Johnson & Johnson Reports Q3 2021 Results
10/19/2021 - 06:25 AM
NEW BRUNSWICK, N.J. , Oct. 19, 2021 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced results for third-quarter 2021. "Our third-quarter results demonstrate solid performance across Johnson & Johnson, driven by robust above-market results in Pharmaceuticals, ongoing recovery in Medical Devices, and strong growth in Consumer Health," said Alex Gorsky , Chairman and Chief Executive Officer. "In the face of evolving marketplace dynamics resulting from the effects of COVID-19 and other global trends, we have continued to demonstrate the responsiveness and agility required to meet the needs of our stakeholders, while also successfully investing in a pipeline of innovation and key commercial platforms to drive our future growth. I am incredibly proud of our Company's transformative growth over the last decade. As I prepare to transition the role of CEO to Joaquin Duato in January, I want to extend my deepest gratitude to our colleagues around the globe who work tirelessly to deliver solutions to address the world's most urgent and unmet healthcare challenges."
OVERALL FINANCIAL RESULTS
Q3
($ in Millions, except EPS)
2021
2020
% Change
Reported Sales
$ 23,338
$ 21,082
10.7%
Net Earnings
3,667
3,554
3.2%
EPS (diluted)
$ 1.37
$ 1.33
3.0%
Q3
Non-GAAP* ($ in Millions, except EPS)
2021
2020
% Change
Operational Sales1,2
9.9%
Adjusted Operational Sales1,3
10.6%
Adjusted Net Earnings1,4
6,968
5,868
18.7%
Adjusted EPS (diluted)1,4
$ 2.60
$ 2.20
18.2%
1
Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2
Excludes the impact of translational currency
3
Excludes the net impact of acquisitions and divestitures and translational currency
4
Excludes intangible amortization expense and special items
REGIONAL SALES RESULTS
Q3
% Change
($ in Millions)
2021
2020
Reported
Operational1,2
Currency
Adjusted Operational1,3
U.S.
$ 11,963
$ 11,086
7.9%
7.9
-
8.0
International
11,375
9,996
13.8%
12.1
1.7
13.5
Worldwide
$ 23,338
$ 21,082
10.7%
9.9
0.8
10.6
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
Q3
% Change
($ in Millions)
2021
2020
Reported
Operational1,2
Currency
Adjusted Operational1,3
Consumer Health
$ 3,700
$ 3,514
5.3%
4.1
1.2
5.7
Pharmaceutical
12,994
11,418
13.8%
13.2
0.6
13.8
Medical Devices
6,644
6,150
8.0%
7.0
1.0
7.6
Worldwide
$ 23,338
$ 21,082
10.7%
9.9
0.8
10.6
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
THIRD QUARTER 2021 SEGMENT COMMENTARY:
Consumer Health Consumer Health worldwide operational sales, excluding the net impact of acquisitions and divestitures, increased 5.7% * primarily driven by over-the-counter (OTC) products. Major contributors to growth were TYLENOL and MOTRIN analgesics, upper respiratory products, and digestive health in OTC, and AVEENO in Skin Health / Beauty.
Pharmaceutical Pharmaceutical worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 13.8% * driven by DARZALEX (daratumumab), for the treatment of multiple myeloma, STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, and for adults with active psoriatic arthritis, ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer, INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults, and OPSUMIT (macitentan) an oral endothelin receptor antagonist indicated for the treatment of pulmonary arterial hypertension to delay disease progression. Also contributing to growth was sales of the not-for-profit COVID-19 Vaccine (Ad26.COV2.S) for the treatment of the SARS-CoV-2 virus. This growth was partially offset by declines in U.S. sales of REMICADE (infliximab), a biologic approved for the treatment of a number of immune-mediated inflammatory diseases, and INVOKANA (canagliflozin) for the treatment of adults with type 2 diabetes.
Medical Devices Medical Devices worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 7.6% *, driven by electrophysiology products in Interventional Solutions, wound closure products in General Surgery, surgical vision products and contact lenses in Vision, trauma, hips, and knees in Orthopaedics, and energy, endocutters, and biosurgicals in Advanced Surgery. Growth was partially offset by Spine, Sports & Other.
NOTABLE NEW ANNOUCEMENTS 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 Decisions
INVEGA HAFYERA (paliperidone palmitate) Receives FDA Approval For First and Only Twice-Yearly Treatment for Adults with Schizophrenia
(press release)
XARELTO (rivaroxaban) Plus Aspirin Receives FDA Approval For Expanded Peripheral Artery Disease (PAD) Indication to Include Patients After Lower-Extremity Revascularization (LER)
(press release)
UPTRAVI (selexipag) Receives FDA Approval For Intravenous Use in Adult Patients with Pulmonary Arterial Hypertension (PAH)
(press release)
Regulatory Submissions
Johnson & Johnson Announces Submission of Emergency Use Authorization Amendment to the U.S. FDA to Support Booster of its Single-Shot COVID-19 Vaccine 1
(press release)
Janssen Submits Application Seeking U.S. FDA Approval of STELARA (ustekinumab) for the Treatment of Pediatric Patients With Juvenile Psoriatic Arthritis 1
(press release)
Other
Alex Gorsky to Transition Role of Chief Executive Officer of Johnson & Johnson to Joaquin Duato, Effective January 3, 2022
(press release)
Dr. Paul Stoffels, Vice Chairman of the Executive Committee and Chief Scientific Officer of Johnson & Johnson to Retire, Effective December 31, 2021 1
(press release)
Johnson & Johnson Announces Real-World Evidence and Phase 3 Data Confirming Strong and Long-Lasting Protection of Single-Shot COVID-19 Vaccine in the U.S.
(press release)
Johnson & Johnson Issues Statement on Nationwide Opioid Settlement Agreement
(press release)
DePuy Synthes Announces Introduction of the INHANCE Shoulder System, a First-to-Market, Fully Integrated Shoulder Arthroplasty System
(press release)
Janssen Announces Start of Phase 3 Trial for Investigational Respiratory Syncytial Virus (RSV) Vaccine in Older Adults
(press release)
Janssen Receives Positive CHMP Opinion for BYANNLI (six-monthly paliperidone palmitate) for the Maintenance Treatment of Schizophrenia in Adults
(press release)
Ethicon Announces ECHELON CIRCULAR Powered Stapler Associated with Major Reduction in Serious Complications Following Colorectal Surgery
(press release)
Johnson & Johnson Takes Steps to Equitably Resolve All Current and Future Talc Claims 1
(press release)
Janssen Receives Positive CHMP Opinion for RYBREVANT (amivantamab) for the Treatment of Patients with Advanced Non-Small Cell Lung Cancer with EGFR Exon 20 Insertion Mutations After Failure of Platinum-Based Therapy 1
(press release)
Johnson & Johnson COVID-19 Vaccine Booster Shot Unanimously Recommended for Emergency Use Authorization by U.S. FDA Advisory Committee 1
(press release)
1 Subsequent to the quarter
FULL-YEAR 2021 GUIDANCE: Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.
($ in Billions, except EPS)
October 2021 (Base Business)
October 2021
(incl. COVID Vx)
July 2021
(Base Business)
July 2021
(incl. COVID Vx)
Adjusted Operational Sales1,2
Change vs. Prior Year
9.9% - 10.5%
12.9% - 13.5%
9.5% - 10.5%
12.5% - 13.5%
Operational Sales2
Change vs. Prior Year
$90.3B – 90.8B
9.4% – 10.0%
$92.8 - $93.3B
12.4% – 13.0%
$90.0B - $90.8B
9.0% – 10.0%
$92.5B - $93.3B
12.0% – 13.0%
Estimated Reported Sales3
Change vs. Prior Year
$91.6B - $92.1B
10.9% – 11.5%
$94.1B - $94.6B
13.9% – 14.5%
$91.3B - $92.1B
10.5% – 11.5%
$93.8B - $94.6B
13.5% – 14.5%
Adjusted Operational EPS (Diluted)2,4
Change vs. Prior Year
$9.65 - $9.70
20.2% - 20.8%
$9.50 - $9.60
18.4% - 19.6%
Adjusted EPS (Diluted)3,4
Change vs. Prior Year
$9.77 - $9.82
21.7% - 22.3%
$9.60 - $9.70
19.6% - 20.8%
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: July 2021 = $1.19 and October = $1.19 (Illustrative purposes only)
4
Non-GAAP financial measure; excludes intangible amortization expense and special items
Note: % may have been rounded
Other modeling considerations will be provided on the webcast .
WEBCAST INFORMATION: Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:30 a.m., Eastern Time . A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website . A replay and podcast will be available approximately two hours after the live webcast in the Investors section of the company's website at events-and-presentations .
ABOUT JOHNSON & JOHNSON: At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That's why for more than 130 years, we have aimed to keep people well at every age and every stage of life. Today, as the world's largest and most broadly-based health care company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.
NON-GAAP FINANCIAL MEASURES: *Operational sales growth excluding the impact of translational currency, adjusted operational sales growth excluding the net impact of acquisitions and divestitures and translational currency, as well as adjusted net earnings, adjusted diluted earnings per share and adjusted operational diluted earnings per share excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investors section of the company's website at quarterly-results .
Copies of the financial schedules accompanying this earnings release are available on the company's website at quarterly-results . These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including adjusted income before tax by segment, a pharmaceutical pipeline of selected compounds in late stage development and a copy of today's earnings call presentation can also be found in the Investors section of the company's website at quarterly-results .
NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, market position and business strategy. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays and cancellations of medical procedures, supply chain disruptions and other impacts to the business, or on the Company's ability to execute business continuity plans, as a result of the COVID-19 pandemic, 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 January 3, 2021 including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," in the Company's most recently filed Quarterly Report on Form 10-Q and the Company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov , www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.
Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)
THIRD QUARTER
NINE MONTHS
Percent Change
Percent Change
2021
2020
Total
Operations
Currency
2021
2020
Total
Operations
Currency
Sales to customers by
segment of business
Consumer Health
U.S.
$ 1,625
1,556
4.5
%
4.5
-
$ 4,987
4,853
2.8
%
2.8
-
International
2,075
1,958
5.9
3.7
2.2
5,991
5,582
7.3
3.5
3.8
3,700
3,514
5.3
4.1
1.2
10,978
10,435
5.2
3.1
2.1
Pharmaceutical
U.S.
7,221
6,438
12.2
12.2
-
20,536
18,619
10.3
10.3
-
International
5,773
4,980
15.9
14.6
1.3
17,256
14,685
17.5
12.5
5.0
12,994
11,418
13.8
13.2
0.6
37,792
33,304
13.5
11.3
2.2
Medical Devices
U.S.
3,117
3,092
0.8
0.8
-
9,470
7,852
20.6
20.6
-
International
3,527
3,058
15.4
13.3
2.1
10,731
8,518
26.0
20.5
5.5
6,644
6,150
8.0
7.0
1.0
20,201
16,370
23.4
20.5
2.9
U.S.
11,963
11,086
7.9
7.9
-
34,993
31,324
11.7
11.7
-
International
11,375
9,996
13.8
12.1
1.7
33,978
28,785
18.0
13.1
4.9
Worldwide
$ 23,338
21,082
10.7
%
9.9
0.8
$ 68,971
60,109
14.7
%
12.4
2.3
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)
THIRD QUARTER
NINE MONTHS
Percent Change
Percent Change
2021
2020
Total
Operations
Currency
2021
2020
Total
Operations
Currency
Sales to customers by
geographic area
U.S.
$ 11,963
11,086
7.9
%
7.9
-
$ 34,993
31,324
11.7
%
11.7
-
Europe
5,587
4,819
15.9
14.6
1.3
16,669
13,709
21.6
15.3
6.3
Western Hemisphere excluding U.S.
1,500
1,296
15.7
13.4
2.3
4,291
3,931
9.2
8.1
1.1
Asia-Pacific, Africa
4,288
3,881
10.5
8.5
2.0
13,018
11,145
16.8
12.3
4.5
International
11,375
9,996
13.8
12.1
1.7
33,978
28,785
18.0
13.1
4.9
Worldwide
$ 23,338
21,082
10.7
%
9.9
0.8
$ 68,971
60,109
14.7
%
12.4
2.3
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures)
THIRD QUARTER
2021
2020
Percent
Percent
Percent
Increase
Amount
to Sales
Amount
to Sales
(Decrease)
Sales to customers
$ 23,338
100.0
$ 21,082
100.0
10.7
Cost of products sold
7,250
31.1
6,972
33.1
4.0
Gross Profit
16,088
68.9
14,110
66.9
14.0
Selling, marketing and administrative expenses
6,000
25.7
5,431
25.8
10.5
Research and development expense
3,422
14.7
2,840
13.5
20.5
In-process research and development
900
3.9
138
0.6
Interest (income) expense, net
7
0.0
32
0.1
Other (income) expense, net
1,850
7.9
1,200
5.7
Restructuring
60
0.2
68
0.3
Earnings before provision for taxes on income
3,849
16.5
4,401
20.9
(12.5)
Provision for taxes on income
182
0.8
847
4.0
(78.5)
Net earnings
$ 3,667
15.7
$ 3,554
16.9
3.2
Net earnings per share (Diluted)
$ 1.37
$ 1.33
3.0
Average shares outstanding (Diluted)
2,674.9
2,669.3
Effective tax rate
4.7
%
19.2
%
Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income
$ 8,058
34.5
$ 7,246
34.4
11.2
Net earnings
$ 6,968
29.9
$ 5,868
27.8
18.7
Net earnings per share (Diluted)
$ 2.60
$ 2.20
18.2
Effective tax rate
13.5
%
19.0
%
(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
2021
2020
Percent
Percent
Percent
Increase
Amount
to Sales
Amount
to Sales
(Decrease)
Sales to customers
$ 68,971
100.0
$ 60,109
100.0
14.7
Cost of products sold
21,900
31.8
20,613
34.3
6.2
Gross Profit
47,071
68.2
39,496
65.7
19.2
Selling, marketing and administrative expenses
17,505
25.4
15,627
26.0
12.0
Research and development expense
9,994
14.5
8,127
13.5
23.0
In-process research and development
900
1.3
144
0.3
Interest (income) expense, net
83
0.1
16
0.0
Other (income) expense, net
480
0.7
545
0.9
Restructuring
169
0.2
187
0.3
Earnings before provision for taxes on income
17,940
26.0
14,850
24.7
20.8
Provision for taxes on income
1,798
2.6
1,874
3.1
(4.1)
Net earnings
$ 16,142
23.4
$ 12,976
21.6
24.4
Net earnings per share (Diluted)
$ 6.04
$ 4.86
24.3
Average shares outstanding (Diluted)
2,674.6
2,670.8
Effective tax rate
10.0
%
12.6
%
Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income
$ 24,125
35.0
$ 19,827
33.0
21.7
Net earnings
$ 20,517
29.7
$ 16,468
27.4
24.6
Net earnings per share (Diluted)
$ 7.67
$ 6.17
24.3
Effective tax rate
15.0
%
16.9
%
(1) See Reconciliation of Non-GAAP Financial Measures.
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Third Quarter
Nine Months Ended
(Dollars in Millions Except Per Share Data)
2021
2020
2021
2020
Net Earnings, after tax- as reported
$3,667
$3,554
$16,142
$12,976
Pre-tax Adjustments
Intangible Asset Amortization expense
1,159
1,181
3,576
3,426
Litigation expense, net
2,077
1,477
2,054
2,210
IPR&D
900
138
900
144
Restructuring related
121
130
333
363
Acquisition, integration and divestiture related ¹
20
(154)
(504)
(1,087)
(Gains)/losses on securities
(127)
32
(335)
(174)
Medical Device Regulation
59
38
161
89
Other
-
3
-
6
Tax Adjustments
Tax impact on special item adjustments 2
(849)
(482)
(1,097)
(1,002)
Tax legislation and related impacts
(59)
(49)
(713)
(483)
Adjusted Net Earnings, after tax
$6,968
$5,868
$20,517
$16,468
Average shares outstanding (Diluted)
2,674.9
2,669.3
2,674.6
2,670.8
Adjusted net earnings per share (Diluted)
$2.60
$2.20
$7.67
$6.17
Operational adjusted net earnings per share (Diluted)
$2.56
$7.47
Notes:
1
Acquisition, integration and divestiture related for the nine months of 2021 primarily includes the gain on the divestiture of two Pharmaceutical brands outside of the U.S. Acquisition, integration and divestiture related for 2020 primarily includes a Contingent Consideration reversal ($165M in third quarter and $1,148M in nine months) related to the timing of certain developmental milestones associated with the Auris Health acquisition.
2
The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings.
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure
Adjusted Operational Sales Growth
THIRD QUARTER 2021 ACTUAL vs. 2020 ACTUAL
Segments
Consumer Health
Pharmaceutical
Medical Devices
Total
WW As Reported
5.3%
13.8%
8.0%
10.7%
U.S.
4.5%
12.2%
0.8%
7.9%
International
5.9%
15.9%
15.4%
13.8%
WW Currency
1.2
0.6
1.0
0.8
U.S.
-
-
-
-
International
2.2
1.3
2.1
1.7
WW Operational
4.1%
13.2%
7.0%
9.9%
U.S.
4.5%
12.2%
0.8%
7.9%
International
3.7%
14.6%
13.3%
12.1%
General Surgery
Advanced Sterilization Products
0.4
0.1
U.S.
0.0
0.0
International
0.8
0.2
Skin Health / Beauty
Dr. Ci Labo - Sedona
1.1
0.2
U.S.
0.0
0.0
International
2.0
0.4
All Other Acquisitions and Divestitures
0.5
0.6
0.2
0.4
U.S.
0.6
0.0
0.3
0.1
International
0.3
1.4
0.0
0.8
WW Adjusted Operational
5.7%
13.8%
7.6%
10.6%
U.S.
5.1%
12.2%
1.1%
8.0%
International
6.1%
16.0%
14.1%
13.5%
Note: Percentages are based on actual, non-rounded figures and may not sum
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure
Adjusted Operational Sales Growth
NINE MONTHS 2021 ACTUAL vs. 2020 ACTUAL
Segments
Consumer Health
Pharmaceutical
Medical Devices
Total
WW As Reported
5.2%
13.5%
23.4%
14.7%
U.S.
2.8%
10.3%
20.6%
11.7%
International
7.3%
17.5%
26.0%
18.0%
WW Currency
2.1
2.2
2.9
2.3
U.S.
-
-
-
-
International
3.8
5.0
5.5
4.9
WW Operational
3.1%
11.3%
20.5%
12.4%
U.S.
2.8%
10.3%
20.6%
11.7%
International
3.5%
12.5%
20.5%
13.1%
General Surgery
Advanced Sterilization Products
0.6
0.2
U.S.
0.0
0.0
International
1.2
0.3
Skin Health / Beauty
Dr. Ci Labo - Sedona
0.5
0.1
U.S.
0.0
0.0
International
0.9
0.2
All Other Acquisitions and Divestitures
0.5
0.5
0.2
0.4
U.S.
0.5
(0.1)
0.4
0.1
International
0.3
1.3
0.0
0.7
WW Adjusted Operational
4.1%
11.8%
21.4%
13.1%
U.S.
3.3%
10.2%
21.0%
11.8%
International
4.7%
13.8%
21.7%
14.4%
Note : Percentages are based on actual, non-rounded figures and may not sum
REPORTED SALES vs. PRIOR PERIOD ($MM)
REPORTED SALES vs. PRIOR PERIOD ($MM)
THIRD QUARTER
NINE MONTHS
% Change
% Change
2021
2020
Reported
Operational (1)
Currency
2021
2020
Reported
Operational (1)
Currency
CONSUMER HEALTH SEGMENT (2)
OTC
US
$ 686
601
14.0%
14.0%
-
$ 1,960
1,917
2.2%
2.2%
-
Intl
686
541
26.9%
22.8%
4.1%
1,894
1,722
10.0%
3.9%
6.1%
WW
1,372
1,142
20.1%
18.2%
1.9%
3,854
3,639
5.9%
3.0%
2.9%
SKIN HEALTH / BEAUTY
US
569
572
-0.5%
-0.5%
-
1,862
1,767
5.4%
5.4%
-
Intl
555
577
-3.8%
-5.5%
1.7%
1,595
1,506
5.9%
2.1%
3.8%
WW
1,124
1,149
-2.2%
-3.0%
0.8%
3,457
3,273
5.6%
3.9%
1.7%
ORAL CARE
US
150
164
-8.4%
-8.4%
-
478
510
-6.2%
-6.2%
-
Intl
248
248
0.1%
-1.8%
1.9%
762
694
9.9%
5.9%
4.0%
WW
398
412
-3.3%
-4.5%
1.2%
1,240
1,204
3.0%
0.8%
2.2%
BABY CARE
US
95
91
5.2%
5.2%
-
288
279
3.3%
3.3%
-
Intl
296
302
-2.0%
-3.1%
1.1%
879
831
5.8%
4.6%
1.2%
WW
391
393
-0.3%
-1.2%
0.9%
1,167
1,110
5.2%
4.3%
0.9%
WOMEN'S HEALTH
US
3
3
20.1%
20.1%
-
9
10
-5.7%
-5.7%
-
Intl
229
227
0.5%
0.6%
-0.1%
675
654
3.1%
2.3%
0.8%
WW
232
230
0.8%
0.8%
0.0%
684
664
3.0%
2.1%
0.9%
WOUND CARE / OTHER
US
122
125
-2.6%
-2.6%
-
390
370
5.3%
5.3%
-
Intl
61
64
-5.2%
-9.0%
3.8%
186
175
5.8%
0.0%
5.8%
WW
182
189
-3.5%
-4.8%
1.3%
575
545
5.4%
3.6%
1.8%
TOTAL CONSUMER HEALTH
US
1,625
1,556
4.5%
4.5%
-
4,987
4,853
2.8%
2.8%
-
Intl
2,075
1,958
5.9%
3.7%
2.2%
5,991
5,582
7.3%
3.5%
3.8%
WW
$ 3,700
3,514
5.3%
4.1%
1.2%
$ 10,978
10,435
5.2%
3.1%
2.1%
See footnotes at end of schedule
REPORTED SALES vs. PRIOR PERIOD ($MM)
REPORTED SALES vs. PRIOR PERIOD ($MM)
THIRD QUARTER
NINE MONTHS
% Change
% Change
PHARMACEUTICAL SEGMENT (2,3)
2021
2020
Reported
Operational (1)
Currency
2021
2020
Reported
Operational (1)
Currency
IMMUNOLOGY
US
$ 2,771
2,558
8.3%
8.3%
-
$ 7,932
7,330
8.2%
8.2%
-
Intl
1,480
1,230
20.3%
18.8%
1.5%
4,464
3,619
23.3%
17.6%
5.7%
WW
4,250
3,789
12.2%
11.7%
0.5%
12,395
10,950
13.2%
11.3%
1.9%
REMICADE
US
480
634
-24.3%
-24.3%
-
1,508
1,852
-18.6%
-18.6%
-
US Exports (4)
47
78
-40.2%
-40.2%
-
197
321
-38.7%
-38.7%
-
Intl
234
209
12.2%
8.1%
4.1%
721
673
7.1%
1.4%
5.7%
WW
761
921
-17.4%
-18.3%
0.9%
2,426
2,846
-14.8%
-16.1%
1.3%
SIMPONI / SIMPONI ARIA
US
295
312
-5.3%
-5.3%
-
840
840
0.0%
0.0%
-
Intl
276
280
-1.1%
-0.7%
-0.4%
877
827
6.1%
2.8%
3.3%
WW
571
592
-3.3%
-3.1%
-0.2%
1,717
1,667
3.0%
1.4%
1.6%
STELARA
US
1,569
1,313
19.5%
19.5%
-
4,396
3,668
19.9%
19.9%
-
Intl
809
634
27.7%
26.3%
1.4%
2,404
1,795
33.9%
27.5%
6.4%
WW
2,378
1,947
22.2%
21.7%
0.5%
6,800
5,463
24.5%
22.4%
2.1%
TREMFYA
US
376
222
69.7%
69.7%
-
975
650
50.1%
50.1%
-
Intl
161
105
52.5%
50.5%
2.0%
459
316
45.4%
38.0%
7.4%
WW
537
327
64.1%
63.5%
0.6%
1,434
965
48.5%
46.1%
2.4%
OTHER IMMUNOLOGY
US
3
-
*
*
-
15
-
*
*
-
Intl
0
3
*
*
*
3
9
-68.6%
-70.8%
2.2%
WW
3
3
-26.4%
-27.5%
1.1%
18
9
91.6%
89.5%
2.1%
INFECTIOUS DISEASES
US
679
413
64.3%
64.3%
-
1,635
1,265
29.2%
29.2%
-
Intl
709
451
57.2%
55.6%
1.6%
1,788
1,397
28.0%
23.2%
4.8%
WW
1,389
864
60.6%
59.8%
0.8%
3,424
2,662
28.6%
26.1%
2.5%
COVID-19 VACCINE
US
270
-
*
*
-
421
-
*
*
-
Intl
233
-
*
*
-
346
-
*
*
-
WW
502
-
*
*
-
766
-
*
*
-
EDURANT / rilpivirine
US
12
11
8.4%
8.4%
-
31
33
-4.8%
-4.8%
-
Intl
247
226
9.7%
8.7%
1.0%
733
684
7.2%
1.7%
5.5%
WW
259
236
9.6%
8.6%
1.0%
764
716
6.7%
1.4%
5.3%
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US
380
379
0.4%
0.4%
-
1,128
1,154
-2.2%
-2.2%
-
Intl
137
147
-7.1%
-8.8%
1.7%
440
461
-4.6%
-8.6%
4.0%
WW
517
526
-1.7%
-2.2%
0.5%
1,568
1,615
-2.9%
-4.1%
1.2%
OTHER INFECTIOUS DISEASES
US
18
24
-26.0%
-26.0%
-
55
79
-29.6%
-29.6%
-
Intl
93
78
18.3%
15.2%
3.1%
270
252
6.9%
2.6%
4.3%
WW
110
102
7.8%
5.4%
2.4%
325
331
-1.8%
-5.0%
3.2%
REPORTED SALES vs. PRIOR PERIOD ($MM)
REPORTED SALES vs. PRIOR PERIOD ($MM)
THIRD QUARTER
NINE MONTHS
% Change
% Change
2021
2020
Reported
Operational (1)
Currency
2021
2020
Reported
Operational (1)
Currency
NEUROSCIENCE
US
835
759
10.2%
10.2%
-
2,448
2,285
7.2%
7.2%
-
Intl
854
846
0.8%
-0.5%
1.3%
2,770
2,565
8.0%
4.1%
3.9%
WW
1,689
1,605
5.3%
4.6%
0.7%
5,218
4,850
7.6%
5.5%
2.1%
CONCERTA / Methylphenidate
US
35
43
-19.5%
-19.5%
-
117
150
-22.1%
-22.1%
-
Intl
122
107
14.2%
12.5%
1.7%
372
319
16.4%
11.6%
4.8%
WW
157
149
4.5%
3.3%
1.2%
489
469
4.1%
0.8%
3.3%
INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA
US
648
585
11.0%
11.0%
-
1,882
1,704
10.4%
10.4%
-
Intl
355
341
4.3%
3.2%
1.1%
1,111
983
13.0%
7.6%
5.4%
WW
1,004
926
8.5%
8.1%
0.4%
2,994
2,688
11.4%
9.4%
2.0%
RISPERDAL CONSTA
US
71
70
1.3%
1.3%
-
210
220
-4.7%
-4.7%
-
Intl
69
81
-16.7%
-16.0%
-0.7%
242
254
-5.1%
-8.3%
3.2%
WW
140
152
-8.4%
-8.0%
-0.4%
452
475
-4.9%
-6.6%
1.7%
OTHER NEUROSCIENCE
US
81
60
34.7%
34.7%
-
239
210
13.9%
13.9%
-
Intl
307
317
-2.9%
-4.8%
1.9%
1,045
1,008
3.7%
1.5%
2.2%
WW
388
377
3.1%
1.5%
1.6%
1,284
1,218
5.5%
3.6%
1.9%
ONCOLOGY
US
1,525
1,267
20.3%
20.3%
-
4,364
3,623
20.4%
20.4%
-
Intl
2,140
1,862
14.9%
13.8%
1.1%
6,406
5,310
20.6%
15.3%
5.3%
WW
3,665
3,129
17.1%
16.5%
0.6%
10,770
8,933
20.6%
17.4%
3.2%
DARZALEX
US
841
585
43.7%
43.7%
-
2,302
1,540
49.5%
49.5%
-
Intl
739
514
43.7%
42.0%
1.7%
2,076
1,397
48.6%
42.2%
6.4%
WW
1,580
1,099
43.7%
42.9%
0.8%
4,378
2,937
49.1%
46.0%
3.1%
ERLEADA
US
214
152
40.5%
40.5%
-
578
407
41.8%
41.8%
-
Intl
130
55
*
*
*
329
112
*
*
*
WW
344
206
66.7%
65.8%
0.9%
907
519
74.7%
72.2%
2.5%
IMBRUVICA
US
413
450
-8.3%
-8.3%
-
1,311
1,329
-1.3%
-1.3%
-
Intl
654
581
12.6%
10.9%
1.7%
1,996
1,682
18.7%
13.1%
5.6%
WW
1,066
1,031
3.5%
2.5%
1.0%
3,307
3,011
9.9%
6.7%
3.2%
ZYTIGA / abiraterone acetate
US
25
58
-57.0%
-57.0%
-
96
284
-66.2%
-66.2%
-
Intl
523
532
-1.8%
-2.1%
0.3%
1,653
1,564
5.7%
0.9%
4.8%
WW
548
590
-7.2%
-7.5%
0.3%
1,749
1,848
-5.4%
-9.4%
4.0%
OTHER ONCOLOGY
US
32
21
49.6%
49.6%
-
76
63
21.0%
21.0%
-
Intl
94
181
-48.0%
-47.2%
-0.8%
352
556
-36.6%
-38.5%
1.9%
WW
126
203
-37.6%
-36.9%
-0.7%
428
619
-30.7%
-32.4%
1.7%
REPORTED SALES vs. PRIOR PERIOD ($MM)
REPORTED SALES vs. PRIOR PERIOD ($MM)
THIRD QUARTER
NINE MONTHS
% Change
% Change
2021
2020
Reported
Operational (1)
Currency
2021
2020
Reported
Operational (1)
Currency
PULMONARY HYPERTENSION
US
610
510
19.7%
19.7%
-
1,778
1,541
15.4%
15.4%
-
Intl
258
239
7.9%
8.4%
-0.5%
821
742
10.7%
7.3%
3.4%
WW
868
749
15.9%
16.1%
-0.2%
2,599
2,283
13.9%
12.7%
1.2%
OPSUMIT
US
299
244
22.8%
22.8%
-
861
729
18.2%
18.2%
-
Intl
159
148
7.4%
7.8%
-0.4%
510
458
11.3%
7.7%
3.6%
WW
458
392
17.0%
17.1%
-0.1%
1,371
1,187
15.5%
14.1%
1.4%
UPTRAVI
US
265
226
17.3%
17.3%
-
792
692
14.6%
14.6%
-
Intl
44
34
30.4%
28.8%
1.6%
135
100
34.6%
27.9%
6.7%
WW
309
260
19.0%
18.8%
0.2%
927
792
17.1%
16.2%
0.9%
OTHER PULMONARY HYPERTENSION
US
47
40
14.4%
14.4%
-
125
121
2.8%
2.8%
-
Intl
54
57
-4.4%
-2.1%
-2.3%
176
183
-3.7%
-5.0%
1.3%
WW
101
97
3.4%
4.8%
-1.4%
301
304
-1.1%
-1.9%
0.8%
CARDIOVASCULAR / METABOLISM / OTHER
US
800
931
-14.0%
-14.0%
-
2,379
2,574
-7.6%
-7.6%
-
Intl
333
351
-5.1%
-8.2%
3.1%
1,007
1,052
-4.2%
-9.3%
5.1%
WW
1,133
1,281
-11.5%
-12.4%
0.9%
3,386
3,625
-6.6%
-8.1%
1.5%
XARELTO
US
636
630
0.8%
0.8%
-
1,794
1,716
4.5%
4.5%
-
Intl
-
-
-
-
-
-
-
-
-
-
WW
636
630
0.8%
0.8%
-
1,794
1,716
4.5%
4.5%
-
INVOKANA / INVOKAMET
US
66
156
-57.4%
-57.4%
-
249
405
-38.4%
-38.4%
-
Intl
67
68
-1.0%
-4.3%
3.3%
194
173
11.9%
5.8%
6.1%
WW
133
224
-40.3%
-41.3%
1.0%
443
578
-23.4%
-25.2%
1.8%
PROCRIT / EPREX
US
47
69
-30.9%
-30.9%
-
168
215
-21.7%
-21.7%
-
Intl
65
63
3.1%
0.5%
2.6%
198
208
-4.7%
-9.7%
5.0%
WW
112
132
-14.6%
-15.8%
1.2%
366
423
-13.4%
-15.8%
2.4%
OTHER
US
51
75
-32.6%
-32.6%
-
168
238
-29.3%
-29.3%
-
Intl
200
219
-8.7%
-11.9%
3.2%
615
670
-8.3%
-13.1%
4.8%
WW
251
294
-14.8%
-17.2%
2.4%
783
908
-13.8%
-17.3%
3.5%
TOTAL PHARMACEUTICAL
US
7,221
6,438
12.2%
12.2%
-
20,536
18,619
10.3%
10.3%
-
Intl
5,773
4,980
15.9%
14.6%
1.3%
17,256
14,685
17.5%
12.5%
5.0%
WW
$ 12,994
11,418
13.8%
13.2%
0.6%
$ 37,792
33,304
13.5%
11.3%
2.2%
REPORTED SALES vs. PRIOR PERIOD ($MM)
REPORTED SALES vs. PRIOR PERIOD ($MM)
THIRD QUARTER
NINE MONTHS
% Change
% Change
MEDICAL DEVICES SEGMENT (2)
2021
2020
Reported
Operational (1)
Currency
2021
2020
Reported
Operational (1)
Currency
INTERVENTIONAL SOLUTIONS
US
$ 444
399
11.1%
11.1%
-
1,353
1,019
32.7%
32.7%
-
Intl
513
437
17.7%
15.1%
2.6%
1,599
1,134
41.1%
34.3%
6.8%
WW
957
836
14.5%
13.2%
1.3%
2,952
2,153
37.1%
33.6%
3.5%
ORTHOPAEDICS
US
1,249
1,308
-4.5%
-4.5%
-
3,821
3,427
11.5%
11.5%
-
Intl
843
774
8.8%
6.8%
2.0%
2,611
2,145
21.7%
15.4%
6.3%
WW
2,093
2,083
0.5%
-0.3%
0.8%
6,433
5,572
15.4%
13.0%
2.4%
HIPS
US
210
221
-5.3%
-5.3%
-
654
564
15.9%
15.9%
-
Intl
146
124
18.8%
16.0%
2.8%
451
344
31.3%
24.1%
7.2%
WW
356
345
3.3%
2.3%
1.0%
1,105
908
21.8%
19.0%
2.8%
KNEES
US
184
205
-9.8%
-9.8%
-
579
527
10.0%
10.0%
-
Intl
131
102
28.1%
25.9%
2.2%
403
298
35.4%
28.2%
7.2%
WW
316
308
2.8%
2.1%
0.7%
983
825
19.2%
16.6%
2.6%
TRAUMA
US
455
433
5.3%
5.3%
-
1,352
1,194
13.3%
13.3%
-
Intl
260
253
2.4%
0.9%
1.5%
805
698
15.2%
9.5%
5.7%
WW
715
685
4.2%
3.7%
0.5%
2,157
1,892
14.0%
11.9%
2.1%
SPINE, SPORTS & OTHER
US
400
449
-11.1%
-11.1%
-
1,236
1,142
8.2%
8.2%
-
Intl
306
295
3.5%
1.5%
2.0%
952
805
18.2%
12.0%
6.2%
WW
705
745
-5.3%
-6.1%
0.8%
2,187
1,947
12.3%
9.7%
2.6%
REPORTED SALES vs. PRIOR PERIOD ($MM)
REPORTED SALES vs. PRIOR PERIOD ($MM)
THIRD QUARTER
NINE MONTHS
% Change
% Change
2021
2020
Reported
Operational (1)
Currency
2021
2020
Reported
Operational (1)
Currency
SURGERY
US
948
913
3.9%
3.9%
-
2,881
2,247
28.2%
28.2%
-
Intl
1,457
1,239
17.6%
14.8%
2.8%
4,418
3,556
24.2%
18.4%
5.8%
WW
2,405
2,152
11.8%
10.2%
1.6%
7,299
5,803
25.8%
22.2%
3.6%
ADVANCED
US
440
421
4.6%
4.6%
-
1,304
1,079
20.9%
20.9%
-
Intl
705
579
21.8%
18.4%
3.4%
2,126
1,644
29.3%
23.1%
6.2%
WW
1,144
1,000
14.6%
12.6%
2.0%
3,430
2,723
26.0%
22.2%
3.8%
GENERAL
US
508
492
3.3%
3.3%
-
1,577
1,168
35.0%
35.0%
-
Intl
752
660
13.9%
11.7%
2.2%
2,292
1,912
19.9%
14.5%
5.4%
WW
1,261
1,152
9.4%
8.1%
1.3%
3,869
3,080
25.6%
22.3%
3.3%
VISION
US
475
473
0.6%
0.6%
-
1,414
1,160
21.9%
21.9%
-
Intl
714
608
17.4%
17.4%
0.0%
2,103
1,683
25.0%
22.0%
3.0%
WW
1,189
1,081
10.1%
10.0%
0.1%
3,517
2,843
23.7%
22.0%
1.7%
CONTACT LENSES / OTHER
US
359
375
-4.3%
-4.3%
-
1,082
924
17.0%
17.0%
-
Intl
522
455
14.9%
15.2%
-0.3%
1,525
1,274
19.8%
17.3%
2.5%
WW
882
830
6.2%
6.4%
-0.2%
2,607
2,198
18.6%
17.2%
1.4%
SURGICAL
US
117
98
19.6%
19.6%
-
333
236
41.1%
41.1%
-
Intl
191
153
24.7%
23.7%
1.0%
577
409
41.1%
36.7%
4.4%
WW
308
251
22.7%
22.1%
0.6%
910
645
41.1%
38.3%
2.8%
TOTAL MEDICAL DEVICES
US
3,117
3,092
0.8%
0.8%
-
9,470
7,852
20.6%
20.6%
-
Intl
3,527
3,058
15.4%
13.3%
2.1%
10,731
8,518
26.0%
20.5%
5.5%
WW
$ 6,644
6,150
8.0%
7.0%
1.0%
$ 20,201
16,370
23.4%
20.5%
2.9%
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) Certain prior year amounts have been reclassified to conform to current year product disclosures
(4) Reported as U.S. sales
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SOURCE Johnson & Johnson