NEW BRUNSWICK, N.J.,
Oct. 15, 2019 /PRNewswire/ -- Johnson
& Johnson (NYSE: JNJ) today announced results for third-quarter
2019. "Our third-quarter results represent strong performance,
driven by competitive underlying growth in Pharmaceuticals and
Medical Devices, as well as continued optimization in our Consumer
business," said Alex Gorsky,
Chairman and Chief Executive Officer. "As we look ahead, we remain
confident in the strength of our broad-based business model, which
is fueled by our disciplined portfolio management, focus on
transformational innovation and dedicated employees around the
world who position us for success today and well into the
future."
OVERALL FINANCIAL RESULTS:
|
THIRD
QUARTER
|
|
($ in Millions,
except EPS)
|
2019
|
2018
|
%
Change
|
Reported
Sales
|
$ 20,729
|
$ 20,348
|
1.9%
|
Net
Earnings
|
4,833
|
3,934
|
22.9
|
EPS
(diluted)
|
$ 1.81
|
$ 1.44
|
25.7
|
|
|
|
|
Non-GAAP*
|
THIRD
QUARTER
|
|
($ in Millions,
except EPS)
|
2019
|
2018
|
%
Change
|
Operational
Sales1,2
|
n/a
|
n/a
|
3.2%
|
Adjusted
Operational Sales1,3
|
n/a
|
n/a
|
5.2
|
Adjusted Net
Earnings1,4
|
5,672
|
5,590
|
1.5
|
Adjusted EPS
(diluted)1,4
|
$ 2.12
|
$ 2.05
|
3.4
|
1 Non-GAAP financial
measure; refer to reconciliations of non-GAAP financial measures
included in accompanying schedules
|
2 Excludes
the impact of translational currency
|
3 Excludes
the net impact of acquisitions and divestitures and translational
currency
|
4 Excludes
intangible amortization expense and special items
|
REGIONAL SALES RESULTS:
|
THIRD
QUARTER
|
%
Change
|
($ in Millions)
|
2019
|
2018
|
Reported
|
Operational1,2
|
Currency
|
Adjusted
Operational1,3
|
U.S.
|
$ 10,791
|
$ 10,664
|
1.2%
|
1.2
|
-
|
3.4
|
International
|
9,938
|
9,684
|
2.6
|
5.4
|
(2.8)
|
7.3
|
Worldwide
|
$ 20,729
|
$ 20,348
|
1.9%
|
3.2
|
(1.3)
|
5.2
|
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:
|
THIRD
QUARTER
|
%
Change
|
($ in Millions)
|
2019
|
2018
|
Reported
|
Operational1,2
|
Currency
|
Adjusted
Operational1,3
|
Consumer
|
$ 3,469
|
$ 3,415
|
1.6%
|
3.3
|
(1.7)
|
1.3
|
Pharmaceuticals
|
10,877
|
10,346
|
5.1
|
6.4
|
(1.3)
|
6.4
|
Medical
Devices
|
6,383
|
6,587
|
(3.1)
|
(2.0)
|
(1.1)
|
5.3
|
Worldwide
|
$ 20,729
|
$ 20,348
|
1.9%
|
3.2
|
(1.3)
|
5.2
|
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 COMMENTARY:
Consumer
Consumer worldwide operational sales,
excluding the net impact of acquisitions and divestitures, grew
1.3%* driven by NEUTROGENA beauty products and over-the-counter
products including TYLENOL analgesics, international upper
respiratory products and digestive health products, partially
offset by lower sales of baby care products due to prior year U.S.
re-launch activities.
Pharmaceutical
Pharmaceutical worldwide operational
sales, excluding the net impact of acquisitions and divestitures,
grew 6.4%* driven by STELARA (ustekinumab), a biologic for the
treatment of a number of immune-mediated inflammatory diseases,
DARZALEX (daratumumab), for the treatment of multiple myeloma,
IMBRUVICA (ibrutinib), an oral, once-daily therapy approved for use
in treating certain B-cell malignancies, a type of blood or lymph
node cancer, TREMFYA (guselkumab), a biologic for the treatment of
adults living with moderate to severe plaque psoriasis, INVEGA
SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate),
long-acting, injectable atypical antipsychotics for the treatment
of schizophrenia in adults, SIMPONI/SIMPONI ARIA (golimumab),
biologics 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, UPTRAVI (selexipag), an oral prostacyclin receptor
agonist used to treat pulmonary arterial hypertension and reduce
hospitalization and OPSUMIT (macitentan), an oral endothelin
receptor antagonist indicated for the treatment of pulmonary
arterial hypertension to delay disease progression, partially
offset by biosimilar and generic competition, primarily declines in
REMICADE (infliximab), a biologic approved for the treatment of a
number of immune-mediated inflammatory diseases, 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 and international VELCADE
(bortezomib), a proteasome inhibitor for the treatment of multiple
myeloma.
Medical Devices
Worldwide Medical Devices operational
sales, excluding the net impact of acquisitions and divestitures
grew 5.3%* driven by the growth of electrophysiology products in
the Interventional Solutions business, ACUVUE contact lenses in the
Vision business, international energy products in the Advanced
Surgery business, wound closure products in the General Surgery
business and trauma products in the Orthopaedics business.
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.
Pipeline Updates
Regulatory
Approvals
|
XARELTO (rivaroxaban)
- U.S. FDA Approves to Help Prevent Blood Clots in Acutely Ill
Medical Patients (U.S.)1
|
(press
release)
|
INVOKANA
(canagliflozin) - U.S. FDA Approves for Treatment of Diabetic
Kidney Disease (U.S.)1
|
(press
release)
|
DARZALEX
(daratumumab) - U.S. FDA Approves Combination Regimen for Newly
Diagnosed, Transplant-eligible Patients with Multiple Myeloma
(U.S.)
|
(press
release)
|
ERLEADA (apalutamide)
- U.S. FDA Approves Supplemental New Drug Application for the
Treatment of Metastatic Castration-Sensitive Prostate Cancer
(U.S.)
|
(press
release)
|
STELARA (ustekinumab)
- EU Commission Approves Extended Use for the Treatment of
Moderately to Severely Active Ulcerative Colitis (EU)
|
(press
release)
|
IMBRUVICA (ibrutinib)
- EU Commission Approves Expanded Use in Combination with
Obinutuzumab in Adult Patients with Previously Untreated Chronic
Lymphocytic Leukemia and in Combination with Rituximab in
Waldenström's Macroglobulinemia (EU)
|
(press
release)
|
Regulatory
Submissions
|
SPRAVATO (esketamine)
CIII Nasal Spray - Janssen Submits Supplemental New Drug
Application to U.S. FDA for the Rapid Reduction of Depressive
Symptoms in Adults with Major Depressive Disorder Who Have Active
Suicidal Ideation with Intent (U.S.)1
|
(press
release)
|
STELARA (ustekinumab)
- Janssen Submits Application to U.S. FDA for Treatment of
Pediatric Patients with Moderate to Severe Plaque Psoriasis
(U.S.)1
|
(press
release)
|
TREMFYA (guselkumab)
- Janssen Submits Application to U.S. FDA for Treatment of Adults
with Active Psoriatic Arthritis (U.S.)
|
(press
release)
|
Rilpivirine and
Cabotegravir - Janssen Submits Application to EMA for Monthly,
Injectable, Two Drug Regimen for Treatment of HIV (EU)
|
(press
release)
|
DARZALEX
(daratumumab) - Janssen Submits Application to EMA for Novel
Subcutaneous Formulation (EU)
|
(press
release)
|
Other
|
Niraparib -
Breakthrough Therapy Designation for the Treatment of Metastatic
Castration-Resistant Prostate Cancer (U.S.)1
|
(press
release)
|
Launch of ECHELON
CIRCULAR, the Industry's First Powered Circular Stapler
|
(press
release)
|
Launch of ATTUNE
Cementless Knee in a Rotating Platform Option
|
(press
release)
|
Investigational
Prophylactic Vaccine - Breakthrough Therapy Designation for
Prevention of Respiratory Syncytial Virus in Older Adults
(U.S.)
|
(press
release)
|
1
Subsequent to the quarter
|
FULL YEAR 2019 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)
|
October
2019
|
July
2019
|
Adjusted Operational
Sales1,2
Change vs. Prior
Year
|
4.5% -
5.0%
|
3.2% -
3.7%
|
Operational
Sales2
Change vs. Prior
Year
|
$83.7 to
$84.2
2.5% -
3.0%
|
$82.4 to
$83.2
1.0% -
2.0%
|
Estimated Reported
Sales3
Change vs. Prior
Year
|
$81.8 to
$82.3
0.2% -
0.7%
|
$80.8 to
$81.6
(1.0%) -
0.0%
|
|
|
|
Adjusted Operational
EPS (Diluted)2,4
Change vs. Prior
Year
|
$8.84 to
$8.89
8.1% -
8.7%
|
$8.73 to
$8.83
6.7% -
7.9%
|
Adjusted EPS
(Diluted)3,4
Change vs. Prior
Year
|
$8.62 to
$8.67
5.4% -
6.0%
|
$8.53 to
$8.63
4.3% -
5.5%
|
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: October 2019 = $1.12; Euro
Average Rate: July 2019 = $1.12 (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: 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 December 30, 2018,
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)
|
THIRD
QUARTER
|
|
NINE
MONTHS
|
|
|
|
|
|
Percent
Change
|
|
|
|
|
|
Percent
Change
|
|
2019
|
|
2018
|
|
Total
|
|
Operations
|
|
Currency
|
|
2019
|
|
2018
|
|
Total
|
|
Operations
|
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
segment of
business
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
$
1,394
|
|
1,370
|
|
1.7
|
%
|
1.7
|
|
-
|
|
$
4,369
|
|
4,282
|
|
2.0
|
%
|
2.0
|
|
-
|
International
|
2,075
|
|
2,045
|
|
1.4
|
|
4.3
|
|
(2.9)
|
|
5,962
|
|
6,035
|
|
(1.2)
|
|
4.3
|
|
(5.5)
|
|
3,469
|
|
3,415
|
|
1.6
|
|
3.3
|
|
(1.7)
|
|
10,331
|
|
10,317
|
|
0.1
|
|
3.4
|
|
(3.3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceutical
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
6,340
|
|
6,097
|
|
4.0
|
|
4.0
|
|
-
|
|
17,705
|
|
17,350
|
|
2.0
|
|
2.0
|
|
-
|
International
|
4,537
|
|
4,249
|
|
6.8
|
|
10.0
|
|
(3.2)
|
|
13,945
|
|
13,194
|
|
5.7
|
|
11.7
|
|
(6.0)
|
|
10,877
|
|
10,346
|
|
5.1
|
|
6.4
|
|
(1.3)
|
|
31,650
|
|
30,544
|
|
3.6
|
|
6.2
|
|
(2.6)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Medical
Devices
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
3,057
|
|
3,197
|
|
(4.4)
|
|
(4.4)
|
|
-
|
|
9,249
|
|
9,623
|
|
(3.9)
|
|
(3.9)
|
|
-
|
International
|
3,326
|
|
3,390
|
|
(1.9)
|
|
0.3
|
|
(2.2)
|
|
10,082
|
|
10,703
|
|
(5.8)
|
|
(1.0)
|
|
(4.8)
|
|
6,383
|
|
6,587
|
|
(3.1)
|
|
(2.0)
|
|
(1.1)
|
|
19,331
|
|
20,326
|
|
(4.9)
|
|
(2.4)
|
|
(2.5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
10,791
|
|
10,664
|
|
1.2
|
|
1.2
|
|
-
|
|
31,323
|
|
31,255
|
|
0.2
|
|
0.2
|
|
-
|
International
|
9,938
|
|
9,684
|
|
2.6
|
|
5.4
|
|
(2.8)
|
|
29,989
|
|
29,932
|
|
0.2
|
|
5.7
|
|
(5.5)
|
Worldwide
|
$
20,729
|
|
20,348
|
|
1.9
|
%
|
3.2
|
|
(1.3)
|
|
$
61,312
|
|
61,187
|
|
0.2
|
%
|
2.9
|
|
(2.7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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)
|
THIRD
QUARTER
|
|
NINE
MONTHS
|
|
|
|
|
|
Percent
Change
|
|
|
|
|
|
Percent
Change
|
|
2019
|
|
2018
|
|
Total
|
|
Operations
|
|
Currency
|
|
2019
|
|
2018
|
|
Total
|
|
Operations
|
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
geographic
area
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
$
10,791
|
|
10,664
|
|
1.2
|
%
|
1.2
|
|
-
|
|
$
31,323
|
|
31,255
|
|
0.2
|
%
|
0.2
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Europe
|
4,461
|
|
4,416
|
|
1.0
|
|
5.2
|
|
(4.2)
|
|
13,803
|
|
14,023
|
|
(1.6)
|
|
4.8
|
|
(6.4)
|
Western Hemisphere
excluding U.S.
|
1,488
|
|
1,550
|
|
(4.0)
|
|
1.0
|
|
(5.0)
|
|
4,446
|
|
4,657
|
|
(4.5)
|
|
4.6
|
|
(9.1)
|
Asia-Pacific,
Africa
|
3,989
|
|
3,718
|
|
7.3
|
|
7.5
|
|
(0.2)
|
|
11,740
|
|
11,252
|
|
4.3
|
|
7.2
|
|
(2.9)
|
International
|
9,938
|
|
9,684
|
|
2.6
|
|
5.4
|
|
(2.8)
|
|
29,989
|
|
29,932
|
|
0.2
|
|
5.7
|
|
(5.5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Worldwide
|
$
20,729
|
|
20,348
|
|
1.9
|
%
|
3.2
|
|
(1.3)
|
|
$
61,312
|
|
61,187
|
|
0.2
|
%
|
2.9
|
|
(2.7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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)
|
THIRD
QUARTER
|
|
|
|
|
|
|
|
|
|
|
|
2019
|
|
2018
|
|
Percent
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
Sales to
customers
|
$
20,729
|
|
100.0
|
|
$
20,348
|
|
100.0
|
|
1.9
|
Cost of products
sold
|
6,867
|
|
33.1
|
|
6,589
|
|
32.4
|
|
4.2
|
Gross
Profit
|
13,862
|
|
66.9
|
|
13,759
|
|
67.6
|
|
0.7
|
Selling, marketing
and administrative expenses
|
5,374
|
|
26.0
|
|
5,543
|
|
27.3
|
|
(3.0)
|
Research and
development expense
|
2,599
|
|
12.5
|
|
2,508
|
|
12.3
|
|
3.6
|
In-process
research and development
|
-
|
|
-
|
|
1,126
|
|
5.6
|
|
|
Interest (income)
expense, net
|
(41)
|
|
(0.2)
|
|
68
|
|
0.3
|
|
|
Other (income)
expense, net
|
214
|
|
1.0
|
|
3
|
|
0.0
|
|
|
Restructuring
|
69
|
|
0.4
|
|
88
|
|
0.4
|
|
|
Earnings before
provision for taxes on income
|
5,647
|
|
27.2
|
|
4,423
|
|
21.7
|
|
27.7
|
Provision for
taxes on income
|
814
|
|
3.9
|
|
489
|
|
2.4
|
|
66.5
|
Net
earnings
|
$
4,833
|
|
23.3
|
|
$
3,934
|
|
19.3
|
|
22.9
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share (Diluted)
|
$
1.81
|
|
|
|
$
1.44
|
|
|
|
25.7
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Diluted)
|
2,669.9
|
|
|
|
2,727.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
14.4
|
%
|
|
|
11.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net earnings (1)
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income
|
$
7,116
|
|
34.3
|
|
$
6,780
|
|
33.3
|
|
5.0
|
Net
earnings
|
$
5,672
|
|
27.4
|
|
$
5,590
|
|
27.5
|
|
1.5
|
Net earnings per
share (Diluted)
|
$
2.12
|
|
|
|
$
2.05
|
|
|
|
3.4
|
Effective tax
rate
|
20.3
|
%
|
|
|
17.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) See
Reconciliation of Non-GAAP Financial Measures.
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statement of Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; in
Millions Except Per Share Figures)
|
NINE
MONTHS
|
|
|
|
|
|
|
|
|
|
|
|
2019
|
|
2018
|
|
Percent
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
Sales to
customers
|
$
61,312
|
|
100.0
|
|
$
61,187
|
|
100.0
|
|
0.2
|
Cost of products
sold
|
20,422
|
|
33.3
|
|
20,130
|
|
32.9
|
|
1.5
|
Gross
Profit
|
40,890
|
|
66.7
|
|
41,057
|
|
67.1
|
|
(0.4)
|
Selling, marketing
and administrative expenses
|
16,139
|
|
26.3
|
|
16,549
|
|
27.1
|
|
(2.5)
|
Research and
development expense
|
8,123
|
|
13.3
|
|
7,551
|
|
12.3
|
|
7.6
|
In-process
research and development
|
890
|
|
1.4
|
|
1,126
|
|
1.8
|
|
|
Interest (income)
expense, net
|
(43)
|
|
(0.1)
|
|
340
|
|
0.6
|
|
|
Other (income)
expense, net
|
(1,491)
|
|
(2.4)
|
|
427
|
|
0.7
|
|
|
Restructuring
|
162
|
|
0.3
|
|
187
|
|
0.3
|
|
|
Earnings before
provision for taxes on income
|
17,110
|
|
27.9
|
|
14,877
|
|
24.3
|
|
15.0
|
Provision for
taxes on income
|
2,921
|
|
4.8
|
|
2,622
|
|
4.3
|
|
11.4
|
Net
earnings
|
$
14,189
|
|
23.1
|
|
$
12,255
|
|
20.0
|
|
15.8
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share (Diluted)
|
$
5.28
|
|
|
|
$
4.49
|
|
|
|
17.6
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Diluted)
|
2,688.1
|
|
|
|
2,729.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
17.1
|
%
|
|
|
17.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net earnings (1)
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income
|
$
22,597
|
|
36.9
|
|
$
20,652
|
|
33.8
|
|
9.4
|
Net
earnings
|
$
18,283
|
|
29.8
|
|
$
16,943
|
|
27.7
|
|
7.9
|
Net earnings per
share (Diluted)
|
$
6.80
|
|
|
|
$
6.21
|
|
|
|
9.5
|
Effective tax
rate
|
19.1
|
%
|
|
|
18.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) See
Reconciliation of Non-GAAP Financial Measures.
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Third
Quarter
|
|
% Incr. /
|
|
|
Nine Months
YTD
|
|
% Incr. /
|
|
(Dollars in
Millions Except Per Share Data)
|
2019
|
|
2018
|
|
(Decr.)
|
|
|
2019
|
|
2018
|
|
(Decr.)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income - as reported
|
$ 5,647
|
|
4,423
|
|
27.7
|
%
|
|
$ 17,110
|
|
14,877
|
|
15.0
|
%
|
Intangible asset
amortization expense
|
1,138
|
|
1,085
|
|
|
|
|
3,386
|
|
3,284
|
|
|
|
In-process research
and development
|
-
|
|
1,126
|
|
|
|
|
890
|
|
1,126
|
|
|
|
Litigation expense,
net
|
-
|
|
-
|
|
|
|
|
832
|
|
703
|
|
|
|
Restructuring/Other
(1)
|
128
|
|
190
|
|
|
|
|
360
|
|
473
|
|
|
|
Actelion acquisition
related cost
|
33
|
|
40
|
|
|
|
|
123
|
|
200
|
|
|
|
Auris Health
acquisition related cost
|
65
|
|
-
|
|
|
|
|
56
|
|
-
|
|
|
|
AMO acquisition
related cost
|
9
|
|
36
|
|
|
|
|
50
|
|
82
|
|
|
|
Unrealized
loss/(gain) on securities
|
89
|
|
9
|
|
|
|
|
(217)
|
|
(3)
|
|
|
|
Contingent liability
reversal
|
-
|
|
(184)
|
|
|
|
|
-
|
|
(184)
|
|
|
|
Diabetes asset
impairment
|
-
|
|
-
|
|
|
|
|
-
|
|
4
|
|
|
|
Other
|
7
|
|
55
|
|
|
|
|
7
|
|
90
|
|
|
|
Earnings before
provision for taxes on income - as adjusted
|
$ 7,116
|
|
6,780
|
|
5.0
|
%
|
|
$ 22,597
|
|
20,652
|
|
9.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Earnings - as
reported
|
$ 4,833
|
|
3,934
|
|
22.9
|
%
|
|
$ 14,189
|
|
12,255
|
|
15.8
|
%
|
Intangible asset
amortization expense
|
1,011
|
|
968
|
|
|
|
|
2,836
|
|
2,931
|
|
|
|
In-process research
and development
|
-
|
|
859
|
|
|
|
|
703
|
|
859
|
|
|
|
Litigation expense,
net
|
-
|
|
-
|
|
|
|
|
684
|
|
609
|
|
|
|
Restructuring/Other
|
106
|
|
162
|
|
|
|
|
297
|
|
395
|
|
|
|
Actelion acquisition
related cost
|
30
|
|
37
|
|
|
|
|
114
|
|
193
|
|
|
|
Auris Health
acquisition related cost
|
51
|
|
-
|
|
|
|
|
44
|
|
-
|
|
|
|
AMO acquisition
related cost
|
7
|
|
29
|
|
|
|
|
40
|
|
68
|
|
|
|
Unrealized
loss/(gain) on securities
|
71
|
|
8
|
|
|
|
|
(171)
|
|
(2)
|
|
|
|
Contingent liability
reversal
|
-
|
|
(184)
|
|
|
|
|
-
|
|
(184)
|
|
|
|
Diabetes asset
impairment
|
-
|
|
-
|
|
|
|
|
-
|
|
3
|
|
|
|
Impact of tax
legislation (2)
|
(391)
|
|
(265)
|
|
|
|
|
(391)
|
|
(253)
|
|
|
|
Other
|
(46)
|
|
42
|
|
|
|
|
(62)
|
|
69
|
|
|
|
Net Earnings - as
adjusted
|
$ 5,672
|
|
5,590
|
|
1.5
|
%
|
|
$ 18,283
|
|
16,943
|
|
7.9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Net Earnings
per share - as reported
|
$ 1.81
|
|
1.44
|
|
25.7
|
%
|
|
$ 5.28
|
|
4.49
|
|
17.6
|
%
|
Intangible asset
amortization expense
|
0.38
|
|
0.35
|
|
|
|
|
1.06
|
|
1.07
|
|
|
|
In-process research
and development
|
-
|
|
0.32
|
|
|
|
|
0.26
|
|
0.32
|
|
|
|
Litigation expense,
net
|
-
|
|
-
|
|
|
|
|
0.25
|
|
0.22
|
|
|
|
Restructuring/Other
|
0.04
|
|
0.06
|
|
|
|
|
0.11
|
|
0.15
|
|
|
|
Actelion acquisition
related cost
|
0.01
|
|
0.02
|
|
|
|
|
0.04
|
|
0.07
|
|
|
|
Auris Health
acquisition related cost
|
0.02
|
|
-
|
|
|
|
|
0.02
|
|
-
|
|
|
|
AMO acquisition
related cost
|
-
|
|
0.01
|
|
|
|
|
0.01
|
|
0.02
|
|
|
|
Unrealized
loss/(gain) on securities
|
0.03
|
|
-
|
|
|
|
|
(0.06)
|
|
-
|
|
|
|
Contingent liability
reversal
|
-
|
|
(0.07)
|
|
|
|
|
-
|
|
(0.07)
|
|
|
|
Diabetes asset
impairment
|
-
|
|
-
|
|
|
|
|
-
|
|
-
|
|
|
|
Impact of tax
legislation
|
(0.15)
|
|
(0.10)
|
|
|
|
|
(0.15)
|
|
(0.09)
|
|
|
|
Other
|
(0.02)
|
|
0.02
|
|
|
|
|
(0.02)
|
|
0.03
|
|
|
|
Diluted Net Earnings
per share - as adjusted
|
$ 2.12
|
|
2.05
|
|
3.4
|
%
|
|
$ 6.80
|
|
6.21
|
|
9.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Diluted
Net Earnings per share - as adjusted
|
|
|
|
|
|
|
|
|
|
|
|
|
|
at 2017 foreign
currency exchange rates
|
|
|
2.08
|
|
|
|
|
|
|
6.04
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impact of currency at
2018 foreign currency exchange rates
|
0.05
|
|
(0.03)
|
|
|
|
|
0.18
|
|
0.17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Diluted
Net Earnings per share - as adjusted
|
|
|
|
|
|
|
|
|
|
|
|
|
|
at 2018 foreign
currency exchange rates
|
$ 2.17
|
|
2.05
|
|
5.9
|
%
|
|
$ 6.98
|
|
6.21
|
|
12.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)Includes $20M recorded in cost of
products sold and $39M recorded in other (income) expense for the
third quarter 2019. Includes $81M recorded in cost of products
sold
|
|
|
and $117M recorded in
other (income) expense for nine months 2019 YTD. Includes $23M
recorded in cost of products sold and $79M recorded in other
(income) expense for the
|
|
third quarter 2018.
Includes $73M recorded in cost of products sold and $213M recorded
in other (income) expense for nine months 2018 YTD.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2)Includes foreign currency
translation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measure
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
Operational Sales Growth
|
THIRD QUARTER 2019
ACTUAL vs. 2018 ACTUAL
|
|
|
|
|
|
|
|
|
|
|
Segments
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
WW As
Reported
|
|
1.6%
|
|
5.1%
|
|
(3.1)%
|
|
1.9%
|
U.S.
|
|
1.7%
|
|
4.0%
|
|
(4.4)%
|
|
1.2%
|
International
|
|
1.4%
|
|
6.8%
|
|
(1.9)%
|
|
2.6%
|
|
|
|
|
|
|
|
|
|
WW
Currency
|
|
(1.7)
|
|
(1.3)
|
|
(1.1)
|
|
(1.3)
|
U.S.
|
|
-
|
|
-
|
|
-
|
|
-
|
International
|
|
(2.9)
|
|
(3.2)
|
|
(2.2)
|
|
(2.8)
|
|
|
|
|
|
|
|
|
|
WW
Operational
|
|
3.3%
|
|
6.4%
|
|
(2.0)%
|
|
3.2%
|
U.S.
|
|
1.7%
|
|
4.0%
|
|
(4.4)%
|
|
1.2%
|
International
|
|
4.3%
|
|
10.0%
|
|
0.3%
|
|
5.4%
|
|
|
|
|
|
|
|
|
|
OTC
|
|
|
|
|
|
|
|
|
Zarbees
|
|
(0.4)
|
|
|
|
|
|
(0.1)
|
U.S.
|
|
(1.0)
|
|
|
|
|
|
(0.1)
|
International
|
|
0.0
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
Diabetes
Care
|
|
|
|
|
|
|
|
|
LifeScan
|
|
|
|
|
|
5.1
|
|
1.6
|
U.S.
|
|
|
|
|
|
4.0
|
|
1.2
|
International
|
|
|
|
|
|
6.1
|
|
2.1
|
|
|
|
|
|
|
|
|
|
Beauty
|
|
|
|
|
|
|
|
|
RoC
|
|
0.5
|
|
|
|
|
|
0.1
|
U.S.
|
|
1.1
|
|
|
|
|
|
0.1
|
International
|
|
0.1
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
Beauty
|
|
|
|
|
|
|
|
|
Dr. Ci Labo -
Japan
|
|
(2.3)
|
|
|
|
|
|
(0.4)
|
U.S.
|
|
0.0
|
|
|
|
|
|
0.0
|
International
|
|
(3.9)
|
|
|
|
|
|
(0.8)
|
|
|
|
|
|
|
|
|
|
Specialty
Surgery
|
|
|
|
|
|
|
|
|
Advanced
Sterilization Products
|
|
|
|
|
|
2.1
|
|
0.7
|
U.S.
|
|
|
|
|
|
2.9
|
|
0.9
|
International
|
|
|
|
|
|
1.4
|
|
0.5
|
|
|
|
|
|
|
|
|
|
Baby
Care
|
|
|
|
|
|
|
|
|
BabyCenter
|
|
0.2
|
|
|
|
|
|
0.0
|
U.S.
|
|
0.5
|
|
|
|
|
|
0.1
|
International
|
|
0.0
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
0.0
|
|
0.0
|
|
0.0
|
|
0.0
|
U.S.
|
|
0.0
|
|
0.0
|
|
(0.1)
|
|
0.0
|
International
|
|
0.1
|
|
0.0
|
|
0.1
|
|
0.1
|
|
|
|
|
|
|
|
|
|
WW Adjusted
Operational
|
|
1.3%
|
|
6.4%
|
|
5.3%
|
|
5.2%
|
U.S.
|
|
2.4%
|
|
4.0%
|
|
2.5%
|
|
3.4%
|
International
|
|
0.6%
|
|
10.0%
|
|
8.0%
|
|
7.3%
|
|
|
|
|
|
|
|
|
|
Note:
Percentages are based on actual, non-rounded figures and may not
sum
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measure
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
Operational Sales Growth
|
NINE MONTHS 2019
ACTUAL vs. 2018 ACTUAL
|
|
|
|
|
|
|
|
|
|
|
Segments
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
WW As
Reported
|
|
0.1%
|
|
3.6%
|
|
(4.9)%
|
|
0.2%
|
U.S.
|
|
2.0%
|
|
2.0%
|
|
(3.9)%
|
|
0.2%
|
International
|
|
(1.2)%
|
|
5.7%
|
|
(5.8)%
|
|
0.2%
|
|
|
|
|
|
|
|
|
|
WW
Currency
|
|
(3.3)
|
|
(2.6)
|
|
(2.5)
|
|
(2.7)
|
U.S.
|
|
-
|
|
-
|
|
-
|
|
-
|
International
|
|
(5.5)
|
|
(6.0)
|
|
(4.8)
|
|
(5.5)
|
|
|
|
|
|
|
|
|
|
WW
Operational
|
|
3.4%
|
|
6.2%
|
|
(2.4)%
|
|
2.9%
|
U.S.
|
|
2.0%
|
|
2.0%
|
|
(3.9)%
|
|
0.2%
|
International
|
|
4.3%
|
|
11.7%
|
|
(1.0)%
|
|
5.7%
|
|
|
|
|
|
|
|
|
|
Beauty
|
|
|
|
|
|
|
|
|
Nizoral
|
|
0.3
|
|
|
|
|
|
0.1
|
U.S.
|
|
0.2
|
|
|
|
|
|
0.0
|
International
|
|
0.4
|
|
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
OTC
|
|
|
|
|
|
|
|
|
Zarbees
|
|
(0.6)
|
|
|
|
|
|
(0.1)
|
U.S.
|
|
(1.5)
|
|
|
|
|
|
(0.2)
|
International
|
|
0.0
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
Diabetes
Care
|
|
|
|
|
|
|
|
|
LifeScan
|
|
|
|
|
|
5.1
|
|
1.7
|
U.S.
|
|
|
|
|
|
4.0
|
|
1.2
|
International
|
|
|
|
|
|
6.1
|
|
2.2
|
|
|
|
|
|
|
|
|
|
Beauty
|
|
|
|
|
|
|
|
|
RoC
|
|
0.7
|
|
|
|
|
|
0.1
|
U.S.
|
|
1.3
|
|
|
|
|
|
0.2
|
International
|
|
0.2
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
Beauty
|
|
|
|
|
|
|
|
|
Dr. Ci Labo -
Japan
|
|
(2.5)
|
|
|
|
|
|
(0.4)
|
U.S.
|
|
0.0
|
|
|
|
|
|
0.0
|
International
|
|
(4.2)
|
|
|
|
|
|
(0.9)
|
|
|
|
|
|
|
|
|
|
Specialty
Surgery
|
|
|
|
|
|
|
|
|
Advanced
Sterilization Products
|
|
|
|
|
|
1.4
|
|
0.5
|
U.S.
|
|
|
|
|
|
1.9
|
|
0.6
|
International
|
|
|
|
|
|
0.8
|
|
0.3
|
|
|
|
|
|
|
|
|
|
Baby
Care
|
|
|
|
|
|
|
|
|
BabyCenter
|
|
0.1
|
|
|
|
|
|
0.0
|
U.S.
|
|
0.2
|
|
|
|
|
|
0.0
|
International
|
|
0.0
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
0.1
|
|
0.0
|
|
0.1
|
|
0.1
|
U.S.
|
|
0.0
|
|
0.0
|
|
0.1
|
|
0.0
|
International
|
|
0.2
|
|
0.0
|
|
0.1
|
|
0.1
|
|
|
|
|
|
|
|
|
|
WW Adjusted
Operational
|
|
1.4%
|
|
6.2%
|
|
4.3%
|
|
4.8%
|
U.S.
|
|
2.2%
|
|
2.0%
|
|
2.2%
|
|
2.1%
|
International
|
|
0.8%
|
|
11.7%
|
|
6.1%
|
|
7.6%
|
|
|
|
|
|
|
|
|
|
Note: Percentages are
based on actual, non-rounded figures and may not sum
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
THIRD
QUARTER
|
|
NINE
MONTHS
|
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
|
2019
|
|
2018
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2019
|
|
2018
|
Reported
|
Operational
(1)
|
Currency
|
|
CONSUMER SEGMENT
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BABY CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
91
|
|
120
|
-24.1%
|
-24.1%
|
-
|
|
|
$
277
|
|
306
|
-9.5%
|
-9.5%
|
-
|
|
Intl
|
|
326
|
|
352
|
-7.3%
|
-4.9%
|
-2.4%
|
|
|
977
|
|
1,079
|
-9.5%
|
-3.7%
|
-5.8%
|
|
WW
|
|
417
|
|
472
|
-11.6%
|
-9.8%
|
-1.8%
|
|
|
1,254
|
|
1,385
|
-9.5%
|
-5.0%
|
-4.5%
|
|
BEAUTY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
559
|
|
543
|
2.9%
|
2.9%
|
-
|
|
|
1,810
|
|
1,791
|
1.1%
|
1.1%
|
-
|
|
Intl
|
|
592
|
|
535
|
10.8%
|
13.5%
|
-2.7%
|
|
|
1,633
|
|
1,480
|
10.4%
|
15.3%
|
-4.9%
|
|
WW
|
|
1,151
|
|
1,078
|
6.8%
|
8.1%
|
-1.3%
|
|
|
3,443
|
|
3,271
|
5.3%
|
7.5%
|
-2.2%
|
|
ORAL CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
156
|
|
158
|
-1.1%
|
-1.1%
|
-
|
|
|
462
|
|
472
|
-2.1%
|
-2.1%
|
-
|
|
Intl
|
|
223
|
|
226
|
-1.6%
|
1.1%
|
-2.7%
|
|
|
673
|
|
684
|
-1.7%
|
3.7%
|
-5.4%
|
|
WW
|
|
379
|
|
384
|
-1.4%
|
0.2%
|
-1.6%
|
|
|
1,135
|
|
1,156
|
-1.8%
|
1.3%
|
-3.1%
|
|
OTC
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
477
|
|
440
|
8.4%
|
8.4%
|
-
|
|
|
1,468
|
|
1,359
|
8.0%
|
8.0%
|
-
|
|
Intl
|
|
621
|
|
608
|
2.2%
|
5.2%
|
-3.0%
|
|
|
1,781
|
|
1,827
|
-2.5%
|
2.7%
|
-5.2%
|
|
WW
|
|
1,098
|
|
1,048
|
4.8%
|
6.5%
|
-1.7%
|
|
|
3,249
|
|
3,186
|
2.0%
|
5.0%
|
-3.0%
|
|
WOMEN'S
HEALTH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
3
|
|
3
|
-4.0%
|
-4.0%
|
-
|
|
|
9
|
|
10
|
-3.8%
|
-3.8%
|
-
|
|
Intl
|
|
252
|
|
266
|
-5.4%
|
-1.3%
|
-4.1%
|
|
|
724
|
|
782
|
-7.5%
|
0.4%
|
-7.9%
|
|
WW
|
|
255
|
|
269
|
-5.3%
|
-1.3%
|
-4.0%
|
|
|
733
|
|
792
|
-7.4%
|
0.4%
|
-7.8%
|
|
WOUND CARE /
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
109
|
|
106
|
1.9%
|
1.9%
|
-
|
|
|
343
|
|
344
|
-0.4%
|
-0.4%
|
-
|
|
Intl
|
|
59
|
|
58
|
3.3%
|
4.9%
|
-1.6%
|
|
|
173
|
|
183
|
-5.0%
|
-1.1%
|
-3.9%
|
|
WW
|
|
168
|
|
164
|
2.4%
|
3.0%
|
-0.6%
|
|
|
516
|
|
527
|
-2.0%
|
-0.7%
|
-1.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
CONSUMER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,394
|
|
1,370
|
1.7%
|
1.7%
|
-
|
|
|
4,369
|
|
4,282
|
2.0%
|
2.0%
|
-
|
|
Intl
|
|
2,075
|
|
2,045
|
1.4%
|
4.3%
|
-2.9%
|
|
|
5,962
|
|
6,035
|
-1.2%
|
4.3%
|
-5.5%
|
|
WW
|
|
$
3,469
|
|
3,415
|
1.6%
|
3.3%
|
-1.7%
|
|
|
$
10,331
|
|
10,317
|
0.1%
|
3.4%
|
-3.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
THIRD
QUARTER
|
|
NINE
MONTHS
|
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
|
2019
|
|
2018
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2019
|
|
2018
|
Reported
|
Operational
(1)
|
Currency
|
|
PHARMACEUTICAL
SEGMENT (2)(4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMMUNOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
2,582
|
|
2,400
|
7.6%
|
7.6%
|
-
|
|
|
$
7,124
|
|
6,717
|
6.1%
|
6.1%
|
-
|
|
Intl
|
|
1,129
|
|
998
|
13.2%
|
16.8%
|
-3.6%
|
|
|
3,304
|
|
3,061
|
8.0%
|
13.9%
|
-5.9%
|
|
WW
|
|
3,711
|
|
3,398
|
9.3%
|
10.3%
|
-1.0%
|
|
|
10,428
|
|
9,778
|
6.7%
|
8.5%
|
-1.8%
|
|
REMICADE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
749
|
|
987
|
-24.1%
|
-24.1%
|
-
|
|
|
2,324
|
|
2,821
|
-17.6%
|
-17.6%
|
-
|
|
US Exports
(3)
|
|
88
|
|
100
|
-12.0%
|
-12.0%
|
-
|
|
|
226
|
|
346
|
-34.7%
|
-34.7%
|
-
|
|
Intl
|
|
299
|
|
292
|
2.5%
|
6.1%
|
-3.6%
|
|
|
795
|
|
921
|
-13.7%
|
-8.6%
|
-5.1%
|
|
WW
|
|
1,136
|
|
1,379
|
-17.6%
|
-16.9%
|
-0.7%
|
|
|
3,345
|
|
4,088
|
-18.2%
|
-17.0%
|
-1.2%
|
|
SIMPONI / SIMPONI
ARIA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
313
|
|
281
|
11.6%
|
11.6%
|
-
|
|
|
857
|
|
779
|
10.0%
|
10.0%
|
-
|
|
Intl
|
|
273
|
|
255
|
7.3%
|
9.9%
|
-2.6%
|
|
|
816
|
|
823
|
-0.8%
|
4.6%
|
-5.4%
|
|
WW
|
|
586
|
|
536
|
9.6%
|
10.8%
|
-1.2%
|
|
|
1,673
|
|
1,602
|
4.5%
|
7.2%
|
-2.7%
|
|
STELARA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,212
|
|
889
|
36.3%
|
36.3%
|
-
|
|
|
3,152
|
|
2,460
|
28.1%
|
28.1%
|
-
|
|
Intl
|
|
487
|
|
421
|
15.7%
|
19.5%
|
-3.8%
|
|
|
1,509
|
|
1,252
|
20.5%
|
27.1%
|
-6.6%
|
|
WW
|
|
1,698
|
|
1,310
|
29.6%
|
30.9%
|
-1.3%
|
|
|
4,661
|
|
3,712
|
25.6%
|
27.8%
|
-2.2%
|
|
TREMFYA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
221
|
|
143
|
54.3%
|
54.3%
|
-
|
|
|
565
|
|
311
|
81.7%
|
81.7%
|
-
|
|
Intl
|
|
69
|
|
28
|
*
|
*
|
*
|
|
|
177
|
|
58
|
*
|
*
|
*
|
|
WW
|
|
290
|
|
171
|
69.0%
|
70.3%
|
-1.3%
|
|
|
742
|
|
369
|
*
|
*
|
*
|
|
OTHER
IMMUNOLOGY(4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
-
|
-
|
-
|
-
|
|
Intl
|
|
2
|
|
2
|
-4.4%
|
-3.0%
|
-1.4%
|
|
|
8
|
|
7
|
13.7%
|
14.4%
|
-0.7%
|
|
WW
|
|
2
|
|
2
|
-4.4%
|
-3.0%
|
-1.4%
|
|
|
8
|
|
7
|
13.7%
|
14.4%
|
-0.7%
|
|
INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
418
|
|
345
|
21.2%
|
21.2%
|
-
|
|
|
1,162
|
|
1,006
|
15.5%
|
15.5%
|
-
|
|
Intl
|
|
421
|
|
478
|
-12.0%
|
-9.0%
|
-3.0%
|
|
|
1,385
|
|
1,496
|
-7.4%
|
-1.2%
|
-6.2%
|
|
WW
|
|
839
|
|
823
|
1.9%
|
3.6%
|
-1.7%
|
|
|
2,547
|
|
2,502
|
1.8%
|
5.5%
|
-3.7%
|
|
EDURANT /
rilpivirine
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
12
|
|
13
|
-7.3%
|
-7.3%
|
-
|
|
|
36
|
|
42
|
-14.3%
|
-14.3%
|
-
|
|
Intl
|
|
206
|
|
189
|
9.0%
|
13.4%
|
-4.4%
|
|
|
603
|
|
581
|
3.8%
|
10.1%
|
-6.3%
|
|
WW
|
|
218
|
|
202
|
7.9%
|
12.1%
|
-4.2%
|
|
|
639
|
|
623
|
2.6%
|
8.5%
|
-5.9%
|
|
PREZISTA / PREZCOBIX
/ REZOLSTA / SYMTUZA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
373
|
|
297
|
25.4%
|
25.4%
|
-
|
|
|
1,032
|
|
847
|
21.8%
|
21.8%
|
-
|
|
Intl
|
|
135
|
|
193
|
-29.8%
|
-28.1%
|
-1.7%
|
|
|
534
|
|
613
|
-12.8%
|
-6.5%
|
-6.3%
|
|
WW
|
|
508
|
|
490
|
3.7%
|
4.4%
|
-0.7%
|
|
|
1,566
|
|
1,460
|
7.3%
|
9.9%
|
-2.6%
|
|
OTHER INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
33
|
|
35
|
-4.3%
|
-4.3%
|
-
|
|
|
94
|
|
117
|
-19.6%
|
-19.6%
|
-
|
|
Intl
|
|
80
|
|
96
|
-17.4%
|
-14.9%
|
-2.5%
|
|
|
248
|
|
302
|
-18.2%
|
-12.1%
|
-6.1%
|
|
WW
|
|
113
|
|
131
|
-13.9%
|
-12.1%
|
-1.8%
|
|
|
342
|
|
419
|
-18.6%
|
-14.2%
|
-4.4%
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
THIRD
QUARTER
|
|
NINE
MONTHS
|
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
|
2019
|
|
2018
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2019
|
|
2018
|
Reported
|
Operational
(1)
|
Currency
|
|
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
785
|
|
651
|
20.7%
|
20.7%
|
-
|
|
|
2,172
|
|
1,914
|
13.5%
|
13.5%
|
-
|
|
Intl
|
|
810
|
|
839
|
-3.5%
|
-1.4%
|
-2.1%
|
|
|
2,590
|
|
2,663
|
-2.7%
|
2.4%
|
-5.1%
|
|
WW
|
|
1,595
|
|
1,490
|
7.1%
|
8.2%
|
-1.1%
|
|
|
4,762
|
|
4,577
|
4.0%
|
7.0%
|
-3.0%
|
|
CONCERTA /
methlyphenidate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
84
|
|
57
|
48.2%
|
48.2%
|
-
|
|
|
196
|
|
191
|
2.9%
|
2.9%
|
-
|
|
Intl
|
|
109
|
|
100
|
9.4%
|
10.6%
|
-1.2%
|
|
|
348
|
|
322
|
8.0%
|
12.9%
|
-4.9%
|
|
WW
|
|
193
|
|
157
|
23.5%
|
24.3%
|
-0.8%
|
|
|
544
|
|
513
|
6.1%
|
9.2%
|
-3.1%
|
|
INVEGA SUSTENNA /
XEPLION /
INVEGA TRINZA / TREVICTA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
554
|
|
468
|
18.3%
|
18.3%
|
-
|
|
|
1,543
|
|
1,306
|
18.1%
|
18.1%
|
-
|
|
Intl
|
|
297
|
|
281
|
5.9%
|
9.4%
|
-3.5%
|
|
|
916
|
|
859
|
6.7%
|
13.0%
|
-6.3%
|
|
WW
|
|
851
|
|
749
|
13.7%
|
15.0%
|
-1.3%
|
|
|
2,459
|
|
2,165
|
13.6%
|
16.1%
|
-2.5%
|
|
RISPERDAL
CONSTA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
79
|
|
76
|
4.9%
|
4.9%
|
-
|
|
|
237
|
|
238
|
-0.5%
|
-0.5%
|
-
|
|
Intl
|
|
89
|
|
99
|
-10.5%
|
-7.5%
|
-3.0%
|
|
|
292
|
|
321
|
-9.1%
|
-3.2%
|
-5.9%
|
|
WW
|
|
167
|
|
175
|
-3.8%
|
-2.2%
|
-1.6%
|
|
|
528
|
|
559
|
-5.4%
|
-2.1%
|
-3.3%
|
|
OTHER
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
68
|
|
50
|
35.3%
|
35.3%
|
-
|
|
|
196
|
|
179
|
9.7%
|
9.7%
|
-
|
|
Intl
|
|
316
|
|
359
|
-12.5%
|
-11.5%
|
-1.0%
|
|
|
1,035
|
|
1,161
|
-10.9%
|
-6.8%
|
-4.1%
|
|
WW
|
|
384
|
|
409
|
-6.6%
|
-5.8%
|
-0.8%
|
|
|
1,231
|
|
1,340
|
-8.2%
|
-4.6%
|
-3.6%
|
|
ONCOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,171
|
|
1,250
|
-6.3%
|
-6.3%
|
-
|
|
|
3,146
|
|
3,268
|
-3.7%
|
-3.7%
|
-
|
|
Intl
|
|
1,590
|
|
1,338
|
18.8%
|
22.9%
|
-4.1%
|
|
|
4,830
|
|
4,087
|
18.2%
|
25.2%
|
-7.0%
|
|
WW
|
|
2,761
|
|
2,588
|
6.7%
|
8.8%
|
-2.1%
|
|
|
7,976
|
|
7,355
|
8.4%
|
12.3%
|
-3.9%
|
|
DARZALEX
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
402
|
|
318
|
26.1%
|
26.1%
|
-
|
|
|
1,123
|
|
880
|
27.6%
|
27.6%
|
-
|
|
Intl
|
|
363
|
|
180
|
*
|
*
|
*
|
|
|
1,045
|
|
561
|
86.2%
|
98.7%
|
-12.5%
|
|
WW
|
|
765
|
|
498
|
53.5%
|
56.6%
|
-3.1%
|
|
|
2,168
|
|
1,441
|
50.4%
|
55.3%
|
-4.9%
|
|
IMBRUVICA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
447
|
|
334
|
34.0%
|
34.0%
|
-
|
|
|
1,163
|
|
811
|
43.5%
|
43.5%
|
-
|
|
Intl
|
|
475
|
|
371
|
27.6%
|
33.0%
|
-5.4%
|
|
|
1,373
|
|
1,101
|
24.6%
|
33.0%
|
-8.4%
|
|
WW
|
|
921
|
|
705
|
30.6%
|
33.5%
|
-2.9%
|
|
|
2,536
|
|
1,912
|
32.6%
|
37.4%
|
-4.8%
|
|
VELCADE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
-
|
-
|
-
|
-
|
|
Intl
|
|
149
|
|
271
|
-44.8%
|
-44.4%
|
-0.4%
|
|
|
636
|
|
864
|
-26.3%
|
-22.8%
|
-3.5%
|
|
WW
|
|
149
|
|
271
|
-44.8%
|
-44.4%
|
-0.4%
|
|
|
636
|
|
864
|
-26.3%
|
-22.8%
|
-3.5%
|
|
ZYTIGA / abiraterone
acetate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
233
|
|
527
|
-55.8%
|
-55.8%
|
-
|
|
|
616
|
|
1,420
|
-56.6%
|
-56.6%
|
-
|
|
Intl
|
|
508
|
|
431
|
17.8%
|
21.1%
|
-3.3%
|
|
|
1,502
|
|
1,292
|
16.2%
|
22.1%
|
-5.9%
|
|
WW
|
|
741
|
|
958
|
-22.7%
|
-21.2%
|
-1.5%
|
|
|
2,118
|
|
2,712
|
-21.9%
|
-19.1%
|
-2.8%
|
|
OTHER
ONCOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
91
|
|
71
|
26.7%
|
26.7%
|
-
|
|
|
245
|
|
157
|
54.7%
|
54.7%
|
-
|
|
Intl
|
|
95
|
|
85
|
12.2%
|
16.7%
|
-4.5%
|
|
|
274
|
|
269
|
2.1%
|
8.9%
|
-6.8%
|
|
WW
|
|
186
|
|
156
|
18.8%
|
21.3%
|
-2.5%
|
|
|
519
|
|
426
|
21.6%
|
25.9%
|
-4.3%
|
|
PULMONARY
HYPERTENSION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
427
|
|
425
|
0.5%
|
0.5%
|
-
|
|
|
1,296
|
|
1,215
|
6.6%
|
6.6%
|
-
|
|
Intl
|
|
227
|
|
231
|
-1.6%
|
0.6%
|
-2.2%
|
|
|
704
|
|
691
|
1.9%
|
7.3%
|
-5.4%
|
|
WW
|
|
654
|
|
656
|
-0.3%
|
0.5%
|
-0.8%
|
|
|
2,000
|
|
1,906
|
4.9%
|
6.9%
|
-2.0%
|
|
OPSUMIT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
206
|
|
182
|
12.9%
|
12.9%
|
-
|
|
|
581
|
|
511
|
13.7%
|
13.7%
|
-
|
|
Intl
|
|
140
|
|
128
|
10.1%
|
13.2%
|
-3.1%
|
|
|
419
|
|
381
|
10.2%
|
16.4%
|
-6.2%
|
|
WW
|
|
347
|
|
310
|
11.7%
|
13.0%
|
-1.3%
|
|
|
1,001
|
|
892
|
12.2%
|
14.9%
|
-2.7%
|
|
TRACLEER /
bosentan
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
19
|
|
69
|
-72.4%
|
-72.4%
|
-
|
|
|
121
|
|
208
|
-41.8%
|
-41.8%
|
-
|
|
Intl
|
|
46
|
|
70
|
-32.8%
|
-33.5%
|
0.7%
|
|
|
164
|
|
214
|
-23.3%
|
-20.8%
|
-2.5%
|
|
WW
|
|
65
|
|
139
|
-52.7%
|
-53.0%
|
0.3%
|
|
|
285
|
|
422
|
-32.4%
|
-31.1%
|
-1.3%
|
|
UPTRAVI
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
185
|
|
154
|
20.2%
|
20.2%
|
-
|
|
|
536
|
|
433
|
23.9%
|
23.9%
|
-
|
|
Intl
|
|
25
|
|
17
|
52.1%
|
58.7%
|
-6.6%
|
|
|
75
|
|
49
|
52.8%
|
61.5%
|
-8.7%
|
|
WW
|
|
210
|
|
171
|
23.4%
|
24.0%
|
-0.6%
|
|
|
611
|
|
482
|
26.8%
|
27.7%
|
-0.9%
|
|
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
17
|
|
20
|
-10.1%
|
-10.1%
|
-
|
|
|
58
|
|
63
|
-8.9%
|
-8.9%
|
-
|
|
Intl
|
|
15
|
|
16
|
-15.4%
|
-11.6%
|
-3.8%
|
|
|
46
|
|
47
|
-3.0%
|
5.4%
|
-8.4%
|
|
WW
|
|
31
|
|
36
|
-12.6%
|
-10.8%
|
-1.8%
|
|
|
103
|
|
110
|
-6.4%
|
-2.9%
|
-3.5%
|
|
CARDIOVASCULAR /
METABOLISM / OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
955
|
|
1,026
|
-6.9%
|
-6.9%
|
-
|
|
|
2,804
|
|
3,230
|
-13.2%
|
-13.2%
|
-
|
|
Intl
|
|
360
|
|
365
|
-1.3%
|
1.1%
|
-2.4%
|
|
|
1,131
|
|
1,196
|
-5.4%
|
-0.7%
|
-4.7%
|
|
WW
|
|
1,316
|
|
1,391
|
-5.4%
|
-4.8%
|
-0.6%
|
|
|
3,936
|
|
4,426
|
-11.1%
|
-9.8%
|
-1.3%
|
|
XARELTO
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
613
|
|
612
|
0.1%
|
0.1%
|
-
|
|
|
1,704
|
|
1,869
|
-8.9%
|
-8.9%
|
-
|
|
Intl
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
-
|
-
|
-
|
-
|
|
WW
|
|
613
|
|
612
|
0.1%
|
0.1%
|
-
|
|
|
1,704
|
|
1,869
|
-8.9%
|
-8.9%
|
-
|
|
INVOKANA /
INVOKAMET
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
125
|
|
150
|
-16.6%
|
-16.6%
|
-
|
|
|
411
|
|
523
|
-21.3%
|
-21.3%
|
-
|
|
Intl
|
|
55
|
|
40
|
33.9%
|
37.8%
|
-3.9%
|
|
|
147
|
|
130
|
12.3%
|
17.9%
|
-5.6%
|
|
WW
|
|
179
|
|
190
|
-5.8%
|
-5.0%
|
-0.8%
|
|
|
558
|
|
653
|
-14.6%
|
-13.4%
|
-1.2%
|
|
PROCRIT /
EPREX
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
126
|
|
178
|
-29.6%
|
-29.6%
|
-
|
|
|
387
|
|
523
|
-26.1%
|
-26.1%
|
-
|
|
Intl
|
|
72
|
|
77
|
-5.7%
|
-4.4%
|
-1.3%
|
|
|
220
|
|
244
|
-9.8%
|
-6.4%
|
-3.4%
|
|
WW
|
|
198
|
|
255
|
-22.4%
|
-22.0%
|
-0.4%
|
|
|
607
|
|
767
|
-20.9%
|
-19.8%
|
-1.1%
|
|
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
91
|
|
86
|
8.1%
|
8.1%
|
-
|
|
|
302
|
|
315
|
-3.8%
|
-3.8%
|
-
|
|
Intl
|
|
234
|
|
248
|
-5.7%
|
-3.2%
|
-2.5%
|
|
|
765
|
|
822
|
-6.9%
|
-2.0%
|
-4.9%
|
|
WW
|
|
325
|
|
334
|
-2.2%
|
-0.3%
|
-1.9%
|
|
|
1,067
|
|
1,137
|
-6.1%
|
-2.5%
|
-3.6%
|
|
TOTAL
PHARMACEUTICAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
6,340
|
|
6,097
|
4.0%
|
4.0%
|
-
|
|
|
17,705
|
|
17,350
|
2.0%
|
2.0%
|
-
|
|
Intl
|
|
4,537
|
|
4,249
|
6.8%
|
10.0%
|
-3.2%
|
|
|
13,945
|
|
13,194
|
5.7%
|
11.7%
|
-6.0%
|
|
WW
|
|
$
10,877
|
|
10,346
|
5.1%
|
6.4%
|
-1.3%
|
|
|
$
31,650
|
|
30,544
|
3.6%
|
6.2%
|
-2.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
THIRD
QUARTER
|
|
NINE
MONTHS
|
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
|
2019
|
|
2018
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2019
|
|
2018
|
Reported
|
Operational
(1)
|
Currency
|
|
MEDICAL DEVICES
SEGMENT (2)(5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIABETES
CARE(5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$ -
|
|
125
|
*
|
*
|
-
|
|
|
$ -
|
|
371
|
*
|
*
|
-
|
|
Intl
|
|
-
|
|
190
|
*
|
*
|
*
|
|
|
-
|
|
638
|
*
|
*
|
*
|
|
WW
|
|
-
|
|
315
|
*
|
*
|
*
|
|
|
-
|
|
1,009
|
*
|
*
|
*
|
|
INTERVENTIONAL
SOLUTIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
357
|
|
320
|
11.5%
|
11.5%
|
-
|
|
|
1,066
|
|
947
|
12.6%
|
12.6%
|
-
|
|
Intl
|
|
382
|
|
333
|
15.3%
|
17.0%
|
-1.7%
|
|
|
1,156
|
|
1,013
|
14.2%
|
19.0%
|
-4.8%
|
|
WW
|
|
741
|
|
653
|
13.4%
|
14.3%
|
-0.9%
|
|
|
2,223
|
|
1,960
|
13.4%
|
15.9%
|
-2.5%
|
|
ORTHOPAEDICS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,301
|
|
1,284
|
1.2%
|
1.2%
|
-
|
|
|
3,950
|
|
3,923
|
0.7%
|
0.7%
|
-
|
|
Intl
|
|
837
|
|
827
|
1.2%
|
4.1%
|
-2.9%
|
|
|
2,616
|
|
2,700
|
-3.1%
|
2.0%
|
-5.1%
|
|
WW
|
|
2,138
|
|
2,111
|
1.2%
|
2.3%
|
-1.1%
|
|
|
6,566
|
|
6,623
|
-0.9%
|
1.2%
|
-2.1%
|
|
HIPS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
204
|
|
201
|
1.1%
|
1.1%
|
-
|
|
|
633
|
|
621
|
1.8%
|
1.8%
|
-
|
|
Intl
|
|
133
|
|
129
|
2.7%
|
5.7%
|
-3.0%
|
|
|
428
|
|
432
|
-0.8%
|
4.7%
|
-5.5%
|
|
WW
|
|
336
|
|
330
|
1.7%
|
2.9%
|
-1.2%
|
|
|
1,061
|
|
1,053
|
0.7%
|
3.0%
|
-2.3%
|
|
KNEES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
209
|
|
215
|
-2.7%
|
-2.7%
|
-
|
|
|
650
|
|
672
|
-3.3%
|
-3.3%
|
-
|
|
Intl
|
|
136
|
|
126
|
7.9%
|
10.8%
|
-2.9%
|
|
|
435
|
|
438
|
-0.6%
|
4.4%
|
-5.0%
|
|
WW
|
|
344
|
|
341
|
1.2%
|
2.3%
|
-1.1%
|
|
|
1,085
|
|
1,110
|
-2.2%
|
-0.2%
|
-2.0%
|
|
TRAUMA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
415
|
|
395
|
5.1%
|
5.1%
|
-
|
|
|
1,239
|
|
1,196
|
3.6%
|
3.6%
|
-
|
|
Intl
|
|
262
|
|
259
|
1.0%
|
4.2%
|
-3.2%
|
|
|
795
|
|
829
|
-4.1%
|
1.0%
|
-5.1%
|
|
WW
|
|
677
|
|
654
|
3.5%
|
4.7%
|
-1.2%
|
|
|
2,034
|
|
2,025
|
0.4%
|
2.5%
|
-2.1%
|
|
SPINE &
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
472
|
|
473
|
-0.2%
|
-0.2%
|
-
|
|
|
1,427
|
|
1,434
|
-0.5%
|
-0.5%
|
-
|
|
Intl
|
|
306
|
|
313
|
-2.0%
|
0.6%
|
-2.6%
|
|
|
957
|
|
1,001
|
-4.4%
|
0.6%
|
-5.0%
|
|
WW
|
|
778
|
|
786
|
-0.9%
|
0.1%
|
-1.0%
|
|
|
2,384
|
|
2,435
|
-2.1%
|
0.0%
|
-2.1%
|
|
SURGERY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
940
|
|
1,016
|
-7.4%
|
-7.4%
|
-
|
|
|
2,867
|
|
3,031
|
-5.4%
|
-5.4%
|
-
|
|
Intl
|
|
1,371
|
|
1,360
|
0.8%
|
3.5%
|
-2.7%
|
|
|
4,192
|
|
4,283
|
-2.1%
|
3.2%
|
-5.3%
|
|
WW
|
|
2,311
|
|
2,376
|
-2.7%
|
-1.2%
|
-1.5%
|
|
|
7,059
|
|
7,314
|
-3.5%
|
-0.4%
|
-3.1%
|
|
ADVANCED
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
409
|
|
421
|
-2.8%
|
-2.8%
|
-
|
|
|
1,209
|
|
1,216
|
-0.6%
|
-0.6%
|
-
|
|
Intl
|
|
602
|
|
555
|
8.3%
|
11.2%
|
-2.9%
|
|
|
1,811
|
|
1,731
|
4.6%
|
10.1%
|
-5.5%
|
|
WW
|
|
1,010
|
|
976
|
3.6%
|
5.2%
|
-1.6%
|
|
|
3,019
|
|
2,947
|
2.4%
|
5.7%
|
-3.3%
|
|
GENERAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
443
|
|
423
|
4.7%
|
4.7%
|
-
|
|
|
1,311
|
|
1,282
|
2.3%
|
2.3%
|
-
|
|
Intl
|
|
659
|
|
657
|
0.2%
|
2.9%
|
-2.7%
|
|
|
1,998
|
|
2,094
|
-4.6%
|
0.6%
|
-5.2%
|
|
WW
|
|
1,101
|
|
1,080
|
1.9%
|
3.6%
|
-1.7%
|
|
|
3,309
|
|
3,376
|
-2.0%
|
1.2%
|
-3.2%
|
|
SPECIALTY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
88
|
|
172
|
-48.0%
|
-48.0%
|
-
|
|
|
347
|
|
533
|
-34.9%
|
-34.9%
|
-
|
|
Intl
|
|
110
|
|
148
|
-25.0%
|
-23.1%
|
-1.9%
|
|
|
383
|
|
458
|
-16.2%
|
-11.1%
|
-5.1%
|
|
WW
|
|
200
|
|
320
|
-37.4%
|
-36.5%
|
-0.9%
|
|
|
731
|
|
991
|
-26.2%
|
-23.9%
|
-2.3%
|
|
VISION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
459
|
|
452
|
1.4%
|
1.4%
|
-
|
|
|
1,366
|
|
1,351
|
1.1%
|
1.1%
|
-
|
|
Intl
|
|
734
|
|
680
|
8.0%
|
9.1%
|
-1.1%
|
|
|
2,117
|
|
2,069
|
2.3%
|
6.1%
|
-3.8%
|
|
WW
|
|
1,193
|
|
1,132
|
5.4%
|
6.1%
|
-0.7%
|
|
|
3,483
|
|
3,420
|
1.8%
|
4.1%
|
-2.3%
|
|
CONTACT LENSES /
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
339
|
|
319
|
6.2%
|
6.2%
|
-
|
|
|
993
|
|
948
|
4.7%
|
4.7%
|
-
|
|
Intl
|
|
555
|
|
516
|
7.4%
|
8.4%
|
-1.0%
|
|
|
1,566
|
|
1,538
|
1.8%
|
5.7%
|
-3.9%
|
|
WW
|
|
893
|
|
835
|
7.0%
|
7.6%
|
-0.6%
|
|
|
2,559
|
|
2,486
|
2.9%
|
5.4%
|
-2.5%
|
|
SURGICAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
120
|
|
133
|
-10.0%
|
-10.0%
|
-
|
|
|
373
|
|
403
|
-7.4%
|
-7.4%
|
-
|
|
Intl
|
|
180
|
|
164
|
9.9%
|
11.3%
|
-1.4%
|
|
|
551
|
|
531
|
3.7%
|
7.3%
|
-3.6%
|
|
WW
|
|
299
|
|
297
|
0.9%
|
1.7%
|
-0.8%
|
|
|
923
|
|
934
|
-1.1%
|
0.9%
|
-2.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL MEDICAL
DEVICES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
3,057
|
|
3,197
|
-4.4%
|
-4.4%
|
-
|
|
|
9,249
|
|
9,623
|
-3.9%
|
-3.9%
|
-
|
|
Intl
|
|
3,326
|
|
3,390
|
-1.9%
|
0.3%
|
-2.2%
|
|
|
10,082
|
|
10,703
|
-5.8%
|
-1.0%
|
-4.8%
|
|
WW
|
|
$
6,383
|
|
6,587
|
-3.1%
|
-2.0%
|
-1.1%
|
|
|
$
19,331
|
|
20,326
|
-4.9%
|
-2.4%
|
-2.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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) Reported as U.S.
sales
|
|
(4) Prior year
amounts have been reclassified to conform to current year product
disclosure
|
|
(5) Reflects LifeScan
divestiture October 2, 2018
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2019-third-quarter-results-300938512.html
SOURCE Johnson & Johnson