Johnson & Johnson Reports 2018 First-Quarter Results:

Johnson & Johnson Reports 2018 First-Quarter Results:

2018 First-Quarter Sales of $20.0 Billion Increased 12.6% versus 2017

2018 First-Quarter EPS was $1.60

2018 Adjusted First-Quarter EPS of $2.06 increased 12.6%*

Sales Momentum Continued in the First Quarter

Strong Adjusted EPS Growth of 12.6%*

Company Increased Sales and Reaffirms EPS Guidance

PR Newswire

NEW BRUNSWICK, N.J., April 17, 2018 /PRNewswire/ -- Johnson & Johnson JNJ today announced sales of $20.0 billion for the first quarter of 2018, an increase of 12.6% as compared to the first quarter of 2017. Operational sales results increased 8.4% and the positive impact of currency was 4.2%. Domestic sales increased 6.1%. International sales increased 19.9%, reflecting operational growth of 10.9% and a positive currency impact of 9.0%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 4.3%, domestic sales increased 1.3% and international sales increased 7.6%.*  

Net earnings and diluted earnings per share for the first quarter of 2018 were $4.4 billion and $1.60, respectively. First-quarter 2018 net earnings included after-tax intangible amortization expense of approximately $1.0 billion and a charge for after-tax special items of approximately $0.3 billion. First-quarter 2017 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a charge for after-tax special items of approximately $0.4 billion. Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $5.6 billion and adjusted diluted earnings per share were $2.06, representing increases of 11.8% and 12.6%, respectively, as compared to the same period in 2017.* On an operational basis, adjusted diluted earnings per share also increased 5.5%.* A reconciliation of non-GAAP financial measures is included as an accompanying schedule.

"We are pleased with the strong and consistent performance delivered by our colleagues around the world, demonstrated by our sales and EPS growth in the first quarter," said Alex Gorsky, Chairman and Chief Executive Officer. "Our Pharmaceutical business continues to deliver robust growth and we are pleased with the improvement in our Consumer business. In our Medical Devices businesses, we have areas of leadership and continue to make investments and portfolio choices to improve performance."

Mr. Gorsky continued, "The U.S. tax legislation passed late last year is creating the opportunity for us to invest more than $30 billion in R&D and capital investments in the U.S. over the next four years, which is an increase of 15%."

The Company increased its sales guidance for the full-year 2018 to a range of $81.0 to $81.8 billion, reflecting expected operational growth in the range of 4.0% to 5.0%. Additionally, the Company reaffirmed its adjusted earnings guidance for full-year 2018 to a range of $8.00 to $8.20 per share, reflecting expected operational growth in the range of 6.8% to 9.6%.

Segment Sales Performance 

Worldwide Consumer sales of $3.4 billion for the first quarter 2018 represented an increase of 5.3% versus the prior year, consisting of an operational increase of 1.3% and a positive impact from currency of 4.0%. Domestic sales increased 1.6%, international sales increased 8.2%, which reflected an operational increase of 1.2% and a positive currency impact of 7.0%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 2.0%, domestic sales increased 1.6% and international sales increased 2.3%*.

Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by beauty products primarily NEUTROGENA, AVEENO, and Dr. Ci Labo, and international analgesics in over-the-counter products, partially offset by the negative impact of domestic baby care products.

Worldwide Pharmaceutical sales of $9.8 billion for the first quarter 2018 represented an increase of 19.4% versus the prior year with an operational increase of 15.1% and a positive impact from currency of 4.3%. Domestic sales increased 9.9%; international sales increased 33.1%, which reflected an operational increase of 22.5% and a positive currency impact of 10.6%. Sales included the impact of Actelion Ltd which contributed 7.6%, to worldwide operational sales growth. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 7.5%, domestic sales increased 2.2% and international sales increased 15.3%.* 

Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by new products and the strength of core products. Strong growth in new products include DARZALEX (daratumumab), for the treatment of patients with 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 and TREMFYA (guselkumab), for the treatment of adults living with moderate to severe plaque psoriasis.  Additional contributors to operational sales growth included ZYTIGA  (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic, castration-resistant prostate cancer, STELARA (ustekinumab) and international SIMPONI/SIMPONI ARIA (golimumab), biologics for the treatment of  a number of immune-mediated inflammatory diseases, XARELTO (rivaroxaban), an oral anticoagulant, and INVEGA SUSTENNA/XEPLION/TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults.

During the quarter, the U.S. Food and Drug Administration (FDA) approved an additional indication for ZYTIGA (abiraterone acetate), in combination with prednisone for the treatment of patients with metastatic high-risk castration-sensitive prostate cancer and ERLEADA (apalutamide) an oral androgen receptor inhibitor for the treatment of patients with non-metastatic castration-resistant prostate cancer. In addition, the Committee for Medicinal Products for Human Use issued a positive opinion recommending marketing authorization for JULUCA (rilpivirine and dolutegravir), the first, single-pill, two-drug regimen for the treatment of human immunodeficiency virus type 1 infection.

Also in the quarter, a marketing authorization application was submitted to the European Medicines Agency for apalutamide, an oral androgen receptor inhibitor for the treatment of patients with high-risk non-metastatic castration-resistant prostate cancer.

Worldwide Medical Devices sales of $6.8 billion for the first quarter 2018 represented an increase of 7.5% versus the prior year consisting of an operational increase of 3.2% and a positive currency impact of 4.3%. Domestic sales increased 2.2%; international sales increased 12.7%, which reflected an operational increase of 4.2% and a positive currency impact of 8.5%. Sales included the partial quarter impact of the recently acquired surgical vision business  which contributed 3.1%, to worldwide operational sales growth. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.1%, domestic sales decreased 0.2% and international sales increased 2.4%.*

Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by ACUVUE contact lenses in the Vision Care business; electrophysiology products in the Interventional Solutions business; endocutters in the Advanced Surgery business; and trauma products in the Orthopaedics business, partially offset by declines in the Diabetes Care business and spine products in the Orthopaedics business.

During the quarter, the acquisition of Orthotaxy S.A.S., a privately-held developer of software-enabled surgery technologies, including a differentiated robotic-assisted surgery was completed. In addition, the Company announced a binding offer from Platinum Equity, a private investment firm, to acquire its LifeScan business for approximately $2.1 billion, subject to customary adjustments.

Subsequent to the quarter, ACUVUE OASYS with Transitions received 510(k) clearance from the FDA and is indicated for vision correction and the attenuation of bright light.

Additionally, Johnson & Johnson plans to implement actions across its global supply chain that are intended to enable the company to focus resources and increase investments in critical capabilities, technologies and solutions necessary to manufacture and supply its product portfolio of the future, enhance agility and drive growth. The Company expects these supply chain actions will include expanding our use of strategic collaborations, and bolstering our initiatives to reduce complexity, improving cost-competitiveness, enhancing capabilities and optimizing our network.  Discussions regarding specific future actions are ongoing and are subject to all relevant consultation requirements before they are finalized.

In total, the Company expects these actions to generate approximately $0.6 to $0.8 billion in annual pre-tax cost savings that will be substantially delivered by 2022. The Company expects to record pre-tax restructuring charges of approximately $1.9 to $2.3 billion, which will be treated as a special item.

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.

* Operational sales growth excluding the net impact of acquisitions and divestitures, as well as adjusted net earnings, adjusted diluted earnings per share and operational adjusted diluted earnings per share excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. 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 Investor Relations section of the company's website at www.investor.jnj.com. 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.

Johnson & Johnson will conduct a conference call with investors to discuss this news release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website at www.investor.jnj.com. A replay and podcast will be available approximately two hours after the live webcast by visiting www.investor.jnj.com

Copies of the financial schedules accompanying this press release are available at www.investor.jnj.com/historical-sales.cfm. These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including 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 be found on the company's website at www.investor.jnj.com.

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, including restructuring 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 31, 2017, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in the company's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

 

Johnson & Johnson and Subsidiaries

Supplementary Sales Data





















(Unaudited; Dollars in Millions)

FIRST QUARTER











Percent Change



2018



2017



Total



Operations



Currency

Sales to customers by



















segment of business







































Consumer



















    U.S.

$       1,436



1,414



1.6

%

1.6



-

    International

1,962



1,814



8.2



1.2



7.0



3,398



3,228



5.3



1.3



4.0





















Pharmaceutical



















    U.S.

5,354



4,872



9.9



9.9



-

    International

4,490



3,373



33.1



22.5



10.6



9,844



8,245



19.4



15.1



4.3





















Medical Devices



















    U.S.

3,161



3,092



2.2



2.2



-

    International

3,606



3,201



12.7



4.2



8.5



6,767



6,293



7.5



3.2



4.3





















U.S.

9,951



9,378



6.1



6.1



-

International

10,058



8,388



19.9



10.9



9.0

Worldwide

$     20,009



17,766



12.6

%

8.4



4.2

 

 

Johnson & Johnson and Subsidiaries

Supplementary Sales Data























(Unaudited; Dollars in Millions)



FIRST QUARTER













Percent Change





2018



2017



Total



Operations



Currency

Sales to customers by





















geographic area











































U.S.



$       9,951



9,378



6.1

%

6.1



-























Europe



4,797



3,858



24.3



10.0



14.3

Western Hemisphere excluding U.S.



1,567



1,454



7.8



7.2



0.6

Asia-Pacific, Africa



3,694



3,076



20.1



13.7



6.4

International



10,058



8,388



19.9



10.9



9.0























Worldwide



$     20,009



17,766



12.6

%

8.4



4.2

 

 

Johnson & Johnson and Subsidiaries

Condensed Consolidated Statement of Earnings 





















(Unaudited; in Millions Except Per Share Figures)

FIRST QUARTER























2018



2017*



Percent







Percent







Percent



Increase



Amount



to Sales



Amount



to Sales



(Decrease)

Sales to customers

$ 20,009



100.0



$ 17,766



100.0



12.6

Cost of products sold

6,614



33.1



5,409



30.4



22.3

Selling, marketing and administrative expenses

5,263



26.3



4,763



26.8



10.5

Research and development expense

2,404



12.0



2,070



11.7



16.1

Interest (income) expense, net

145



0.7



83



0.5





Other (income) expense, net

60



0.3



(219)



(1.3)





Restructuring

42



0.2



85



0.5





Earnings before provision for taxes on income

5,481



27.4



5,575



31.4



(1.7)

Provision for taxes on income

1,114



5.6



1,153



6.5



(3.4)

Net earnings

4,367



21.8



4,422



24.9



(1.2)





















Net earnings per share (Diluted)

$     1.60







$     1.61







(0.6)





















Average shares outstanding (Diluted)

2,731.9







2,754.5





























Effective tax rate

20.3

%





20.7

%



























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



















Earnings before provision for taxes on income

$   6,858



34.3



$   6,103



34.4



12.4

Net earnings

$   5,635



28.2



$   5,038



28.4



11.8

Net earnings per share (Diluted)

$     2.06







$     1.83







12.6

Effective tax rate

17.8

%





17.5

%



























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

*2017 Statement of Earnings line items have been restated to reflect impact of ASU 2017-07

 

 

 

Johnson & Johnson and Subsidiaries













Reconciliation of Non-GAAP Financial Measures





























First Quarter



% Incr. /



(Dollars in Millions Except Per Share Data)

2018



2017



(Decr.)

















Earnings before provision for taxes on income - as reported

$ 5,481



5,575



(1.7)

%















Intangible asset amortization expense

1,115



329





















Restructuring/Other (1)

107



161





















Actelion acquisition related cost

96



-





















Unrealized loss/(gain) on securities

27



-





















AMO acquisition related cost

21



38





















Other

11



-





















Earnings before provision for taxes on income - as adjusted

$ 6,858



6,103



12.4

%















Net Earnings - as reported

$ 4,367



4,422



(1.2)

%















Intangible asset amortization expense

996



244





















Restructuring/Other

81



121





















Actelion acquisition related cost

92



-





















Unrealized loss/(gain) on securities

21



-





















AMO acquisition related cost

17



251





















Impact of tax legislation(2)

52



-





















Other

9



-





















Net Earnings - as adjusted 

$ 5,635



5,038



11.8

%















Diluted Net Earnings per share - as reported

$   1.60



1.61



(0.6)

%















Intangible asset amortization expense

0.36



0.09





















Restructuring/Other

0.03



0.04





















Actelion acquisition related cost

0.03



-





















Unrealized loss/(gain) on securities

0.01



-





















AMO acquisition related cost

0.01



0.09





















Impact of tax legislation

0.02



-





















Other

-



-





















Diluted Net Earnings per share - as adjusted 

$   2.06



1.83



12.6

%















Operational Diluted Net Earnings per share - as adjusted at 2016 foreign currency

exchange rates





1.86





















Impact of currency at 2017 foreign currency exchange rates

(0.13)



(0.03)





















Operational Diluted Net Earnings per share - as adjusted at 2017 foreign currency exchange rates

$   1.93



1.83



5.5

%















(1)Includes $6M recorded in cost of products sold and $59M recorded in other (income) expense in the first quarter 2018,

      and $4M recorded in cost of products sold and $72M recorded in other (income) expense in the first quarter 2017

(2)Includes foreign currency translation

 

 

 

Johnson & Johnson and Subsidiaries

Reconciliation of Non-GAAP Financial Measure



















Operational Sales Growth Excluding Acquisitions and Divestitures

 FIRST QUARTER 2018 ACTUAL vs. 2017 ACTUAL 





















 Segments 





Consumer



 Pharmaceutical 



 Medical Devices 



 Total 





Operational %(1)

 WW As Reported: 



1.3%



15.1%



3.2%



8.4%

 U.S. 



1.6%



9.9%



2.2%



6.1%

 International 



1.2%



22.5%



4.2%



10.9%



















Vision Care

















Vision Surgical & Eye Health Business (2)











(3.1)



(1.1)

 U.S. 











(2.8)



(0.9)

 International 











(3.4)



(1.3)



















Pulmonary Hypertension

















Actelion







(7.1)







(3.3)

 U.S. 







(7.4)







(3.8)

 International 







(6.6)







(2.7)



















Cardiovascular / Metabolism / Other

















Actelion







(0.5)







(0.2)

 U.S. 







(0.3)







(0.2)

 International 







(0.6)







(0.3)



















Spine & Other 

















Codman Neuroscience











1.0



0.4

 U.S. 











0.7



0.2

 International 











1.4



0.6



















Wound Care / Other

















Compeed



0.7











0.1

 U.S. 



0.0











0.0

 International 



1.2











0.3



















All Other Acquisitions and Divestitures



0.0







0.0



0.0

 U.S. 



0.0







(0.3)



(0.1)

 International 



(0.1)







0.2



0.1



















WW Ops excluding Acquisitions and Divestitures



2.0%



7.5%



1.1%



4.3%

 U.S. 



1.6%



2.2%



(0.2)%



1.3%

 International 



2.3%



15.3%



2.4%



7.6%



















(1)Operational growth excludes the effect of translational currency

(2)Previously referred to as Medical Optics

 

 

 





REPORTED SALES vs. PRIOR PERIOD ($MM)



FIRST QUARTER











% Change





2018



2017

Reported

Operational (1)

Currency

CONSUMER SEGMENT (2) 















BABY CARE















US



$            97



113

-14.2%

-14.2%

-

Intl



360



342

5.3%

1.3%

4.0%

WW



457



455

0.4%

-2.6%

3.0%

BEAUTY















US



611



567

7.8%

7.8%

-

Intl



473



414

14.3%

6.2%

8.1%

WW



1,084



981

10.5%

7.1%

3.4%

ORAL CARE















US



157



156

0.6%

0.6%

-

Intl



222



206

7.8%

0.7%

7.1%

WW



379



362

4.7%

0.6%

4.1%

OTC















US



465



477

-2.5%

-2.5%

-

Intl



607



536

13.2%

3.9%

9.3%

WW



1,072



1,013

5.8%

0.9%

4.9%

WOMEN'S HEALTH















US



3



3

0.0%

0.0%

-

Intl



240



239

0.4%

-4.6%

5.0%

WW



243



242

0.4%

-4.6%

5.0%

WOUND CARE / OTHER















US



103



98

5.1%

5.1%

-

Intl



60



77

-22.1%

-26.7%

4.6%

WW



163



175

-6.9%

-8.9%

2.0%

















TOTAL CONSUMER















US



1,436



1,414

1.6%

1.6%

-

Intl



1,962



1,814

8.2%

1.2%

7.0%

WW



$       3,398



3,228

5.3%

1.3%

4.0%

































See footnotes at end of schedule

 

 

 





REPORTED SALES vs. PRIOR PERIOD ($MM)



FIRST QUARTER











% Change





2018



2017

Reported

Operational (1)

Currency

PHARMACEUTICAL SEGMENT (2)















IMMUNOLOGY















US



$       2,000



2,123

-5.8%

-5.8%

-

Intl



1,042



807

29.1%

19.4%

9.7%

WW



3,042



2,930

3.8%

1.1%

2.7%

REMICADE















US 



916



1,182

-22.5%

-22.5%

-

US Exports (3)



142



165

-13.9%

-13.9%

-

Intl



331



325

1.8%

-3.7%

5.5%

WW



1,389



1,672

-16.9%

-18.0%

1.1%

SIMPONI / SIMPONI ARIA















US



224



229

-2.2%

-2.2%

-

Intl



294



199

47.7%

37.3%

10.4%

WW



518



428

21.0%

16.2%

4.8%

STELARA















US



652



547

19.2%

19.2%

-

Intl



409



276

48.2%

34.0%

14.2%

WW



1,061



823

28.9%

24.1%

4.8%

OTHER IMMUNOLOGY















US



66



-

 * 

 * 

-

Intl



8



7

14.3%

13.3%

1.0%

WW



74



7

*

*

*

INFECTIOUS DISEASES















US



333



326

2.1%

2.1%

-

Intl



497



423

17.5%

5.9%

11.6%

WW



830



749

10.8%

4.2%

6.6%

EDURANT / rilpivirine















US



14



12

16.7%

16.7%

-

Intl



196



137

43.1%

25.2%

17.9%

WW



210



149

40.9%

24.5%

16.4%

PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA















US



273



259

5.4%

5.4%

-

Intl



205



171

19.9%

9.4%

10.5%

WW



478



430

11.2%

7.0%

4.2%

OTHER INFECTIOUS DISEASES















US



46



55

-16.4%

-16.4%

-

Intl



96



115

-16.5%

-22.4%

5.9%

WW



142



170

-16.5%

-20.5%

4.0%

 

 

 





REPORTED SALES vs. PRIOR PERIOD ($MM)



FIRST QUARTER











% Change





2018



2017

Reported

Operational (1)

Currency

NEUROSCIENCE















US



624



664

-6.0%

-6.0%

-

Intl



935



833

12.2%

3.3%

8.9%

WW



1,559



1,497

4.1%

-0.8%

4.9%

CONCERTA / Methylphenidate















US



66



108

-38.9%

-38.9%

-

Intl



107



101

5.9%

-0.9%

6.8%

WW



173



209

-17.2%

-20.5%

3.3%

INVEGA SUSTENNA / XEPLION / TRINZA / TREVICTA















US



400



372

7.5%

7.5%

-

Intl



296



232

27.6%

15.2%

12.4%

WW



696



604

15.2%

10.5%

4.7%

RISPERDAL CONSTA















US



82



95

-13.7%

-13.7%

-

Intl



114



112

1.8%

-7.1%

8.9%

WW



196



207

-5.3%

-10.2%

4.9%

OTHER NEUROSCIENCE















US



76



89

-14.6%

-14.6%

-

Intl



418



388

7.7%

0.4%

7.3%

WW



494



477

3.6%

-2.3%

5.9%

ONCOLOGY















US



933



664

40.5%

40.5%

-

Intl



1,378



930

48.2%

34.5%

13.7%

WW



2,311



1,594

45.0%

37.0%

8.0%

DARZALEX















US



264



201

31.3%

31.3%

-

Intl



168



54

*

*

*

WW



432



255

69.4%

63.5%

5.9%

IMBRUVICA















US



227



190

19.5%

19.5%

-

Intl



360



219

64.4%

49.0%

15.4%

WW



587



409

43.5%

35.3%

8.2%

VELCADE















US



-



-

-

-

-

Intl



313



280

11.8%

1.6%

10.2%

WW



313



280

11.8%

1.6%

10.2%

ZYTIGA















US



407



233

74.7%

74.7%

-

Intl



438



290

51.0%

36.8%

14.2%

WW



845



523

61.6%

53.7%

7.9%

OTHER ONCOLOGY















US



35



40

-12.5%

-12.5%

-

Intl



99



87

13.8%

4.0%

9.8%

WW



134



127

5.5%

-1.2%

6.7%

 

 

 





REPORTED SALES vs. PRIOR PERIOD ($MM)



FIRST QUARTER











% Change





2018



2017

Reported

Operational (1)

Currency

PULMONARY HYPERTENSION(4)















US



361



-

*

*

-

Intl



224



-

*

*

-

WW



585



-

*

*

-

OPSUMIT















US



149



-

*

*

-

Intl



122



-

*

*

-

WW



271



-

*

*

-

TRACLEER















US



68



-

*

*

-

Intl



72



-

*

*

-

WW



140



-

*

*

-

UPTRAVI















US



124



-

*

*

-

Intl



16



-

*

*

-

WW



140



-

*

*

-

OTHER















US



20



-

*

*

-

Intl



14



-

*

*

-

WW



34



-

*

*

-

















CARDIOVASCULAR / METABOLISM / OTHER















US



1,103



1,095

0.7%

0.7%

-

Intl



414



380

8.9%

1.4%

7.5%

WW



1,517



1,475

2.8%

0.9%

1.9%

XARELTO















US



578



513

12.7%

12.7%

-

Intl



-



-

-

-

-

WW



578



513

12.7%

12.7%

-

INVOKANA / INVOKAMET















US



204



247

-17.4%

-17.4%

-

Intl



44



37

18.9%

10.3%

8.6%

WW



248



284

-12.7%

-13.8%

1.1%

PROCRIT / EPREX















US



189



169

11.8%

11.8%

-

Intl



87



78

11.5%

2.8%

8.7%

WW



276



247

11.7%

9.0%

2.7%

OTHER















US



132



166

-20.5%

-20.5%

-

Intl



283



265

6.8%

-0.2%

7.0%

WW



415



431

-3.7%

-8.0%

4.3%

















TOTAL PHARMACEUTICAL















US



5,354



4,872

9.9%

9.9%

-

Intl



4,490



3,373

33.1%

22.5%

10.6%

WW



$       9,844



8,245

19.4%

15.1%

4.3%

















































See footnotes at end of schedule















 

 

 





REPORTED SALES vs. PRIOR PERIOD ($MM)



FIRST QUARTER











% Change





2018



2017

Reported

Operational (1)

Currency

MEDICAL DEVICES SEGMENT (2)(5)















DIABETES CARE















US



$          117



154

-24.0%

-24.0%

-

Intl



222



245

-9.4%

-16.7%

7.3%

WW



339



399

-15.0%

-19.5%

4.5%

DIAGNOSTICS















US



-



-

-

-

-

Intl



-



1

*

*

*

WW



-



1

*

*

*

INTERVENTIONAL SOLUTIONS (6)















US



304



279

9.0%

9.0%

-

Intl



336



270

24.4%

14.3%

10.1%

WW



640



549

16.6%

11.6%

5.0%

ORTHOPAEDICS(6)















US 



1,307



1,359

-3.8%

-3.8%

-

Intl



943



916

2.9%

-5.8%

8.7%

WW



2,250



2,275

-1.1%

-4.6%

3.5%

HIPS















US



209



209

0.0%

0.0%

-

Intl



154



143

7.7%

-1.2%

8.9%

WW



363



352

3.1%

-0.5%

3.6%

KNEES















US



228



246

-7.3%

-7.3%

-

Intl



159



152

4.6%

-4.2%

8.8%

WW



387



398

-2.8%

-6.2%

3.4%

TRAUMA















US



407



391

4.1%

4.1%

-

Intl



289



251

15.1%

5.6%

9.5%

WW



696



642

8.4%

4.7%

3.7%

SPINE & OTHER(6)















US



463



513

-9.7%

-9.7%

-

Intl



341



370

-7.8%

-15.8%

8.0%

WW



804



883

-8.9%

-12.2%

3.3%

 

 

 





REPORTED SALES vs. PRIOR PERIOD ($MM)



FIRST QUARTER











% Change





2018



2017

Reported

Operational (1)

Currency

SURGERY















US



993



995

-0.2%

-0.2%

-

Intl



1,430



1,276

12.1%

3.9%

8.2%

WW



2,423



2,271

6.7%

2.1%

4.6%

ADVANCED















US



393



392

0.3%

0.3%

-

Intl



573



485

18.1%

9.4%

8.7%

WW



966



877

10.1%

5.3%

4.8%

GENERAL















US



423



423

0.0%

0.0%

-

Intl



704



651

8.1%

0.0%

8.1%

WW



1,127



1,074

4.9%

0.0%

4.9%

SPECIALTY















US



177



180

-1.7%

-1.7%

-

Intl



153



140

9.3%

2.7%

6.6%

WW



330



320

3.1%

0.2%

2.9%

VISION CARE(7)















US



440



305

44.3%

44.3%

-

Intl



675



493

36.9%

28.3%

8.6%

WW



1,115



798

39.7%

34.4%

5.3%

CONTACT LENSES / OTHER















US



309



256

20.7%

20.7%

-

Intl



498



427

16.6%

9.3%

7.3%

WW



807



683

18.2%

13.6%

4.6%

SURGICAL















US



131



49

*

*

-

Intl



177



66

*

*

 * 

WW



308



115

*

*

 * 

















TOTAL MEDICAL DEVICES















US



3,161



3,092

2.2%

2.2%

-

Intl



3,606



3,201

12.7%

4.2%

8.5%

WW



$       6,767



6,293

7.5%

3.2%

4.3%

































* 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) Products acquired from Actelion acquisition on June 16, 2017

(5) Prior year amounts have been reclassified to conform to current year product disclosure 

(6) All sales related to the Cerenovus business (previously included in Spine & Other in Orthopaedics) were reclassified to Interventional Solutions (previously referred to as Cardiovascular). See supplemental schedule. 

(7) Includes products acquired from Abbott Medical Optics (AMO) acquisition on February 27, 2017

     

 

 (PRNewsfoto/Johnson & Johnson)

 

 

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2018-first-quarter-results-300631118.html

SOURCE Johnson & Johnson

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