Johnson & Johnson Reports 2014 Third-Quarter Results:

Sales of $18.5 Billion Increased 5.1% Versus 2013 Third Quarter;

NEW BRUNSWICK, N.J., Oct. 14, 2014 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced sales of $18.5 billion for the third quarter of 2014, an increase of 5.1% as compared to the third quarter of 2013. Operational results increased 5.8% and the negative impact of currency was 0.7%. Domestic sales increased 11.6%. International sales decreased 0.3%, reflecting operational growth of 1.0% and a negative currency impact of 1.3%. During the quarter the Company completed the divestiture of the Ortho-Clinical Diagnostics business. Worldwide, domestic and international operational sales growth, excluding the impact of this divestiture, was 8.4%; 14.8% and 3.1% respectively.

Net earnings and diluted earnings per share for the third quarter of 2014 were $4.7 billion and $1.66, respectively. The third-quarter results included a net gain for after-tax special items of approximately $0.5 billion, driven by an after-tax net gain of approximately $1.1 billion from the divestiture of Ortho-Clinical Diagnostics. This gain was partially offset by other special items primarily related to an increase in the litigation accrual, a charge to account for an additional year of the non-tax deductible Branded Prescription Drug Fee in accordance with final regulations issued in the third quarter by the Internal Revenue Service, integration costs related to the acquisition of Synthes, Inc. and program costs associated with the DePuy ASRTM Hip. Third quarter 2013 net earnings included a charge for after-tax special items of approximately $0.9 billion as shown in the accompanying reconciliation of non-GAAP financial measures. Excluding these special items, net earnings for the current quarter were $4.3 billion and diluted earnings per share were $1.50, representing increases of 9.5% and 10.3%, respectively, as compared to the same period in 2013.*  

"Our strong third-quarter performance reflects the continued success of our new products and the strength of our core business. We are making deliberate portfolio choices, positioning us well for achieving our near-term priorities and our long-term growth drivers," said Alex Gorsky, Chairman and Chief Executive Officer. "I am proud of our colleagues around the world who are focused everyday on delivering solutions to address the evolving health care needs."

In July, the Company announced a share repurchase program of up to $5.0 billion of the Company's common stock. Repurchases may be made at management's discretion from time to time on the open market or through privately negotiated transactions. The repurchase program has no time limit and may be suspended for periods or discontinued at any time.

The Company increased its earnings guidance for full-year 2014 to $5.92 - $5.97 per share. The Company's guidance excludes the impact of special items.

Worldwide Consumer sales of $3.6 billion for the third quarter represented a decrease of 0.6% versus the prior year consisting of an operational increase of 0.3% and a negative impact from currency of 0.9%. Domestic sales decreased 4.2%; international sales increased 1.3%, which reflected an operational increase of 2.6% and a negative currency impact of 1.3%. The divestiture of the North American sanitary protection business impacted operational growth by approximately 2% worldwide and 5% in the U.S.

Positive contributors to operational results included sales of Over-the-Counter products, primarily adult upper respiratory brands and LISTERINE® mouthwash in the Oral Care business.

Worldwide Pharmaceutical sales of $8.3 billion for the third quarter represented an increase of 18.1% versus the prior year with operational growth of 18.7% and a negative impact from currency of 0.6%. Domestic sales increased 33.1%; international sales increased 2.8%, which reflected an operational increase of 4.1% and a negative currency impact of 1.3%.  

The strong sales results were driven by new products and the strength of our core products. New products include OLYSIO®/SOVRIAD® (simeprevir), for combination treatment of chronic hepatitis C in adult patients; XARELTO® (rivaroxaban), an oral anticoagulant; INVOKANA® (canagliflozin), for the treatment of adults with type 2 diabetes; ZYTIGA® (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic, castration-resistant prostate cancer; and IMBRUVICA® (ibrutinib), a kinase inhibitor for the treatment of mantle cell lymphoma (MCL), chronic lymphocytic leukemia (CLL) in patients who have had at least one prior therapy and CLL patients with 17p deletion, a genetic mutation that occurs when part of chromosome 17 has been lost.

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

Sales results were negatively impacted by loss of exclusivity for ACIPHEX® (rabeprazole), a proton pump inhibitor for gastrointestinal disorders. 

During the quarter, the U.S. Food and Drug Administration (FDA) granted approval for a third indication for IMBRUVICA® (ibrutinib), for the treatment of patients with CLL who have the genetic mutation 17p deletion (del 17p). The FDA also granted IMBRUVICA full approval for the treatment of patients with CLL who have received at least one prior therapy. IMBRUVICA was initially approved for CLL in February 2014 under the FDA's accelerated approval process. The FDA also approved INVOKAMETTM (canagliflozin/metformin HCl) for the treatment of adults with type 2 diabetes.

Also during the quarter, the Committee for Medicinal Products for Human Use (CHMP) adopted positive opinions recommending Marketing Authorization in the European Union for the use of IMBRUVICA® (ibrutinib) in the treatment of adult patients with relapsed or refractory MCL and adult patients with CLL who have received at least one prior therapy, or in first-line in the presence of 17p deletion or TP53 mutation in patients unsuitable for chemo-immunotherapy and REZOLSTA® (darunavir/cobicistat) in combination with other antiretroviral medicinal products for the treatment of human immunodeficiency virus-1 (HIV-1) infection in adults aged 18 years or older.

In addition, the acquisition of Covagen AG, a privately-held biopharmaceutical company specializing in the development of multispecific protein therapeutics through the FynomAb® technology platform, was completed.

Subsequent to the quarter, we announced the definitive agreement to acquire Alios BioPharma, Inc., a privately-held clinical stage biopharmaceutical company focused on developing therapies for viral diseases, for approximately $1.75 billion in cash. The transaction is expected to close during the fourth quarter of 2014.

Worldwide Medical Devices and Diagnostics sales of $6.6 billion for the third quarter represented a decrease of 5.2% versus the prior year consisting of an operational decrease of 4.6% and a negative currency impact of 0.6%. Domestic sales decreased 6.5%; international sales decreased 4.0%, which reflected an operational decrease of 2.8% and a negative currency impact of 1.2%. Excluding the impact of the divestiture of Ortho-Clinical Diagnostics business, on an operational basis, worldwide sales increased 1.6%, domestic sales increased 0.6% and international sales increased 2.4%.

Primary contributors to operational growth were our broad portfolio of Orthopaedic products and Biosense Webster's electrophysiology products in the Cardiovascular Care business. Sales results in the Vision Care business were negatively impacted by competitive pricing dynamics.

During the quarter, INCRAFT ® AAA Stent Graft System was approved and launched for treatment of abdominal aortic aneurysms (AAA) in Europe and Canada.

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 126,000 employees at more than 270 Johnson & Johnson operating companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.

* Net earnings and diluted earnings per share excluding 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. A reconciliation 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, reconciliation 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. 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 development, including obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; impact of business combinations and divestitures; significant adverse litigation or government action, including related to product liability claims; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; changes to regulations, including domestic and foreign health care reforms; trends toward health care cost containment; increased scrutiny of the health care industry by government agencies; financial instability of international economies and sovereign risk; disruptions due to natural disasters; manufacturing difficulties or delays, internally or within the supply chain; complex global supply chains with increasing regulatory requirements; and product efficacy or safety concerns resulting in product recalls or regulatory action. 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 29, 2013, 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.gov, www.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 & Johnson does 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)

THIRD QUARTER


NINE MONTHS







Percent Change







Percent Change



2014


2013


Total


Operations


Currency


2014


2013


Total


Operations


Currency

Sales to customers by




















segment of business








































Consumer




















    U.S.

$  1,173


1,225


(4.2)

%

(4.2)


-


$  3,802


3,899


(2.5)

%

(2.5)


-

    International

2,416


2,386


1.3


2.6


(1.3)


7,088


7,045


0.6


3.0


(2.4)


3,589


3,611


(0.6)


0.3


(0.9)


10,890


10,944


(0.5)


1.1


(1.6)





















Pharmaceutical




















    U.S.

4,723


3,549


33.1


33.1


-


13,076


10,397


25.8


25.8


-

    International

3,584


3,487


2.8


4.1


(1.3)


11,238


10,432


7.7


9.1


(1.4)


8,307


7,036


18.1


18.7


(0.6)


24,314


20,829


16.7


17.4


(0.7)





















Med Devices & Diagnostics




















    U.S.

2,946


3,151


(6.5)


(6.5)


-


9,300


9,600


(3.1)


(3.1)


-

    International

3,625


3,777


(4.0)


(2.8)


(1.2)


11,573


11,584


(0.1)


1.5


(1.6)


6,571


6,928


(5.2)


(4.6)


(0.6)


20,873


21,184


(1.5)


(0.6)


(0.9)





















U.S.

8,842


7,925


11.6


11.6


-


26,178


23,896


9.5


9.5


-

International

9,625


9,650


(0.3)


1.0


(1.3)


29,899


29,061


2.9


4.6


(1.7)

Worldwide

$18,467


17,575


5.1

%

5.8


(0.7)


$56,077


52,957


5.9

%

6.8


(0.9)

 

 

Johnson & Johnson and Subsidiaries

















Supplementary Sales Data






































(Unaudited; Dollars in Millions)

THIRD QUARTER


NINE MONTHS







Percent Change








Percent Change



2014


2013


Total


Operations


Currency


2014


2013


Total


Operations


Currency

Sales to customers by




















geographic area








































U.S.

$  8,842


7,925


11.6

%

11.6


-


$26,178


23,896


9.5

%

9.5


-





















Europe

4,446


4,478


(0.7)


(0.8)


0.1


14,387


13,631


5.5


3.3


2.2

Western Hemisphere excluding U.S.

1,820


1,842


(1.2)


3.5


(4.7)


5,378


5,530


(2.7)


5.7


(8.4)

Asia-Pacific, Africa

3,359


3,330


0.9


2.0


(1.1)


10,134


9,900


2.4


5.8


(3.4)

International

9,625


9,650


(0.3)


1.0


(1.3)


29,899


29,061


2.9


4.6


(1.7)





















Worldwide

$18,467


17,575


5.1

%

5.8


(0.7)


$56,077


52,957


5.9

%

6.8


(0.9)

 

Johnson & Johnson and Subsidiaries










Condensed Consolidated Statement of Earnings 



















(Unaudited; in Millions Except Per Share Figures)

THIRD QUARTER












2014


2013


Percent

Increase

(Decrease)




Percent 
to Sales




Percent 
to
Sales


Amount  



Amount  



Sales to customers

$ 18,467


100.0


$ 17,575


100.0


5.1

Cost of products sold

5,399


29.2


5,344


30.4


1.0

Selling, marketing and administrative expenses

5,468


29.6


5,314


30.2


2.9

Research and development expense

2,023


11.0


2,042


11.6


(0.9)

In-process research and development

-


-


178


1.0



Interest (income) expense, net

112


0.6


87


0.5



Other (income) expense, net

(1,345)


(7.3)


943


5.4



Earnings before provision for taxes on income

6,810


36.9


3,667


20.9


85.7

Provision for taxes on income

2,061


11.2


685


3.9


200.9

Net earnings

$    4,749


25.7


$   2,982


17.0


59.3











Net earnings per share (Diluted)

$      1.66




$     1.04




59.6











Average shares outstanding (Diluted)

2,864.3




2,881.2















Effective tax rate

30.3

%



18.7

%














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










Earnings before provision for taxes on income

$    5,660


30.6


$   4,831


27.5


17.2

Net earnings

$    4,292


23.2


$   3,919


22.3


9.5

Net earnings per share (Diluted)

$      1.50




$     1.36




10.3

Effective tax rate

24.2

%



18.9

%














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









 

 

Johnson & Johnson and Subsidiaries










Condensed Consolidated Statement of Earnings 




















(Unaudited; in Millions Except Per Share Figures)

NINE MONTHS












2014


2013


Percent

Increase

(Decrease)




Percent 
to Sales




Percent 
to Sales



Amount  



Amount  



Sales to customers

$   56,077


100.0


$ 52,957


100.0


5.9

Cost of products sold

16,893


30.1


16,387


30.9


3.1

Selling, marketing and administrative expenses

16,132


28.8


15,913


30.0


1.4

Research and development expense

5,859


10.5


5,772


10.9


1.5

In-process research and development

22


0.0


242


0.5



Interest (income) expense, net

344


0.6


292


0.6



Other (income) expense, net

(1,033)


(1.8)


1,630


3.1



Earnings before provision for taxes on income

17,860


31.8


12,721


24.0


40.4

Provision for taxes on income

4,058


7.2


2,409


4.5


68.5

Net earnings

$  13,802


24.6


$ 10,312


19.5


33.8











Net earnings per share (Diluted)

$      4.81




$     3.58




34.4











Average shares outstanding (Diluted)

2,871.2




2,879.0















Effective tax rate

22.7

%



18.9

%














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










Earnings before provision for taxes on income

$  17,270


30.8


$ 15,260


28.8


13.2

Net earnings

$  13,493


24.1


$ 12,315


23.3


9.6

Net earnings per share (Diluted)

$      4.70




$     4.28




9.8

Effective tax rate

21.9

%



19.3

%














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









 

Johnson & Johnson and Subsidiaries














Reconciliation of Non-GAAP Financial Measures





























Third Quarter


%Incr. /

(Decr.)



Nine Months YTD


% Incr. /

(Decr.)


(Dollars in Millions Except Per Share Data)

2014


2013




2014


2013

















Earnings before provision for taxes on income - as reported

$ 6,810


3,667


85.7

%


$ 17,860


12,721


40.4

%















Ortho-Clinical Diagnostics divestiture net gain

(1,948)


-





(1,948)


-


















Litigation expenses

285


872





561


1,776


















Additional year of Branded Prescription Drug Fee

220


-





220


-


















Synthes integration/transaction costs 

167


122





429


502


















In-process research and development

-


178





22


242


















DePuy ASRHip program

126


35





126


117


















Other

-


(43)





-


(98)


















Earnings before provision for taxes on income - as adjusted

$ 5,660


4,831


17.2

%


$ 17,270


15,260


13.2

%















Net Earnings - as reported

$ 4,749


2,982


59.3

%


$ 13,802


10,312


33.8

%















Ortho-Clinical Diagnostics divestiture net gain

(1,149)


-





(1,149)


-


















Litigation expenses

231


720





573

(1)

1,419


















Additional year of Branded Prescription Drug Fee

220


-





220


-


















Synthes integration/transaction costs 

130


103





318


373


















In-process research and development

-


126





16


168


















DePuy ASRHip program

111


31





111


122


















Tax benefit associated with Conor Medsystems

-


-





(398)


-


















Other

-


(43)





-


(79)


















Net Earnings - as adjusted 

$ 4,292


3,919


9.5

%


$ 13,493


12,315


9.6

%















Diluted Net Earnings per share - as reported

$   1.66


1.04


59.6

%


$     4.81


3.58


34.4

%















Ortho-Clinical Diagnostics divestiture net gain

(0.40)


-





(0.40)


-


















Litigation expenses

0.08


0.25





0.19


0.49


















Additional year of Branded Prescription Drug Fee

0.08


-





0.08


-


















Synthes integration/transaction costs

0.04


0.04





0.11


0.13


















In-process research and development

-


0.04





0.01


0.06


















DePuy ASRHip program

0.04


0.01





0.04


0.04


















Tax benefit associated with Conor Medsystems

-


-





(0.14)


-


















Other

-


(0.02)





-


(0.02)


















Diluted Net Earnings per share - as adjusted 

$   1.50


1.36


10.3

%


$     4.70


4.28


9.8

%





























(1) Includes adjustment to deferred tax asset related to deductibility by tax jurisdiction




























The Company believes investors gain additional perspective of underlying business trends and results by providing a measure of earnings before provision for taxes on income, net earnings and diluted net earnings per share that excludes special items in order to evaluate ongoing business operations.





 



Johnson & Johnson



REPORTED SALES vs. PRIOR PERIOD ($MM)



THIRD QUARTER


NINE MONTHS






% Change





% Change



2014


2013

Reported

Operational (1)

Currency


2014


2013

Reported

Operational (1)

Currency

CONSUMER SEGMENT (2)















BABY CARE















US


$          102


99

3.0%

3.0%

-


$          311


308

1.0%

1.0%

-

Intl


461


461

0.0%

1.4%

-1.4%


1,404


1,402

0.1%

4.1%

-4.0%

WW


563


560

0.5%

1.6%

-1.1%


1,715


1,710

0.3%

3.6%

-3.3%

ORAL CARE















US


148


142

4.2%

4.2%

-


450


449

0.2%

0.2%

-

Intl


261


253

3.2%

3.6%

-0.4%


783


755

3.7%

5.9%

-2.2%

WW


409


395

3.5%

3.7%

-0.2%


1,233


1,204

2.4%

3.8%

-1.4%

OTC















US


313


310

1.0%

1.0%

-


995


954

4.3%

4.3%

-

Intl


706


665

6.2%

7.9%

-1.7%


2,038


1,995

2.2%

3.8%

-1.6%

WW


1,019


975

4.5%

5.7%

-1.2%


3,033


2,949

2.8%

3.9%

-1.1%

SKIN CARE















US


400


404

-1.0%

-1.0%

-


1,363


1,320

3.3%

3.3%

-

Intl


520


520

0.0%

0.8%

-0.8%


1,439


1,414

1.8%

3.1%

-1.3%

WW


920


924

-0.4%

0.0%

-0.4%


2,802


2,734

2.5%

3.2%

-0.7%

WOMEN'S HEALTH















US


8


77

-89.6%

-89.6%

-


43


242

-82.2%

-82.2%

-

Intl


317


331

-4.2%

-1.7%

-2.5%


951


978

-2.8%

1.5%

-4.3%

WW


325


408

-20.3%

-18.3%

-2.0%


994


1,220

-18.5%

-15.0%

-3.5%

WOUND CARE/OTHER















US


202


193

4.7%

4.7%

-


640


626

2.2%

2.2%

-

Intl


151


156

-3.2%

-3.3%

0.1%


473


501

-5.6%

-4.7%

-0.9%

WW


353


349

1.1%

1.1%

0.0%


1,113


1,127

-1.2%

-0.8%

-0.4%
















TOTAL CONSUMER















US


1,173


1,225

-4.2%

-4.2%

-


3,802


3,899

-2.5%

-2.5%

-

Intl


2,416


2,386

1.3%

2.6%

-1.3%


7,088


7,045

0.6%

3.0%

-2.4%

WW


$       3,589


3,611

-0.6%

0.3%

-0.9%


$      10,890


10,944

-0.5%

1.1%

-1.6%
















See footnotes at end of schedule













 



REPORTED SALES vs. PRIOR PERIOD ($MM)


THIRD QUARTER


NINE MONTHS






% Change





% Change



2014


2013

Reported

Operational (1)

Currency


2014


2013

Reported

Operational (1)

Currency

PHARMACEUTICAL SEGMENT (2) (3)















IMMUNOLOGY















US


$       1,895


1,648

15.0%

15.0%

-


$          5,295


4,865

8.8%

8.8%

-

Intl


746


695

7.3%

9.4%

-2.1%


2,320


1,923

20.6%

23.6%

-3.0%

WW


2,641


2,343

12.7%

13.3%

-0.6%


7,615


6,788

12.2%

13.1%

-0.9%

  REMICADE















  US 


$       1,085


1,013

7.1%

7.1%

-


3,103


2,909

6.7%

6.7%

-

  US Exports (4)


310


291

6.5%

6.5%

-


834


972

-14.2%

-14.2%

-

  Intl


387


385

0.5%

3.3%

-2.8%


1,259


1,080

16.6%

21.1%

-4.5%

  WW


1,782


1,689

5.5%

6.1%

-0.6%


5,196


4,961

4.7%

5.7%

-1.0%

  SIMPONI/SIMPONI ARIA















  US


144


111

29.7%

29.7%

-


380


292

30.1%

30.1%

-

  Intl


156


155

0.6%

2.3%

-1.7%


461


386

19.4%

21.7%

-2.3%

  WW


300


266

12.8%

13.8%

-1.0%


841


678

24.0%

25.3%

-1.3%

  STELARA















  US


356


233

52.8%

52.8%

-


978


692

41.3%

41.3%

-

  Intl


187


137

36.5%

37.2%

-0.7%


549


395

39.0%

38.5%

0.5%

  WW


543


370

46.8%

47.0%

-0.2%


1,527


1,087

40.5%

40.3%

0.2%

  OTHER IMMUNOLOGY















  US


-


-

-

-

-


-


-

-

-

-

  Intl


16


18

-11.1%

-11.8%

0.7%


51


62

-17.7%

-13.8%

-3.9%

  WW


16


18

-11.1%

-11.8%

0.7%


51


62

-17.7%

-13.8%

-3.9%

INFECTIOUS DISEASES















US


967


278

*

*

-


2,548


775

*

*

-

Intl


594


543

9.4%

9.9%

-0.5%


1,975


1,831

7.9%

8.2%

-0.3%

WW


1,561


821

90.1%

90.3%

-0.2%


4,523


2,606

73.6%

73.7%

-0.1%

  EDURANT















  US


7


4

75.0%

75.0%

-


18


10

80.0%

80.0%

-

  Intl


95


60

58.3%

57.6%

0.7%


257


153

68.0%

65.3%

2.7%

  WW


102


64

59.4%

58.8%

0.6%


275


163

68.7%

66.1%

2.6%

  INCIVO















  US


-


-

-

-

-


-


-

-

-

-

  Intl


38


76

-50.0%

-49.1%

-0.9%


221


410

-46.1%

-45.6%

-0.5%

  WW


38


76

-50.0%

-49.1%

-0.9%


221


410

-46.1%

-45.6%

-0.5%

  OLYSIO/SOVRIAD















  US


671


-

*

*

-


1,687


-

*

*

-

  Intl


125


-

*

*

0.0%


294


-

*

*

0.0%

  WW


796


-

*

*

0.0%


1,981


-

*

*

0.0%

  PREZISTA















  US


234


215

8.8%

8.8%

-


687


578

18.9%

18.9%

-

  Intl


212


195

8.7%

8.8%

-0.1%


696


634

9.8%

9.4%

0.4%

  WW


446


410

8.8%

8.9%

-0.1%


1,383


1,212

14.1%

13.9%

0.2%

  OTHER INFECTIOUS DISEASES















  US


55


59

-6.8%

-6.8%

-


156


187

-16.6%

-16.6%

-

  Intl


124


212

-41.5%

-39.9%

-1.6%


507


634

-20.0%

-19.3%

-0.7%

  WW


179


271

-33.9%

-32.6%

-1.3%


663


821

-19.2%

-18.7%

-0.5%

 



REPORTED SALES vs. PRIOR PERIOD ($MM)


THIRD QUARTER


NINE MONTHS






% Change





% Change



2014


2013

Reported

Operational (1)

Currency


2014


2013

Reported

Operational (1)

Currency
















NEUROSCIENCE















US


606


601

0.8%

0.8%

-


1,807


1,973

-8.4%

-8.4%

-

Intl


965


991

-2.6%

-1.3%

-1.3%


3,029


3,043

-0.5%

1.2%

-1.7%

WW


1,571


1,592

-1.3%

-0.5%

-0.8%


4,836


5,016

-3.6%

-2.6%

-1.0%

  CONCERTA/METHYLPHENIDATE















  US


34


38

-10.5%

-10.5%

-


97


262

-63.0%

-63.0%

-

  Intl


101


104

-2.9%

-0.7%

-2.2%


333


351

-5.1%

-2.3%

-2.8%

  WW


135


142

-4.9%

-3.3%

-1.6%


430


613

-29.9%

-28.3%

-1.6%

  INVEGA















  US


89


82

8.5%

8.5%

-


264


229

15.3%

15.3%

-

  Intl


67


65

3.1%

4.7%

-1.6%


215


200

7.5%

9.1%

-1.6%

  WW


156


147

6.1%

6.8%

-0.7%


479


429

11.7%

12.5%

-0.8%

  INVEGA SUSTENNA/ XEPLION















  US


215


180

19.4%

19.4%

-


599


502

19.3%

19.3%

-

  Intl


188


144

30.6%

31.2%

-0.6%


571


396

44.2%

43.8%

0.4%

  WW


403


324

24.4%

24.7%

-0.3%


1,170


898

30.3%

30.1%

0.2%

  RISPERDAL CONSTA















  US


107


114

-6.1%

-6.1%

-


323


327

-1.2%

-1.2%

-

  Intl


177


212

-16.5%

-15.6%

-0.9%


573


670

-14.5%

-14.1%

-0.4%

  WW


284


326

-12.9%

-12.3%

-0.6%


896


997

-10.1%

-9.9%

-0.2%

  OTHER NEUROSCIENCE















  US


161


187

-13.9%

-13.9%

-


524


653

-19.8%

-19.8%

-

  Intl


432


466

-7.3%

-5.7%

-1.6%


1,337


1,426

-6.2%

-3.5%

-2.7%

  WW


593


653

-9.2%

-8.1%

-1.1%


1,861


2,079

-10.5%

-8.6%

-1.9%

ONCOLOGY















US


305


227

34.4%

34.4%

-


823


632

30.2%

30.2%

-

Intl


807


754

7.0%

8.3%

-1.3%


2,422


2,028

19.4%

20.1%

-0.7%

WW


1,112


981

13.4%

14.4%

-1.0%


3,245


2,660

22.0%

22.5%

-0.5%

  VELCADE















  US


-


-

-

-

-


-


-

-

-

-

  Intl


389


404

-3.7%

-2.0%

-1.7%


1,200


1,136

5.6%

7.1%

-1.5%

  WW


389


404

-3.7%

-2.0%

-1.7%


1,200


1,136

5.6%

7.1%

-1.5%

  ZYTIGA















  US


252


204

23.5%

23.5%

-


716


539

32.8%

32.8%

-

  Intl


316


260

21.5%

22.2%

-0.7%


926


664

39.5%

38.8%

0.7%

  WW


568


464

22.4%

22.8%

-0.4%


1,642


1,203

36.5%

36.1%

0.4%

  OTHER ONCOLOGY















  US


53


23

 * 

 * 

-


107


93

15.1%

15.1%

-

  Intl


102


90

13.3%

14.6%

-1.3%


296


228

29.8%

30.4%

-0.6%

  WW


155


113

37.2%

38.3%

-1.1%


403


321

25.5%

25.9%

-0.4%

 



REPORTED SALES vs. PRIOR PERIOD ($MM)


THIRD QUARTER


NINE MONTHS






% Change





% Change



2014


2013

Reported

Operational (1)

Currency


2014


2013

Reported

Operational (1)

Currency

TOTAL OTHER















US


950


795

19.5%

19.5%

-


2,603


2,152

21.0%

21.0%

-

Intl


472


504

-6.3%

-5.3%

-1.0%


1,492


1,607

-7.2%

-6.4%

-0.8%

WW


1,422


1,299

9.5%

9.9%

-0.4%


4,095


3,759

8.9%

9.3%

-0.4%

  PROCRIT/EPREX















  US


184


204

-9.8%

-9.8%

-


538


627

-14.2%

-14.2%

-

  Intl


123


140

-12.1%

-11.4%

-0.7%


398


430

-7.4%

-7.1%

-0.3%

  WW


307


344

-10.8%

-10.5%

-0.3%


936


1,057

-11.4%

-11.3%

-0.1%

  XARELTO















  US


414


246

68.3%

68.3%

-


1,094


593

84.5%

84.5%

-

  Intl


-


-

-

-

-


-


-

-

-

-

  WW


414


246

68.3%

68.3%

-


1,094


593

84.5%

84.5%

-

  OTHER















  US


352


345

2.0%

2.0%

-


971


932

4.2%

4.2%

-

  Intl


349


364

-4.1%

-3.0%

-1.1%


1,094


1,177

-7.1%

-6.1%

-1.0%

  WW


701


709

-1.1%

-0.5%

-0.6%


2,065


2,109

-2.1%

-1.5%

-0.6%
















TOTAL PHARMACEUTICAL















US


4,723


3,549

33.1%

33.1%

-


13,076


10,397

25.8%

25.8%

-

Intl


3,584


3,487

2.8%

4.1%

-1.3%


11,238


10,432

7.7%

9.1%

-1.4%

WW


$       8,307


7,036

18.1%

18.7%

-0.6%


$        24,314


20,829

16.7%

17.4%

-0.7%































See footnotes at end of schedule















REPORTED SALES vs. PRIOR PERIOD ($MM)


THIRD QUARTER


NINE MONTHS






% Change





% Change



2014


2013

Reported

Operational (1)

Currency


2014


2013

Reported

Operational (1)

Currency

MEDICAL DEVICES AND DIAGNOSTICS (2) (3)















CARDIOVASCULAR CARE















US


$          221


196

12.8%

12.8%

-


$             640


598

7.0%

7.0%

-

Intl


321


305

5.2%

6.6%

-1.4%


1,010


945

6.9%

8.3%

-1.4%

WW


542


501

8.2%

9.0%

-0.8%


1,650


1,543

6.9%

7.8%

-0.9%

DIABETES CARE















US


244


237

3.0%

3.0%

-


658


779

-15.5%

-15.5%

-

Intl


314


320

-1.9%

-0.1%

-1.8%


970


967

0.3%

1.5%

-1.2%

WW


558


557

0.2%

1.3%

-1.1%


1,628


1,746

-6.8%

-6.1%

-0.7%

DIAGNOSTICS (5)















US


-


222

**

**

-


456


711

-35.9%

-35.9%

-

Intl


44


237

-81.4%

-80.9%

-0.5%


492


708

-30.5%

-28.8%

-1.7%

WW


44


459

-90.4%

-90.1%

-0.3%


948


1,419

-33.2%

-32.4%

-0.8%

ORTHOPAEDICS















US 


1,272


1,232

3.2%

3.2%

-


3,858


3,767

2.4%

2.4%

-

Intl


1,072


1,051

2.0%

2.4%

-0.4%


3,376


3,286

2.7%

3.5%

-0.8%

WW


2,344


2,283

2.7%

2.9%

-0.2%


7,234


7,053

2.6%

3.0%

-0.4%

SPECIALTY SURGERY/OTHER (6)















US


413


412

0.2%

0.2%

-


1,254


1,242

1.0%

1.0%

-

Intl


445


434

2.5%

4.1%

-1.6%


1,383


1,333

3.8%

6.0%

-2.2%

WW


858


846

1.4%

2.2%

-0.8%


2,637


2,575

2.4%

3.6%

-1.2%

SURGICAL CARE 















US


564


587

-3.9%

-3.9%

-


1,654


1,695

-2.4%

-2.4%

-

Intl


957


947

1.1%

2.4%

-1.3%


2,950


2,935

0.5%

2.1%

-1.6%

WW


1,521


1,534

-0.8%

0.0%

-0.8%


4,604


4,630

-0.6%

0.4%

-1.0%

VISION CARE















US


232


265

-12.5%

-12.5%

-


780


808

-3.5%

-3.5%

-

Intl


472


483

-2.3%

-0.2%

-2.1%


1,392


1,410

-1.3%

1.8%

-3.1%

WW


704


748

-5.9%

-4.5%

-1.4%


2,172


2,218

-2.1%

-0.1%

-2.0%
















TOTAL MEDICAL DEVICES AND DIAGNOSTICS















US


2,946


3,151

-6.5%

-6.5%

-


9,300


9,600

-3.1%

-3.1%

-

Intl


3,625


3,777

-4.0%

-2.8%

-1.2%


11,573


11,584

-0.1%

1.5%

-1.6%

WW


$       6,571


6,928

-5.2%

-4.6%

-0.6%


$        20,873


21,184

-1.5%

-0.6%

-0.9%
















* 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) Reflects Diagnostics divestiture June 30, 2014















(6) Infection Prevention now reflected in Specialty Surgery/Other, previously reported independently









 

SOURCE Johnson & Johnson

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