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Johnson & Johnson Reports 2013 Second-Quarter Results: 106.6 KB

Johnson & Johnson Reports 2013 Second-Quarter Results:

Jul 16, 2013

NEW BRUNSWICK, N.J., July 16, 2013 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced sales of $17.9 billion for the second quarter of 2013, an increase of 8.5% as compared to the second quarter of 2012. Operational results increased 10.0% and the negative impact of currency was 1.5%. Domestic sales increased 8.0%. International sales increased 9.0%, reflecting operational growth of 11.8% and a negative currency impact of 2.8%. Sales included the impact of the acquisition of Synthes, Inc., net of the divestiture of the DePuy trauma business. Excluding this impact, worldwide operational sales growth was 5.6%.

Net earnings and diluted earnings per share for the second quarter of 2013 were $3.8 billion and $1.33, respectively. The second quarter results included the gain on the sale of the equity interest owned in Elan Corporation, plc, as previously disclosed. Second quarter 2013 net earnings included after-tax special items of approximately $0.5 billion, related to litigation expenses, integration and transaction costs associated with the acquisition of Synthes, Inc, and program costs associated with the DePuy ASR^TM Hip. Second quarter 2012 net earnings included after-tax special items of approximately $2.2 billion as shown in the accompanying reconciliation of non-GAAP financial measures. Excluding these special items, net earnings for the current quarter were $4.3 billion and diluted earnings per share were $1.48, representing increases of 17.7% and 13.8%, respectively, as compared to the same period in 2012.*

"Our strong second-quarter results reflect the progress we've made against our near-term priorities of delivering on our financial commitments, restoring a reliable supply of over-the-counter products to consumers, continuing the successful integration of Synthes and building on the momentum in our pharmaceutical business," said Alex Gorsky, Chairman and Chief Executive Officer. "Our talented colleagues at Johnson & Johnson continue to bring meaningful innovations to patients and consumers around the world and have positioned us well to deliver sustainable growth."

The Company increased its earnings guidance for full-year 2013 to $5.40 - $5.47 per share. The Company's guidance excludes the impact of special items.

Worldwide Consumer sales of $3.7 billion for the second quarter represented an increase of 1.1% versus the prior year consisting of an operational increase of 1.7% and a negative impact from currency of 0.6%. Domestic sales increased 1.0%. International sales increased 1.1%, which reflected an operational increase of 2.0% and a negative currency impact of 0.9%.

Positive contributors to operational results were upper respiratory over-the-counter medicines; TYLENOL^® and MOTRIN^® analgesics; international sales of LISTERINE^® mouthwash; baby care products and women's sanitary protection products.

Worldwide Pharmaceutical sales of $7.0 billion for the second quarter represented an increase of 11.7% versus the prior year with operational growth of 12.9% and a negative impact from currency of 1.2%. Domestic sales increased 9.1%. International sales increased 14.1% which reflected an operational increase of 16.5% and a negative currency impact of 2.4%.

Primary contributors to operational sales growth were REMICADE^® (infliximab) and SIMPONI^®(golimumab), biologics approved for the treatment of a number of immune-mediated inflammatory diseases; STELARA^® (ustekinumab), a biologic approved for the treatment of moderate to severe plaque psoriasis; INVEGA^® SUSTENNA^®/XEPLION^® (paliperidone palmitate), a once-monthly, long-acting, injectable atypical antipsychotic for the acute and maintenance treatment of schizophrenia in adults; VELCADE^® (bortezomib), a treatment for multiple myeloma; PREZISTA^® (darunavir), a treatment for HIV; and sales of recently launched products.

The strong sales results of recently launched products included ZYTIGA^® (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic, castration-resistant prostate cancer; XARELTO^® (rivaroxaban), an oral anticoagulant; and INCIVO^® (telaprevir), a direct acting antiviral protease inhibitor, for the treatment of genotype-1 chronic hepatitis C virus.

During the quarter, the U.S. Food and Drug Administration (FDA) approved SIMPONI^® (golimumab) for the treatment of moderately to severely active ulcerative colitis in adult patients who have demonstrated corticosteroid dependence or who have had an inadequate response to or failed to tolerate oral aminosalicylates, oral corticosteroids, azathioprine, or 6-mercaptopurine.

Additionally, the FDA granted Breakthrough Therapy Designation for daratumumab for the treatment of patients with multiple myeloma who have received at least three prior lines of therapy including a proteasome inhibitor (PI) and an immunomodulatory agent (IMiD), or who are double refractory to a PI and IMiD. Daratumumab is an investigational human CD38 monoclonal antibody licensed from Genmab A/S.

In addition, a New Drug Application was submitted to the FDA under Breakthrough Therapy Designation for the use of ibrutinib in previously treated patients with chronic lymphocytic leukemia /small lymphocytic lymphoma, and for use in previously treated patients with mantle cell lymphoma.

Also during the quarter, a Marketing Authorization Application was submitted to the European Medicines Agency seeking approval for simeprevir (TMC435). Simeprevir is a new generation NS3/4A protease inhibitor, administered as one 150mg capsule once daily in combination with peginterferon alfa and ribavirin, indicated for the treatment of genotype 1 or genotype 4 chronic hepatitis C in adult patients with compensated liver disease (including cirrhosis), with or without HIV-1 co-infection, who are treatment naive or who have failed previous interferon therapy (pegylated or non-pegylated) with or without ribavirin.

The Committee for Medical Products for Human Use of The European Medicines Agency granted a positive opinion on two variations relating to the use of VELCADE^®(bortezomib). The first recommendation was for the use of VELCADE^® as retreatment in adult patients who have previously responded to treatment with the same medicine. The second recommendation was as induction therapy in combination with dexamethasone or dexamethasone and thalidomide for adult patients with previously untreated multiple myeloma that are eligible for high-dose chemotherapy with haematological stem cell transplantation. In addition, the European Commission approved a new twice daily (BID) dosing of INCIVO^® (telaprevir), a direct acting antiviral protease inhibitor, in combination with pegylated-interferon and ribavirin for naive and previous treatment experienced patients.

A definitive agreement was signed in June to acquire Aragon Pharmaceuticals, Inc., a privately-held, pharmaceutical discovery and development company focused on drugs to treat hormonally-driven cancers. The acquisition includes Aragon's androgen receptor antagonist program. Aragon's lead product candidate is a second generation androgen receptor signaling inhibitor, ARN-509, in Phase 2 development for castration resistant prostate cancer.

Worldwide Medical Devices and Diagnostics sales of $7.2 billion for the second quarter represented an increase of 9.6% versus the prior year consisting of an operational increase of 12.0% and a negative currency impact of 2.4%. Domestic sales increased 9.8%. International sales increased 9.4%, which reflected an operational increase of 13.7% and a negative currency impact of 4.3%. Sales included the impact of the acquisition of Synthes, Inc., net of the divestiture of the DePuy trauma business. Excluding this impact, worldwide operational sales growth was 0.5%.

Primary contributors to operational growth were sales from the acquisition of Synthes, Inc., in the Orthopaedics business; Biosense Webster's electrophysiology products in the Cardiovascular Care business; Vision Care's 1-Day ACUVUE^®TRUEYE and 1-Day ACUVUE^® MOIST^® disposable contact lenses; and biosurgical and international sales of energy products in the Specialty Surgery business.

During the quarter, the FDA granted Premarket Approval for the SEDASYS^® System, the first computer-assisted personalized sedation system for healthy patients undergoing sedation during routine colonoscopy and esophagogastroduodenoscopy procedures.

About Johnson & Johnson
Caring for the world, one person at a time, inspires and unites the people of Johnson & Johnson. We embrace research and science - bringing innovative ideas, products and services to advance the health and well-being of people. Our approximately 128,000 employees at more than 275 Johnson & Johnson operating companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.

* Net earnings and diluted earnings per share excluding special items are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is included in the financial schedules accompanying this press release and can be found in the Investor Relations section of the Company's website at www.investor.jnj.com.

Johnson & Johnson will conduct a conference call with financial analysts to discuss this news release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the meeting for investors and other interested parties may be accessed by visiting the Johnson & Johnson website at www.investor.jnj.com. A replay and podcast will be available approximately two hours after the live webcast by visiting www.investor.jnj.com.

Copies of the financial schedules accompanying this press release are available at www.investor.jnj.com/historical-sales.cfm. These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliation of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including a pharmaceutical pipeline of selected compounds in late stage development can be found on the Company's website at www.jnj.com.

NOTE TO INVESTORS

(This release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. 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 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, general industry conditions and competition; economic factors, such as interest rate and currency exchange rate fluctuations; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; challenges to patents; significant adverse litigation or government action; impact of business combinations; financial distress and bankruptcies experienced by significant customers and suppliers; changes to governmental laws and regulations and domestic and foreign health care reforms; trends toward health care cost containment; increased scrutiny of the health care industry by government agencies; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and sovereign risk; disruptions due to natural disasters; manufacturing difficulties or delays; complex global supply chains with increasing regulatory requirements; and product efficacy or safety concerns resulting in product recalls or regulatory action. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 30, 2012. Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov, www.investor.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statements as a result of new information or future events or developments.)

Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	SECOND QUARTER						SIX MONTHS
			Percent Change						Percent Change
	2013	2012	Total		Operations	Currency	2013	2012	Total		Operations	Currency
Sales to customers by
segment of business

Consumer
U.S.	$ 1,326	1,313	1.0	%	1.0	-	$ 2,674	2,629	1.7	%	1.7	-
International	2,332	2,306	1.1		2.0	(0.9)	4,659	4,585	1.6		2.9	(1.3)
	3,658	3,619	1.1		1.7	(0.6)	7,333	7,214	1.6		2.4	(0.8)

Pharmaceutical
U.S.	3,377	3,094	9.1		9.1	-	6,848	6,120	11.9		11.9	-
International	3,648	3,197	14.1		16.5	(2.4)	6,945	6,304	10.2		12.4	(2.2)
	7,025	6,291	11.7		12.9	(1.2)	13,793	12,424	11.0		12.1	(1.1)

Med Devices & Diagnostics
U.S.	3,243	2,953	9.8		9.8	-	6,449	5,830	10.6		10.6	-
International	3,951	3,612	9.4		13.7	(4.3)	7,807	7,146	9.2		12.9	(3.7)
	7,194	6,565	9.6		12.0	(2.4)	14,256	12,976	9.9		12.0	(2.1)

U.S.	7,946	7,360	8.0		8.0	-	15,971	14,579	9.5		9.5	-
International	9,931	9,115	9.0		11.8	(2.8)	19,411	18,035	7.6		10.2	(2.6)
Worldwide	$17,877	16,475	8.5	%	10.0	(1.5)	$35,382	32,614	8.5	%	9.9	(1.4)

Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	SECOND QUARTER						SIX MONTHS
					Percent Change						Percent Change
	2013	2012	Total		Operations	Currency	2013	2012	Total		Operations	Currency
Sales to customers by
geographic area

U.S.	$ 7,946	7,360	8.0	%	8.0	-	$15,971	14,579	9.5	%	9.5	-

Europe	4,672	4,165	12.2		11.4	0.8	9,153	8,359	9.5		8.8	0.7
Western Hemisphere excluding U.S.	1,905	1,728	10.2		14.0	(3.8)	3,688	3,442	7.1		11.5	(4.4)
Asia-Pacific, Africa	3,354	3,222	4.1		11.0	(6.9)	6,570	6,234	5.4		11.4	(6.0)
International	9,931	9,115	9.0		11.8	(2.8)	19,411	18,035	7.6		10.2	(2.6)

Worldwide	$17,877	$16,475	8.5	%	10.0	(1.5)	$35,382	$32,614	8.5	%	9.9	(1.4)

Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings

(Unaudited; in Millions Except Per Share Figures)	SECOND QUARTER

	2013			2012			Percent
			Percent			Percent	Increase
	Amount		to Sales	Amount		to Sales	(Decrease)
Sales to customers	$ 17,877		100.0	$ 16,475		100.0	8.5
Cost of products sold	5,489		30.7	5,143		31.2	6.7
Selling, marketing and administrative expenses	5,376		30.1	4,965		30.1	8.3
Research and development expense	1,946		10.9	1,766		10.7	10.2
In-process research and development	-		-	429		2.6
Interest (income) expense, net	101		0.6	129		0.8
Other (income) expense, net	172		0.9	2,008		12.2
Earnings before provision for taxes on income	4,793		26.8	2,035		12.4	135.5
Provision for taxes on income	960		5.4	627		3.9	53.1
Net earnings	$ 3,833		21.4	$ 1,408		8.5	172.2

Net earnings per share (Diluted)	$ 1.33			$ 0.50			166.0

Average shares outstanding (Diluted)	2,893.0			2,798.2

Effective tax rate	20.0	%		30.8	%

Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income	$ 5,359		30.0	$ 4,646		28.2	15.3
Net earnings	$ 4,289		24.0	$ 3,644		22.1	17.7
Net earnings per share (Diluted)	$ 1.48			$ 1.30			13.8
Effective tax rate	20.0	%		21.6	%

(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

	2013			2012			Percent
			Percent			Percent	Increase
	Amount		to Sales	Amount		to Sales	(Decrease)
Sales to customers	$ 35,382		100.0	$ 32,614		100.0	8.5
Cost of products sold	11,043		31.2	10,058		30.8	9.8
Selling, marketing and administrative expenses	10,599		30.0	9,980		30.6	6.2
Research and development expense	3,730		10.5	3,411		10.5	9.4
In-process research and development	64		0.2	429		1.3
Interest (income) expense, net	205		0.6	259		0.8
Other (income) expense, net	687		1.9	1,397		4.3
Earnings before provision for taxes on income	9,054		25.6	7,080		21.7	27.9
Provision for taxes on income	1,724		4.9	1,762		5.4	(2.2)
Net earnings	$ 7,330		20.7	$ 5,318		16.3	37.8

Net earnings per share (Diluted)	$ 2.55			$ 1.91			33.5

Average shares outstanding (Diluted)	2,878.8			2,792.4

Effective tax rate	19.0	%		24.9	%

Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income	$ 10,429		29.5	$ 9,574		29.4	8.9
Net earnings	$ 8,396		23.7	$ 7,448		22.8	12.7
Net earnings per share (Diluted)	$ 2.92			$ 2.67			9.4
Effective tax rate	19.5	%		22.2	%

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

Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures

	Second Quarter		% Incr. /		Six Months YTD		% Incr. /
(Dollars in Millions Except Per Share Data)	2013	2012	(Decr.)		2013	2012	(Decr.)

Earnings before provision for taxes on income - as reported	$ 4,793	2,035	135.5	%	$ 9,054	$ 7,080	27.9	%

Intangible asset write-downs	-	939			-	939

Litigation expenses	375	669			904	669

Synthes integration/transaction costs and currency related	122	574			380	457

In-process research and development	-	429			64	429

DePuy ASR&#8482Hip program	69	-			82	-

Other	-	-			(55)	-

Earnings before provision for taxes on income - as adjusted	$ 5,359	4,646	15.3	%	$ 10,429	9,574	8.9	%

Net Earnings - as reported	$ 3,833	1,408	172.2	%	$ 7,330	5,318	37.8	%

Intangible asset write-downs	-	717			-	717

Litigation expenses	308	611			699	611

Synthes integration/transaction costs and currency related	87	564			270	458

In-process research and development	-	344			42	344

DePuy ASR&#8482Hip program	61	-			91	-

Other	-	-			(36)	-

Net Earnings - as adjusted	$ 4,289	3,644	17.7	%	$ 8,396	7,448	12.7	%

Diluted Net Earnings per share - as reported	$ 1.33	0.50	166.0	%	$ 2.55	1.91	33.5	%

Intangible asset write-downs	-	0.26			-	0.26

Litigation expenses	0.10	0.22			0.24	0.22

Synthes integration/transaction costs and currency related	0.03	0.20			0.09	0.16

In-process research and development	-	0.12			0.02	0.12

DePuy ASR&#8482Hip program	0.02	-			0.03	-

Other	-	-			(0.01)	-

Diluted Net Earnings per share - as adjusted	$ 1.48	1.30	13.8	%	$ 2.92	2.67	9.4	%


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

	REPORTED SALES vs. PRIOR PERIOD ($MM)
	SECOND QUARTER						SIX MONTHS
				% Change						% Change
		2013	2012	Reported	Operational ⁽¹⁾	Currency		2013	2012	Reported	Operational ⁽¹⁾	Currency
CONSUMER SEGMENT ^{(2) (4)}
BABY CARE
US		$ 106	106	0.0%	0.0%	-		$ 209	205	2.0%	2.0%	-
Intl		480	472	1.7%	3.8%	-2.1%		941	913	3.1%	5.7%	-2.6%
WW		586	578	1.4%	3.1%	-1.7%		1,150	1,118	2.9%	5.0%	-2.1%
ORAL CARE
US		149	159	-6.3%	-6.3%	-		307	314	-2.2%	-2.2%	-
Intl		257	249	3.2%	4.3%	-1.1%		502	481	4.4%	5.8%	-1.4%
WW		406	408	-0.5%	0.2%	-0.7%		809	795	1.8%	2.6%	-0.8%
OTC ⁽³⁾
US		290	247	17.4%	17.4%	-		644	538	19.7%	19.7%	-
Intl		641	636	0.8%	0.9%	-0.1%		1,330	1,296	2.6%	3.0%	-0.4%
WW		931	883	5.4%	5.4%	0.0%		1,974	1,834	7.6%	7.9%	-0.3%
SKIN CARE
US		463	471	-1.7%	-1.7%	-		916	924	-0.9%	-0.9%	-
Intl		445	442	0.7%	1.0%	-0.3%		894	896	-0.2%	0.3%	-0.5%
WW		908	913	-0.5%	-0.4%	-0.1%		1,810	1,820	-0.5%	-0.3%	-0.2%
WOMEN'S HEALTH
US		84	80	5.0%	5.0%	-		165	173	-4.6%	-4.6%	-
Intl		327	322	1.6%	3.4%	-1.8%		647	638	1.4%	4.1%	-2.7%
WW		411	402	2.2%	3.6%	-1.4%		812	811	0.1%	2.2%	-2.1%
WOUND CARE/OTHER ⁽³⁾
US		234	250	-6.4%	-6.4%	-		433	475	-8.8%	-8.8%	-
Intl		182	185	-1.6%	-1.4%	-0.2%		345	361	-4.4%	-4.0%	-0.4%
WW		416	435	-4.4%	-4.3%	-0.1%		778	836	-6.9%	-6.7%	-0.2%

TOTAL CONSUMER
US		1,326	1,313	1.0%	1.0%	-		2,674	2,629	1.7%	1.7%	-
Intl		2,332	2,306	1.1%	2.0%	-0.9%		4,659	4,585	1.6%	2.9%	-1.3%
WW		$ 3,658	3,619	1.1%	1.7%	-0.6%		$ 7,333	7,214	1.6%	2.4%	-0.8%


See footnotes at end of schedule



Supplemental Sales Information
	2012						2013
		Q1	Q2	Q3	Q4	FY	Q1
OTC
US		291	247	263	273	1,074	354
Intl		660	636	653	743	2,692	689
WW		951	883	916	1,016	3,766	1,043

WOUND CARE/OTHER
US		225	250	214	195	884	199
Intl		176	185	163	152	676	163
WW		401	435	377	347	1,560	362

	REPORTED SALES vs. PRIOR PERIOD ($MM)
	SECOND QUARTER						SIX MONTHS
				% Change						% Change
		2013	2012	Reported	Operational ⁽¹⁾	Currency		2013	2012	Reported	Operational ⁽¹⁾	Currency
PHARMACEUTICAL SEGMENT ^{(2) (4)}
IMMUNOLOGY
US		$ 1,578	1,471	7.3%	7.3%	-		$ 3,217	2,924	10.0%	10.0%	-
Intl		663	448	48.0%	51.5%	-3.5%		1,228	890	38.0%	40.9%	-2.9%
WW		2,241	1,919	16.8%	17.6%	-0.8%		4,445	3,814	16.5%	17.2%	-0.7%
REMICADE
US		926	890	4.0%	4.0%	-		1,896	1,772	7.0%	7.0%	-
US Exports ⁽⁵⁾		332	366	-9.3%	-9.3%	-		681	744	-8.5%	-8.5%	-
Intl		414	267	55.1%	58.2%	-3.1%		695	28	31.6%	34.0%	-2.4%
WW		1,672	1,523	9.8%	10.3%	-0.5%		3,272	3,044	7.5%	7.9%	-0.4%
SIMPONI
US		87	63	38.1%	38.1%	-		181	127	42.5%	42.5%	-
Intl		88	62	41.9%	48.3%	-6.4%		231	114	*	*	-4.5%
WW		175	125	40.0%	43.2%	-3.2%		412	241	71.0%	73.5%	-2.5%
STELARA
US		233	152	53.3%	53.3%	-		459	281	63.3%	63.3%	-
Intl		138	96	43.8%	45.4%	-1.6%		258	188	37.2%	38.4%	-1.2%
WW		371	248	49.6%	50.2%	-0.6%		717	469	52.9%	53.4%	-0.5%
OTHER IMMUNOLOGY
US		-	-	-	-	-		-	-	-	-	-
Intl		23	23	0.0%	1.1%	-1.1%		44	60	-26.7%	-26.1%	-0.6%
WW		23	23	0.0%	1.1%	-1.1%		44	60	-26.7%	-26.1%	-0.6%
INFECTIOUS DISEASES
US		259	237	9.3%	9.3%	-		497	479	3.8%	3.8%	-
Intl		711	551	29.0%	30.2%	-1.2%		1,288	1,064	21.1%	22.2%	-1.1%
WW		970	788	23.1%	23.9%	-0.8%		1,785	1,543	15.7%	16.5%	-0.8%
INCIVO
US		-	-	-	-	-		-	-	-	-	-
Intl		172	102	68.6%	71.8%	-3.2%		334	234	42.7%	45.4%	-2.7%
WW		172	102	68.6%	71.8%	-3.2%		334	234	42.7%	45.4%	-2.7%
INTELENCE
US		44	42	4.8%	4.8%	-		91	85	7.1%	7.1%	-
Intl		59	49	20.4%	21.0%	-0.6%		101	86	17.4%	18.0%	-0.6%
WW		103	91	13.2%	13.5%	-0.3%		192	171	12.3%	12.6%	-0.3%
PREZISTA
US		196	166	18.1%	18.1%	-		363	326	11.3%	11.3%	-
Intl		239	207	15.5%	16.0%	-0.5%		439	371	18.3%	18.7%	-0.4%
WW		435	373	16.6%	16.9%	-0.3%		802	697	15.1%	15.3%	-0.2%
OTHER INFECTIOUS DISEASES
US		19	29	-34.5%	-34.5%	-		43	68	-36.8%	-36.8%	-
Intl		241	193	24.9%	25.8%	-0.9%		414	373	11.0%	11.9%	-0.9%
WW		260	222	17.1%	17.9%	-0.8%		457	441	3.6%	4.3%	-0.7%

	REPORTED SALES vs. PRIOR PERIOD ($MM)
	SECOND QUARTER						SIX MONTHS
				% Change						% Change
		2013	2012	Reported	Operational ⁽¹⁾	Currency		2013	2012	Reported	Operational ⁽¹⁾	Currency

NEUROSCIENCE
US		626	658	-4.9%	-4.9%	-		1,372	1,332	3.0%	3.0%	-
Intl		1,054	1,056	-0.2%	3.8%	-4.0%		2,052	2,029	1.1%	4.6%	-3.5%
WW		1,680	1,714	-2.0%	0.4%	-2.4%		3,424	3,361	1.9%	4.0%	-2.1%
CONCERTA/METHYLPHENIDATE
US		85	146	-41.8%	-41.8%	-		224	343	-34.7%	-34.7%	-
Intl		130	122	6.6%	8.9%	-2.3%		247	233	6.0%	7.9%	-1.9%
WW		215	268	-19.8%	-18.7%	-1.1%		471	576	-18.2%	-17.4%	-0.8%
INVEGA
US		76	76	0.0%	0.0%	-		147	145	1.4%	1.4%	-
Intl		74	66	12.1%	18.3%	-6.2%		135	118	14.4%	19.9%	-5.5%
WW		150	142	5.6%	8.4%	-2.8%		282	263	7.2%	9.7%	-2.5%
INVEGA SUSTENNA/ XEPLION
US		158	120	31.7%	31.7%	-		322	220	46.4%	46.4%	-
Intl		132	75	76.0%	75.0%	1.0%		252	136	85.3%	84.4%	0.9%
WW		290	195	48.7%	48.3%	0.4%		574	356	61.2%	60.9%	0.3%
RISPERDAL CONSTA
US		107	110	-2.7%	-2.7%	-		213	223	-4.5%	-4.5%	-
Intl		229	245	-6.5%	-3.7%	-2.8%		458	493	-7.1%	-4.9%	-2.2%
WW		336	355	-5.4%	-3.5%	-1.9%		671	716	-6.3%	-4.8%	-1.5%
OTHER NEUROSCIENCE
US		200	206	-2.9%	-2.9%	-		466	401	16.2%	16.2%	-
Intl		489	548	-10.8%	-5.5%	-5.3%		960	1,049	-8.5%	-3.7%	-4.8%
WW		689	754	-8.6%	-4.8%	-3.8%		1,426	1,450	-1.7%	1.8%	-3.5%
ONCOLOGY
US		206	119	73.1%	73.1%	-		405	226	79.2%	79.2%	-
Intl		679	467	45.4%	48.1%	-2.7%		1,274	956	33.3%	35.8%	-2.5%
WW		885	586	51.0%	53.2%	-2.2%		1,679	1,182	42.0%	44.0%	-2.0%
VELCADE
US		-	-	-	-	-		-	-	-	-	-
Intl		379	318	19.2%	22.7%	-3.5%		732	671	9.1%	12.1%	-3.0%
WW		379	318	19.2%	22.7%	-3.5%		732	671	9.1%	12.1%	-3.0%
ZYTIGA
US		174	113	54.0%	54.0%	-		335	213	57.3%	57.3%	-
Intl		221	119	85.7%	85.2%	0.5%		404	219	84.5%	84.4%	0.1%
WW		395	232	70.3%	70.0%	0.3%		739	432	71.1%	71.1%	0.0%
OTHER ONCOLOGY
US		32	6	*	*	-		70	13	*	*	-
Intl		79	30	*	*	-7.4%		138	66	*	*	-6.0%
WW		111	36	*	*	-6.1%		208	79	*	*	-5.0%

	REPORTED SALES vs. PRIOR PERIOD ($MM)
	SECOND QUARTER						SIX MONTHS
				% Change						% Change
		2013	2012	Reported	Operational ⁽¹⁾	Currency		2013	2012	Reported	Operational ⁽¹⁾	Currency
TOTAL OTHER
US		708	609	16.3%	16.3%	-		1,357	1,159	17.1%	17.1%	-
Intl		541	675	-19.9%	-19.9%	0.0%		1,103	1,365	-19.2%	-18.6%	-0.6%
WW		1,249	1,284	-2.7%	-2.7%	0.0%		2,460	2,524	-2.5%	-2.2%	-0.3%
ACIPHEX/PARIET
US		97	104	-6.7%	-6.7%	-		200	200	0.0%	0.0%	-
Intl		59	128	-53.9%	-54.0%	0.1%		108	254	-57.5%	-57.3%	-0.2%
WW		156	232	-32.8%	-32.8%	0.0%		308	454	-32.2%	-32.1%	-0.1%
PROCRIT/EPREX
US		190	232	-18.1%	-18.1%	-		423	436	-3.0%	-3.0%	-
Intl		145	169	-14.2%	-14.6%	0.4%		290	341	-15.0%	-15.3%	0.3%
WW		335	401	-16.5%	-16.7%	0.2%		713	777	-8.2%	-8.3%	0.1%
XARELTO
US		189	49	*	*	-		347	76	*	*	-
Intl		-	-	-	-	-		-	-	-	-	-
WW		189	49	*	*	-		347	76	*	*	-
OTHER
US		232	224	3.6%	3.6%	-		387	447	-13.4%	-13.4%	-
Intl		337	378	-10.8%	-10.5%	-0.3%		705	770	-8.4%	-7.4%	-1.0%
WW		569	602	-5.5%	-5.3%	-0.2%		1,092	1,217	-10.3%	-9.7%	-0.6%

TOTAL PHARMACEUTICAL
US		3,377	3,094	9.1%	9.1%	-		6,848	6,120	11.9%	11.9%	-
Intl		3,648	3,197	14.1%	16.5%	-2.4%		6,945	6,304	10.2%	12.4%	-2.2%
WW		$ 7,025	6,291	11.7%	12.9%	-1.2%		$ 13,793	12,424	11.0%	12.1%	-1.1%

	REPORTED SALES vs. PRIOR PERIOD ($MM)
	SECOND QUARTER						SIX MONTHS
				% Change						% Change
		2013	2012	Reported	Operational ⁽¹⁾	Currency		2013	2012	Reported	Operational ⁽¹⁾	Currency
MEDICAL DEVICES AND DIAGNOSTICS ⁽²⁾
CARDIOVASCULAR CARE
US		$ 204	195	4.6%	4.6%	-		$ 402	371	8.4%	8.4%	-
Intl		325	309	5.2%	9.6%	-4.4%		640	615	4.1%	8.0%	-3.9%
WW		529	504	5.0%	7.7%	-2.7%		1,042	986	5.7%	8.1%	-2.4%
DIABETES CARE
US		259	337	-23.1%	-23.1%	-		542	689	-21.3%	-21.3%	-
Intl		330	336	-1.8%	-0.5%	-1.3%		647	654	-1.1%	0.2%	-1.3%
WW		589	673	-12.5%	-11.8%	-0.7%		1,189	1,343	-11.5%	-10.9%	-0.6%
DIAGNOSTICS
US		241	258	-6.6%	-6.6%	-		489	511	-4.3%	-4.3%	-
Intl		242	256	-5.5%	-1.5%	-4.0%		471	515	-8.5%	-4.7%	-3.8%
WW		483	514	-6.0%	-4.0%	-2.0%		960	1,026	-6.4%	-4.5%	-1.9%
INFECTION PREVENTION/OTHER
US		95	99	-4.0%	-4.0%	-		180	215	-16.3%	-16.3%	-
Intl		139	131	6.1%	12.3%	-6.2%		266	259	2.7%	8.2%	-5.5%
WW		234	230	1.7%	5.2%	-3.5%		446	474	-5.9%	-2.9%	-3.0%
ORTHOPAEDICS
US		1,274	873	45.9%	45.9%	-		2,535	1,656	53.1%	53.1%	-
Intl		1,111	755	47.2%	52.4%	-5.2%		2,235	1,465	52.6%	56.3%	-3.7%
WW		2,385	1,628	46.5%	48.9%	-2.4%		4,770	3,121	52.8%	54.5%	-1.7%
SPECIALTY SURGERY
US		331	336	-1.5%	-1.5%	-		650	663	-2.0%	-2.0%	-
Intl		325	310	4.8%	7.5%	-2.7%		633	611	3.6%	6.2%	-2.6%
WW		656	646	1.5%	2.8%	-1.3%		1,283	1,274	0.7%	1.9%	-1.2%
SURGICAL CARE
US		577	602	-4.2%	-4.2%	-		1,108	1,195	-7.3%	-7.3%	-
Intl		1,011	1,038	-2.6%	0.6%	-3.2%		1,988	2,070	-4.0%	-1.0%	-3.0%
WW		1,588	1,640	-3.2%	-1.2%	-2.0%		3,096	3,265	-5.2%	-3.3%	-1.9%
VISION CARE
US		262	253	3.6%	3.6%	-		543	530	2.5%	2.5%	-
Intl		468	477	-1.9%	6.4%	-8.3%		927	957	-3.1%	4.1%	-7.2%
WW		730	730	0.0%	5.4%	-5.4%		1,470	1,487	-1.1%	3.5%	-4.6%

TOTAL MEDICAL DEVICES AND DIAGNOSTICS
US		3,243	2,953	9.8%	9.8%	-		6,449	5,830	10.6%	10.6%	-
Intl		3,951	3,612	9.4%	13.7%	-4.3%		7,807	7,146	9.2%	12.9%	-3.7%
WW		$ 7,194	6,565	9.6%	12.0%	-2.4%		$ 14,256	12,976	9.9%	12.0%	-2.1%

* Percentage greater than 100%
(1) Operational growth excludes the effect of currency
(2) Select areas (unaudited)
(3) Nutritionals now reflected in Wound Care/Other, previously reported in OTC/Nutritionals
(4) Prior year amounts have been reclassified to conform to current year product disclosure
(5) Reported as U.S. sales

SOURCE Johnson & Johnson

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