Johnson & Johnson Reports 2019 Fourth-Quarter And Full Year Results:

NEW BRUNSWICK, N.J., Jan. 22, 2020 /PRNewswire/ -- Johnson & Johnson JNJ today announced results for fourth-quarter and full year 2019. "We delivered strong underlying sales and earnings growth in 2019, driven by the strength of our Pharmaceutical business, accelerating performance in our Medical Devices business and improved profitability in our Consumer business," said Alex Gorsky, Chairman and Chief Executive Officer. "As we enter into 2020 and this next decade, our strategic investments focused on advancing our pipelines and driving innovation across our entire product portfolio, position us well to deliver long-term sustainable growth and value to our shareholders."

Mr. Gorsky continued, "I am extremely proud of our talented and dedicated colleagues who live Our Credo values each and every day, and are inspired to deliver transformative healthcare solutions that improve the lives of our patients and consumers around the world."

OVERALL FINANCIAL RESULTS:



FOURTH QUARTER





TWELVE MONTHS



($ in Millions, except EPS)

2019

2018

%  Change



2019

2018

%  Change

Reported Sales

$       20,747

$       20,394

1.7%



$       82,059

$       81,581

0.6%

Net Earnings

4,010

3,042

31.8%



15,119

15,297

(1.2)%

EPS (diluted)

$           1.50

$           1.12

33.9%



$           5.63

$           5.61

0.4%

















Non-GAAP*

FOURTH QUARTER





TWELVE MONTHS



($ in Millions, except EPS)

2019

2018

%  Change



2019

2018

%  Change

Operational Sales1,2

n/a

n/a

2.6%



n/a

n/a

2.8%

Adjusted Operational Sales1,3

n/a

n/a

3.4%



n/a

n/a

4.5%

Adjusted Net Earnings1,4

5,027

5,372

(6.4)%



23,310

22,315

4.5%

Adjusted EPS (diluted)1,4

$           1.88

$           1.97

(4.6)%



$           8.68

$           8.18

6.1%



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

2 Excludes the impact of translational currency

3 Excludes the net impact of acquisitions and divestitures and translational currency

4 Excludes intangible amortization expense and special items

 

REGIONAL SALES RESULTS: 



FOURTH QUARTER

%  Change

($ in Millions)

2019

2018

Reported

Operational1,2

Currency

Adjusted

Operational1,3

U.S.

$       10,774

$       10,629

1.4%

1.4

-

2.7

International

9,973

9,765

2.1%

4.0

(1.9)

4.1

Worldwide

$       20,747

$       20,394

1.7%

2.6

(0.9)

3.4













































TWELVE MONTHS

%  Change

($ in Millions)

2019

2018



Reported



Operational1,2

Currency

Adjusted

Operational1,3

U.S.

$       42,097

$       41,884

0.5%

0.5

-

2.3

International

39,962

39,697

0.7%

5.3

(4.6)

6.7

Worldwide

$       82,059

$       81,581

0.6%

2.8

(2.2)

4.5



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:



FOURTH QUARTER

%  Change

($ in Millions)

2019

2018

Reported



Operational1,2

Currency

Adjusted 

Operational1,3

Consumer

$         3,567

$         3,536

0.9%

2.1

(1.2)

1.4

Pharmaceutical

10,548

10,190

3.5%

4.4

(0.9)

4.5

Medical Devices

6,632

6,668

(0.5)%

0.2

(0.7)

2.7

Worldwide

$       20,747

$       20,394

1.7%

2.6

(0.9)

3.4































TWELVE MONTHS

%  Change



($ in Millions)

2019

2018

Reported

Operational1,2

Currency

Adjusted

Operational1,3

Consumer

$       13,898

$       13,853

0.3%

3.0

(2.7)

1.4

Pharmaceutical

42,198

40,734

3.6%

5.8

(2.2)

5.8

Medical Devices

25,963

26,994

(3.8)%

(1.7)

(2.1)

3.9

Worldwide

$       82,059

$       81,581

0.6%

2.8

(2.2)

4.5

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

FULL-YEAR 2019 SEGMENT COMMENTARY:

Consumer

Consumer worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 1.4%* driven by NEUTROGENA beauty products and over-the-counter products including TYLENOL and MOTRIN analgesics, partially offset by lower sales of baby care products.

Pharmaceutical

Pharmaceutical worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 5.8%* 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, and ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer.  This growth was 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

Medical Devices worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 3.9%* driven by electrophysiology products in the Interventional Solutions business, international energy and endocutter products in the Advanced Surgery business, and ACUVUE contact lenses in the Vision 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.

Regulatory Approvals

DARZALEX (daratumumab) - European Commission Approves Combination with Bortezomib, Thalidomide and Dexamethasone for Patients with Newly Diagnosed Multiple Myeloma Who Are Transplant Eligible1

(press release)

SPRAVATO (esketamine) Nasal Spray - Approved in Europe for Adults with Treatment-Resistant Major Depressive Disorder

(press release)

DARZALEX (daratumumab) - European Commission Approves Combination with Lenalidomide and Dexamethasone for Patients with Newly Diagnosed Multiple Myeloma Who Are Transplant Ineligible

(press release)

STELARA (ustekinumab) - U.S. FDA Approval for the Treatment of Adults with Moderately to Severely Active Ulcerative Colitis

(press release)

Regulatory Submissions

SPRAVATO (esketamine) - Submission of a Type II Variation Application to the European Medicines Agency (EMA) Seeking Expanded Use as a Treatment for Depressive Symptoms in Adults with Major Depressive Disorder Who Have Current Suicidal Ideation with Intent1

(press release)

IMBRUVICA (ibrutinib) - Supplemental NDA Submitted to U.S. FDA and Type II Variation Submitted to EMA1 Seeking Approval of Combination with Rituximab for Previously Untreated Patients with CLL

(press release)

(press release)

Ebola Vaccine Regimen - Submission of MAA to EMA for Prevention of Ebola Virus Disease (EVD) caused by Zaire Ebolavirus Species.

(press release)

TREMFYA (guselkumab) - Submission of a Type II Variation Application to the EMA Seeking to Expand Use in the Treatment of Adults with Active Psoriatic Arthritis

(press release)

Other

Completion of Acquisition of Bermekimab, an investigational compound for multiple dermatological indications, from XBiotech Inc. 1

(press release)

Rilpivirine and Cabotegravir - U.S. FDA issues Complete Response Letter Issued for Investigational Two-Drug Long-Acting HIV Regimen

(press release)

Completion of Acquisition of TARIS Biomedical with Focus on Transforming the Treatment of Bladder Cancer

(press release)

Agreement Announced to Acquire Remaining Stake in Verb Surgical Inc.

(press release)

BCMA CAR-T Therapy Granted U.S. FDA Breakthrough Therapy Designation for the Treatment of Relapsed or Refractory Multiple Myeloma

(press release)

J&J Vision Introduces TECNIS Toric II 1-Piece IOL as New Monofocal Option for Cataract Patients with Astigmatism

(press release)

Ethicon Launches VISTASEAL Fibrin Sealant (Human) To Manage Bleeding During Surgery

(press release)

New Cervical Spine System from DePuy Synthes Advances Treatment Options for Patients with Complex Cervical Spine Disorders

(press release)

1 Subsequent to the quarter

 

FULL-YEAR 2020 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.



January 2020

($ in Billions, except EPS)



Adjusted Operational Sales1,2

Change vs. Prior Year

5.0% - 6.0%

Operational Sales2

Change vs. Prior Year

$85.8 to $86.6

4.5% - 5.5%

Estimated Reported Sales3

Change vs. Prior Year

$85.4 to $86.2

4.0% - 5.0%





Adjusted Operational EPS (Diluted)2,4

Change vs. Prior Year

$9.00 to $9.15

3.7% - 5.4%

Adjusted EPS (Diluted)3,4

Change vs. Prior Year

$8.95 to $9.10

3.1% - 4.8%

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

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

3 Calculated using Euro Average Rate: January 2020 = $1.11 (Illustrative purposes only)

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 8:00 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)

FOURTH QUARTER



TWELVE 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.

$      1,470



1,479



(0.6)

%

(0.6)



-



$      5,839



5,761



1.4

%

1.4



-

    International

2,097



2,057



2.0



4.0



(2.0)



8,059



8,092



(0.4)



4.2



(4.6)



3,567



3,536



0.9



2.1



(1.2)



13,898



13,853



0.3



3.0



(2.7)









































Pharmaceutical







































    U.S.

6,169



5,936



3.9



3.9



-



23,874



23,286



2.5



2.5



-

    International

4,379



4,254



2.9



5.1



(2.2)



18,324



17,448



5.0



10.1



(5.1)



10,548



10,190



3.5



4.4



(0.9)



42,198



40,734



3.6



5.8



(2.2)









































Medical Devices







































    U.S.

3,135



3,214



(2.4)



(2.4)



-



12,384



12,837



(3.5)



(3.5)



-

    International

3,497



3,454



1.3



2.7



(1.4)



13,579



14,157



(4.1)



(0.1)



(4.0)



6,632



6,668



(0.5)



0.2



(0.7)



25,963



26,994



(3.8)



(1.7)



(2.1)









































U.S.

10,774



10,629



1.4



1.4



-



42,097



41,884



0.5



0.5



-

International

9,973



9,765



2.1



4.0



(1.9)



39,962



39,697



0.7



5.3



(4.6)

Worldwide

$    20,747



20,394



1.7

%

2.6



(0.9)



$    82,059



81,581



0.6

%

2.8



(2.2)









































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)

FOURTH QUARTER



TWELVE MONTHS











Percent Change











Percent Change



2019



2018



Total



Operations



Currency



2019



2018



Total



Operations



Currency

Sales to customers by







































geographic area















































































U.S.

$  10,774



10,629



1.4

%

1.4



-



$  42,097



41,884



0.5

%

0.5



-









































Europe

4,663



4,730



(1.4)



1.0



(2.4)



18,466



18,753



(1.5)



3.8



(5.3)

Western Hemisphere excluding U.S.

1,495



1,456



2.6



9.3



(6.7)



5,941



6,113



(2.8)



5.7



(8.5)

Asia-Pacific, Africa

3,815



3,579



6.6



5.8



0.8



15,555



14,831



4.9



6.9



(2.0)

International

9,973



9,765



2.1



4.0



(1.9)



39,962



39,697



0.7



5.3



(4.6)









































Worldwide

$  20,747



20,394



1.7

%

2.6



(0.9)



$  82,059



81,581



0.6

%

2.8



(2.2)









































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)

FOURTH QUARTER























2019



2018



Percent







Percent







Percent



Increase



Amount



to Sales



Amount



to Sales



(Decrease)

Sales to customers

$ 20,747



100.0



$ 20,394



100.0



1.7

Cost of products sold

7,134



34.4



6,961



34.1



2.5

Gross Profit

13,613



65.6



13,433



65.9



1.3

Selling, marketing and administrative expenses

6,039



29.1



5,991



29.4



0.8

Research and development expense

3,232



15.6



3,224



15.8



0.2

Interest (income) expense, net

4



0.0



54



0.3





Other (income) expense, net

16



0.1



978



4.8





Restructuring

104



0.5



64



0.3





Earnings before provision for taxes on income

4,218



20.3



3,122



15.3



35.1

Provision for taxes on income

208



1.0



80



0.4



160.0

Net earnings

$   4,010



19.3



$   3,042



14.9



31.8





















Net earnings per share (Diluted)

$     1.50







$     1.12







33.9





















Average shares outstanding (Diluted)

2,669.1







2,724.0





























Effective tax rate

4.9

%





2.6

%



























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



















Earnings before provision for taxes on income

$   5,628



27.1



$   6,046



29.6



(6.9)

Net earnings

$   5,027



24.2



$   5,372



26.3



(6.4)

Net earnings per share (Diluted)

$     1.88







$     1.97







(4.6)

Effective tax rate

10.7

%





11.1

%



























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



















 

 

Johnson & Johnson and Subsidiaries



















Condensed Consolidated Statement of Earnings







































(Unaudited; in Millions Except Per Share Figures)

TWELVE MONTHS























2019



2018



Percent







Percent







Percent



Increase



Amount



to Sales



Amount



to Sales



(Decrease)

Sales to customers

$ 82,059



100.0



$ 81,581



100.0



0.6

Cost of products sold

27,556



33.6



27,091



33.2



1.7

Gross Profit

54,503



66.4



54,490



66.8



0.0

Selling, marketing and administrative expenses

22,178



27.0



22,540



27.6



(1.6)

Research and development expense

11,355



13.8



10,775



13.2



5.4

In-process research and development

890



1.1



1,126



1.4





Interest (income) expense, net

(39)



0.0



394



0.5





Other (income) expense, net

2,525



3.1



1,405



1.7





Restructuring

266



0.3



251



0.3





Earnings before provision for taxes on income

17,328



21.1



17,999



22.1



(3.7)

Provision for taxes on income

2,209



2.7



2,702



3.3



(18.2)

Net earnings

$ 15,119



18.4



$ 15,297



18.8



(1.2)





















Net earnings per share (Diluted)

$     5.63







$     5.61







0.4





















Average shares outstanding (Diluted)

2,684.3







2,728.7





























Effective tax rate

12.7

%





15.0

%



























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



















Earnings before provision for taxes on income

$ 28,225



34.4



$ 26,698



32.7



5.7

Net earnings

$ 23,310



28.4



$ 22,315



27.4



4.5

Net earnings per share (Diluted)

$     8.68







$     8.18







6.1

Effective tax rate

17.4

%





16.4

%



























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



















 

 

Johnson & Johnson and Subsidiaries





























Reconciliation of Non-GAAP Financial Measures

































Fourth Quarter



% Incr. /





Twelve Months



% Incr. /



(Dollars in Millions Except Per Share Data)



2019



2018



(Decr.)





2019



2018



(Decr.)

































Earnings before provision for taxes on income - as reported



$        4,218



3,122



35.1

%



$    17,328



17,999



(3.7)

%

Litigation expense, net



264



1,288









5,096



1,991







Intangible asset amortization expense



1,142



1,073









4,528



4,357







In-process research and development



-



-









890



1,126







Restructuring/Other (1)



251



227









611



700







Actelion acquisition related cost



62



43









185



243







Auris Health acquisition related cost



16



-









72



-







AMO acquisition related cost



12



27









62



109







Unrealized loss/(gain) on securities



(350)



182









(567)



179







Contingent liability reversal



-



-









-



(184)







Tax legislation and related impacts



-



72









-



72







Other



13



12









20



106





































Earnings before provision for taxes on income - as adjusted



$        5,628



6,046



(6.9)

%



$    28,225



26,698



5.7

%































Net Earnings - as reported



$        4,010



3,042



31.8

%



$    15,119



15,297



(1.2)

%

Litigation expense, net



251



1,113









4,015



1,722







Intangible asset amortization expense



1,008



957









3,844



3,888







In-process research and development



-



-









703



859







Restructuring/Other



214



190









511



585







Actelion acquisition related cost



58



39









172



232







Auris Health acquisition related cost



12



-









56



-







AMO acquisition related cost



12



21









52



89







Unrealized loss/(gain) on securities



(277)



143









(448)



141







Contingent liability reversal



-



-









-



(184)







Tax legislation and related impacts (2)



(184)



(137)









(575)



(390)







Other



(77)



4









(139)



76





































Net Earnings - as adjusted



$        5,027



5,372



(6.4)

%



$    23,310



22,315



4.5

%































Diluted Net Earnings per share - as reported



$          1.50



1.12



33.9

%



$        5.63



5.61



0.4

%































Litigation expense, net



0.10



0.41









1.50



0.63







Intangible asset amortization expense



0.38



0.35









1.43



1.42







In-process research and development



-



-









0.26



0.32







Restructuring/Other



0.08



0.07









0.19



0.21







Actelion acquisition related cost



0.02



0.01









0.06



0.09







Auris Health acquisition related cost



-



-









0.02



-







AMO acquisition related cost



-



0.01









0.02



0.03







Unrealized loss/(gain) on securities



(0.10)



0.05









(0.17)



0.05







Contingent liability reversal



-



-









-



(0.07)







Tax legislation and related impacts



(0.07)



(0.05)









(0.21)



(0.14)







Other



(0.03)



-









(0.05)



0.03





































Diluted Net Earnings per share - as adjusted



$          1.88



1.97



(4.6)

%



$        8.68



8.18



6.1

%































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







2.02













8.06





































Impact of currency at 2018 foreign currency exchange rates



0.03



(0.05)









0.22



0.12





































Operational Diluted Net Earnings per share - as adjusted at 2018 foreign currency exchange rates



$          1.91



1.97



(3.0)

%



$        8.90



8.18



8.8

%





























































(1) Includes $70M recorded in cost of products sold and $77M recorded in other (income) expense for the fourth quarter 2019, and $32M recorded in cost of products sold







     and $131M recorded in other (income) expense for the fourth quarter 2018.



























     Includes $151M recorded in cost of products sold and $194M recorded in other (income) expense for twelve months YTD 2019, and $105M recorded in cost of products sold





     and $344M recorded in other (income) expense for twelve months YTD 2018.

























































(2) Includes foreign currency translation





























 

 

 

Johnson & Johnson and Subsidiaries

















Reconciliation of Non-GAAP Financial Measure



































Adjusted Operational Sales Growth

 FOURTH QUARTER 2019 ACTUAL vs. 2018 ACTUAL 





































 Segments 











 Consumer 



 Pharmaceutical 



 Medical Devices 



 Total 

 WW As Reported 



0.9%



3.5%



(0.5)%



1.7%

 U.S. 



(0.6)%



3.9%



(2.4)%



1.4%

 International 



2.0%



2.9%



1.3%



2.1%



















 WW Currency 



(1.2)



(0.9)



(0.7)



(0.9)

 U.S. 



-



-



-



-

 International 



(2.0)



(2.2)



(1.4)



(1.9)



















 WW Operational 



2.1%



4.4%



0.2%



2.6%

 U.S. 



(0.6)%



3.9%



(2.4)%



1.4%

 International 



4.0%



5.1%



2.7%



4.0%



















Beauty

















RoC



0.6











0.1

 U.S. 



1.4











0.2

 International 



0.0











0.0



















Beauty

















Dr. Ci Labo - Japan



(1.7)











(0.3)

 U.S. 



0.0











0.0

 International 



(2.9)











(0.6)



















Specialty Surgery

















Advanced Sterilization Products











2.4



0.8

 U.S. 











3.0



0.9

 International 











2.0



0.7



















Baby Care

















Baby Center



0.3











0.1

 U.S. 



0.8











0.1

 International 



0.0











0.0



















All Other Acquisitions and Divestitures



0.0



0.1



0.1



0.1

 U.S. 



0.0



0.1



0.0



0.1

 International 



0.1



0.0



0.1



0.1



















WW Adjusted Operational



1.4%



4.5%



2.7%



3.4%

 U.S. 



1.6%



4.1%



0.6%



2.7%

 International 



1.3%



5.1%



4.7%



4.1%



















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

 TWELVE MONTHS 2019 ACTUAL vs. 2018 ACTUAL 





















 Segments 























 Consumer 



 Pharmaceutical 



 Medical Devices



 Total 

 WW As Reported 



0.3%



3.6%



(3.8)%



0.6%

 U.S. 



1.4%



2.5%



(3.5)%



0.5%

 International 



(0.4)%



5.0%



(4.1)%



0.7%



















 WW Currency 



(2.7)



(2.2)



(2.1)



(2.2)

 U.S. 



-



-



-



-

 International 



(4.6)



(5.1)



(4.0)



(4.6)



















 WW Operational 



3.0%



5.8%



(1.7)%



2.8%

 U.S. 



1.4%



2.5%



(3.5)%



0.5%

 International 



4.2%



10.1%



(0.1)%



5.3%



















Beauty

















Nizoral



0.2











0.0

 U.S. 



0.1











0.0

 International 



0.3











0.1



















OTC

















Zarbees



(0.4)











(0.1)

 U.S. 



(1.1)











(0.1)

 International 



0.0











0.0



















Diabetes Care

















LifeScan











3.8



1.3

 U.S. 











2.9



0.9

 International 











4.6



1.7



















Beauty

















RoC



0.7











0.1

 U.S. 



1.3











0.2

 International 



0.2











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











1.6



0.6

 U.S. 











2.2



0.7

 International 











1.0



0.4



















Baby Care

















Baby Center



0.1











0.0

 U.S. 



0.3











0.0

 International 



0.0











0.0



















All Other Acquisitions and Divestitures



0.1



0.0



0.1



0.1

 U.S. 



0.0



0.1



0.1



0.1

 International 



0.1



0.0



0.1



0.1



















WW Adjusted Operational



1.4%



5.8%



3.9%



4.5%

 U.S. 



2.1%



2.7%



1.8%



2.3%

 International 



1.0%



10.1%



5.7%



6.7%



















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





 

 



REPORTED SALES vs. PRIOR PERIOD ($MM)



FOURTH QUARTER



TWELVE MONTHS











% Change











% Change





2019



2018

Reported

Operational (1)

Currency





2019



2018

Reported

Operational (1)

Currency

CONSUMER SEGMENT (2)































BABY CARE































US



$            85



116

-26.7%

-26.7%

-





$          362



422

-14.2%

-14.2%

-

Intl



336



357

-5.9%

-3.7%

-2.2%





1,313



1,436

-8.6%

-3.7%

-4.9%

WW



421



473

-11.0%

-9.3%

-1.7%





1,675



1,858

-9.9%

-6.1%

-3.8%

BEAUTY































US



582



612

-4.9%

-4.9%

-





2,392



2,403

-0.4%

-0.4%

-

Intl



568



499

13.8%

15.6%

-1.8%





2,201



1,979

11.2%

15.3%

-4.1%

WW



1,150



1,111

3.5%

4.3%

-0.8%





4,593



4,382

4.8%

6.7%

-1.9%

ORAL CARE































US



159



165

-3.6%

-3.6%

-





621



637

-2.5%

-2.5%

-

Intl



233



234

0.2%

2.2%

-2.0%





906



918

-1.2%

3.3%

-4.5%

WW



393



399

-1.4%

-0.2%

-1.2%





1,528



1,555

-1.7%

0.9%

-2.6%

OTC































US



542



491

10.3%

10.3%

-





2,010



1,850

8.6%

8.6%

-

Intl



653



657

-0.6%

0.8%

-1.4%





2,434



2,484

-2.0%

2.2%

-4.2%

WW



1,195



1,148

4.1%

4.9%

-0.8%





4,444



4,334

2.5%

4.9%

-2.4%

WOMEN'S HEALTH































US



3



3

-11.8%

-11.8%

-





12



13

-5.5%

-5.5%

-

Intl



250



254

-1.5%

3.1%

-4.6%





974



1,036

-6.0%

1.1%

-7.1%

WW



253



257

-1.6%

2.9%

-4.5%





986



1,049

-6.0%

1.0%

-7.0%

WOUND CARE / OTHER































US



98



92

7.5%

7.5%

-





441



436

1.2%

1.2%

-

Intl



57



56

-0.4%

0.6%

-1.0%





230



239

-3.9%

-0.7%

-3.2%

WW



155



148

4.5%

4.8%

-0.3%





671



675

-0.6%

0.5%

-1.1%

































TOTAL CONSUMER































US



1,470



1,479

-0.6%

-0.6%

-





5,839



5,761

1.4%

1.4%

-

Intl



2,097



2,057

2.0%

4.0%

-2.0%





8,059



8,092

-0.4%

4.2%

-4.6%

WW



$       3,567



3,536

0.9%

2.1%

-1.2%





$     13,898



13,853

0.3%

3.0%

-2.7%

































































See footnotes at end of schedule































 



REPORTED SALES vs. PRIOR PERIOD ($MM)



FOURTH QUARTER



TWELVE MONTHS











% Change











% Change





2019



2018

Reported

Operational (1)

Currency





2019



2018

Reported

Operational (1)

Currency

PHARMACEUTICAL SEGMENT (2)































IMMUNOLOGY































US



$       2,517



2,356

6.8%

6.8%

-





$       9,641



9,073

6.3%

6.3%

-

Intl



1,005



986

1.9%

4.3%

-2.4%





4,309



4,047

6.5%

11.6%

-5.1%

WW



3,522



3,342

5.4%

6.1%

-0.7%





13,950



13,120

6.3%

7.9%

-1.6%

REMICADE































US



755



843

-10.4%

-10.4%

-





3,079



3,664

-16.0%

-16.0%

-

US Exports (3)



68



90

-25.0%

-25.0%

-





294



436

-32.7%

-32.7%

-

Intl



212



305

-30.4%

-28.9%

-1.5%





1,007



1,226

-17.8%

-13.7%

-4.1%

WW



1,035



1,238

-16.4%

-16.0%

-0.4%





4,380



5,326

-17.8%

-16.8%

-1.0%

SIMPONI / SIMPONI ARIA































US



302



272

10.7%

10.7%

-





1,159



1,051

10.2%

10.2%

-

Intl



213



210

1.4%

3.7%

-2.3%





1,029



1,033

-0.4%

4.4%

-4.8%

WW



515



482

6.6%

7.6%

-1.0%





2,188



2,084

5.0%

7.3%

-2.3%

STELARA































US



1,194



1,009

18.4%

18.4%

-





4,346



3,469

25.3%

25.3%

-

Intl



506



435

16.3%

19.1%

-2.8%





2,015



1,687

19.4%

25.1%

-5.7%

WW



1,700



1,444

17.7%

18.6%

-0.9%





6,361



5,156

23.4%

25.2%

-1.8%

TREMFYA































US



199



142

39.7%

39.7%

-





764



453

68.5%

68.5%

-

Intl



71



33

*

*

*





248



91

*

*

*

WW



270



175

53.9%

55.1%

-1.2%





1,012



544

85.9%

87.7%

-1.8%

OTHER IMMUNOLOGY































US



-



-

-

-

-





-



-

-

-

-

Intl



2



3

-22.4%

-24.0%

1.6%





10



10

4.5%

4.7%

-0.2%

WW



2



3

-22.4%

-24.0%

1.6%





10



10

4.5%

4.7%

-0.2%

INFECTIOUS DISEASES































US



435



372

17.1%

17.1%

-





1,597



1,378

15.9%

15.9%

-

Intl



430



430

0.2%

3.0%

-2.8%





1,815



1,926

-5.7%

-0.2%

-5.5%

WW



866



802

8.0%

9.6%

-1.6%





3,413



3,304

3.3%

6.5%

-3.2%

EDURANT / rilpivirine































US



14



16

-12.3%

-12.3%

-





50



58

-13.7%

-13.7%

-

Intl



209



177

17.7%

20.9%

-3.2%





812



758

7.1%

12.7%

-5.6%

WW



222



193

15.2%

18.2%

-3.0%





861



816

5.6%

10.8%

-5.2%

PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA































US



390



322

21.0%

21.0%

-





1,422



1,169

21.6%

21.6%

-

Intl



155



173

-10.7%

-7.8%

-2.9%





689



786

-12.3%

-6.8%

-5.5%

WW



544



495

9.9%

10.9%

-1.0%





2,110



1,955

8.0%

10.2%

-2.2%

OTHER INFECTIOUS DISEASES































US



32



34

-5.8%

-5.8%

-





126



151

-16.5%

-16.5%

-

Intl



67



80

-15.4%

-13.3%

-2.1%





315



382

-17.6%

-12.3%

-5.3%

WW



99



114

-12.5%

-11.0%

-1.5%





441



533

-17.3%

-13.5%

-3.8%

































See footnotes at end of schedule































 



REPORTED SALES vs. PRIOR PERIOD ($MM)



FOURTH QUARTER



TWELVE MONTHS











% Change











% Change





2019



2018

Reported

Operational (1)

Currency





2019



2018

Reported

Operational (1)

Currency

NEUROSCIENCE































US



747



660

13.2%

13.2%

-





2,919



2,574

13.4%

13.4%

-

Intl



819



840

-2.5%

-1.2%

-1.3%





3,409



3,503

-2.7%

1.5%

-4.2%

WW



1,566



1,500

4.4%

5.2%

-0.8%





6,328



6,077

4.1%

6.6%

-2.5%

CONCERTA / methlyphenidate































US



37



38

-4.4%

-4.4%

-





233



229

1.7%

1.7%

-

Intl



115



112

2.4%

3.0%

-0.6%





463



434

6.6%

10.3%

-3.7%

WW



152



150

0.7%

1.1%

-0.4%





696



663

4.9%

7.3%

-2.4%

INVEGA SUSTENNA / XEPLION /

INVEGA TRINZA / TREVICTA































US



564



485

16.2%

16.2%

-





2,107



1,791

17.6%

17.6%

-

Intl



308



278

10.7%

13.2%

-2.5%





1,224



1,137

7.7%

13.0%

-5.3%

WW



871



763

14.2%

15.1%

-0.9%





3,330



2,928

13.7%

15.8%

-2.1%

RISPERDAL CONSTA































US



77



77

0.3%

0.3%

-





314



315

-0.3%

-0.3%

-

Intl



82



101

-18.9%

-17.0%

-1.9%





374



422

-11.4%

-6.5%

-4.9%

WW



160



178

-10.6%

-9.5%

-1.1%





688



737

-6.7%

-3.9%

-2.8%

OTHER NEUROSCIENCE































US



70



60

16.7%

16.7%

-





266



239

11.4%

11.4%

-

Intl



314



349

-9.9%

-9.3%

-0.6%





1,349



1,510

-10.7%

-7.4%

-3.3%

WW



383



409

-6.1%

-5.5%

-0.6%





1,614



1,749

-7.7%

-4.9%

-2.8%

ONCOLOGY































US



1,153



1,063

8.5%

8.5%

-





4,299



4,331

-0.7%

-0.7%

-

Intl



1,563



1,426

9.6%

12.2%

-2.6%





6,393



5,513

16.0%

21.8%

-5.8%

WW



2,716



2,489

9.1%

10.6%

-1.5%





10,692



9,844

8.6%

11.9%

-3.3%

DARZALEX































US



444



323

37.8%

37.8%

-





1,567



1,203

30.3%

30.3%

-

Intl



385



261

47.5%

52.8%

-5.3%





1,430



822

73.9%

84.1%

-10.2%

WW



830



584

42.1%

44.5%

-2.4%





2,998



2,025

48.0%

52.2%

-4.2%

IMBRUVICA































US



392



318

22.8%

22.8%

-





1,555



1,129

37.7%

37.7%

-

Intl



483



385

25.9%

29.7%

-3.8%





1,856



1,486

24.9%

32.1%

-7.2%

WW



875



703

24.5%

26.6%

-2.1%





3,411



2,615

30.4%

34.5%

-4.1%

VELCADE































US



-



-

-

-

-





-



-

-

-

-

Intl



115



252

-54.6%

-55.2%

0.6%





751



1,116

-32.7%

-30.1%

-2.6%

WW



115



252

-54.6%

-55.2%

0.6%





751



1,116

-32.7%

-30.1%

-2.6%

ZYTIGA / abiraterone acetate































US



194



351

-44.8%

-44.8%

-





810



1,771

-54.3%

-54.3%

-

Intl



483



435

11.2%

12.9%

-1.7%





1,985



1,727

15.0%

19.8%

-4.8%

WW



677



786

-13.8%

-12.9%

-0.9%





2,795



3,498

-20.1%

-17.7%

-2.4%

OTHER ONCOLOGY































US



122



71

75.1%

75.1%

-





367



228

61.0%

61.0%

-

Intl



97



93

3.0%

5.9%

-2.9%





371



362

2.4%

8.1%

-5.7%

WW



220



164

33.7%

35.4%

-1.7%





739



590

25.0%

28.6%

-3.6%

PULMONARY HYPERTENSION































US



388



436

-11.1%

-11.1%

-





1,684



1,651

2.0%

2.0%

-

Intl



235



231

1.6%

3.1%

-1.5%





939



922

1.9%

6.3%

-4.4%

WW



623



667

-6.7%

-6.2%

-0.5%





2,623



2,573

1.9%

3.5%

-1.6%

OPSUMIT































US



185



189

-2.4%

-2.4%

-





766



700

9.4%

9.4%

-

Intl



143



134

5.8%

7.5%

-1.7%





562



515

9.0%

14.1%

-5.1%

WW



326



323

1.0%

1.7%

-0.7%





1,327



1,215

9.2%

11.4%

-2.2%

TRACLEER / bosentan































US



10



60

-83.3%

-83.3%

-





131



268

-51.1%

-51.1%

-

Intl



46



64

-27.6%

-28.8%

1.2%





210



278

-24.3%

-22.6%

-1.7%

WW



56



124

-54.8%

-55.4%

0.6%





341



546

-37.5%

-36.6%

-0.9%

UPTRAVI































US



178



165

7.4%

7.4%

-





714



598

19.3%

19.3%

-

Intl



30



16

92.5%

99.5%

-7.0%





105



65

62.4%

70.7%

-8.3%

WW



208



181

14.8%

15.4%

-0.6%





819



663

23.5%

24.3%

-0.8%

OTHER































US



16



22

-27.7%

-27.7%

-





74



85

-13.7%

-13.7%

-

Intl



16



17

-5.9%

-2.4%

-3.5%





62



64

-3.7%

3.3%

-7.0%

WW



32



39

-18.1%

-16.5%

-1.6%





135



149

-9.4%

-6.4%

-3.0%

CARDIOVASCULAR / METABOLISM / OTHER































US



930



1,049

-11.4%

-11.4%

-





3,734



4,279

-12.7%

-12.7%

-

Intl



327



341

-4.4%

-3.5%

-0.9%





1,458



1,537

-5.2%

-1.3%

-3.9%

WW



1,256



1,390

-9.7%

-9.5%

-0.2%





5,192



5,816

-10.7%

-9.7%

-1.0%

XARELTO































US



609



608

0.4%

0.4%

-





2,313



2,477

-6.6%

-6.6%

-

Intl



-



-

-

-

-





-



-

-

-

-

WW



609



608

0.4%

0.4%

-





2,313



2,477

-6.6%

-6.6%

-

INVOKANA / INVOKAMET































US



125



188

-33.8%

-33.8%

-





536



711

-24.6%

-24.6%

-

Intl



52



40

33.7%

36.0%

-2.3%





199



170

17.3%

22.1%

-4.8%

WW



177



228

-22.2%

-21.8%

-0.4%





735



881

-16.5%

-15.6%

-0.9%

PROCRIT / EPREX































US



118



151

-21.6%

-21.6%

-





505



674

-25.1%

-25.1%

-

Intl



65



70

-7.1%

-7.0%

-0.1%





285



314

-9.2%

-6.5%

-2.7%

WW



183



221

-17.0%

-16.9%

-0.1%





790



988

-20.0%

-19.2%

-0.8%

OTHER































US



78



102

-25.0%

-25.0%

-





380



417

-9.1%

-9.1%

-

Intl



209



231

-10.0%

-9.1%

-0.9%





974



1,053

-7.6%

-3.5%

-4.1%

WW



286



333

-14.6%

-14.0%

-0.6%





1,353



1,470

-8.0%

-5.1%

-2.9%

TOTAL PHARMACEUTICAL































US



6,169



5,936

3.9%

3.9%

-





23,874



23,286

2.5%

2.5%

-

Intl



4,379



4,254

2.9%

5.1%

-2.2%





18,324



17,448

5.0%

10.1%

-5.1%

WW



$     10,548



10,190

3.5%

4.4%

-0.9%





$     42,198



40,734

3.6%

5.8%

-2.2%

































See footnotes at end of schedule































 

 



REPORTED SALES vs. PRIOR PERIOD ($MM)



FOURTH QUARTER



TWELVE MONTHS











% Change











% Change





2019



2018

Reported

Operational (1)

Currency





2019



2018

Reported

Operational (1)

Currency

MEDICAL DEVICES SEGMENT (2)(4)































DIABETES CARE(4)































US



$               -



-

-

-

-





$               -



371

*

*

-

Intl



-



-

-

-

-





-



638

*

*

*

WW



-



-

-

-

-





-



1,009

*

*

*

INTERVENTIONAL SOLUTIONS































US



377



336

12.2%

12.2%

-





1,443



1,283

12.5%

12.5%

-

Intl



398



350

13.4%

14.3%

-0.9%





1,554



1,363

14.0%

17.8%

-3.8%

WW



774



686

12.8%

13.3%

-0.5%





2,997



2,646

13.3%

15.2%

-1.9%

ORTHOPAEDICS































US



1,369



1,358

0.9%

0.9%

-





5,319



5,281

0.7%

0.7%

-

Intl



904



904

-0.1%

1.7%

-1.8%





3,520



3,604

-2.3%

1.9%

-4.2%

WW



2,273



2,262

0.5%

1.2%

-0.7%





8,839



8,885

-0.5%

1.2%

-1.7%

HIPS































US



230



220

4.9%

4.9%

-





863



841

2.6%

2.6%

-

Intl



147



145

1.2%

3.0%

-1.8%





575



577

-0.3%

4.2%

-4.5%

WW



377



365

3.4%

4.2%

-0.8%





1,438



1,418

1.4%

3.3%

-1.9%

KNEES































US



239



239

0.2%

0.2%

-





889



911

-2.4%

-2.4%

-

Intl



156



153

1.5%

3.2%

-1.7%





591



591

0.0%

4.1%

-4.1%

WW



395



392

0.7%

1.4%

-0.7%





1,480



1,502

-1.4%

0.2%

-1.6%

TRAUMA































US



413



403

2.3%

2.3%

-





1,652



1,599

3.3%

3.3%

-

Intl



273



271

0.8%

2.6%

-1.8%





1,068



1,100

-2.9%

1.4%

-4.3%

WW



686



674

1.7%

2.5%

-0.8%





2,720



2,699

0.8%

2.5%

-1.7%

SPINE & OTHER































US



488



496

-1.6%

-1.6%

-





1,915



1,930

-0.8%

-0.8%

-

Intl



329



335

-2.1%

-0.4%

-1.7%





1,286



1,336

-3.8%

0.4%

-4.2%

WW



817



831

-1.8%

-1.1%

-0.7%





3,201



3,266

-2.0%

-0.3%

-1.7%

SURGERY































US



961



1,094

-12.2%

-12.2%

-





3,828



4,125

-7.2%

-7.2%

-

Intl



1,481



1,493

-0.8%

1.2%

-2.0%





5,673



5,776

-1.8%

2.7%

-4.5%

WW



2,442



2,587

-5.6%

-4.4%

-1.2%





9,501



9,901

-4.0%

-1.4%

-2.6%

ADVANCED































US



428



441

-3.0%

-3.0%

-





1,637



1,657

-1.2%

-1.2%

-

Intl



647



614

5.5%

7.6%

-2.1%





2,458



2,345

4.8%

9.4%

-4.6%

WW



1,076



1,055

2.0%

3.2%

-1.2%





4,095



4,002

2.3%

5.0%

-2.7%

GENERAL































US



451



469

-3.9%

-3.9%

-





1,762



1,751

0.6%

0.6%

-

Intl



720



712

1.2%

3.3%

-2.1%





2,718



2,806

-3.1%

1.3%

-4.4%

WW



1,171



1,181

-0.8%

0.4%

-1.2%





4,480



4,557

-1.7%

1.0%

-2.7%

SPECIALTY































US



83



184

-55.3%

-55.3%

-





430



717

-40.1%

-40.1%

-

Intl



114



167

-32.3%

-30.7%

-1.6%





497



625

-20.5%

-16.4%

-4.1%

WW



195



351

-44.4%

-43.6%

-0.8%





926



1,342

-31.0%

-29.0%

-2.0%

VISION































US



428



426

0.3%

0.3%

-





1,794



1,777

0.9%

0.9%

-

Intl



713



707

1.0%

1.2%

-0.2%





2,830



2,776

2.0%

4.9%

-2.9%

WW



1,141



1,133

0.7%

0.9%

-0.2%





4,624



4,553

1.6%

3.3%

-1.7%

CONTACT LENSES / OTHER































US



311



289

7.7%

7.7%

-





1,304



1,237

5.4%

5.4%

-

Intl



522



527

-0.8%

-0.9%

0.1%





2,088



2,065

1.1%

4.0%

-2.9%

WW



833



816

2.2%

2.1%

0.1%





3,392



3,302

2.7%

4.6%

-1.9%

SURGICAL































US



117



137

-15.2%

-15.2%

-





490



540

-9.4%

-9.4%

-

Intl



191



180

6.4%

7.6%

-1.2%





742



711

4.4%

7.3%

-2.9%

WW



309



317

-3.0%

-2.3%

-0.7%





1,232



1,251

-1.6%

0.1%

-1.7%

































TOTAL MEDICAL DEVICES































US



3,135



3,214

-2.4%

-2.4%

-





12,384



12,837

-3.5%

-3.5%

-

Intl



3,497



3,454

1.3%

2.7%

-1.4%





13,579



14,157

-4.1%

-0.1%

-4.0%

WW



$       6,632



6,668

-0.5%

0.2%

-0.7%





$     25,963



26,994

-3.8%

-1.7%

-2.1%

































































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) Reflects LifeScan divestiture October 2, 2018































 

(PRNewsfoto/Johnson & Johnson)

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2019-fourth-quarter-and-full-year-results-300991143.html

SOURCE Johnson & Johnson

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