360
Net Earnings	1,033	778	1,811
Diluted Earnings per Share	$ 0.59	$ 0.44	$ 1.03

	4Q21
	As Reported (GAAP)	Specified Items	As Adjusted

Intangible Amortization	$ 514	$ (514)	$ —
Gross Margin	6,188	434	6,622
R&D	762	(39)	723
SG&A	3,048	(43)	3,005
Other (income) expense, net	(63)	(5)	(68)
Earnings before taxes	2,327	521	2,848
Taxes on Earnings	338	144	482
Net Earnings	1,989	377	2,366
Diluted Earnings per Share	$ 1.11	$ 0.21	$ 1.32

Abbott Laboratories and Subsidiaries Non-GAAP Reconciliation of Financial Information Twelve Months Ended December 31, 2022 and 2021 (in millions, except per share data) (unaudited)

	12M22
	As Reported (GAAP)	Specified Items	As Adjusted

Intangible Amortization	$ 2,013	$ (2,013)	$ —
Gross Margin	22,498	2,351	24,849
R&D	2,888	(282)	2,606
SG&A	11,248	(236)	11,012
Other (income) expense, net	(321)	(55)	(376)
Earnings before taxes	8,306	2,924	11,230
Taxes on Earnings	1,373	391	1,764
Net Earnings	6,933	2,533	9,466
Diluted Earnings per Share	$ 3.91	$ 1.43	$ 5.34

	12M21
	As Reported (GAAP)	Specified Items	As Adjusted

Intangible Amortization	$ 2,047	$ (2,047)	$ —
Gross Margin	22,491	2,476	24,967
R&D	2,742	(106)	2,636
SG&A	11,324	(317)	11,007
Other (income) expense, net	(277)	25	(252)
Earnings before taxes	8,211	2,874	11,085
Taxes on Earnings	1,140	578	1,718
Net Earnings	7,071	2,296	9,367
Diluted Earnings per Share	$ 3.94	$ 1.27	$ 5.21


1)	2022 Taxes on Earnings includes the recognition of approximately $20 million of net tax expense as a result of the resolution of various tax positions related to prior years and approximately $43 million in excess tax benefits associated with share-based compensation.
	2021 Taxes on Earnings includes the recognition of approximately $55 million of net tax benefits as a result of the resolution of various tax positions related to prior years and approximately $145 million in excess tax benefits associated with share-based compensation.
2)	2022 Net Earnings and Diluted Earnings per Common Share, excluding Specified Items, excludes net after-tax charges of $2.533 billion, or $1.43 per share, for intangible amortization, charges related to a voluntary recall and restructuring actions, the impairment of R&D intangible assets, acquisition-related costs and other net expenses.
	2021 Net Earnings and Diluted Earnings per Common Share from Continuing Operations, excluding Specified Items, excludes net after-tax charges of $2.296 billion, or $1.27 per share, for intangible amortization and other net expenses primarily associated with restructuring actions, certain litigation and acquisitions.

A reconciliation of the fourth-quarter tax rates for 2022 and 2021 is shown below:

	4Q22
($ in millions)	Pre-Tax Income	Taxes on Earnings	Tax Rate
As reported (GAAP)	$ 1,320	$ 287	21.7 %
Specified items	851	73
Excluding specified items	$ 2,171	$ 360	16.5 %

	4Q21
($ in millions)	Pre-Tax Income	Taxes on Earnings	Tax Rate
As reported (GAAP)	$ 2,327	$ 338	14.5 %	1)
Specified items	521	144
Excluding specified items	$ 2,848	$ 482	16.9 %

A reconciliation of the year-to-date tax rates for 2022 and 2021 is shown below:

	12M22
($ in millions)	Pre-Tax Income	Taxes on Earnings	Tax Rate
As reported (GAAP)	$ 8,306	$ 1,373	16.5 %	2)
Specified items	2,924	391
Excluding specified items	$ 11,230	$ 1,764	15.7 %
	12M21
($ in millions)	Pre-Tax Income	Taxes on Earnings	Tax Rate
As reported (GAAP)	$ 8,211	$ 1,140	13.9 %	3)
Specified items	2,874	578
Excluding specified items	$ 11,085	$ 1,718	15.5 %

Abbott Laboratories and Subsidiaries Details of Specified Items Fourth Quarter Ended December 31, 2022 (in millions, except per share data) (unaudited)

	Acquisition or Divestiture- related (a)	Restructuring and Cost Reduction Initiatives (b)	Intangible Amortization	Other (c)	Total Specifieds
Gross Margin	$ 23	$ 87	$ 496	$ 6	$ 612
R&D	(6)	(34)	—	(31)	(71)
SG&A	(7)	(135)	—	(2)	(144)
Other (income) expense, net	3	—	—	(27)	(24)
Earnings before taxes	$ 33	$ 256	$ 496	$ 66	851
Taxes on Earnings (d)					73
Net Earnings					$ 778
Diluted Earnings per Share					$ 0.44

The table above provides additional details regarding the specified items described on table titled "Condensed Consolidated Statement of Earnings."
a)	Acquisition-related expenses include integration costs, which represent incremental costs directly related to integrating the acquired businesses and include expenditures for the integration of systems, processes and business activities.
b)	Restructuring and cost reduction initiative expenses include severance, outplacement, and other direct costs associated with specific restructuring plans and cost reduction initiatives.
c)	Other includes incremental costs to comply with the European Union's Medical Device Regulations (MDR) and In Vitro Diagnostics Medical Device Regulations (IVDR) requirements for previously approved products as well as the impairment of an equity investment.
d)	Reflects the net tax benefit associated with the specified items.

	Q4			Full Year
($ in Millions, except EPS)	2022	2021	% Change	2022	2021	% Change
Reported Sales	$23,706	$24,804	(4.4)%	$94,943	$93,775	1.3%
Net Earnings	$3,520	$4,736	(25.7)%	$17,941	$20,878	(14.1)%
EPS (diluted)	$1.33	$1.77	(24.9)%	$6.73	$7.81	(13.8)%

	Q4			Full Year
*Non-GAAP ($ in Millions, except EPS)**	2022	2021	% Change	2022	2021	% Change
Operational Sales ^1,2			0.9%			6.1%
Adjusted Operational Sales ^1,3			0.8%			6.2%
Adjusted Net Earnings ^1,4	$6,218	$5,678	9.5%	$27,038	$26,195	3.2%
Adjusted EPS (diluted) ^1,4	$2.35	$2.13	10.3%	$10.15	$9.80	3.6%

Q4			% Change
($ in Millions)	2022	2021	Reported	Operational ^1,2	Currency	Adjusted Operational ^1,3
U.S.	$12,516	$12,163	2.9%	2.9	-	2.7
International	11,190	12,641	(11.5)	(1.1)	(10.4)	(1.0)
Worldwide	$23,706	$24,804	(4.4)%	0.9	(5.3)	0.8



Full Year			% Change
($ in Millions)	2022	2021	Reported	Operational ^1,2	Currency	Adjusted Operational ^1,3
U.S.	$48,580	$47,156	3.0%	3.0	-	3.0
International	46,363	46,619	(0.6)%	9.1	(9.7)	9.3
Worldwide	$94,943	$93,775	1.3%	6.1	(4.8)	6.2

Regulatory	DePuy Synthes Receives FDA Clearance for TELIGEN System	Press Release
	U.S. FDA Approves TECVAYLI (teclistamab-cqyv), the First Bispecific T-cell Engager Antibody for the Treatment of Patients with Relapsed or Refractory Multiple Myeloma	Press Release
	Janssen Submits Biologics License Application to U.S. FDA for Talquetamab for the Treatment of Patients with Relapsed or Refractory Multiple Myeloma	Press Release
Data Release	New TREMFYA (guselkumab) Data Shows an Overall Clinical Response Rate of Approximately 80 Percent in a Phase 2b Induction Study of Adults with Moderately to Severely Active Ulcerative Colitis	Press Release
	Janssen to Highlight Latest Scientific Advances in Hematologic Diseases at ASH 2022 with Clinical and Real-World Data Across Innovative Pipeline and Distinguished Portfolio	Press Release
	Late-Breaking Data from Pivotal Phase 3 PRECISION Study Demonstrates Significant and Sustained Effect of Aprocitentan on Lowering Blood Pressure for Patients with Difficult-to-Control Hypertension	Press Release
	New TREMFYA (guselkumab) Post-Hoc Analysis Reveals Active Psoriatic Arthritis Patients With Early Efficacy Had Meaningful Long-Term Improvement in Health-Related Quality of Life	Press Release
	New TREMFYA (guselkumab) Post-Hoc Analysis Reveals Early Efficacy Predicted Longer-Term Efficacy And Sustained Achievement Among A Diverse Active Psoriatic Arthritis Patient Population	Press Release
	CERENOVUS Reveals Positive Outcomes with Thrombectomy in Global Registry Studying Stroke-Inducing Blood Clots	Press Release
Other	Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board	Press Release
Other	Johnson & Johnson Completes Acquisition of Abiomed	Press Release

Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	FOURTH QUARTER										TWELVE 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.	$	1,696	1,529	10.9		%	10.9		-		$	6,599	6,516	1.3		%	1.3	-
International		2,071	2,199	(5.8	)		3.2		(9.0	)		8,354	8,519	(1.9	)		5.3	(7.2	)
		3,767	3,728	1.0			6.4		(5.4	)		14,953	15,035	(0.5	)		3.6	(4.1	)

Pharmaceutical ⁽¹⁾
U.S.		7,375	7,418	(0.6	)		(0.6	)	-			28,604	27,954	2.3			2.3	-
International		5,788	6,799	(14.9	)		(4.5	)	(10.4	)		23,959	23,726	1.0			11.9	(10.9	)
		13,163	14,217	(7.4	)		(2.5	)	(4.9	)		52,563	51,680	1.7			6.7	(5.0	)

Pharmaceutical excluding COVID-19 Vaccine ^(1,3)
U.S.		7,375	7,205	2.4			2.4		-			28,484	27,320	4.3			4.3	-
International		5,099	5,394	(5.5	)		6.0		(11.5	)		21,900	21,975	(0.3	)		10.3	(10.6	)
		12,474	12,599	(1.0	)		3.9		(4.9	)		50,384	49,295	2.2			6.9	(4.7	)

MedTech ⁽²⁾
U.S.		3,445	3,216	7.1			7.1		-			13,377	12,686	5.4			5.4	-
International		3,331	3,643	(8.6	)		2.9		(11.5	)		14,050	14,374	(2.3	)		6.9	(9.2	)
		6,776	6,859	(1.2	)		4.9		(6.1	)		27,427	27,060	1.4			6.2	(4.8	)

U.S.		12,516	12,163	2.9			2.9		-			48,580	47,156	3.0			3.0	-
International		11,190	12,641	(11.5	)		(1.1	)	(10.4	)		46,363	46,619	(0.6	)		9.1	(9.7	)
Worldwide		23,706	24,804	(4.4	)		0.9		(5.3	)		94,943	93,775	1.3			6.1	(4.8	)

U.S.		12,516	11,950	4.7			4.7		-			48,460	46,522	4.2			4.2	-
International		10,501	11,236	(6.5	)		4.4		(10.9	)		44,304	44,868	(1.3	)		8.2	(9.5	)
Worldwide excluding COVID-19 Vaccine ⁽³⁾	$	23,017	23,186	(0.7	)	%	4.6		(5.3	)	$	92,764	91,390	1.5		%	6.2	(4.7	)

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
Reconciliation of Non-GAAP Financial Measures

		Fourth Quarter				Twelve Months Ended
	(Dollars in Millions Except Per Share Data)	2022		2021		2022		2021
	Net Earnings, after tax- as reported	$3,520		$4,736		$17,941		$20,878

	Pre-tax Adjustments
	Intangible Asset Amortization expense	1,061		1,121		4,305		4,697
	Litigation related	262		274		866		2,328
	IPR&D	173		-		783		900
	Restructuring related	140		140		463		473
	Acquisition, integration and divestiture related ¹	196		26		196		(478	)
	(Gains)/losses on securities	6		(198	)	690		(533	)
	Medical Device Regulation ²	88		73		296		234
	COVID-19 Vaccine related costs ³	821		-		1,474		-
	Consumer Health separation costs	470		67		1,089		67
	Other	-		-		(7	)	-

	Tax Adjustments
	Tax impact on special item adjustments ⁴	(507	)	(184	)	(1,592	)	(1,281	)
	Consumer Health separation tax related costs	35		-		494		-
	Tax legislation and other tax related	(47	)	(377	)	40		(1,090	)
	Adjusted Net Earnings, after tax	$6,218		$5,678		$27,038		$26,195
	Average shares outstanding (Diluted)	2,650.1		2,670.2		2,663.9		2,674.0
	Adjusted net earnings per share (Diluted)	$2.35		$2.13		$10.15		$9.80
	Operational adjusted net earnings per share (Diluted)	$2.46				$10.70

	Notes:
¹	Acquisition, integration and divestiture related for 2022 primarily includes costs related to the Abiomed acquisition. Acquisition, integration and divestiture related for 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 during 2024.

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 remaining 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
FOURTH QUARTER 2022 ACTUAL vs. 2021 ACTUAL

Segments

	Consumer Health		Pharmaceutical		MedTech		Total

WW As Reported	1.0	%	(7.4	)%	(1.2	)%	(4.4	)%
U.S.	10.9	%	(0.6	)%	7.1	%	2.9	%
International	(5.8	)%	(14.9	)%	(8.6	)%	(11.5	)%

WW Currency	(5.4	)	(4.9	)	(6.1	)	(5.3	)
U.S.	-		-		-		-
International	(9.0	)	(10.4	)	(11.5	)	(10.4	)

WW Operational	6.4	%	(2.5	)%	4.9	%	0.9	%
U.S.	10.9	%	(0.6	)%	7.1	%	2.9	%
International	3.2	%	(4.5	)%	2.9	%	(1.1	)%

Interventional Solutions
Abiomed					(0.5	)	(0.1	)
U.S.					(1.0	)	(0.3	)
International					0.0		0.0

All Other Acquisitions and Divestitures	0.0		0.2		0.0		0.1
U.S.	0.1		0.2		(0.2	)	0.1
International	0.0		0.1		0.1		0.1

WW Adjusted Operational	6.4	%	(2.3	)%	4.4	%	0.8	%
U.S.	11.0	%	(0.4	)%	5.9	%	2.7	%
International	3.2	%	(4.4	)%	3.0	%	(1.0	)%

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)
	FOURTH QUARTER										TWELVE MONTHS
					% Change									% Change
		2022		2021	Reported		Operational ⁽¹⁾		Currency		2022		2021	Reported		Operational ⁽¹⁾		Currency
CONSUMER HEALTH SEGMENT ^(2,3)
OTC
US		$	754	633	18.9	%	18.9	%	-		$	2,782	2,594	7.3	%	7.3	%	-
Intl			815	811	0.6	%	9.6	%	-9.0	%		3,249	3,034	7.1	%	14.5	%	-7.4	%
WW			1,569	1,444	8.6	%	13.7	%	-5.1	%		6,031	5,627	7.2	%	11.2	%	-4.0	%
SKIN HEALTH / BEAUTY
US			573	538	6.5	%	6.5	%	-			2,337	2,400	-2.6	%	-2.6	%	-
Intl			515	546	-5.6	%	4.4	%	-10.0	%		2,015	2,141	-5.9	%	2.2	%	-8.1	%
WW			1,088	1,084	0.4	%	5.4	%	-5.0	%		4,352	4,541	-4.2	%	-0.4	%	-3.8	%
ORAL CARE
US			164	159	3.3	%	3.3	%	-			635	637	-0.3	%	-0.3	%	-
Intl			207	246	-16.0	%	-8.1	%	-7.9	%		871	1,008	-13.6	%	-7.4	%	-6.2	%
WW			370	405	-8.4	%	-3.7	%	-4.7	%		1,505	1,645	-8.5	%	-4.7	%	-3.8	%
BABY CARE
US			93	90	3.4	%	3.4	%	-			357	378	-5.5	%	-5.5	%	-
Intl			264	309	-14.6	%	-7.4	%	-7.2	%		1,104	1,188	-7.1	%	-1.4	%	-5.7	%
WW			356	399	-10.6	%	-5.0	%	-5.6	%		1,461	1,566	-6.7	%	-2.4	%	-4.3	%
WOMEN'S HEALTH
US			4	4	15.6	%	15.6	%	-			13	13	1.7	%	1.7	%	-
Intl			217	230	-5.7	%	4.4	%	-10.1	%		891	905	-1.5	%	7.1	%	-8.6	%
WW			220	233	-5.5	%	4.6	%	-10.1	%		904	917	-1.5	%	7.0	%	-8.5	%
WOUND CARE / OTHER
US			109	106	3.3	%	3.3	%	-			475	495	-4.0	%	-4.0	%	-
Intl			54	57	-7.5	%	2.9	%	-10.4	%		224	243	-8.0	%	-3.4	%	-4.6	%
WW			163	164	-0.5	%	3.1	%	-3.6	%		700	739	-5.3	%	-3.8	%	-1.5	%

TOTAL CONSUMER HEALTH
US			1,696	1,529	10.9	%	10.9	%	-			6,599	6,516	1.3	%	1.3	%	-
Intl			2,071	2,199	-5.8	%	3.2	%	-9.0	%		8,354	8,519	-1.9	%	5.3	%	-7.2	%
WW		$	3,767	3,728	1.0	%	6.4	%	-5.4	%	$	14,953	15,035	-0.5	%	3.6	%	-4.1	%


See footnotes at end of schedule

Supplemental Sales Reconciliation (Unaudited)
(Dollars in Millions)

	FOURTH QUARTER										TWELVE MONTHS
				Percent Change										Percent Change
	2022		2021	Total			Operations		Currency		2022		2021	Total			Operations		Currency

Pharmaceutical
U.S.	$	7,375	7,418	(0.6	)	%	(0.6	)	-		$	28,604	27,954	2.3		%	2.3		-
International		5,788	6,799	(14.9	)		(4.5	)	(10.4	)		23,959	23,726	1.0			11.9		(10.9	)
Worldwide		13,163	14,217	(7.4	)		(2.5	)	(4.9	)		52,563	51,680	1.7			6.7		(5.0	)

COVID-19 Vaccine
U.S.		0	213	*			*		-			120	634	(81.1	)		(81.1	)	-
International		689	1,405	(50.9	)		(45.0	)	(5.9	)		2,059	1,751	17.6			32.1		(14.5	)
Worldwide		689	1,619	(57.4	)		(52.2	)	(5.2	)		2,179	2,385	(8.6	)		2.0		(10.6	)

Pharmaceutical excluding COVID-19 Vaccine
U.S.		7,375	7,205	2.4			2.4		-			28,484	27,320	4.3			4.3		-
International		5,099	5,394	(5.5	)		6.0		(11.5	)		21,900	21,975	(0.3	)		10.3		(10.6	)
Worldwide		12,474	12,599	(1.0	)		3.9		(4.9	)		50,384	49,295	2.2			6.9		(4.7	)

Worldwide
U.S.		12,516	12,163	2.9			2.9		-			48,580	47,156	3.0			3.0		-
International		11,190	12,641	(11.5	)		(1.1	)	(10.4	)		46,363	46,619	(0.6	)		9.1		(9.7	)
Worldwide		23,706	24,804	(4.4	)		0.9		(5.3	)		94,943	93,775	1.3			6.1		(4.8	)

COVID-19 Vaccine
U.S.		0	213	*			*		-			120	634	(81.1	)		(81.1	)	-
International		689	1,405	(50.9	)		(45.0	)	(5.9	)		2,059	1,751	17.6			32.1		(14.5	)
Worldwide		689	1,619	(57.4	)		(52.2	)	(5.2	)		2,179	2,385	(8.6	)		2.0		(10.6	)

Worldwide
U.S.		12,516	11,950	4.7			4.7		-			48,460	46,522	4.2			4.2		-
International		10,501	11,236	(6.5	)		4.4		(10.9	)		44,304	44,868	(1.3	)		8.2		(9.5	)
Worldwide excluding COVID-19 Vaccine	$	23,017	23,186	(0.7	)	%	4.6		(5.3	)	$	92,764	91,390	1.5		%	6.2		(4.7	)

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
Q4 QTD - Income Before Tax by Segment*
Dollars in Millions

	Consumer Health ¹				Pharmaceutical ¹				MedTech				Unallocated				Consumer Health Separation Costs				Worldwide Total
	2022		2021		2022		2021		2022		2021		2022		2021		2022		2021		2022		2021

Reported Income Before Tax by Segment$	651		442		3,308		4,306		865		575		(153	)	(420	)	(470	)	(67	)	4,201		4,836
*% to Sales*	*17.3*	%	*11.9*	%	*25.1*	%	*30.3*	%	*12.8*	%	*8.4*	%	*-0.6*	%	*-1.7*	%	*-2.0*	%	*-0.3*	%	*17.7*	%	*19.5*	%

Intangible asset amortization expense	84		100		717		761		260		260		-		-		-		-		1,061		1,121

In-process research and development	-		-		173		-		-		-		-		-		-		-		173		-

Litigation related	72		122		61		(35	)	129		187		-		-		-		-		262		274

Loss/(gain) on securities	-		1		23		(237	)	(17	)	38		-		-		-		-		6		(198	)

Restructuring related	21		28		31		22		88		90		-		-		-		-		140		140

Acquisition, integration and divestiture related	-		-		(104	)	5		300		21		-		-		-		-		196		26

Medical Device Regulation	-		-		-		-		88		73		-		-		-		-		88		73

COVID-19 Vaccine related costs	-		-		821		-		-		-		-		-		-		-		821		-

Consumer Health separation costs	-		-		-		-		-		-		-		-		470		67		470		67

Other	-		-		-		-		-		-		-		-		-		-		-		-

Adjusted Income Before Tax by Segment$	828		693		5,030		4,822		1,713		1,244		(153	)	(420	)	-		-		7,418		6,339
*% to Sales*	*22.0*	%	*18.6*	%	*38.2*	%	*33.9*	%	*25.3*	%	*18.1*	%	*-0.6*	%	*-1.7*	%	*0.0*	%	*0.0*	%	*31.3*	%	*25.6*	%



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 1/24/2023

Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Q4 YTD - Income Before Tax by Segment*
Dollars in Millions
																	Consumer Health Separation Costs
	Consumer Health ¹				Pharmaceutical ¹				MedTech				Unallocated				Consumer Health Separation Costs				Worldwide Total
	2022		2021		2022		2021		2022		2021		2022		2021		2022		2021		2022		2021

Reported Income Before Tax by Segment$	2,930		1,573		15,901		17,969		4,607		4,373		(624	)	(1,072	)	(1,089	)	(67	)	21,725		22,776
*% to Sales*	*19.6*	%	*10.5*	%	*30.3*	%	*34.8*	%	*16.8*	%	*16.2*	%	*-0.7*	%	*-1.1*	%	*-1.1*	%	*-0.1*	%	*22.9*	%	*24.3*	%

Intangible asset amortization expense	361		414		2,911		3,258		1,033		1,025		-		-		-		-		4,305		4,697

In-process research and development	-		-		783		-		-		900		-		-		-		-		783		900

Litigation related	150		1,603		104		640		612		85		-		-		-		-		866		2,328

Loss/(gain) on securities	-		(18	)	696		(486	)	(6	)	(29	)	-		-		-		-		690		(533	)

Restructuring related	91		119		63		76		309		278		-		-		-		-		463		473

Acquisition, integration and divestiture related	-		-		(104	)	(562	)	300		84		-		-		-		-		196		(478	)

Medical Device Regulation	-		-		-		-		296		234		-		-		-		-		296		234

COVID-19 Vaccine related costs	-		-		1,474		-		-		-		-		-		-		-		1,474		-

Consumer Health separation costs	-				-		-		-		-		-		-		1,089		67		1,089		67

Other	-		-		-		-		-		-		(7	)	-		-		-		(7	)	-

Adjusted Income Before Tax by Segment$	3,532		3,691		21,828		20,895		7,151		6,950		(631	)	(1,072	)	-		-		31,880		30,464
*% to Sales*	*23.6*	%	*24.5*	%	*41.5*	%	*40.4*	%	*26.1*	%	*25.7*	%	*-0.7*	%	*-1.1*	%	*0.0*	%	*0.0*	%	*33.6*	%	*32.5*	%



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 1/24/2023

Johnson & Johnson and Subsidiaries
GAAP to Non-GAAP Reconciliation
$ in Millions

Quarter to Date
																					Consumer Health separation tax related costs
	Fourth Quarter						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				Fourth Quarter
	Jan 1, 2023 GAAP		Intangible asset amortization		Litigation related		In-process research and development		Restructuring related		Acquisition, integration and divestiture related (1)		(Loss)/gain on securities		Medical Device Regulation		COVID-19 Vaccine Related Costs		Consumer Health separation costs				Tax legislation and other tax related		Other		Jan 1, 2023 Non-GAAP
Cost of products sold	$	7,765	(1,060	)					(36	)					(33	)	(160	)	(4	)	-		-		-		6,472
Selling, marketing and admin expenses		6,512													(9	)	-		(43	)							6,460
Research and development expense		3,841									-				(46	)	(114	)	-								3,681
Other (Income) / Expense		1,207	(1	)	(262	)			(20	)	(196	)	(6	)			(547	)	(423	)	-				-		(248	)
In-process research and development		173					(173	)																			-
Restructuring		84							(84	)																	-
Provision for taxes on income		681	165		(36	)	40		21		5		2		17		199		94		(35	)	47		-		1,200
Net Earnings		3,520	896		298		133		119		191		4		71		622		376		35		(47	)	-		6,218

																					Consumer Health separation tax related costs
	Fourth Quarter						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				Fourth Quarter
	Jan 2, 2022 GAAP		Intangible asset amortization		Litigation related		In-process research and development		Restructuring related		Acquisition, integration and divestiture related		(Loss)/gain on securities		Medical Device Regulation		COVID-19 Vaccine Related Costs		Consumer Health separation costs				Tax legislation and other tax related		Other		Jan 2, 2022 Non-GAAP
Cost of products sold	$	7,955	(1,111	)					(21	)					(26	)											6,797
Selling, marketing and admin expenses		7,154													(7	)											7,147
Research and development expense		4,720									-				(40	)											4,680
Other (Income) / Expense		9	(10	)	(274	)			(36	)	(26	)	198				-		(67	)	-				-		(206	)
In-process research and development		-					-																				-
Restructuring		83							(83	)																	-
Provision for taxes on income		100	162		49		-		27		6		(89	)	14		-		15		-		377		-		661
Net Earnings		4,736	959		225		-		113		20		(109	)	59		-		52		-		(377	)	-		5,678

Year to Date
																					Consumer Health separation tax related costs
	Twelve Months						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				Twelve Months
	Jan 1, 2023 GAAP		Intangible asset amortization		Litigation related		In-process research and development		Restructuring related		Acquisition, integration and divestiture related (1)		(Loss)/gain on securities		Medical Device Regulation		COVID-19 Vaccine Related Costs		Consumer Health separation costs				Tax legislation and other tax related		Other		Jan 1, 2023 Non-GAAP
Cost of products sold	$	31,089	(4,292	)					(82	)					(109	)	(456	)	(4	)							26,146
Selling, marketing and admin expenses		24,765													(28	)			(45	)							24,692
Research and development expense		14,603									-				(159	)	(304	)									14,140
Other (Income) / Expense		1,871	(13	)	(866	)			(60	)	(196	)	(690	)			(714	)	(1,040	)	-				7		(1,701	)
In-process research and development		783					(783	)			-		-														-
Restructuring		321							(321	)																	-
Provision for taxes on income		3,784	667		(125	)	178		81		5		166		56		360		206		(494	)	(40	)	(2	)	4,842
Net Earnings		17,941	3,638		991		605		382		191		524		240		1,114		883		494		40		(5	)	27,038

																					Consumer Health separation tax related costs
	Twelve Months						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				Twelve Months
	Jan 2, 2022 GAAP		Intangible asset amortization		Litigation related		In-process research and development		Restructuring related		Acquisition, integration and divestiture related (1)		(Loss)/gain on securities		Medical Device Regulation		COVID-19 Vaccine Related Costs		Consumer Health separation costs				Tax legislation and other tax related		Other		Jan 2, 2022 Non-GAAP
Cost of products sold	$	29,855	(4,661	)					(86	)					(85	)											25,023
Selling, marketing and admin expenses		24,659													(24	)											24,635
Research and development expense		14,714									-				(125	)											14,589
Other (Income) / Expense		489	(36	)	(2,328	)			(135	)	478		533				-		(67	)	-				-		(1,066	)
In-process research and development		900					(900	)																			-
Restructuring		252							(252	)																	-
Provision for taxes on income		1,898	667		481		202		86		(98	)	(116	)	44		-		15		-		1,090		-		4,269
Net Earnings		20,878	4,030		1,847		698		387		(380	)	(417	)	190		-		52		-		(1,090	)	-		26,195


(1) 2022 primarily includes costs related to the Abiomed acquisition. 2021 primarily includes gains on the divestitures of two Pharmaceutical brands outside of the United States.