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Johnson & Johnson Reports Q2 2021 Results
Jul 21, 2021
- Strong sales growth of 27.1% to $23.3 Billion in Second Quarter 2021 with operational growth of 23.0%* and adjusted operational growth of 23.8%*
- EPS of $2.35 increased 72.8% in Second Quarter 2021 and adjusted EPS of $2.48 increased 48.5%*
- Company increasing 2021 Full-Year guidance for sales and EPS

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