Johnson & Johnson Reports Q2 2021 Results

Rhea-AI Summary

Johnson & Johnson (NYSE: JNJ) reported impressive Q2 results with sales of $23.3 billion, up 27.1% year-over-year. Net earnings surged 73.1% to $6.3 billion, resulting in a diluted EPS of $2.35, a 72.8% increase. Key growth drivers included a 62.7% rise in Medical Devices sales, bolstered by market recovery from COVID-19, and a 17.2% increase in Pharmaceuticals, highlighted by strong performances from STELARA and DARZALEX. The Consumer Health segment also contributed with a 13.3% growth, driven by skin health products. JNJ emphasized ongoing innovations and external regulatory approvals.

Positive

• Reported sales increased by 27.1% to $23.3 billion.
• Net earnings rose 73.1% to $6.3 billion.
• Diluted EPS up 72.8% to $2.35.
• Medical Devices sales increased 62.7%.
• Pharmaceuticals sales grew 17.2%, driven by key drugs.
• Consumer Health sales up 13.3%, with skin health products leading growth.

Negative

• Biosimilar and generic competition affected sales of REMICADE.

NEW BRUNSWICK, N.J., July 21, 2021 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced results for second-quarter. "Our second-quarter results showcase Johnson & Johnson's diversified portfolio, driven by strong sales and earnings growth across our Medical Device, Consumer Health and Pharmaceutical businesses," said Alex Gorsky, Chairman and Chief Executive Officer. "I'm so proud of our 136,000 colleagues who remain focused on delivering our medicines and products to patients and consumers around the world, in addition to advancing our pipeline with new product launches and regulatory submissions. These accomplishments exemplify our commitment to advancing transformational innovations that improve the health of people and communities everywhere while continuing to deliver long-term value to all of our stakeholders."

OVERALL FINANCIAL RESULTS
Q2
($ in Millions, except EPS)	2021	2020	%  Change
Reported Sales	$       23,312	$       18,336	27.1%
Net Earnings	6,278	3,626	73.1
EPS (diluted)	$           2.35	$           1.36	72.8%
Q2
Non-GAAP*($ in Millions, except EPS)	2021	2020	%  Change
Operational Sales1,2			23.0%
Adjusted Operational Sales1,3			23.8
Adjusted Net Earnings1,4	6,625	4,446	49.0
Adjusted EPS (diluted)1,4	$           2.48	$           1.67	48.5%

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

 

REGIONAL SALES RESULTS
Q2			%  Change
($ in Millions)	2021	2020	Reported	Operational1,2	Currency	Adjusted Operational1,3
U.S.	$      11,919	$        9,539	24.9%	24.9	-	25.1
International	11,393	8,797	29.5	20.9	8.6	22.4
Worldwide	$      23,312	$      18,336	27.1%	23.0	4.1	23.8

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
Q2			%  Change
($ in Millions)	2021	2020	Reported	Operational1,2	Currency	Adjusted Operational1,3
Consumer Health	$        3,735	$        3,296	13.3%	9.2	4.1	10.0
Pharmaceutical	12,599	10,752	17.2	13.6	3.6	14.1
Medical Devices	6,978	4,288	62.7	57.2	5.5	58.7
Worldwide	$      23,312	$      18,336	27.1%	23.0	4.1	23.8

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

Second Quarter 2021 SEGMENT COMMENTARY: 

Consumer Health
Consumer Health worldwide operational sales, excluding the net impact of acquisitions and divestitures, increased 10.0%* inclusive of the market recovery from COVID-19 impacts, primarily in skin health/beauty.  Sales growth was driven by skin health/beauty products including NEUTROGENA, AVEENO, and OGX; over-the-counter products including ZYRTEC in upper respiratory products, international analgesics, and digestive health products; and BAND-AID^® Brand Adhesive Bandages in wound care products. 

Pharmaceutical
Pharmaceutical worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 14.1%* driven by STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, DARZALEX (daratumumab), for the treatment of multiple myeloma, 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, IMBRUVICA (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer, and INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults. This growth was partially offset by biosimilar and generic competition, with declines primarily in REMICADE (infliximab), a biologic approved for the treatment of a number of immune-mediated inflammatory diseases.

Medical Devices
Medical Devices worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 58.7%*, primarily driven by the benefit of market recovery from COVID-19 impacts and the associated deferral of medical procedures in the prior year across all of our businesses including Surgery, Orthopaedics, Vision and Interventional Solutions.

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	TECNIS SYNERGY and TECNIS SYNERGY TORIC II IOLS a Next Generation Treatment for Cataract Patients Received Regulatory Approval and Launched in the U.S. and Canada	(press release)
		(press release)
	RYBREVANT (amivantamab-vmjw) Receives U.S. FDA Approval as the First Targeted Treatment for Patients with Non-Small Cell Lung Cancer with EGFR Exon 20 Insertion Mutations	(press release)
	PONVORY (ponesimod) receives European Commission approval for the Treatment of Adults with Relapsing Forms of Multiple Sclerosis with Active Disease Defined by Clinical or Imaging Features	(press release)
	DARZALEX (daratumumab) Subcutaneous (SC) Formulation Becomes the First Approved Treatment for Newly Diagnosed Systemic Light Chain Amyloidosis in Europe and Gains an Additional Approval in Pre-Treated Multiple Myeloma	(press release)
	DARZALEX FASPRO (daratumumab and hyaluronidase-fihj) Receives U.S. FDA Approval for Combination with Pomalidomide and Dexamethasone for Patients with Multiple Myeloma After First or Subsequent Relapse1	(press release)
Regulatory Submissions	Janssen granted Breakthrough Therapy Designation from the U.S. FDA for Teclistamab for the Treatment of Relapsed or Refractory Multiple Myeloma	(press release)
	Janssen Submits Marketing Authorisation Application to the European Medicines Agency for BCMA CAR-T Therapy Ciltacabtagene Autoleucel (cilta-cel) for the Treatment of Relapsed and/or Refractory Multiple Myeloma	(press release)
	Janssen Submits New Drug Application to U.S. FDA for XARELTO (rivaroxaban) to Help Prevent and Treat Blood Clots in Pediatric Patients	(press release)
Other	Johnson & Johnson Joins World Health Organization in Efforts to Prevent Spread of Ebola in West Africa	(press release)
	Janssen Discontinues Collaboration and License Agreement with argenx for Cusatuzumab	(press release)
	ETHICON expands Advanced Bipolar Energy Portfolio with Launch of ENSEAL X1 Curved Jaw Tissue Sealer	(press release)
	Johnson & Johnson Announces Positive New Data for the Single-Shot COVID-19 Vaccine on Activity Against Delta Variant and Long-lasting Durability of Response	(press release)
	Johnson & Johnson Consumer Inc. Issues Voluntary Recall of Specific NEUTROGENA and AVEENO Aerosol Sunscreen Products Due to the Presence of Benzene1	(press release)
1Subsequent 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)	April 2021	July 2021 (Base Business)	July 2021 (incl. COVID Vx)
Adjusted Operational Sales1,2 Change vs. Prior Year	8.7% - 9.9%	9.5% - 10.5%	12.5% - 13.5%
Operational Sales2 Change vs. Prior Year	$89.3B - $90.3B 8.2% – 9.4%	$90.0B - $90.8B 9.0% – 10.0%	$92.5B - $93.3B 12.0% – 13.0%
Estimated Reported Sales3 Change vs. Prior Year	$90.6B - $91.6B 9.7% – 10.9%	$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	$9.30 - $9.45 15.8% - 17.7%		$9.50 - $9.60 18.4% - 19.6%
Adjusted EPS (Diluted)3,4 Change vs. Prior Year	$9.42 - $9.57 17.3% - 19.2%		$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: April 2021 = $1.19 and July 2021 = $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)	SECOND QUARTER										SIX 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.	$   1,751		1,557		12.4	%	12.4		-		$   3,362		3,297		2.0	%	2.0		-
International	1,984		1,739		14.1		6.3		7.8		3,916		3,624		8.1		3.3		4.8
	3,735		3,296		13.3		9.2		4.1		7,278		6,921		5.2		2.7		2.5
Pharmaceutical
U.S.	6,869		6,120		12.2		12.2		-		13,315		12,181		9.3		9.3		-
International	5,730		4,632		23.7		15.4		8.3		11,483		9,705		18.3		11.4		6.9
	12,599		10,752		17.2		13.6		3.6		24,798		21,886		13.3		10.3		3.0
Medical Devices
U.S.	3,299		1,862		77.2		77.2		-		6,353		4,760		33.5		33.5		-
International	3,679		2,426		51.6		41.9		9.7		7,204		5,460		31.9		24.5		7.4
	6,978		4,288		62.7		57.2		5.5		13,557		10,220		32.7		28.7		4.0
U.S.	11,919		9,539		24.9		24.9		-		23,030		20,238		13.8		13.8		-
International	11,393		8,797		29.5		20.9		8.6		22,603		18,789		20.3		13.7		6.6
Worldwide	$ 23,312		18,336		27.1	%	23.0		4.1		$ 45,633		39,027		16.9	%	13.7		3.2
Note:Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

 

Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)	SECOND QUARTER										SIX MONTHS
					Percent Change										Percent Change
	2021		2020		Total		Operations		Currency		2021		2020		Total		Operations		Currency
Sales to customers by
geographic area
U.S.	$ 11,919		9,539		24.9	%	24.9		-		$ 23,030		20,238		13.8	%	13.8		-
Europe	5,668		4,063		39.5		28.6		10.9		11,082		8,890		24.7		15.6		9.1
Western Hemisphere excluding U.S.	1,367		1,133		20.6		12.7		7.9		2,791		2,635		5.9		5.4		0.5
Asia-Pacific, Africa	4,358		3,601		21.0		14.8		6.2		8,730		7,264		20.2		14.2		6.0
International	11,393		8,797		29.5		20.9		8.6		22,603		18,789		20.3		13.7		6.6
Worldwide	$ 23,312		18,336		27.1	%	23.0		4.1		$ 45,633		39,027		16.9	%	13.7		3.2
Note:Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

 

Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures)	SECOND QUARTER
	2021				2020				Percent
			Percent				Percent		Increase
	Amount		to Sales		Amount		to Sales		(Decrease)
Sales to customers	$ 23,312		100.0		$ 18,336		100.0		27.1
Cost of products sold	7,587		32.5		6,579		35.9		15.3
Gross Profit	15,725		67.5		11,757		64.1		33.8
Selling, marketing and administrative expenses	6,073		26.1		4,993		27.2		21.6
Research and development expense	3,394		14.6		2,707		14.8		25.4
In-process research and development	0		0.0		6		0.0
Interest (income) expense, net	28		0.1		26		0.2
Other (income) expense, net	(488)		(2.1)		24		0.1
Restructuring	56		0.2		61		0.3
Earnings before provision for taxes on income	6,662		28.6		3,940		21.5		69.1
Provision for taxes on income	384		1.7		314		1.7		22.3
Net earnings	$   6,278		26.9		$   3,626		19.8		73.1
Net earnings per share (Diluted)	$     2.35				$     1.36				72.8
Average shares outstanding (Diluted)	2,671.6				2,665.5
Effective tax rate	5.8	%			8.0	%
Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income	$   7,776		33.4		$   5,337		29.1		45.7
Net earnings	$   6,625		28.4		$   4,446		24.2		49.0
Net earnings per share (Diluted)	$     2.48				$     1.67				48.5
Effective tax rate	14.8	%			16.7	%
(1)See Reconciliation of Non-GAAP Financial Measures.

 

Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures)	SIX MONTHS
	2021				2020				Percent
			Percent				Percent		Increase
	Amount		to Sales		Amount		to Sales		(Decrease)
Sales to customers	$ 45,633		100.0		$ 39,027		100.0		16.9
Cost of products sold	14,650		32.1		13,641		35.0		7.4
Gross Profit	30,983		67.9		25,386		65.0		22.0
Selling, marketing and administrative expenses	11,505		25.2		10,196		26.1		12.8
Research and development expense	6,572		14.4		5,287		13.5		24.3
In-process research and development	0		0.0		6		0.0
Interest (income) expense, net	76		0.2		(16)		0.0
Other (income) expense, net	(1,370)		(3.0)		(655)		(1.7)
Restructuring	109		0.2		119		0.3
Earnings before provision for taxes on income	14,091		30.9		10,449		26.8		34.9
Provision for taxes on income	1,616		3.6		1,027		2.7		57.4
Net earnings	$ 12,475		27.3		$   9,422		24.1		32.4
Net earnings per share (Diluted)	$     4.67				$     3.53				32.3
Average shares outstanding (Diluted)	2,674.0				2,671.0
Effective tax rate	11.5	%			9.8	%
Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income	$ 16,067		35.2		$ 12,581		32.2		27.7
Net earnings	$ 13,549		29.7		$ 10,600		27.2		27.8
Net earnings per share (Diluted)	$     5.07				$     3.97				27.7
Effective tax rate	15.7	%			15.7	%
(1)See Reconciliation of Non-GAAP Financial Measures.

 

Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
		Second Quarter				Six Months Ended
	(Dollars in Millions Except Per Share Data)	2021		2020		2021		2020
	Net Earnings, after tax- as reported	$6,278		$3,626		$12,475		$9,422
	Pre-tax Adjustments
	Intangible Asset Amortization expense	1,202		1,127		2,417		2,245
	Litigation related	(23)		613		(23)		733
	IPR&D	-		6		-		6
	Restructuring related	108		115		212		233
	Acquisition, integration and divestiture related ¹	14		29		(524)		(933)
	Unrealized (gains)/losses on securities	(243)		(533)		(208)		(206)
	Medical Device Regulation	56		37		102		51
	Other	-		3		-		3
	Tax Adjustments
	Tax impact on special item adjustments 2	(135)		(253)		(248)		(520)
	Tax legislation and other tax related	(632)		(324)		(654)		(434)
	Adjusted Net Earnings, after tax	$6,625		$4,446		$13,549		$10,600
	Average shares outstanding (Diluted)	2,671.6		2,665.5		2,674.0		2,671.0
	Adjusted net earnings per share (Diluted)	$2.48		$1.67		$5.07		$3.97
	Operational adjusted net earnings per share (Diluted)	$2.42				$4.91
	Notes:
1	Acquisition, integration and divestiture related for the six months of 2021 primarily includes the gain on the divestiture of two Pharmaceutical brands outside of the U.S.  The six months of 2020 primarily includes a $983M Contingent Consideration reversal 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
SECOND QUARTER 2021 ACTUAL vs. 2020 ACTUAL
Segments
		Consumer Health		Pharmaceutical		Medical Devices		Total
WW As Reported		13.3%		17.2%		62.7%		27.1%
U.S.		12.4%		12.2%		77.2%		24.9%
International		14.1%		23.7%		51.6%		29.5%
WW Currency		4.1		3.6		5.5		4.1
U.S.		-		-		-		-
International		7.8		8.3		9.7		8.6
WW Operational		9.2%		13.6%		57.2%		23.0%
U.S.		12.4%		12.2%		77.2%		24.9%
International		6.3%		15.4%		41.9%		20.9%
General Surgery
Advanced Sterilization Products						1.2		0.2
U.S.						0.0		0.0
International						1.9		0.4
All Other Acquisitions and Divestitures		0.8		0.6		0.3		0.6
U.S.		0.6		(0.1)		0.7		0.1
International		1.1		1.5		0.0		1.0
WW Adjusted Operational		10.0%		14.1%		58.7%		23.8%
U.S.		13.0%		12.1%		77.9%		25.1%
International		7.4%		16.8%		43.8%		22.4%
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
SIX MONTHS 2021 ACTUAL vs. 2020 ACTUAL
Segments
		Consumer Health		Pharmaceutical		Medical Devices		Total
WW As Reported		5.2%		13.3%		32.7%		16.9%
U.S.		2.0%		9.3%		33.5%		13.8%
International		8.1%		18.3%		31.9%		20.3%
WW Currency		2.5		3.0		4.0		3.2
U.S.		-		-		-		-
International		4.8		6.9		7.4		6.6
WW Operational		2.7%		10.3%		28.7%		13.7%
U.S.		2.0%		9.3%		33.5%		13.8%
International		3.3%		11.4%		24.5%		13.7%
General Surgery
Advanced Sterilization Products						0.8		0.2
U.S.						0.0		0.0
International						1.5		0.4
All Other Acquisitions and Divestitures		0.6		0.5		0.2		0.4
U.S.		0.5		(0.1)		0.5		0.1
International		0.7		1.2		0.0		0.8
WW Adjusted Operational		3.3%		10.7%		29.7%		14.4%
U.S.		2.5%		9.2%		33.9%		13.9%
International		4.0%		12.6%		26.0%		14.8%
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)
	SECOND QUARTER											SIX MONTHS
					% Change										% Change
		2021		2020	Reported	Operational (1)	Currency					2021		2020	Reported	Operational (1)	Currency
CONSUMER HEALTH SEGMENT (2)
OTC
US		$             675		627	7.7%	7.7%	-					$          1,274		1,316	-3.2%	-3.2%	-
Intl		633		522	21.2%	10.4%	10.8%					1,208		1,181	2.3%	-4.7%	7.0%
WW		1,307		1,149	13.8%	8.9%	4.9%					2,482		2,497	-0.6%	-3.9%	3.3%
SKIN HEALTH / BEAUTY
US		659		536	23.0%	23.0%	-					1,293		1,195	8.2%	8.2%	-
Intl		511		471	8.4%	1.4%	7.0%					1,040		929	12.0%	6.8%	5.2%
WW		1,170		1,007	16.2%	12.9%	3.3%					2,333		2,124	9.8%	7.6%	2.2%
ORAL CARE
US		165		170	-3.1%	-3.1%	-					328		346	-5.2%	-5.2%	-
Intl		260		227	14.6%	6.7%	7.9%					514		446	15.3%	10.2%	5.1%
WW		426		397	7.0%	2.5%	4.5%					843		792	6.3%	3.5%	2.8%
BABY CARE
US		97		96	0.8%	0.8%	-					193		188	2.4%	2.4%	-
Intl		290		260	11.5%	6.6%	4.9%					583		529	10.2%	9.0%	1.2%
WW		387		356	8.6%	5.0%	3.6%					776		717	8.1%	7.3%	0.8%
WOMEN'S HEALTH
US		3		3	-3.1%	-3.1%	-					6		7	-16.0%	-16.0%	-
Intl		227		199	14.2%	9.2%	5.0%					446		427	4.5%	3.1%	1.4%
WW		230		202	13.9%	9.0%	4.9%					452		434	4.2%	2.8%	1.4%
WOUND CARE / OTHER
US		153		126	20.9%	20.9%	-					268		245	9.3%	9.3%	-
Intl		64		59	7.3%	-2.8%	10.1%					125		111	12.1%	5.2%	6.9%
WW		216		185	16.6%	13.4%	3.2%					393		356	10.2%	8.0%	2.2%
TOTAL CONSUMER HEALTH
US		1,751		1,557	12.4%	12.4%	-					3,362		3,297	2.0%	2.0%	-
Intl		1,984		1,739	14.1%	6.3%	7.8%					3,916		3,624	8.1%	3.3%	4.8%
WW		$          3,735		3,296	13.3%	9.2%	4.1%					$          7,278		6,921	5.2%	2.7%	2.5%
See footnotes at end of schedule

 

	REPORTED SALES vs. PRIOR PERIOD ($MM)											REPORTED SALES vs. PRIOR PERIOD ($MM)
	SECOND QUARTER										SIX MONTHS
					% Change										% Change
PHARMACEUTICAL SEGMENT (2,3)		2021		2020	Reported	Operational (1)	Currency					2021		2020	Reported	Operational (1)	Currency
IMMUNOLOGY
US		$          2,748		2,362	16.4%	16.4%	-					$          5,161		4,772	8.2%	8.2%	-
Intl		1,483		1,161	27.7%	18.2%	9.5%					2,984		2,389	24.9%	17.0%	7.9%
WW		4,231		3,523	20.1%	17.0%	3.1%					8,145		7,161	13.7%	11.1%	2.6%
REMICADE
US		540		593	-9.1%	-9.1%	-					1,029		1,218	-15.6%	-15.6%	-
US Exports (4)		93		133	-30.0%	-30.0%	-					150		243	-38.2%	-38.2%	-
Intl		255		208	22.4%	11.1%	11.3%					487		464	4.9%	-1.7%	6.6%
WW		888		935	-5.1%	-7.6%	2.5%					1,665		1,925	-13.5%	-15.1%	1.6%
SIMPONI / SIMPONI ARIA
US		290		256	12.8%	12.8%	-					545		528	3.2%	3.2%	-
Intl		294		289	1.7%	-3.8%	5.5%					601		547	9.8%	4.5%	5.3%
WW		584		546	6.9%	4.0%	2.9%					1,146		1,075	6.6%	3.8%	2.8%
STELARA
US		1,496		1,138	31.4%	31.4%	-					2,827		2,355	20.0%	20.0%	-
Intl		778		558	39.2%	28.6%	10.6%					1,595		1,161	37.3%	28.1%	9.2%
WW		2,274		1,697	34.0%	30.5%	3.5%					4,422		3,516	25.8%	22.7%	3.1%
TREMFYA
US		325		241	35.0%	35.0%	-					599		428	40.0%	40.0%	-
Intl		155		101	52.3%	41.1%	11.2%					298		210	41.8%	31.8%	10.0%
WW		479		342	40.2%	36.8%	3.4%					897		638	40.6%	37.3%	3.3%
OTHER IMMUNOLOGY
US		5		-	*	*	-					12		-	*	*	-
Intl		1		3	-61.3%	-67.9%	6.6%					3		6	-51.2%	-53.9%	2.7%
WW		7		3	*	*	*					15		6	*	*	*
INFECTIOUS DISEASES
US		444		416	6.8%	6.8%	-					956		852	12.2%	12.2%	-
Intl		585		463	26.3%	18.2%	8.1%					1,079		946	14.1%	7.8%	6.3%
WW		1,028		878	17.1%	12.8%	4.3%					2,035		1,798	13.2%	9.9%	3.3%
COVID-19 VACCINE
US		51		-	*	*	-					151		-	*	*	-
Intl		113		-	*	*	-					113		-	*	*	-
WW		164		-	*	*	-					264		-	*	*	-
EDURANT / rilpivirine
US		9		10	-9.3%	-9.3%	-					19		22	-10.9%	-10.9%	-
Intl		253		246	2.8%	-4.0%	6.8%					486		458	6.0%	-1.7%	7.7%
WW		262		256	2.3%	-4.2%	6.5%					505		480	5.2%	-2.1%	7.3%
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US		368		379	-3.2%	-3.2%	-					748		775	-3.5%	-3.5%	-
Intl		137		130	5.5%	-5.9%	11.4%					303		314	-3.5%	-8.5%	5.0%
WW		505		510	-1.0%	-3.9%	2.9%					1,051		1,089	-3.5%	-5.0%	1.5%
OTHER INFECTIOUS DISEASES
US		16		25	-36.2%	-36.2%	-					37		54	-31.3%	-31.3%	-
Intl		81		87	-6.2%	-13.4%	7.2%					177		174	1.8%	-3.0%	4.8%
WW		98		113	-13.0%	-18.5%	5.5%					215		229	-6.1%	-9.7%	3.6%

 

		REPORTED SALES vs. PRIOR PERIOD ($MM)										REPORTED SALES vs. PRIOR PERIOD ($MM)
	SECOND QUARTER										SIX MONTHS
					% Change										% Change
		2021		2020	Reported	Operational (1)	Currency					2021		2020	Reported	Operational (1)	Currency
NEUROSCIENCE
US		842		778	8.0%	8.0%	-					1,613		1,526	5.6%	5.6%	-
Intl		967		809	19.6%	13.1%	6.5%					1,916		1,719	11.5%	6.3%	5.2%
WW		1,808		1,587	13.9%	10.6%	3.3%					3,529		3,245	8.7%	6.0%	2.7%
CONCERTA / Methylphenidate
US		35		55	-36.0%	-36.0%	-					82		107	-23.1%	-23.1%	-
Intl		127		94	33.7%	25.6%	8.1%					250		212	17.5%	11.1%	6.4%
WW		161		149	8.1%	3.0%	5.1%					332		320	3.9%	-0.3%	4.2%
INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA
US		645		576	11.9%	11.9%	-					1,234		1,120	10.2%	10.2%	-
Intl		380		303	25.1%	15.9%	9.2%					756		642	17.7%	9.9%	7.8%
WW		1,024		879	16.4%	13.3%	3.1%					1,989		1,762	12.9%	10.1%	2.8%
RISPERDAL CONSTA
US		72		74	-3.0%	-3.0%	-					139		150	-7.5%	-7.5%	-
Intl		84		79	6.4%	0.2%	6.2%					173		173	0.4%	-4.6%	5.0%
WW		155		153	1.9%	-1.3%	3.2%					312		323	-3.3%	-6.0%	2.7%
OTHER NEUROSCIENCE
US		91		75	20.9%	20.9%	-					158		150	5.6%	5.6%	-
Intl		377		331	13.8%	10.0%	3.8%					738		691	6.7%	4.3%	2.4%
WW		468		406	15.1%	12.0%	3.1%					896		841	6.5%	4.5%	2.0%
ONCOLOGY
US		1,462		1,181	23.7%	23.7%	-					2,839		2,356	20.5%	20.5%	-
Intl		2,073		1,609	28.8%	19.8%	9.0%					4,266		3,448	23.7%	16.2%	7.5%
WW		3,535		2,791	26.7%	21.5%	5.2%					7,105		5,804	22.4%	17.9%	4.5%
DARZALEX
US		770		492	56.7%	56.7%	-					1,461		955	53.1%	53.1%	-
Intl		663		409	62.1%	50.3%	11.8%					1,337		883	51.4%	42.3%	9.1%
WW		1,433		901	59.2%	53.8%	5.4%					2,798		1,838	52.2%	47.9%	4.3%
ERLEADA
US		193		136	41.5%	41.5%	-					364		255	42.7%	42.7%	-
Intl		109		33	*	*	*					199		57	*	*	*
WW		302		170	77.6%	73.7%	3.9%					563		313	80.0%	76.4%	3.6%
IMBRUVICA
US		454		447	1.7%	1.7%	-					898		879	2.2%	2.2%	-
Intl		662		502	31.9%	22.1%	9.8%					1,342		1,101	21.9%	14.2%	7.7%
WW		1,116		949	17.7%	12.5%	5.2%					2,241		1,980	13.2%	8.9%	4.3%
ZYTIGA / abiraterone acetate
US		21		87	-75.3%	-75.3%	-					71		226	-68.5%	-68.5%	-
Intl		542		480	12.8%	5.4%	7.4%					1,130		1,032	9.5%	2.5%	7.0%
WW		563		568	-0.8%	-7.1%	6.3%					1,201		1,258	-4.5%	-10.3%	5.8%
OTHER ONCOLOGY
US		23		20	18.8%	18.8%	-					44		42	6.3%	6.3%	-
Intl		97		185	-47.2%	-49.6%	2.4%					258		375	-31.0%	-34.3%	3.3%
WW		120		204	-40.9%	-43.0%	2.1%					302		416	-27.3%	-30.2%	2.9%

 

		REPORTED SALES vs. PRIOR PERIOD ($MM)										REPORTED SALES vs. PRIOR PERIOD ($MM)
	SECOND QUARTER										SIX MONTHS
					% Change										% Change
		2021		2020	Reported	Operational (1)	Currency					2021		2020	Reported	Operational (1)	Currency
PULMONARY HYPERTENSION
US		595		545	9.0%	9.0%	-					1,168		1,031	13.2%	13.2%	-
Intl		275		243	13.5%	7.9%	5.6%					563		503	12.1%	6.7%	5.4%
WW		870		789	10.4%	8.7%	1.7%					1,731		1,534	12.9%	11.1%	1.8%
OPSUMIT
US		290		256	13.6%	13.6%	-					562		485	15.9%	15.9%	-
Intl		172		150	14.9%	9.0%	5.9%					351		310	13.1%	7.6%	5.5%
WW		463		406	14.1%	11.9%	2.2%					913		795	14.8%	12.7%	2.1%
UPTRAVI
US		268		254	6.0%	6.0%	-					527		466	13.3%	13.3%	-
Intl		45		28	54.9%	42.9%	12.0%					91		66	36.8%	27.4%	9.4%
WW		313		282	11.0%	9.8%	1.2%					618		532	16.2%	15.0%	1.2%
OTHER PULMONARY HYPERTENSION
US		36		37	-2.4%	-2.4%	-					78		81	-3.0%	-3.0%	-
Intl		59		64	-8.2%	-10.3%	2.1%					122		126	-3.5%	-6.3%	2.8%
WW		95		101	-6.1%	-7.5%	1.4%					200		207	-3.3%	-5.0%	1.7%
CARDIOVASCULAR / METABOLISM / OTHER
US		780		837	-6.9%	-6.9%	-					1,579		1,643	-3.9%	-3.9%	-
Intl		346		347	-0.3%	-8.4%	8.1%					674		701	-3.8%	-9.9%	6.1%
WW		1,126		1,184	-5.0%	-7.3%	2.3%					2,253		2,344	-3.9%	-5.7%	1.8%
XARELTO
US		569		559	1.8%	1.8%	-					1,158		1,086	6.6%	6.6%	-
Intl		-		-	-	-	-					-		-	-	-	-
WW		569		559	1.8%	1.8%	-					1,158		1,086	6.6%	6.6%	-
INVOKANA / INVOKAMET
US		96		132	-27.0%	-27.0%	-					183		249	-26.6%	-26.6%	-
Intl		64		47	33.8%	22.1%	11.7%					127		105	20.3%	12.2%	8.1%
WW		160		179	-10.9%	-14.0%	3.1%					310		354	-12.6%	-15.0%	2.4%
PROCRIT / EPREX
US		59		70	-16.3%	-16.3%	-					121		146	-17.3%	-17.3%	-
Intl		69		66	3.7%	-4.5%	8.2%					133		145	-8.2%	-14.1%	5.9%
WW		127		136	-6.6%	-10.6%	4.0%					254		291	-12.8%	-15.7%	2.9%
OTHER
US		57		78	-26.7%	-26.7%	-					117		163	-27.8%	-27.8%	-
Intl		214		234	-8.4%	-15.7%	7.3%					415		451	-8.1%	-13.7%	5.6%
WW		271		312	-13.0%	-18.4%	5.4%					532		614	-13.3%	-17.4%	4.1%
TOTAL PHARMACEUTICAL
US		6,869		6,120	12.2%	12.2%	-					13,315		12,181	9.3%	9.3%	-
Intl		5,730		4,632	23.7%	15.4%	8.3%					11,483		9,705	18.3%	11.4%	6.9%
WW		$        12,599		10,752	17.2%	13.6%	3.6%					$        24,798		21,886	13.3%	10.3%	3.0%
See footnotes at end of schedule

 

	REPORTED SALES vs. PRIOR PERIOD ($MM)											REPORTED SALES vs. PRIOR PERIOD ($MM)
	SECOND QUARTER										SIX MONTHS
					% Change										% Change
MEDICAL DEVICES SEGMENT (2)		2021		2020	Reported	Operational (1)	Currency					2021		2020	Reported	Operational (1)	Currency
INTERVENTIONAL SOLUTIONS
US		$             475		255	86.5%	86.5%	-					909		620	46.7%	46.7%	-
Intl		572		335	70.5%	59.8%	10.7%					1,086		697	55.7%	46.4%	9.3%
WW		1,046		590	77.4%	71.3%	6.1%					1,995		1,317	51.5%	46.5%	5.0%
ORTHOPAEDICS
US		1,323		869	52.3%	52.3%	-					2,572		2,119	21.4%	21.4%	-
Intl		904		583	55.1%	43.2%	11.9%					1,768		1,371	29.0%	20.2%	8.8%
WW		2,227		1,451	53.4%	48.6%	4.8%					4,340		3,489	24.4%	20.9%	3.5%
HIPS
US		234		137	70.5%	70.5%	-					444		343	29.6%	29.6%	-
Intl		159		88	78.6%	64.3%	14.3%					305		220	38.3%	28.6%	9.7%
WW		392		226	73.7%	68.1%	5.6%					749		563	33.0%	29.2%	3.8%
KNEES
US		210		108	94.3%	94.3%	-					395		322	22.7%	22.7%	-
Intl		140		66	*	95.1%	16.8%					272		196	39.2%	29.5%	9.7%
WW		350		174	*	94.6%	6.4%					667		517	28.9%	25.2%	3.7%
TRAUMA
US		447		354	26.0%	26.0%	-					897		761	17.8%	17.8%	-
Intl		263		198	32.7%	22.7%	10.0%					545		445	22.5%	14.4%	8.1%
WW		710		553	28.4%	24.8%	3.6%					1,443		1,207	19.6%	16.5%	3.1%
SPINE, SPORTS & OTHER
US		433		270	60.6%	60.6%	-					836		693	20.7%	20.7%	-
Intl		343		230	49.0%	37.9%	11.1%					646		510	26.7%	18.0%	8.7%
WW		776		499	55.3%	50.2%	5.1%					1,482		1,202	23.2%	19.6%	3.6%

 

	REPORTED SALES vs. PRIOR PERIOD ($MM)										REPORTED SALES vs. PRIOR PERIOD ($MM)
	SECOND QUARTER										SIX MONTHS
					% Change										% Change
		2021		2020	Reported	Operational (1)	Currency					2021		2020	Reported	Operational (1)	Currency
SURGERY
US		1,035		490	*	*	-					1,933		1,334	44.9%	44.9%	-
Intl		1,487		1,060	40.2%	30.6%	9.6%					2,961		2,317	27.8%	20.4%	7.4%
WW		2,522		1,551	62.6%	56.0%	6.6%					4,894		3,651	34.0%	29.3%	4.7%
ADVANCED
US		459		277	65.4%	65.4%	-					864		658	31.3%	31.3%	-
Intl		708		498	42.2%	32.5%	9.7%					1,421		1,065	33.4%	25.6%	7.8%
WW		1,168		775	50.5%	44.3%	6.2%					2,286		1,723	32.6%	27.8%	4.8%
GENERAL
US		576		213	*	*	-					1,069		676	58.1%	58.1%	-
Intl		779		562	38.5%	28.9%	9.6%					1,540		1,252	23.0%	15.9%	7.1%
WW		1,354		775	74.7%	67.8%	6.9%					2,608		1,928	35.3%	30.7%	4.6%
VISION
US		467		248	88.3%	88.3%	-					939		687	36.6%	36.6%	-
Intl		716		447	60.0%	53.7%	6.3%					1,389		1,075	29.2%	24.6%	4.6%
WW		1,183		695	70.1%	66.0%	4.1%					2,328		1,762	32.1%	29.3%	2.8%
CONTACT LENSES / OTHER
US		352		203	73.3%	73.3%	-					723		549	31.6%	31.6%	-
Intl		517		352	47.0%	41.9%	5.1%					1,003		819	22.5%	18.5%	4.0%
WW		868		554	56.7%	53.4%	3.3%					1,725		1,368	26.1%	23.7%	2.4%
SURGICAL
US		115		45	*	*	-					216		138	56.3%	56.3%	-
Intl		199		96	*	97.1%	10.6%					386		256	50.9%	44.4%	6.5%
WW		314		141	*	*	*					602		394	52.8%	48.6%	4.2%
TOTAL MEDICAL DEVICES
US		3,299		1,862	77.2%	77.2%	-					6,353		4,760	33.5%	33.5%	-
Intl		3,679		2,426	51.6%	41.9%	9.7%					7,204		5,460	31.9%	24.5%	7.4%
WW		$          6,978		4,288	62.7%	57.2%	5.5%					$        13,557		10,220	32.7%	28.7%	4.0%
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