Johnson & Johnson Reports Q3 2021 Results

- Total sales growth of 10.7% to $23.3 Billion with operational growth of 9.9%* and adjusted operational growth of 10.6%*
Published: Oct. 5, 2021 at 6:30 AM EDT|Updated: Oct. 19, 2021 at 6:25 AM EDT

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)

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)

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










(PRNewsfoto/Johnson & Johnson)
(PRNewsfoto/Johnson & Johnson)

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