Johnson & Johnson Reports Q1 2022 Results

Rhea-AI Summary

Johnson & Johnson (NYSE: JNJ) reported Q1 2022 sales of $23.4 billion, a 5.0% increase, with operational growth at 7.7%. Adjusted earnings per share rose 3.1% to $2.67, while diluted EPS fell 16.8% to $1.93. The suspension of COVID-19 Vaccine sales guidance reflects a global supply surplus and demand uncertainty, though it won't affect adjusted operational EPS guidance. The Pharmaceutical segment drove growth, particularly from DARZALEX and STELARA. Consumer Health sales declined slightly, impacted by supply constraints, while MedTech saw an 8.6% increase in adjusted operational sales.

Positive

• Adjusted EPS increased by 3.1% to $2.67.
• Worldwide operational sales grew by 7.7%, indicating strong performance.
• Pharmaceutical segment growth was robust, driven by key products like DARZALEX and STELARA.
• MedTech segment showed significant growth of 8.6% in adjusted operational sales.

Negative

• Diluted EPS decreased by 16.8% to $1.93.
• Consumer Health sales slightly declined by 1.5%, affected by external supply constraints.

• Total sales growth of 5.0% to $23.4 Billion with operational growth of 7.7%* and adjusted operational growth of 7.9%*
• Earnings per share of $1.93 decreasing 16.8% and adjusted earnings per share of $2.67 increasing 3.1%*
• Company maintaining 2022 full-year guidance for adjusted operational earnings per share and base business operational sales
• Given global supply surplus and demand uncertainty, the Company is suspending COVID-19 Vaccine sales guidance, with no impact to adjusted operational earnings per share guidance

NEW BRUNSWICK, N.J., April 19, 2022 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced results for first-quarter 2022. "Our first quarter results demonstrate strong performance across the enterprise, despite macro-economic headwinds. I am incredibly proud of Johnson & Johnson's 144,000 employees for their relentless passion and Credo-based commitment to delivering transformative healthcare solutions to patients and customers around the world," said Joaquin Duato, Chief Executive Officer.  "Looking ahead, I remain confident in the future of Johnson & Johnson as we continue advancing our portfolio and innovative pipeline."

OVERALL FINANCIAL RESULTS
	Q1
($ in Millions, except EPS)	2022	2021	%  Change
Reported Sales	$       23,426	$       22,321	5.0%
Net Earnings	5,149	6,197	(16.9)%
EPS (diluted)	$           1.93	$           2.32	(16.8)%
	Q1
Non-GAAP* ($ in Millions, except EPS)	2022	2021	%  Change
Operational Sales1,2			7.7%
Adjusted Operational Sales1,3			7.9%
Adjusted Net Earnings1,4	7,129	6,924	3.0%
Adjusted EPS (diluted)1,4	$           2.67	$           2.59	3.1%

1	Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2	Excludes the impact of translational currency
3	Excludes the net impact of acquisitions and divestitures and translational currency
4	Excludes intangible amortization expense and special items
	Note: values may have been rounded

 

REGIONAL SALES RESULTS
Q1			%  Change
($ in Millions)	2022	2021	Reported	Operational1,2	Currency	Adjusted Operational1,3
U.S.	$      11,414	$      11,111	2.7%	2.7	-	2.8
International	12,012	11,210	7.2%	12.6	(5.4)	12.9
Worldwide	$      23,426	$      22,321	5.0%	7.7	(2.7)	7.9

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
Q1			%  Change
($ in Millions)	2022	2021	Reported	Operational1,2	Currency	Adjusted Operational1,3
Consumer Health4	$         3,586	$         3,641	(1.5)%	0.8	(2.3)	1.6
Pharmaceutical4	12,869	12,101	6.3%	9.3	(3.0)	9.3
MedTech	6,971	6,579	5.9%	8.5	(2.6)	8.6
Worldwide	$       23,426	$      22,321	5.0%	7.7	(2.7)	7.9

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	Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes in their respective regions
	Note: The MedTech segment was previously referred to as the Medical Devices segment
	Values may have been rounded

   

FIRST QUARTER 2022 SEGMENT COMMENTARY:

Consumer Health
Consumer Health worldwide adjusted operational sales, which exclude the net impact of acquisitions and divestitures and translational currency, increased 1.6%* primarily driven by over-the-counter (OTC) products. Major contributors to growth in OTC were upper respiratory products, TYLENOL and MOTRIN analgesics, and IMODIUM in digestive health products. Growth was partially offset by external supply constraints mainly impacting Skin Health / Beauty.

Pharmaceutical
Pharmaceutical worldwide adjusted operational sales, which exclude the net impact of acquisitions and divestitures and translational currency, grew 9.3%* driven by DARZALEX (daratumumab), a biologic 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, and INVEGA SUSTENNA/XEPLION and INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults. Also contributing to growth were sales of the Janssen COVID-19 Vaccine (Ad26.COV2.S) for the prevention of the SARS-CoV-2 virus. This growth was partially offset by declines in sales of REMICADE (infliximab), a biologic approved for the treatment of a number of immune-mediated inflammatory diseases, XARELTO (rivaroxaban), a direct oral anticoagulant, and ZYTIGA (abiratone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic castration-resistant prostate cancer.

MedTech
MedTech worldwide adjusted operational sales, which exclude the net impact of acquisitions and divestitures and translational currency, grew 8.6%*, driven by electrophysiology products in Interventional Solutions, contact lenses and surgical vision products in Vision, wound closure products in General Surgery, biosurgery in Advanced Surgery, and hips, trauma, and knees in Orthopaedics.

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 and information available in the Investors section of the company's website at news releases, as well as www.factsabouttalc.com, www.factsaboutourprescriptionopioids.com, and www.LTLManagementInformation.com.

Regulatory Decisions	U.S. FDA Approves CARVYKTI (ciltacabtagene autoleucel), Janssen's First Cell Therapy, a BCMA-Directed CAR-T Immunotherapy for the Treatment of Patients with Relapsed or Refractory Multiple Myeloma	(press release)
	U.S. FDA Approves CABENUVA (rilpivirine and cabotegravir) for Use Every Two Months, Expanding the Label of the First and Only Long-Acting HIV Treatment	(press release)
	U.S. FDA Approves CABENUVA (cabotegravir and rilpivirine) for Adolescents, Expanding the Indication of the First and Only Complete Long-Acting Injectable HIV Regimen1	(press release)
	U.S. FDA Approves Streamlined Process for Initiating HIV Therapy with CABENUVA (cabotegravir and rilpivirine), the First and Only Complete Long-Acting Injectable HIV Treatment	(press release)
Regulatory Submissions	Janssen Submits Marketing Authorisation Application to the European Medicines Agency Seeking Approval of Bispecific Antibody Teclistamab for the Treatment of Patients with Relapsed or Refractory Multiple Myeloma	(press release)
	Janssen Seeks Approval of a New Indication for IMBRUVICA (ibrutinib) for Use in Patients with Untreated Mantle Cell Lymphoma	(press release)
Other	Janssen Presents New Data Demonstrating the Combination of Niraparib and Abiraterone Acetate Plus Prednisone Significantly Improved Radiographic Progression-Free Survival as a First-Line Therapy in Patients with HRR Gene-Mutated Metastatic Castration-Resistant Prostate Cancer	(press release)
	Johnson & Johnson Statement on Nationwide Opioid Settlement Agreement	(press release)
	DePuy Synthes Further Reimagines Knee Restoration with the Addition of Two New Innovations to the ATTUNE Knee Portfolio	(press release)
	Janssen Initiates First-of-its-Kind Clinical Study to Bridge Critical Gaps in Care for People of Color with Moderate to Severe Plaque Psoriasis	(press release)
	Johnson & Johnson Statement on War in Ukraine	(press release)

1Subsequent to the quarter

   

FULL-YEAR 2022 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.

Please note that the Company has suspended guidance on its COVID-19 Vaccine sales. The table below excludes COVID-19 Vaccine sales from Adjusted Operational Sales, Operational Sales, and Estimated Reported Sales.

($ in Billions, except EPS)	April 2022	January 2022
Adjusted Operational Sales1,2,5 Change vs. Prior Year	6.5% – 7.5%	6.5% – 7.5%
Operational Sales2,5 Change vs. Prior Year	$97.3B – $98.3B 6.5% – 7.5%	$97.3B – $98.3B 6.5% – 7.5%
Estimated Reported Sales3,5 Change vs. Prior Year	$94.8B – $95.8B 3.8% – 4.8%	$95.9B - $96.9B 5.0% – 6.0%
Adjusted Operational EPS (Diluted)2,4 Change vs. Prior Year	$10.60 - $10.80 8.2% – 10.2%	$10.60 - $10.80 8.2% – 10.2%
Adjusted EPS (Diluted)3,4 Change vs. Prior Year	$10.15 - $10.35 3.6% – 5.6%	$10.40 - $10.60 6.1% – 8.2%

1	Non-GAAP financial measure; excludes the net impact of acquisitions and divestitures
2	Non-GAAP financial measure; excludes the impact of translational currency
3	Calculated using Euro Average Rate: January 2022 = $1.14 and April = $1.09 (Illustrative purposes only)
4	Non-GAAP financial measure; excludes intangible amortization expense and special items
5	Excludes COVID-19 Vaccine
	Note: percentages 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, and the anticipated separation of the Company's Consumer Health business. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies; the Company's ability to satisfy the necessary conditions to consummate the separation of the Company's Consumer Health business on a timely basis or at all; the Company's ability to successfully separate the Company's Consumer Health business and realize the anticipated benefits from the separation; the New Consumer Health Company's ability to succeed as a standalone publicly traded company; and 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. 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 2, 2022, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in Johnson & Johnson's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

 

Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)	FIRST QUARTER
					Percent Change
	2022		2021		Total		Operations		Currency
Sales to customers by
segment of business
Consumer Health (1)
U.S.	$   1,557		1,611		(3.4)	%	(3.4)		-
International	2,029		2,030		0.0		4.1		(4.1)
	3,586		3,641		(1.5)		0.8		(2.3)
Pharmaceutical (1)
U.S.	6,632		6,446		2.9		2.9		-
International	6,237		5,655		10.3		16.7		(6.4)
	12,869		12,101		6.3		9.3		(3.0)
MedTech (2)
U.S.	3,225		3,054		5.6		5.6		-
International	3,746		3,525		6.3		11.1		(4.8)
	6,971		6,579		5.9		8.5		(2.6)
U.S.	11,414		11,111		2.7		2.7		-
International	12,012		11,210		7.2		12.6		(5.4)
Worldwide	$ 23,426		22,321		5.0	%	7.7		(2.7)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1) Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes in their respective regions
(2) Previously referred to as Medical Devices

 

 

Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)	FIRST QUARTER
					Percent Change
	2022		2021		Total		Operations		Currency
Sales to customers by
geographic area
U.S.	$  11,414		11,111		2.7	%	2.7		-
Europe	6,024		5,414		11.3		19.5		(8.2)
Western Hemisphere excluding U.S.	1,482		1,424		4.1		5.1		(1.0)
Asia-Pacific, Africa	4,506		4,372		3.1		6.6		(3.5)
International	12,012		11,210		7.2		12.6		(5.4)
Worldwide	$  23,426		22,321		5.0	%	7.7		(2.7)
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)	FIRST QUARTER
	2022				2021				Percent
			Percent				Percent		Increase
	Amount		to Sales		Amount		to Sales		(Decrease)
Sales to customers	$      23,426		100.0		$         22,321		100.0		5.0
Cost of products sold	7,598		32.4		7,063		31.7		7.6
Gross Profit	15,828		67.6		15,258		68.3		3.7
Selling, marketing and administrative expenses	5,938		25.4		5,432		24.3		9.3
Research and development expense	3,462		14.8		3,178		14.2		8.9
In-process research and development	610		2.6		-		-
Interest (income) expense, net	(12)		(0.1)		48		0.2
Other (income) expense, net	(102)		(0.4)		(882)		(3.9)
Restructuring	70		0.3		53		0.2
Earnings before provision for taxes on income	5,862		25.0		7,429		33.3		(21.1)
Provision for taxes on income	713		3.0		1,232		5.5		(42.1)
Net earnings	5,149		22.0		6,197		27.8		(16.9)
Net earnings per share (Diluted)	$          1.93				$             2.32				(16.8)
Average shares outstanding (Diluted)	2,666.5				2,672.7
Effective tax rate	12.2	%			16.6	%
Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income	$        8,218		35.1		$           8,291		37.1		(0.9)
Net earnings	$        7,129		30.4		$           6,924		31.0		3.0
Net earnings per share (Diluted)	$          2.67				$             2.59				3.1
Effective tax rate	13.3	%			16.5	%
(1) See Reconciliation of Non-GAAP Financial Measures.

 

 

Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
			First Quarter
	(Dollars in Millions Except Per Share Data)		2022		2021
	Net Earnings, after tax- as reported		$5,149		$6,197
	Pre-tax Adjustments
	Intangible Asset Amortization expense		1,108		1,215
	IPR&D		610		-
	Restructuring related		72		104
	Acquisition, integration and divestiture related ¹		-		(538)
	(Gains)/losses on securities		411		35
	Medical Device Regulation 2		60		46
	Consumer Health separation costs		102		-
	Other		(7)		-
	Tax Adjustments
	Tax impact on special item adjustments 3		(393)		(113)
	Consumer Health separation tax related costs		96		-
	Tax legislation and other tax related		(79)		(22)
	Adjusted Net Earnings, after tax		$7,129		$6,924
	Average shares outstanding (Diluted)		2,666.5		2,672.7
	Adjusted net earnings per share (Diluted)		$2.67		$2.59
	Operational adjusted net earnings per share (Diluted)		$2.75
	Notes:
1	Acquisition, integration and divestiture related for the first quarter of 2021 primarily includes the gain on the divestiture of 2 Pharmaceutical brands outside of the U.S.
2	European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company's previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices were required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations.  The Company has excluded only external third-party regulatory and consulting costs from its MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance which is expected to be completed by the end of 2023.
3	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
FIRST QUARTER 2022 ACTUAL vs. 2021 ACTUAL
Segments
		Consumer Health		Pharmaceutical		MedTech		Total
WW As Reported		(1.5)%		6.3%		5.9%		5.0%
U.S.		(3.4)%		2.9%		5.6%		2.7%
International		0.0%		10.3%		6.3%		7.2%
WW Currency		(2.3)		(3.0)		(2.6)		(2.7)
U.S.		-		-		-		-
International		(4.1)		(6.4)		(4.8)		(5.4)
WW Operational		0.8%		9.3%		8.5%		7.7%
U.S.		(3.4)%		2.9%		5.6%		2.7%
International		4.1%		16.7%		11.1%		12.6%
Skin Health / Beauty
Dr. Ci Labo - Sedona		0.6						0.1
U.S.		0.0						0.0
International		1.1						0.2
All Other Acquisitions and Divestitures		0.2		0.0		0.1		0.1
U.S.		0.2		0.0		0.1		0.1
International		0.1		0.0		0.1		0.1
WW Adjusted Operational		1.6%		9.3%		8.6%		7.9%
U.S.		(3.2)%		2.9%		5.7%		2.8%
International		5.3%		16.7%		11.2%		12.9%
Note: Percentages are based on actual, non-rounded figures and may not sum.

 

 

	REPORTED SALES vs. PRIOR PERIOD ($MM)
	FIRST QUARTER
					% Change
		2022		2021	Reported	Operational (1)	Currency
CONSUMER HEALTH SEGMENT (2,3)
OTC (5)
US		$             670		599	11.8%	11.8%	-
Intl		791		673	17.5%	21.7%	-4.2%
WW		1,461		1,273	14.8%	17.1%	-2.3%
SKIN HEALTH / BEAUTY
US		544		634	-14.2%	-14.2%	-
Intl		468		529	-11.6%	-7.1%	-4.5%
WW		1,012		1,163	-13.0%	-11.0%	-2.0%
ORAL CARE
US		143		163	-12.6%	-12.6%	-
Intl		223		254	-12.0%	-8.6%	-3.4%
WW		366		417	-12.2%	-10.2%	-2.0%
BABY CARE
US		85		96	-11.5%	-11.5%	-
Intl		270		293	-7.7%	-4.8%	-2.9%
WW		355		389	-8.6%	-6.4%	-2.2%
WOMEN'S HEALTH
US		3		3	7.2%	7.2%	-
Intl		224		219	2.5%	8.3%	-5.8%
WW		228		222	2.6%	8.3%	-5.7%
WOUND CARE / OTHER
US		112		115	-3.3%	-3.3%	-
Intl		52		61	-15.3%	-14.5%	-0.8%
WW		164		177	-7.4%	-7.2%	-0.2%
TOTAL CONSUMER HEALTH
US		1,557		1,611	-3.4%	-3.4%	-
Intl		2,029		2,030	0.0%	4.1%	-4.1%
WW		$          3,586		3,641	-1.5%	0.8%	-2.3%
See footnotes at end of schedule

 

 

	REPORTED SALES vs. PRIOR PERIOD ($MM)
	FIRST QUARTER
					% Change
PHARMACEUTICAL SEGMENT (2,3)		2022		2021	Reported	Operational (1)	Currency
IMMUNOLOGY
US		$          2,501		2,413	3.7%	3.7%	-
Intl		1,617		1,501	7.7%	13.7%	-6.0%
WW		4,119		3,914	5.2%	7.5%	-2.3%
REMICADE
US		358		489	-26.8%	-26.8%	-
US Exports (4)		80		57	40.5%	40.5%	-
Intl		225		232	-2.6%	-1.0%	-1.6%
WW		663		777	-14.7%	-14.2%	-0.5%
SIMPONI / SIMPONI ARIA
US		287		255	12.5%	12.5%	-
Intl		283		307	-7.6%	-1.9%	-5.7%
WW		571		562	1.5%	4.7%	-3.2%
STELARA
US		1,379		1,331	3.6%	3.6%	-
Intl		909		817	11.2%	17.8%	-6.6%
WW		2,288		2,148	6.5%	9.0%	-2.5%
TREMFYA
US		391		274	42.7%	42.7%	-
Intl		199		143	38.8%	47.9%	-9.1%
WW		590		418	41.3%	44.5%	-3.2%
OTHER IMMUNOLOGY
US		6		7	-3.2%	-3.2%	-
Intl		0		2	*	*	*
WW		6		8	-22.0%	-22.0%	-
INFECTIOUS DISEASES (5)
US		461		512	-10.0%	-10.0%	-
Intl		836		485	72.3%	78.6%	-6.3%
WW		1,297		998	30.0%	33.1%	-3.1%
COVID-19 VACCINE
US		75		100	-24.9%	-24.9%	-
Intl		382		0	*	*	*
WW		457		100	*	*	*
EDURANT / rilpivirine
US		9		10	-12.6%	-12.6%	-
Intl		239		233	2.5%	10.5%	-8.0%
WW		248		243	1.8%	9.6%	-7.8%
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US		369		380	-3.1%	-3.1%	-
Intl		132		166	-20.3%	-15.9%	-4.4%
WW		501		546	-8.3%	-6.9%	-1.4%
OTHER INFECTIOUS DISEASES
US		8		21	-62.5%	-62.5%	-
Intl		83		87	-3.8%	1.6%	-5.4%
WW		91		108	-15.3%	-11.0%	-4.3%

 

 

	REPORTED SALES vs. PRIOR PERIOD ($MM)
	FIRST QUARTER
					% Change
		2022		2021	Reported	Operational (1)	Currency
NEUROSCIENCE (5)
US		843		771	9.3%	9.3%	-
Intl		898		943	-4.8%	1.5%	-6.3%
WW		1,741		1,715	1.5%	5.0%	-3.5%
CONCERTA / Methylphenidate
US		35		47	-26.5%	-26.5%	-
Intl		122		123	-1.3%	3.5%	-4.8%
WW		157		171	-8.3%	-4.8%	-3.5%
INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA
US		661		589	12.2%	12.2%	-
Intl		387		376	3.0%	9.9%	-6.9%
WW		1,048		965	8.6%	11.3%	-2.7%
RISPERDAL CONSTA
US		63		67	-6.4%	-6.4%	-
Intl		66		89	-26.1%	-19.6%	-6.5%
WW		129		157	-17.6%	-13.9%	-3.7%
OTHER NEUROSCIENCE
US		84		67	25.5%	25.5%	-
Intl		323		355	-8.9%	-2.8%	-6.1%
WW		408		422	-3.5%	1.7%	-5.2%
ONCOLOGY
US		1,582		1,377	14.9%	14.9%	-
Intl		2,369		2,193	8.0%	15.0%	-7.0%
WW		3,950		3,570	10.6%	14.9%	-4.3%
DARZALEX
US		953		691	37.9%	37.9%	-
Intl		903		674	34.0%	42.7%	-8.7%
WW		1,856		1,365	36.0%	40.3%	-4.3%
ERLEADA
US		206		171	20.3%	20.3%	-
Intl		194		90	*	*	*
WW		400		261	53.0%	57.5%	-4.5%
IMBRUVICA
US		370		444	-16.7%	-16.7%	-
Intl		668		680	-1.8%	4.5%	-6.3%
WW		1,038		1,125	-7.7%	-3.9%	-3.8%
ZYTIGA / abiraterone acetate
US		19		50	-62.1%	-62.1%	-
Intl		520		588	-11.6%	-5.7%	-5.9%
WW		539		638	-15.6%	-10.1%	-5.5%
OTHER ONCOLOGY
US		34		21	63.1%	63.1%	-
Intl		84		161	-47.7%	-44.6%	-3.1%
WW		118		182	-35.1%	-32.3%	-2.8%

 

 

	REPORTED SALES vs. PRIOR PERIOD ($MM)
	FIRST QUARTER
					% Change
		2022		2021	Reported	Operational (1)	Currency
PULMONARY HYPERTENSION
US		572		573	-0.2%	-0.2%	-
Intl		279		288	-2.9%	4.0%	-6.9%
WW		852		861	-1.1%	1.2%	-2.3%
OPSUMIT
US		273		272	0.5%	0.5%	-
Intl		170		179	-4.8%	2.0%	-6.8%
WW		443		450	-1.6%	1.1%	-2.7%
UPTRAVI
US		269		259	3.9%	3.9%	-
Intl		56		46	20.9%	28.8%	-7.9%
WW		325		305	6.5%	7.7%	-1.2%
OTHER PULMONARY HYPERTENSION
US		30		42	-29.0%	-29.0%	-
Intl		53		63	-15.2%	-8.4%	-6.8%
WW		83		105	-20.8%	-16.8%	-4.0%
CARDIOVASCULAR / METABOLISM / OTHER (5)
US		672		799	-15.8%	-15.8%	-
Intl		238		245	-3.0%	0.9%	-3.9%
WW		910		1,044	-12.8%	-11.9%	-0.9%
XARELTO
US		508		589	-13.8%	-13.8%	-
Intl		-		-	-	-	-
WW		508		589	-13.8%	-13.8%	-
INVOKANA / INVOKAMET
US		60		87	-30.7%	-30.7%	-
Intl		68		63	7.5%	11.1%	-3.6%
WW		128		150	-14.6%	-13.1%	-1.5%
OTHER
US		104		122	-14.9%	-14.9%	-
Intl		170		182	-6.6%	-2.6%	-4.0%
WW		274		305	-10.0%	-7.5%	-2.5%
TOTAL PHARMACEUTICAL
US		6,632		6,446	2.9%	2.9%	-
Intl		6,237		5,655	10.3%	16.7%	-6.4%
WW		$        12,869		12,101	6.3%	9.3%	-3.0%
See footnotes at end of schedule

 

 

	REPORTED SALES vs. PRIOR PERIOD ($MM)
	FIRST QUARTER
					% Change
MEDTECH SEGMENT (2,3,6)		2022		2021	Reported	Operational (1)	Currency
INTERVENTIONAL SOLUTIONS
US		$             494		434	13.8%	13.8%	-
Intl		597		514	16.2%	20.4%	-4.2%
WW		1,092		949	15.1%	17.4%	-2.3%
ORTHOPAEDICS
US		1,289		1,249	3.2%	3.2%	-
Intl		899		864	4.1%	9.1%	-5.0%
WW		2,188		2,113	3.5%	5.6%	-2.1%
HIPS
US		225		209	7.3%	7.3%	-
Intl		164		146	12.2%	17.0%	-4.8%
WW		389		356	9.3%	11.3%	-2.0%
KNEES
US		201		185	8.6%	8.6%	-
Intl		138		132	4.1%	9.1%	-5.0%
WW		339		317	6.7%	8.8%	-2.1%
TRAUMA
US		475		450	5.5%	5.5%	-
Intl		273		282	-3.3%	2.2%	-5.5%
WW		748		733	2.1%	4.2%	-2.1%
SPINE, SPORTS & OTHER
US		387		404	-4.1%	-4.1%	-
Intl		324		303	7.0%	11.7%	-4.7%
WW		712		707	0.6%	2.7%	-2.1%

 

 

	REPORTED SALES vs. PRIOR PERIOD ($MM)
	FIRST QUARTER
					% Change
		2022		2021	Reported	Operational (1)	Currency
SURGERY
US		921		898	2.5%	2.5%	-
Intl		1,513		1,474	2.7%	6.6%	-3.9%
WW		2,434		2,372	2.6%	5.0%	-2.4%
ADVANCED
US		417		405	3.0%	3.0%	-
Intl		729		713	2.2%	5.4%	-3.2%
WW		1,146		1,118	2.5%	4.5%	-2.0%
GENERAL
US		504		493	2.1%	2.1%	-
Intl		784		761	3.1%	7.7%	-4.6%
WW		1,288		1,254	2.7%	5.5%	-2.8%
VISION
US		521		472	10.4%	10.4%	-
Intl		736		673	9.4%	16.4%	-7.0%
WW		1,257		1,145	9.8%	13.9%	-4.1%
CONTACT LENSES / OTHER
US		400		371	7.7%	7.7%	-
Intl		511		486	5.1%	12.9%	-7.8%
WW		910		857	6.2%	10.6%	-4.4%
SURGICAL
US		121		101	20.2%	20.2%	-
Intl		226		187	20.5%	25.7%	-5.2%
WW		347		288	20.4%	23.8%	-3.4%
TOTAL MEDTECH
US		3,225		3,054	5.6%	5.6%	-
Intl		3,746		3,525	6.3%	11.1%	-4.8%
WW		$          6,971		6,579	5.9%	8.5%	-2.6%
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
(5) Refer to supplemental sales information schedule
(6) Previously referred to as Medical Devices

 

 

Supplemental Sales Information
(Dollars in Millions)
Certain prior year amounts have been reclassified to
conform to current year product disclosures
		2020				2021										2021
			Full Year				Q1		Q2		Q3		Q4				Full Year
	CONSUMER HEALTH SEGMENT (1)
	OTC (2)
	US		2,460				599		675		686		633				2,594
	Intl		2,761				673		752		798		811				3,034
	WW		5,221				1,273		1,426		1,484		1,444				5,627
	PHARMACEUTICAL SEGMENT (1)
	INFECTIOUS DISEASES (2)
	OTHER INFECTIOUS DISEASES
	US		104				21		16		18		11				66
	Intl		292				87		71		82		57				297
	WW		396				108		88		99		68				363
	NEUROSCIENCE (2)
	OTHER NEUROSCIENCE
	US		298				67		91		81		99				338
	Intl		1,312				355		373		298		342				1,368
	WW		1,610				422		464		379		441				1,706
	CARDIOVASCULAR / METABOLISM / OTHER (2,3)
	OTHER
	US		600				122		116		98		110				446
	Intl		794				182		178		173		140				673
	WW		1,394				305		293		271		250				1,119
	Note : Columns and rows within tables may not add due to rounding
	(1) Unaudited
	(2) Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes in their respective regions
	(3) Other is inclusive of PROCRIT / EPREX, which was previously disclosed separately

 

 

 

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SOURCE Johnson & Johnson

FAQ

What were Johnson & Johnson's Q1 2022 sales figures?

Johnson & Johnson reported sales of $23.4 billion in Q1 2022, a 5.0% increase from the previous year.

How did Johnson & Johnson's earnings per share change in Q1 2022?

In Q1 2022, Johnson & Johnson's diluted EPS decreased by 16.8% to $1.93, while adjusted EPS increased by 3.1% to $2.67.

What factors influenced Johnson & Johnson's decision to suspend COVID-19 Vaccine sales guidance?

The suspension was due to a global supply surplus and demand uncertainty, but it will not impact adjusted operational earnings per share guidance.

Which sector contributed most to Johnson & Johnson's sales growth in Q1 2022?

The Pharmaceutical sector significantly contributed to sales growth, particularly through products like DARZALEX and STELARA.

What percentage growth did Johnson & Johnson's MedTech segment achieve in Q1 2022?

Johnson & Johnson's MedTech segment achieved an 8.6% increase in adjusted operational sales in Q1 2022.