Johnson & Johnson Reports 2015 First-Quarter Results

Sales of $17.4 Billion decreased 4.1% Versus 2014 First Quarter;
First-Quarter EPS was $1.53
Adjusted 2015 First-Quarter EPS of $1.56 Decreased 4.3%*

 

NEW BRUNSWICK, N.J.April 14, 2015 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced sales of $17.4 billion for the first quarter of 2015, a decrease of 4.1% as compared to the first quarter of 2014. Operational results increased 3.1% and the negative impact of currency was 7.2%. Domestic sales increased 5.9%. International sales decreased 12.4%, reflecting operational growth of 0.8% and a negative currency impact of 13.2%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 5.7%, domestic sales increased 9.1% and international sales increased 3.0%.*

Net earnings and diluted earnings per share for the first quarter of 2015 were $4.3 billion and $1.53, respectively. First-quarter 2015 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a net gain of after-tax special items of approximately $0.1 billion, primarily related to net litigation gains partially offset by costs related to the DePuy ASR™ Hip program. First-quarter 2014 net earnings included after-tax intangible amortization expense of approximately $0.3 billion and a net gain of after-tax special items of approximately $0.3 billion as shown in the accompanying reconciliation of non-GAAP financial measures.  Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $4.4 billion and adjusted diluted earnings per share were $1.56, representing decreases of 5.9% and 4.3%, respectively, as compared to the same period in 2014.*

"The company delivered strong underlying growth in the first quarter driven by new products and the strength of the core business.  Of note is the continued robust growth of the Pharmaceutical business and the solid performance of our Consumer brands," said Alex Gorsky, Chairman and Chief Executive Officer.  "I am proud of our global teams who focus every day on delivering innovative solutions to address evolving health care needs."

The Company updated its adjusted earnings guidance for full-year 2015 to $6.04 - $6.19 per share reflecting further negative foreign currency movements.  The Company's guidance excludes the impact of after-tax intangible amortization expense and special items.

Worldwide Consumer sales of $3.4 billion for the first quarter represented a decrease of 4.7% versus the prior year, consisting of an operational increase of 3.4% and a negative impact from currency of 8.1%. Domestic sales increased 3.8%; international sales decreased 9.7%, which reflected an operational increase of 3.1% and a negative currency impact of 12.8%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 4.7%, domestic sales increased 5.1% and international sales increased 4.5%.*  

Positive contributors to operational results were sales of TYLENOL® and MOTRIN® analgesics, digestive health and international upper-respiratory over-the-counter products; NEUTROGENA® and AVEENO® skin care products; LISTERINE® oral care products; international sales of feminine protection products; and domestic sales of baby care products.

Worldwide Pharmaceutical sales of $7.7 billion for the first quarter represented an increase of 3.0% versus the prior year with operational growth of 10.2% and a negative impact from currency of 7.2%. Domestic sales increased 16.9%; international sales decreased 10.7%, which reflected an operational increase of 3.7% and a negative currency impact of 14.4%.

The strong operational sales results were driven by new products and the strength of core products. New products include INVOKANA®/INVOKAMET® (canagliflozin), for the treatment of adults with type 2 diabetes; XARELTO® (rivaroxaban), an oral anticoagulant; IMBRUVICA® (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, or blood cancers; 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 sales of OLYSIO®(simeprevir), for combination treatment of chronic hepatitis C in adult patients.  New product sales growth was  negatively impacted by lower sales of OLYSIO® (simeprevir) in the U.S. and lower  sales of SOVRIAD® (simeprevir) in Japan due to competitive entrants.

Additional contributors to operational sales growth were STELARA® (ustekinumab), a biologic approved for the treatment of moderate to severe plaque psoriasis and psoriatic arthritis; CONCERTA®(methylphenidate HCI), for the treatment of attention deficit hyperactivity disorder; INVEGA® SUSTENNA®/XEPLION® (paliperidone palmitate), a once-monthly, long-acting, injectable atypical antipsychotic for the treatment of schizophrenia in adults; SIMPONI®/SIMPONI ARIA® (golimumab) and domestic sales of REMICADE® (infliximab), biologics approved for the treatment of a number of immune-mediated inflammatory diseases.

During the quarter, the U.S. Food and Drug Administration (FDA) granted approval of IMBRUVICA® (ibrutinib) for the treatment of Waldenstrom's Macroglobulinemia and for PREZCOBIX™ (darunavir/cobicistat) in combination with other antiretroviral medicinal products for the treatment of human immunodeficiency virus (HIV-1).  The European Commission approved VELCADE® (bortezomib) in combination with rituximab, cyclophosphamide, doxorubicin and prednisone for the treatment of adult patients with previously untreated mantle cell lymphoma.

In addition, the acquisition of XO1 Limited, a privately-held biopharmaceutical company developing the anti-thrombin antibody ichorcumab, was completed. In April, the divestiture of the U.S. license rights to NUCYNTA® (tapentadol), NUCYNTA® ER (tapentadol extended-release tablets), and NUCYNTA® (tapentadol) oral solution was completed for $1.05 billion.

Worldwide Medical Devices sales of $6.3 billion for the first quarter represented a decrease of 11.4% versus the prior year consisting of an operational decrease of 4.6% and a negative currency impact of 6.8%. Domestic sales decreased 6.1%; international sales decreased 15.6%, which reflected an operational decrease of 3.3% and a negative currency impact of 12.3%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.3%, domestic sales increased 1.1% and international sales increased 1.5%.*

Primary contributors to operational growth were sales of Orthopaedic products; electrophysiology products in the Cardiovascular Care business; endocutters in the Surgical Care business; and sales of insulin delivery products in the Diabetes Care business.  Sales results in the Vision Care business were negatively impacted by buying patterns and competitive pricing dynamics.

During the quarter, the Company announced a binding offer from Cardinal Health to acquire its Cordis business for an aggregate value of $1.99 billion.

About Johnson & Johnson

Caring for the world, one person at a time, inspires and unites the people of Johnson & Johnson. We embrace research and science - bringing innovative ideas, products and services to advance the health and well-being of people. Our approximately 127,000 employees at more than 265 Johnson & Johnson operating companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.

* Operational sales growth excluding the net impact of acquisitions and divestitures, as well as adjusted net earnings and 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.  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 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 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

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 and uncertainties inherent in new product development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; the ability of the company to successfully execute strategic plans; impact of business combinations and divestitures; challenges to patents; the impact of patent expirations; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; increased scrutiny of the health care industry by government agencies; and the potential failure to meet obligations in compliance agreements with government bodies. A further list and description 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 28, 2014, including Exhibit 99 thereto, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.govwww.investor.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 & Johnsondoes not undertake to update any forward-looking statements 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

 
   

2015

 

2014

 

Total

 

Operations

 

Currency

 

Sales to customers by

                     

segment of business

                     
                       

Consumer

                     

    U.S.

 

$   1,359

 

1,309

 

3.8

%

3.8

 

-

 

    International

 

2,031

 

2,248

 

(9.7)

 

3.1

 

(12.8)

 
   

3,390

 

3,557

 

(4.7)

 

3.4

 

(8.1)

 
                       

Pharmaceutical

                     

    U.S.

 

4,371

 

3,740

 

16.9

 

16.9

 

-

 

    International

 

3,355

 

3,758

 

(10.7)

 

3.7

 

(14.4)

 
   

7,726

 

7,498

 

3.0

 

10.2

 

(7.2)

 
                       

Medical Devices

                     

    U.S.

 

2,962

 

3,155

 

(6.1)

 

(6.1)

 

-

 

    International

 

3,296

 

3,905

 

(15.6)

 

(3.3)

 

(12.3)

 
   

6,258

 

7,060

 

(11.4)

 

(4.6)

 

(6.8)

 
                       

U.S.

 

8,692

 

8,204

 

5.9

 

5.9

 

-

 

International

 

8,682

 

9,911

 

(12.4)

 

0.8

 

(13.2)

 

Worldwide

 

$ 17,374

 

18,115

 

(4.1)

%

3.1

 

(7.2)

 
                       
                       

 

 

Johnson & Johnson and Subsidiaries

                 

Supplementary Sales Data

                   
                       

(Unaudited; Dollars in Millions)

FIRST QUARTER

 
           

Percent Change

 
   

2015

 

2014

 

Total

 

Operations

 

Currency

 

Sales to customers by

                     

geographic area

                     
                       

U.S.

 

$   8,692

 

8,204

 

5.9

%

5.9

 

-

 
                       

Europe

 

4,040

 

4,885

 

(17.3)

 

0.3

 

(17.6)

 

Western Hemisphere excluding U.S.

 

1,639

 

1,695

 

(3.3)

 

9.9

 

(13.2)

 

Asia-PacificAfrica

 

3,003

 

3,331

 

(9.8)

 

(3.0)

 

(6.8)

 

International

 

8,682

 

9,911

 

(12.4)

 

0.8

 

(13.2)

 
                       

Worldwide

 

$ 17,374

 

18,115

 

(4.1)

%

3.1

 

(7.2)

 
                       
                       
                       

 

 

 

Johnson & Johnson and Subsidiaries

               

Condensed Consolidated Statement of Earnings 

             
                     

(Unaudited; in Millions Except Per Share Figures)

FIRST QUARTER

 
                     
 

2015

 

2014

 

Percent

 
     

Percent

     

Percent

 

Increase

 
 

Amount

 

to Sales

 

Amount

 

to Sales

 

(Decrease)

 

Sales to customers

$ 17,374

 

100.0

 

$ 18,115

 

100.0

 

(4.1)

 

Cost of products sold

5,282

 

30.4

 

5,455

 

30.1

 

(3.2)

 

Selling, marketing and administrative expenses

4,847

 

27.9

 

5,183

 

28.6

 

(6.5)

 

Research and development expense

1,899

 

10.9

 

1,831

 

10.1

 

3.7

 

In-process research and development

-

 

-

 

18

 

0.1

     

Interest (income) expense, net

119

 

0.7

 

118

 

0.7

     

Other (income) expense, net

(348)

 

(2.0)

 

86

 

0.5

     

Earnings before provision for taxes on income

5,575

 

32.1

 

5,424

 

29.9

 

2.8

 

Provision for taxes on income

1,255

 

7.2

 

697

 

3.8

 

80.1

 

Net earnings

4,320

 

24.9

 

4,727

 

26.1

 

(8.6)

 
                     

Net earnings per share (Diluted)

$     1.53

     

$     1.64

     

(6.7)

 
                     

Average shares outstanding (Diluted)

2,826.0

     

2,874.7

         
                     

Effective tax rate

22.5

%

   

12.9

%

       
                     

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

                   

Earnings before provision for taxes on income

$   5,630

 

32.4

 

$   5,928

 

32.7

 

(5.0)

 

Net earnings

$   4,418

 

25.4

 

$   4,693

 

25.9

 

(5.9)

 

Net earnings per share (Diluted)

$     1.56

     

$     1.63

     

(4.3)

 

Effective tax rate

21.5

%

   

20.8

%

       
                     

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

                 
                     
                     
                     

 

Johnson & Johnson and Subsidiaries

               

Reconciliation of Non-GAAP Financial Measures

             
                     
       

First Quarter

 

% Incr. /

   

(Dollars in Millions Except Per Share Data)

 

2015

 

2014

 

(Decr.)

   
                     

Earnings before provision for taxes on income - as reported

$    5,575

 

5,424

 

2.8

%

 
                     

Intangible asset amortization expense

   

312

 

368

       
                     

Litigation gain, net

     

(402)

 

-

       
                     

DePuy ASRTMHip program

     

139

 

-

       
                     

Synthes integration costs 

     

32

 

118

       
                     

Ortho-Clinical Diagnostics divestiture net gain

 

(26)

 

-

       
                     

In-process research and development

   

-

 

18

       
                     

Earnings before provision for taxes on income - as adjusted

$    5,630

 

5,928

 

(5.0)

%

 
                     

Net Earnings - as reported

     

$    4,320

 

4,727

 

(8.6)

%

 
                     

Intangible asset amortization expense

   

226

 

267

       
                     

Litigation gain, net

     

(253)

 

-

       
                     

DePuy ASRTMHip program

     

122

 

-

       
                     

Synthes integration costs 

     

25

 

84

       
                     

Ortho-Clinical Diagnostics divestiture net gain

 

(22)

 

-

       
                     

In-process research and development

   

-

 

13

       
                     

Tax benefit associated with Conor Medsystems

 

-

 

(398)

       
                     

Net Earnings - as adjusted 

     

$    4,418

 

4,693

 

(5.9)

%

 
                     

Diluted Net Earnings per share - as reported

 

$     1.53

 

1.64

 

(6.7)

%

 
                     

Intangible asset amortization expense

   

0.08

 

0.09

       
                     

Litigation gain, net

     

(0.09)

 

-

       
                     

DePuy ASRTMHip program

     

0.04

 

-

       
                     

Synthes integration costs 

     

0.01

 

0.03

       
                     

Ortho-Clinical Diagnostics divestiture net gain

 

(0.01)

 

-

       
                     

In-process research and development

   

-

 

0.01

       
                     

Tax benefit associated with Conor Medsystems

 

-

 

(0.14)

       
                     

Diluted Net Earnings per share - as adjusted 

 

$     1.56

 

1.63

 

(4.3)

%

 
                     
                     
                     
                     
                     
                     
                     

 

 

Johnson & Johnson and Subsidiaries

             

Reconciliation of Non-GAAP Financial Measure

         
                   

Operational Sales Growth Excluding Acquisitions and Divestitures

 

 FIRST QUARTER 2015 ACTUAL vs. 2014 ACTUAL 

 
                   
   

 Segments 

 
                   
   

 Consumer 

 

 Pharmaceutical 

 

 Medical Devices 

 

 Total  

 
   

Operational % (1)

 
                   

 WW As Reported: 

 

3.4%

 

10.2%

 

(4.6)%

 

3.1%

 

 U.S. 

 

3.8%

 

16.9%

 

(6.1)%

 

5.9%

 

 International 

 

3.1%

 

3.7%

 

(3.3)%

 

0.8%

 
                   

Women's Health

                 

K-Y ®

 

0.7

         

0.1

 

 U.S. 

 

1.3

         

0.2

 

 International 

 

0.4

         

0.1

 
                   

Wound Care / Other

                 

BENECOL ®

 

0.7

         

0.1

 

 U.S. 

 

0.0

         

0.0

 

 International 

 

1.2

         

0.3

 
                   

Diagnostics

                 

Ortho-Clinical Diagnostics

         

5.9

 

2.4

 

 U.S. 

         

7.2

 

3.0

 

 International 

         

4.8

 

1.9

 
                   

All Other Acquisitions and Divestitures

 

(0.1)

         

0.0

 

 U.S. 

 

0.0

         

0.0

 

 International 

 

(0.2)

         

(0.1)

 
                   

WW Ops excluding Acquisitions and Divestitures

 

4.7%

 

10.2%

 

1.3%

 

5.7%

 

 U.S. 

 

5.1%

 

16.9%

 

1.1%

 

9.1%

 

 International 

 

4.5%

 

3.7%

 

1.5%

 

3.0%

 
                   

(1)Operational growth excludes the effect of translational currency

             

 

 

 

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 
 

FIRST QUARTER

 
         

% Change

 
   

2015

 

2014

Reported

Operational (1)

Currency

 

CONSUMER SEGMENT (2)

               

BABY CARE

               

US

 

$          111

 

102

8.8%

8.8%

-

 

Intl

 

400

 

443

-9.7%

-0.9%

-8.8%

 

WW

 

511

 

545

-6.2%

1.0%

-7.2%

 

ORAL CARE

               

US

 

158

 

160

-1.3%

-1.3%

-

 

Intl

 

245

 

251

-2.4%

8.8%

-11.2%

 

WW

 

403

 

411

-1.9%

5.0%

-6.9%

 

OTC

               

US

 

405

 

366

10.7%

10.7%

-

 

Intl

 

588

 

645

-8.8%

9.1%

-17.9%

 

WW

 

993

 

1,011

-1.8%

9.6%

-11.4%

 

SKIN CARE

               

US

 

492

 

457

7.7%

7.7%

-

 

Intl

 

411

 

457

-10.1%

1.5%

-11.6%

 

WW

 

903

 

914

-1.2%

4.6%

-5.8%

 

WOMEN'S HEALTH

               

US

 

6

 

24

-75.0%

-75.0%

-

 

Intl

 

281

 

303

-7.3%

5.5%

-12.8%

 

WW

 

287

 

327

-12.2%

-0.4%

-11.8%

 

WOUND CARE / OTHER

               

US

 

187

 

200

-6.5%

-6.5%

-

 

Intl

 

106

 

149

-28.9%

-19.7%

-9.2%

 

WW

 

293

 

349

-16.0%

-12.1%

-3.9%

 
                 

TOTAL CONSUMER

               

US

 

1,359

 

1,309

3.8%

3.8%

-

 

Intl

 

2,031

 

2,248

-9.7%

3.1%

-12.8%

 

WW

 

$       3,390

 

3,557

-4.7%

3.4%

-8.1%

 
                 
                 

See footnotes at end of schedule

           
                 

 

 

 

 

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 
 

FIRST QUARTER

 
         

% Change

 
   

2015

 

2014

Reported

Operational (1)

Currency

 

PHARMACEUTICAL SEGMENT (2) (3)

               

IMMUNOLOGY

               

US

 

$       1,755

 

1,547

13.4%

13.4%

-

 

Intl

 

708

 

796

-11.1%

3.1%

-14.2%

 

WW

 

2,463

 

2,343

5.1%

9.9%

-4.8%

 

   REMICADE

               

   US 

 

1,055

 

997

5.8%

5.8%

-

 

   US Exports (4)

 

181

 

167

8.4%

8.4%

-

 

   Intl

 

364

 

446

-18.4%

-6.2%

-12.2%

 

   WW

 

1,600

 

1,610

-0.6%

2.8%

-3.4%

 

   SIMPONI / SIMPONI ARIA

               

   US

 

155

 

104

49.0%

49.0%

-

 

   Intl

 

145

 

155

-6.5%

9.7%

-16.2%

 

   WW

 

300

 

259

15.8%

25.5%

-9.7%

 

   STELARA

               

   US

 

364

 

279

30.5%

30.5%

-

 

   Intl

 

185

 

177

4.5%

22.5%

-18.0%

 

   WW

 

549

 

456

20.4%

27.4%

-7.0%

 

   OTHER IMMUNOLOGY

               

   US

 

-

 

-

-

-

-

 

   Intl

 

14

 

18

-22.2%

-13.7%

-8.5%

 

   WW

 

14

 

18

-22.2%

-13.7%

-8.5%

 

INFECTIOUS DISEASES

               

US

 

412

 

561

-26.6%

-26.6%

-

 

Intl

 

563

 

639

-11.9%

4.2%

-16.1%

 

WW

 

975

 

1,200

-18.8%

-10.2%

-8.6%

 

   EDURANT

               

   US

 

9

 

5

80.0%

80.0%

-

 

   Intl

 

82

 

76

7.9%

30.6%

-22.7%

 

   WW

 

91

 

81

12.3%

33.6%

-21.3%

 

   OLYSIO / SOVRIAD

               

   US

 

98

 

291

-66.3%

-66.3%

-

 

   Intl

 

136

 

63

*

*

**

 

   WW

 

234

 

354

-33.9%

-26.2%

-7.7%

 

   PREZISTA / PREZCOBIX

               

   US

 

234

 

214

9.3%

9.3%

-

 

   Intl

 

193

 

231

-16.5%

-1.6%

-14.9%

 

   WW

 

427

 

445

-4.0%

3.7%

-7.7%

 

   OTHER INFECTIOUS DISEASES

               

   US

 

71

 

51

39.2%

39.2%

-

 

   Intl

 

152

 

269

-43.5%

-34.5%

-9.0%

 

   WW

 

223

 

320

-30.3%

-22.8%

-7.5%

 
                 
                 

 

 

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 
 

FIRST QUARTER

 
         

% Change

 
   

2015

 

2014

Reported

Operational (1)

Currency

 
                 

NEUROSCIENCE

               

US

 

750

 

601

24.8%

24.8%

-

 

Intl

 

868

 

1,037

-16.3%

-3.2%

-13.1%

 

WW

 

1,618

 

1,638

-1.2%

7.1%

-8.3%

 

   CONCERTA / METHYLPHENIDATE

               

   US

 

126

 

35

*

*

-

 

   Intl

 

98

 

115

-14.8%

-3.5%

-11.3%

 

   WW

 

224

 

150

49.3%

58.0%

-8.7%

 

   INVEGA

               

   US

 

94

 

86

9.3%

9.3%

-

 

   Intl

 

61

 

79

-22.8%

-8.7%

-14.1%

 

   WW

 

155

 

165

-6.1%

0.7%

-6.8%

 

   INVEGA SUSTENNA / XEPLION

               

   US

 

228

 

182

25.3%

25.3%

-

 

   Intl

 

183

 

191

-4.2%

12.5%

-16.7%

 

   WW

 

411

 

373

10.2%

18.7%

-8.5%

 

   RISPERDAL CONSTA

               

   US

 

104

 

106

-1.9%

-1.9%

-

 

   Intl

 

150

 

204

-26.5%

-13.0%

-13.5%

 

   WW

 

254

 

310

-18.1%

-9.2%

-8.9%

 

   OTHER NEUROSCIENCE

               

   US

 

198

 

192

3.1%

3.1%

-

 

   Intl

 

376

 

448

-16.1%

-4.5%

-11.6%

 

   WW

 

574

 

640

-10.3%

-2.2%

-8.1%

 

ONCOLOGY

               

US

 

334

 

240

39.2%

39.2%

-

 

Intl

 

774

 

782

-1.0%

15.7%

-16.7%

 

WW

 

1,108

 

1,022

8.4%

21.2%

-12.8%

 

   IMBRUVICA

               

   US

 

66

 

6

*

*

-

 

   Intl

 

50

 

4

*

*

**

 

   WW

 

116

 

10

*

*

**

 

   VELCADE

               

   US

 

-

 

-

-

-

-

 

   Intl

 

339

 

408

-16.9%

-4.0%

-12.9%

 

   WW

 

339

 

408

-16.9%

-4.0%

-12.9%

 

   ZYTIGA

               

   US

 

253

 

229

10.5%

10.5%

-

 

   Intl

 

303

 

283

7.1%

26.3%

-19.2%

 

   WW

 

556

 

512

8.6%

19.2%

-10.6%

 

   OTHER ONCOLOGY

               

   US

 

15

 

5

*

*

-

 

   Intl

 

82

 

87

-5.7%

10.1%

-15.8%

 

   WW

 

97

 

92

5.4%

20.3%

-14.9%

 
                 

 

 

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 
 

FIRST QUARTER

 
         

% Change

 
   

2015

 

2014

Reported

Operational (1)

Currency

 

CARDIOVASCULAR / METABOLISM / OTHER (5)

               

US

 

1,120

 

791

41.6%

41.6%

-

 

Intl

 

442

 

504

-12.3%

-0.8%

-11.5%

 

WW

 

1,562

 

1,295

20.6%

25.1%

-4.5%

 

   XARELTO

               

   US

 

441

 

319

38.2%

38.2%

-

 

   Intl

 

-

 

-

-

-

-

 

   WW

 

441

 

319

38.2%

38.2%

0.0%

 

   INVOKANA / INVOKAMET

               

   US

 

266

 

93

*

*

-

 

   Intl

 

12

 

1

*

*

**

 

   WW

 

278

 

94

*

*

**

 

   PROCRIT / EPREX

               

   US

 

163

 

176

-7.4%

-7.4%

-

 

   Intl

 

106

 

134

-20.9%

-7.5%

-13.4%

 

   WW

 

269

 

310

-13.2%

-7.4%

-5.8%

 

   OTHER

               

   US

 

250

 

203

23.2%

23.2%

-

 

   Intl

 

324

 

369

-12.2%

-1.7%

-10.5%

 

   WW

 

574

 

572

0.3%

7.1%

-6.8%

 
                 

TOTAL PHARMACEUTICAL

               

US

 

4,371

 

3,740

16.9%

16.9%

-

 

Intl

 

3,355

 

3,758

-10.7%

3.7%

-14.4%

 

WW

 

$       7,726

 

7,498

3.0%

10.2%

-7.2%

 
                 
                 

Supplemental Sales Information

               
   

2014

 
   

Q1

 

Q2

Q3

Q4

Full Year

 

INVOKANA / INVOKAMET

               

US

 

93

 

114

169

193

569

 

Intl

 

1

 

3

5

8

17

 

WW

 

94

 

117

174

201

586

 

IMBRUVICA

               

US

 

6

 

33

42

64

145

 

Intl

 

4

 

9

14

28

55

 

WW

 

10

 

42

56

92

200

 
                 

See footnotes at end of schedule

               

 

 

 

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 
 

FIRST QUARTER

 
         

% Change

 
   

2015

 

2014

Reported

Operational (1)

Currency

 

MEDICAL DEVICES (2)

               

CARDIOVASCULAR CARE

               

US

 

$          228

 

205

11.2%

11.2%

-

 

Intl

 

301

 

336

-10.4%

3.4%

-13.8%

 

WW

 

529

 

541

-2.2%

6.4%

-8.6%

 

DIABETES CARE

               

US

 

212

 

192

10.4%

10.4%

-

 

Intl

 

272

 

320

-15.0%

0.6%

-15.6%

 

WW

 

484

 

512

-5.5%

4.2%

-9.7%

 

DIAGNOSTICS (6)

               

US

 

-

 

224

**

**

-

 

Intl

 

30

 

219

-86.3%

-83.5%

-2.8%

 

WW

 

30

 

443

-93.2%

-91.8%

-1.4%

 

ORTHOPAEDICS

               

US 

 

1,309

 

1,292

1.3%

1.3%

-

 

Intl

 

1,019

 

1,129

-9.7%

2.9%

-12.6%

 

WW

 

2,328

 

2,421

-3.8%

2.1%

-5.9%

 

SPECIALTY SURGERY / OTHER

               

US

 

417

 

417

0.0%

0.0%

-

 

Intl

 

416

 

457

-9.0%

3.5%

-12.5%

 

WW

 

833

 

874

-4.7%

1.8%

-6.5%

 

SURGICAL CARE 

               

US

 

543

 

539

0.7%

0.7%

-

 

Intl

 

880

 

969

-9.2%

3.0%

-12.2%

 

WW

 

1,423

 

1,508

-5.6%

2.3%

-7.9%

 

VISION CARE

               

US

 

253

 

286

-11.5%

-11.5%

-

 

Intl

 

378

 

475

-20.4%

-7.5%

-12.9%

 

WW

 

631

 

761

-17.1%

-9.0%

-8.1%

 
                 

TOTAL MEDICAL DEVICES

               

US

 

2,962

 

3,155

-6.1%

-6.1%

-

 

Intl

 

3,296

 

3,905

-15.6%

-3.3%

-12.3%

 

WW

 

$       6,258

 

7,060

-11.4%

-4.6%

-6.8%

 
                 
             

* Percentage greater than 100%

           

** Not meaningful

               

(1) Operational growth excludes the effect of translational currency

     

(2) Unaudited

               

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

 

(4) Reported as U.S. sales

             

(5) Previously referred to as Other

           

(6) Reflects Diagnostics divestiture June 30, 2014

         
                 

 

 

 

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2015-first-quarter-results-300065405.html

SOURCE Johnson & Johnson

 

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