8-K
JOHNSON & JOHNSON (JNJ)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
April 15, 2025
Johnson & Johnson
(Exact name of registrant as specified in its charter)
| New Jersey | 1-3215 | 22-1024240 |
|---|---|---|
| (State or Other Jurisdiction<br><br>of Incorporation) | (Commission File Number) | (IRS Employer<br><br>Identification No.) |
One Johnson & Johnson Plaza, New Brunswick, New Jersey 08933
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
732-524-0400
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
| Emerging growth company | ☐ |
|---|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, Par Value $1.00 | JNJ | New York Stock Exchange |
| 1.150% Notes Due November 2028 | JNJ28 | New York Stock Exchange |
| 2.700% Notes due February 2029 | JNJ29B | New York Stock Exchange |
| 3.200% Notes Due June 2032 | JNJ32 | New York Stock Exchange |
| 3.050% Notes due February 2033 | JNJ33B | New York Stock Exchange |
| 1.650% Notes Due May 2035 | JNJ35 | New York Stock Exchange |
| 3.350% Notes Due June 2036 | JNJ36A | New York Stock Exchange |
| 3.350% Notes due February 2037 | JNJ37B | New York Stock Exchange |
| 3.550% Notes Due June 2044 | JNJ44 | New York Stock Exchange |
| 3.600% Notes due February 2045 | JNJ45 | New York Stock Exchange |
| 3.700% Notes due February 2055 | JNJ55 | New York Stock Exchange |
Item 2.02 Results of operations and financial condition
On April 15, 2025, Johnson & Johnson issued the attached press release (Exhibit 99.1) announcing its sales and earnings for the first quarter ended March 30, 2025.
Item 8.01 Other Events
On April 15, 2025, Johnson & Johnson issued the attached press release (Exhibit 99.3) announcing that its Board of Directors declared a 4.8% increase in the quarterly dividend, from $1.24 per share to $1.30 per share, marking the 63rd year of consecutive increases. At the new rate, the indicated dividend on an annual basis is $5.20 per share compared to the previous rate of $4.96 per share. The next quarterly dividend is payable on June 10, 2025 to shareholders of record at the close of business on May 27, 2025. The ex-dividend date is May 27, 2025.
Item 9.01 Financial statements and exhibits
(d) Exhibits.
| Exhibit No. | Description of Exhibit |
|---|---|
| 99.1 | Press Release datedAprila2025q1exhibit991.htm15, 2025 for the period endedMarcha2025q1exhibit991.htm30, 2025 |
| 99.2 | Unaudited Comparative Supplementary Sales Data and Condensed Consolidated Statement of Earnings for the fiscalfirstquarter |
| 99.3 | Press Release dated April 15, 2025 |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 15, 2025
| JOHNSON & JOHNSON | |
|---|---|
| (Registrant) | |
| By: | /s/ Robert J. Decker, Jr. |
| Robert J. Decker, Jr.<br><br>Controller<br><br>(Principal Accounting Officer) |
Document
Exhibit 99.1
| Media contact:<br><br>media-relations@its.jnj.com | Investor contact:<br><br>investor-relations@its.jnj.com |
|---|
For immediate release
Johnson & Johnson reports Q1 2025 results
•2025 First-Quarter reported sales growth of 2.4% to $21.9 Billion with operational growth of 4.2%* and adjusted operational growth of 3.3%*
•2025 First-Quarter earnings per share (EPS) increased to $4.54 which includes the reversal of special charges and adjusted EPS increased to $2.77 or 2.2%*
•Significant new product pipeline progress including approval of TREMFYA in Crohn’s disease, data for RYBREVANT/LAZCLUZE overall survival in non-small cell lung cancer and icotrokinra in plaque psoriasis, and initiation of the clinical trial for a general surgery robotic system, OTTAVA
•Company increases Full-Year 2025 operational sales2,5 guidance to reflect the addition of CAPLYTA following the completion of the Intra-Cellular Therapies acquisition
•Including tariff costs, dilution from the Intra-Cellular Therapies acquisition, and updated foreign exchange, Company maintains Full-Year 2025 adjusted reported EPS4 outlook of 6.2%* growth at the mid-point
New Brunswick, N.J. (April 15, 2025) – Johnson & Johnson (NYSE: JNJ) today announced results for first-quarter 2025. “The power of Johnson & Johnson’s uniquely diversified portfolio was on full display this quarter, with strong operational sales growth reinforcing our confidence in 2025 guidance,” said Joaquin Duato, Chairman and Chief Executive Officer, Johnson & Johnson. “During the quarter, we fortified our position as an innovation powerhouse with major advancements across our pipeline, including TREMFYA in IBD, RYBREVANT plus LAZCLUZE in non-small-cell lung cancer, and OTTAVA, our soft tissue surgical robotic system, and further enhanced our leading neuroscience portfolio with the completion of the Intra-Cellular Therapies acquisition.”
Overall financial results
| Q1 | |||
|---|---|---|---|
| ($ in Millions, expect EPS) | 2025 | ||
| Reported Sales | 21,893 | 21,383 | |
| Net Earnings | 10,999 | 3,255 | |
| EPS (diluted) | 4.54 | 1.34 | |
| Q1 | |||
| Non-GAAP* ($ in Millions, except EPS) | 2025 | ||
| Operational Sales1,2 | |||
| Adjusted Operational Sales1,3 | |||
| Adjusted Net Earnings1,4 | 6,706 | ||
| Adjusted EPS (diluted)1,4 | 2.77 | ||
| Free Cash Flow6,7 | ~3,400 |
All values are in US Dollars.
1Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2Excludes the impact of translational currency
3Excludes the net impact of acquisitions and divestitures and translational currency
4Excludes intangible amortization expense and special items
5Excludes COVID-19 Vaccine
6Non-GAAP measure; defined as cash flow from operating activities, less additions to property, plant and equipment. Cash flow from operations, the most directly comparable GAAP financial measure, will be included in subsequent SEC filings.
7First-quarter 2025 is estimated as of April 15, 2025
Note: values may have been rounded
Regional sales results
| Q1 | % Change | |||||
|---|---|---|---|---|---|---|
| ($ in Millions) | 2025 | 2024 | Reported | Operational1,2 | Currency | Adjusted<br><br>Operational1,3 |
| U.S. | $12,305 | $11,620 | 5.9% | 5.9 | - | 4.4 |
| International | 9,588 | 9,763 | (1.8) | 2.1 | (3.9) | 1.9 |
| Worldwide | $21,893 | $21,383 | 2.4% | 4.2 | (1.8) | 3.3 |
1Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2Excludes the impact of translational currency
3Excludes the net impact of acquisitions and divestitures and translational currency
Note: values may have been rounded
Segment sales results
| Q1 | % Change | |||||
|---|---|---|---|---|---|---|
| ($ in Millions) | 2025 | 2024 | Reported | Operational1,2 | Currency | Adjusted<br><br>Operational1,3 |
| Innovative Medicine | $13,873 | $13,562 | 2.3% | 4.2 | (1.9) | 4.4 |
| MedTech | 8,020 | 7,821 | 2.5 | 4.1 | (1.6) | 1.3 |
| Worldwide | $21,893 | $21,383 | 2.4% | 4.2 | (1.8) | 3.3 |
1Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2Excludes the impact of translational currency
3Excludes the net impact of acquisitions and divestitures and translational currency
Note: values may have been rounded
First-Quarter 2025 segment commentary:
Operational sales* reflected below excludes the impact of translational currency.
Innovative Medicine
Innovative Medicine worldwide operational sales grew 4.2%* driven primarily by DARZALEX, CARVYKTI, ERLEADA, and RYBREVANT/LAZCLUZE in Oncology, TREMFYA and SIMPONI/SIMPONI ARIA in Immunology, SPRAVATO in Neuroscience, and XARELTO in Cardiovascular/Metabolism/Other. Growth was partially offset by an approximate (810) basis points impact from STELARA in Immunology.
MedTech
MedTech worldwide operational sales grew 4.1%*, with net acquisitions and divestitures positively impacting growth by 2.8%. Growth was driven primarily by Abiomed in Cardiovascular and wound closure products in General Surgery. Growth was partially offset by Spine, Sports & Other in Orthopaedics.
Full-year 2025 guidance:
Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses, and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.
| ($ in Billions, except EPS) | April 2025 | January 2025 |
|---|---|---|
| Adjusted Operational Sales1,2,5<br><br>Change vs. Prior Year / Mid-point | 2.0% – 3.0% / 2.5% | 2.0% – 3.0% / 2.5% |
| Operational Sales2,5 / Mid-point<br><br>Change vs. Prior Year / Mid-point | $91.6B – $92.4B / $92.0B<br><br>3.3% – 4.3% / 3.8% | $90.9B – $91.7B / $91.3B<br><br>2.5% – 3.5% / 3.0% |
| Estimated Reported Sales3,5/ Mid-point<br><br>Change vs. Prior Year / Mid-point | $91.0B – $91.8B / $91.4B<br><br>2.6% – 3.6% / 3.1% | $89.2B – $90.0B / $89.6B<br><br>0.5% – 1.5% / 1.0% |
| Adjusted Operational EPS (Diluted)2,4 / Mid-point<br><br>Change vs. Prior Year / Mid-point | $10.50 – $10.70 / $10.60<br><br>5.2% – 7.2% / 6.2% | $10.75 – $10.95 / $10.85<br><br>7.7% – 9.7% / 8.7% |
| Adjusted EPS (Diluted)3,4 / Mid-point<br><br>Change vs. Prior Year / Mid-point | $10.50 – $10.70 / $10.60<br><br>5.2% – 7.2% / 6.2% | $10.50 – $10.70 / $10.60<br><br>5.2% – 7.2% / 6.2% |
1Non-GAAP financial measure; excludes the net impact of acquisitions and divestitures
2Non-GAAP financial measure; excludes the impact of translational currency
3Calculated using Euro Average Rate: April 2025 = $1.10 and January 2025 = $1.04 (Illustrative purposes only)
4Non-GAAP financial measure; excludes intangible amortization expense and special items
5Excludes COVID-19 Vaccine
Note: percentages may have been rounded
Other modeling considerations will be provided on the webcast
Notable announcements in the quarter:
The information contained in this section should be read together with Johnson & Johnson’s other disclosures filed with the Securities and Exchange Commission, including its Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. The reader is also encouraged to review all other news releases and information available in the Investor Relations section of the company’s website at News Releases, as well as Innovative Medicine News Center, MedTech News & Events, and www.factsabouttalc.com.
| Regulatory | European Commission approves subcutaneous RYBREVANT (amivantamab) for the treatment of patients with advanced EGFR-mutated non-small cell lung cancer1 | Press Release |
|---|---|---|
| European Commission approves Johnson & Johnson’s subcutaneous DARZALEX (daratumumab)-based quadruplet regimen for the treatment of patients with newly diagnosed multiple myeloma, regardless of transplant eligibility1 | Press Release | |
| U.S. FDA approves TREMFYA (guselkumab), the first and only IL-23 inhibitor offering both subcutaneous and intravenous induction options, for adult patients with moderately to severely active Crohn's disease | Press Release | |
| --- | --- | --- |
| Nipocalimab, the first and only investigational treatment to be granted U.S. FDA Breakthrough Therapy designation for the treatment of adults with moderate-to-severe Sjögren's disease, has now received Fast Track designation | Press Release | |
| Data Releases | Johnson & Johnson MedTech Announces Completion of First Cases with OTTAVA Robotic Surgical System1 | Press Release |
| Icotrokinra results show 75% of adolescents with plaque psoriasis achieved completely clear skin and demonstrate favorable safety profile in a once daily pill1 | Press Release | |
| Johnson & Johnson highlights new data that showcase the strength of nipocalimab, demonstrating long-term sustained disease control in adults living with generalized myasthenia gravis (gMG)1 | Press Release | |
| TREMFYA (guselkumab) is the first and only IL-23 inhibitor to significantly reduce both the signs and symptoms and the progression of structural damage in adults living with active psoriatic arthritis1 | Press Release | |
| Johnson & Johnson MedTech to Highlight Latest Advancements in Heart Disease Treatment with Impella at ACC.25 | Press Release | |
| RYBREVANT (amivantamab-vmjw) plus LAZCLUZE (lazertinib) outperforms osimertinib with a significant and unprecedented overall survival benefit in patients with EGFR-mutated non-small cell lung cancer | Press Release | |
| New nipocalimab data and real-world research at AAN 2025 highlight positive Phase 3 results and commitment to people living with generalized myasthenia gravis (gMG) | Press Release | |
| RYBREVANT (amivantamab-vmjw) plus LAZCLUZE (lazertinib) significantly outperforms standard of care in first-line EGFR-mutated lung cancer with compelling new data at ELCC 2025 | Press Release | |
| Johnson & Johnson MedTech Showcases New Era of Digital Orthopaedics at AAOS 2025 | Press Release | |
| Icotrokinra meets primary endpoint of clinical response in ulcerative colitis study and shows potential to transform the treatment paradigm for patients | Press Release | |
| Icotrokinra results show potential to set a new standard of treatment in plaque psoriasis | Press Release | |
| TREMFYA (guselkumab) subcutaneous (SC) induction data support potential to be the first and only in its class to offer the option of both intravenous and SC induction therapy in ulcerative colitis | Press Release | |
| New nipocalimab data published in mAbs journal details differentiated molecular design, clinical profile and potential of nipocalimab to treat IgG-driven alloantibody and autoantibody diseases | Press Release | |
| Findings from pivotal nipocalimab Phase 3 study in a broad antibody positive population of people living with generalized myasthenia gravis (gMG) published in The Lancet Neurology | Press Release | |
| Product Launch | Shockwave Medical Launches Novel Forward Intravascular Lithotripsy Platform in U.S. to Transform Treatment of Difficult-to-Cross Calcified Lesions | Press Release |
| Other | Johnson & Johnson Closes Landmark Intra-Cellular Therapies, Inc. Acquisition to Solidify Neuroscience Leadership1 | Press Release |
| --- | --- | --- |
| Johnson & Johnson to Return to Tort System to Defeat Meritless Talc Claims1 | Press Release | |
| Johnson & Johnson Increases U.S. Investment to More than $55 Billion Over the Next Four Years | Press Release | |
| Johnson & Johnson Announces Darren Snellgrove as Vice President, Investor Relations | Press Release |
1Subsequent to the quarter
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 Investor Relations section of the company's website at events-and-presentations.
About Johnson & Johnson:
At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow, and profoundly impact health for humanity. Learn more at www.jnj.com.
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 Investor Relations 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, an Innovative Medicine pipeline of selected compounds in late stage development and a copy of today’s earnings call presentation can also be found in the Investor Relations 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, and 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: economic factors, such as interest rate and currency exchange rate fluctuations or changes to applicable laws and regulations; 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, including restructuring 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; and 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 most recent Annual Report on Form 10-K, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in Johnson & Johnson’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.
Document
Exhibit 99.2
Johnson & Johnson and subsidiaries
Supplementary sales data
| (Unaudited; Dollars in Millions) | FIRST QUARTER | |||||
|---|---|---|---|---|---|---|
| Percent Change | ||||||
| Sales to customers by geographic area | 2025 | 2024 | Total | Operations | Currency | |
| U.S. | $12,305 | 11,620 | 5.9 | % | 5.9 | — |
| Europe | 5,110 | 5,163 | (1.0) | 2.2 | (3.2) | |
| Western Hemisphere excluding U.S. | 1,167 | 1,194 | (2.3) | 9.2 | (11.5) | |
| Asia-Pacific, Africa | 3,311 | 3,406 | (2.8) | (0.6) | (2.2) | |
| International | 9,588 | 9,763 | (1.8) | 2.1 | (3.9) | |
| Worldwide | $21,893 | 21,383 | 2.4 | % | 4.2 | (1.8) |
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) | FIRST QUARTER | |||||||
|---|---|---|---|---|---|---|---|---|
| Percent Change | ||||||||
| Sales to customers by segment of business | 2025 | 2024 | Total | Operations | Currency | |||
| Innovative Medicine | ||||||||
| U.S. | $ | 8,092 | 7,612 | 6.3 | % | 6.3 | — | |
| International | 5,781 | 5,950 | (2.9) | 1.5 | (4.4) | |||
| 13,873 | 13,562 | 2.3 | 4.2 | (1.9) | ||||
| MedTech | ||||||||
| U.S. | 4,213 | 4,008 | 5.1 | 5.1 | — | |||
| International | 3,807 | 3,813 | (0.2) | 3.0 | (3.2) | |||
| 8,020 | 7,821 | 2.5 | 4.1 | (1.6) | ||||
| U.S. | 12,305 | 11,620 | 5.9 | 5.9 | — | |||
| International | 9,588 | 9,763 | (1.8) | 2.1 | (3.9) | |||
| Worldwide | $ | 21,893 | 21,383 | 2.4 | % | 4.2 | (1.8) |
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
Johnson & Johnson and subsidiaries
Condensed consolidated statement of earnings
| (Unaudited; in Millions Except Per Share Figures) | FIRST QUARTER | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2024 | Percent<br>Increase<br>(Decrease) | |||||||
| Amount | Percent<br>to Sales | Amount | Percent<br>to Sales | ||||||
| Sales to customers | $ | 21,893 | 100.0 | $ | 21,383 | 100.0 | 2.4 | ||
| Cost of products sold | 7,357 | 33.6 | 6,511 | 30.4 | 13.0 | ||||
| Gross Profit | 14,536 | 66.4 | 14,872 | 69.6 | (2.3) | ||||
| Selling, marketing and administrative expenses | 5,112 | 23.3 | 5,257 | 24.6 | (2.8) | ||||
| Research and development expense | 3,225 | 14.7 | 3,542 | 16.6 | (8.9) | ||||
| Interest (income) expense, net | (128) | (0.6) | (209) | (1.0) | |||||
| Other (income) expense, net | (7,321) | (33.4) | 2,404 | 11.2 | |||||
| Restructuring | 17 | 0.1 | 164 | 0.8 | |||||
| Earnings before provision for taxes on income | 13,631 | 62.3 | 3,714 | 17.4 | 267.0 | ||||
| Provision for taxes on income | 2,632 | 12.1 | 459 | 2.2 | 473.4 | ||||
| Net earnings | $ | 10,999 | 50.2 | $ | 3,255 | 15.2 | 237.9 | ||
| Net earnings per share (Diluted) | $ | 4.54 | $ | 1.34 | 238.8 | ||||
| Average shares outstanding (Diluted) | 2,423.8 | 2,430.1 | |||||||
| Effective tax rate | 19.3 | % | 12.4 | % | |||||
| Adjusted earnings before provision for taxes and net earnings (1) (A) | |||||||||
| Earnings before provision for taxes on income | $ | 8,011 | 36.6 | $ | 7,877 | 36.8 | 1.7 | ||
| Net earnings | $ | 6,706 | 30.6 | $ | 6,580 | 30.8 | 1.9 | ||
| Net earnings per share (Diluted) | $ | 2.77 | $ | 2.71 | 2.2 | ||||
| Effective tax rate | 16.3 | % | 16.5 | % |
(1) See Reconciliation of Non-GAAP Financial Measures.
(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings before provision for taxes on income," "adjusted net earnings," "adjusted net earnings per share (diluted)," and "adjusted effective tax rate" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant gains from divestitures, significant costs associated with acquisitions, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters). Special items may be highly variable, difficult to predict, and of a size that sometimes has substantial impact on the Company's reported results of operations for a period. Management uses these measures internally for planning, forecasting and evaluating the performances of the Company's businesses, including allocating resources and evaluating results relative to employee performance compensation targets. Unlike earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate prepared in accordance with GAAP, adjusted earnings before provision for taxes on income, adjusted net earnings, adjusted net earnings per share (diluted), and adjusted effective tax rate may not be comparable with the calculation of similar measures for other companies. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of the Company's results of operations without including all events during a period, such as intangible asset amortization expense, significant gains from divestitures, the effects of an acquisition, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) and do not provide a comparable view of the Company's performance to other companies in the health care industry. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP.
Johnson & Johnson and subsidiaries
Reconciliation of non-GAAP financial measures
| First Quarter | ||
|---|---|---|
| (Dollars in Millions Except Per Share Data) | 2025 | |
| Net Earnings, after tax- as reported | 10,999 | |
| Pre-tax Adjustments | ||
| Litigation related | (6,966) | |
| Intangible Asset Amortization expense | 1,120 | |
| Restructuring related 1 | 55 | |
| Acquisition, integration and divestiture related | 132 | |
| (Gains)/losses on securities | 39 | |
| Medical Device Regulation | — | |
| COVID-19 Vaccine related costs | — | |
| Tax Adjustments | ||
| Tax impact on special item adjustments 2 | 1,315 | |
| Tax legislation and other tax related | 12 | |
| Adjusted Net Earnings, after tax | 6,706 | |
| Average shares outstanding (Diluted) | 2,423.8 | |
| Adjusted net earnings per share (Diluted) | 2.77 | |
| Operational adjusted net earnings per share (Diluted) | 2.81 |
All values are in US Dollars.
Notes:
1In fiscal 2023, the company completed a prioritization of its research and development (R&D) investment within the Innovative Medicine segment to focus on the most promising medicines with the greatest benefit to patients. This resulted in the exit of certain programs within therapeutic areas. The R&D program exits are primarily in infectious diseases and vaccines including the discontinuation of its respiratory syncytial virus (RSV) adult vaccine program, hepatitis and HIV development. The restructuring expenses of $144 million in the fiscal first quarter of 2024 include the termination of partnered and non-partnered program costs and asset impairments. This program was completed in Q4 2024.
In fiscal 2023, the company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expenses of $55 million in the fiscal first quarter of 2025 and $27 million in the fiscal first quarter of 2024 primarily includes costs related to market and product exits.
2The 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 measures
Adjusted operational sales growth(A)
First quarter 2025 actual vs. 2024 actual
| Segments | ||||||
|---|---|---|---|---|---|---|
| Innovative Medicine | MedTech | Total | ||||
| WW As Reported | 2.3 | % | 2.5 | % | 2.4 | % |
| U.S. | 6.3 | % | 5.1 | % | 5.9 | % |
| International | (2.9 | %) | (0.2 | %) | (1.8 | %) |
| WW Currency | (1.9) | (1.6) | (1.8) | |||
| U.S. | — | — | — | |||
| International | (4.4) | (3.2) | (3.9) | |||
| WW Operational | 4.2 | % | 4.1 | % | 4.2 | % |
| U.S. | 6.3 | % | 5.1 | % | 5.9 | % |
| International | 1.5 | % | 3.0 | % | 2.1 | % |
| Shockwave | (3.3) | (1.2) | ||||
| U.S. | (5.1) | (1.8) | ||||
| International | (1.4) | (0.5) | ||||
| All Other Acquisitions and Divestitures (A&D) | 0.2 | 0.5 | 0.3 | |||
| U.S. | 0.0 | 0.9 | 0.3 | |||
| International | 0.4 | 0.2 | 0.3 | |||
| WW Adjusted Operational Ex A&D | 4.4 | % | 1.3 | % | 3.3 | % |
| U.S. | 6.3 | % | 0.9 | % | 4.4 | % |
| International | 1.9 | % | 1.8 | % | 1.9 | % |
Note: Percentages are based on actual, non-rounded figures and may not sum
(A) NON-GAAP FINANCIAL MEASURE “Adjusted operational sales growth" excludes acquisitions, divestitures and translational currency and is a non-GAAP financial measure. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. Due to the variable nature of acquisitions and divestitures, and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods. The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry.
Johnson & Johnson
Segment sales
(Dollars in Millions)
| FIRST QUARTER | ||||||||
|---|---|---|---|---|---|---|---|---|
| % Change | ||||||||
| 2025 | 2024 | Reported | Operational(1) | Currency | ||||
| INNOVATIVE MEDICINE SEGMENT(2) | ||||||||
| ONCOLOGY | ||||||||
| US | $3,013 | 2,383 | 26.4 | % | 26.4 | % | — | % |
| Intl | 2,664 | 2,430 | 9.6 | 14.4 | (4.8) | |||
| WW | 5,678 | 4,814 | 17.9 | 20.4 | (2.5) | |||
| CARVYKTI | ||||||||
| US | 318 | 140 | * | * | — | |||
| Intl | 51 | 16 | * | * | * | |||
| WW | 369 | 157 | * | * | * | |||
| DARZALEX | ||||||||
| US | 1,829 | 1,464 | 24.9 | 24.9 | — | |||
| Intl | 1,409 | 1,228 | 14.7 | 19.8 | (5.1) | |||
| WW | 3,237 | 2,692 | 20.3 | 22.5 | (2.2) | |||
| ERLEADA | ||||||||
| US | 292 | 285 | 2.5 | 2.5 | — | |||
| Intl | 479 | 404 | 18.5 | 23.1 | (4.6) | |||
| WW | 771 | 689 | 11.9 | 14.6 | (2.7) | |||
| IMBRUVICA | ||||||||
| US | 235 | 265 | (11.5) | (11.5) | — | |||
| Intl | 474 | 518 | (8.5) | (4.2) | (4.3) | |||
| WW | 709 | 784 | (9.5) | (6.7) | (2.8) | |||
| RYBREVANT / LAZCLUZE(3) | ||||||||
| US | 113 | 36 | * | * | — | |||
| Intl | 28 | 11 | * | * | * | |||
| WW | 141 | 47 | * | * | * | |||
| TALVEY(3) | ||||||||
| US | 68 | 50 | 35.2 | 35.2 | — | |||
| Intl | 18 | 8 | * | * | * | |||
| WW | 86 | 58 | 48.4 | 50.2 | (1.8) | |||
| TECVAYLI | ||||||||
| US | 105 | 101 | 4.9 | 4.9 | — | |||
| Intl | 46 | 33 | 38.8 | 45.9 | (7.1) | |||
| WW | 151 | 133 | 13.3 | 15.0 | (1.7) | |||
| ZYTIGA / abiraterone acetate | ||||||||
| US | 7 | 9 | (24.3) | (24.3) | — | |||
| Intl | 118 | 172 | (31.3) | (28.5) | (2.8) | |||
| WW | 125 | 181 | (30.9) | (28.3) | (2.6) | |||
| OTHER ONCOLOGY(3) | ||||||||
| US | 47 | 33 | 42.9 | 42.9 | — | |||
| Intl | 42 | 41 | 4.6 | 10.1 | (5.5) | |||
| WW | 89 | 73 | 21.7 | 24.7 | (3.0) | |||
| See footnotes at end of schedule |
Johnson & Johnson
Segment sales
(Dollars in Millions)
| % Change | |||||||
| 2024 | Reported | Operational(1) | Currency | ||||
| INNOVATIVE MEDICINE SEGMENT(2)(Continued) | |||||||
| IMMUNOLOGY | |||||||
| US | 2,453 | (10.5) | % | (10.5) | % | — | % |
| Intl | 1,794 | (15.8) | (11.5) | (4.3) | |||
| WW | 4,247 | (12.7) | (10.9) | (1.8) | |||
| REMICADE | |||||||
| US | 266 | 18.1 | 18.1 | — | |||
| US Exports(4) | 27 | (64.2) | (64.2) | — | |||
| Intl | 141 | 1.3 | 6.8 | (5.5) | |||
| WW | 434 | 7.5 | 9.3 | (1.8) | |||
| SIMPONI / SIMPONI ARIA | |||||||
| US | 254 | 14.8 | 14.8 | — | |||
| Intl | 299 | 22.4 | 29.7 | (7.3) | |||
| WW | 554 | 18.9 | 22.9 | (4.0) | |||
| STELARA | |||||||
| US | 1,396 | (29.8) | (29.8) | — | |||
| Intl | 1,055 | (38.9) | (35.8) | (3.1) | |||
| WW | 2,451 | (33.7) | (32.3) | (1.4) | |||
| TREMFYA | |||||||
| US | 509 | 17.6 | 17.6 | — | |||
| Intl | 299 | 19.2 | 24.4 | (5.2) | |||
| WW | 808 | 18.2 | 20.1 | (1.9) | |||
| OTHER IMMUNOLOGY | |||||||
| US | 0 | * | * | — | |||
| Intl | 0 | — | — | — | |||
| WW | 0 | * | * | — | |||
| NOSCIENCE | |||||||
| US | 1,054 | (8.1) | (8.1) | — | |||
| Intl | 749 | (9.3) | (5.5) | (3.8) | |||
| WW | 1,803 | (8.6) | (7.0) | (1.6) | |||
| CONCERTA / methylphenidate | |||||||
| US | 41 | (7.4) | (7.4) | — | |||
| Intl | 136 | (18.9) | (15.2) | (3.7) | |||
| WW | 177 | (16.3) | (13.4) | (2.9) | |||
| INVEGA SUSTENNA / XEPLION / INVEGATRINZA / TREVICTA | |||||||
| US | 765 | (18.2) | (18.2) | — | |||
| Intl | 292 | (4.9) | (1.1) | (3.8) | |||
| WW | 1,056 | (14.5) | (13.5) | (1.0) | |||
| SPRAVATO | |||||||
| US | 191 | 45.0 | 45.0 | — | |||
| Intl | 34 | 25.0 | 31.7 | (6.7) | |||
| WW | 225 | 41.9 | 42.9 | (1.0) | |||
| OTHER NOSCIENCE | |||||||
| US | 58 | (50.6) | (50.6) | — | |||
| Intl | 287 | (13.4) | (9.8) | (3.6) | |||
| WW | 345 | (19.6) | (16.7) | (2.9) | |||
| See footnotes at end of schedule |
All values are in Euros.
Johnson & Johnson
Segment sales
(Dollars in Millions)
| FIRST QUARTER | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| % Change | |||||||||
| 2025 | 2024 | Reported | Operational(1) | Currency | |||||
| INNOVATIVE MEDICINE SEGMENT(2)(Continued) | |||||||||
| PULMONARY HYPERTENSION | |||||||||
| US | $ | 744 | 766 | (2.9) | % | (2.9) | % | — | % |
| Intl | 281 | 283 | (0.6) | 3.2 | (3.8) | ||||
| WW | 1,025 | 1,049 | (2.3) | (1.2) | (1.1) | ||||
| OPSUMIT / OPSYNVI(3) | |||||||||
| US | 363 | 356 | 2.1 | 2.1 | — | ||||
| Intl | 159 | 169 | (6.0) | (2.5) | (3.5) | ||||
| WW | 522 | 524 | (0.5) | 0.6 | (1.1) | ||||
| UPTRAVI | |||||||||
| US | 365 | 392 | (6.9) | (6.9) | — | ||||
| Intl | 86 | 76 | 13.4 | 17.5 | (4.1) | ||||
| WW | 451 | 468 | (3.6) | (2.9) | (0.7) | ||||
| OTHER PULMONARY HYPERTENSION (3) | |||||||||
| US | 15 | 18 | (12.7) | (12.7) | — | ||||
| Intl | 37 | 39 | (4.6) | (0.3) | (4.3) | ||||
| WW | 52 | 56 | (7.2) | (4.3) | (2.9) | ||||
| INFECTIOUS DISEASES | |||||||||
| US | 315 | 324 | (2.8) | (2.8) | — | ||||
| Intl | 487 | 497 | (1.9) | 1.9 | (3.8) | ||||
| WW | 802 | 821 | (2.2) | 0.1 | (2.3) | ||||
| EDURANT / rilpivirine | |||||||||
| US | 8 | 8 | (1.3) | (1.3) | — | ||||
| Intl | 350 | 315 | 11.0 | 14.7 | (3.7) | ||||
| WW | 358 | 323 | 10.7 | 14.3 | (3.6) | ||||
| PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA | |||||||||
| US | 305 | 314 | (2.9) | (2.9) | — | ||||
| Intl | 98 | 104 | (6.2) | (0.6) | (5.6) | ||||
| WW | 403 | 418 | (3.7) | (2.3) | (1.4) | ||||
| OTHER INFECTIOUS DISEASES(3) | |||||||||
| US | 2 | 2 | 7.7 | 7.7 | — | ||||
| Intl | 39 | 77 | (48.8) | (47.0) | (1.8) | ||||
| WW | 41 | 78 | (47.6) | (45.9) | (1.7) | ||||
| See footnotes at end of schedule |
Johnson & Johnson
Segment sales
(Dollars in Millions)
| FIRST QUARTER | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| % Change | |||||||||
| 2025 | 2024 | Reported | Operational(1) | Currency | |||||
| INNOVATIVE MEDICINE SEGMENT(2)(Continued) | |||||||||
| CARDIOVASCULAR / METABOLISM / OTHER | |||||||||
| US | $ | 855 | 631 | 35.4 | % | 35.4 | % | — | % |
| Intl | 158 | 197 | (19.7) | (15.3) | (4.4) | ||||
| WW | 1,013 | 829 | 22.3 | 23.4 | (1.1) | ||||
| XARELTO | |||||||||
| US | 690 | 518 | 33.3 | 33.3 | — | ||||
| Intl | — | — | — | — | — | ||||
| WW | 690 | 518 | 33.3 | 33.3 | — | ||||
| OTHER | |||||||||
| US | 165 | 114 | 45.0 | 45.0 | — | ||||
| Intl | 158 | 197 | (19.7) | (15.3) | (4.4) | ||||
| WW | 323 | 311 | 3.9 | 6.7 | (2.8) | ||||
| TOTAL INNOVATIVE MEDICINE | |||||||||
| US | 8,092 | 7,612 | 6.3 | 6.3 | — | ||||
| Intl | 5,781 | 5,950 | (2.9) | 1.5 | (4.4) | ||||
| WW | $ | 13,873 | 13,562 | 2.3 | % | 4.2 | % | (1.9) | % |
See footnotes at end of schedule
Johnson & Johnson
Segment sales
(Dollars in Millions)
| FIRST QUARTER | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| % Change | |||||||||
| 2025 | 2024 | Reported | Operational(1) | Currency | |||||
| MEDTECH SEGMENT(2) | |||||||||
| CARDIOVASCULAR | |||||||||
| US | $ | 1,261 | 1,025 | 23.0 | % | 23.0 | % | — | % |
| Intl | 842 | 781 | 7.8 | 10.7 | (2.9) | ||||
| WW | 2,103 | 1,806 | 16.4 | 17.7 | (1.3) | ||||
| ELECTROPHYSIOLOGY | |||||||||
| US | 684 | 692 | (1.1) | (1.1) | — | ||||
| Intl | 638 | 652 | (2.0) | 0.7 | (2.7) | ||||
| WW | 1,323 | 1,344 | (1.6) | (0.2) | (1.4) | ||||
| ABIOMED | |||||||||
| US | 339 | 303 | 11.9 | 11.9 | — | ||||
| Intl | 81 | 67 | 19.7 | 23.6 | (3.9) | ||||
| WW | 420 | 371 | 13.3 | 14.0 | (0.7) | ||||
| SHOCKWAVE(5) | |||||||||
| US | 206 | — | * | * | — | ||||
| Intl | 52 | — | * | * | — | ||||
| WW | 258 | — | * | * | — | ||||
| OTHER CARDIOVASCULAR | |||||||||
| US | 32 | 30 | 7.1 | 7.1 | — | ||||
| Intl | 72 | 62 | 15.1 | 17.4 | (2.3) | ||||
| WW | 103 | 92 | 12.5 | 14.1 | (1.6) | ||||
| ORTHOPAEDICS | |||||||||
| US | 1,384 | 1,448 | (4.4) | (4.4) | — | ||||
| Intl | 857 | 892 | (3.9) | (0.9) | (3.0) | ||||
| WW | 2,241 | 2,340 | (4.2) | (3.1) | (1.1) | ||||
| HIPS | |||||||||
| US | 263 | 270 | (2.5) | (2.5) | — | ||||
| Intl | 146 | 152 | (4.0) | (0.8) | (3.2) | ||||
| WW | 409 | 422 | (3.1) | (1.9) | (1.2) | ||||
| KNEES | |||||||||
| US | 231 | 242 | (4.3) | (4.3) | — | ||||
| Intl | 158 | 160 | (1.0) | 2.1 | (3.1) | ||||
| WW | 389 | 401 | (3.0) | (1.7) | (1.3) | ||||
| TRAUMA | |||||||||
| US | 502 | 504 | (0.5) | (0.5) | — | ||||
| Intl | 270 | 261 | 3.7 | 7.2 | (3.5) | ||||
| WW | 772 | 765 | 0.9 | 2.1 | (1.2) | ||||
| SPINE, SPORTS & OTHER | |||||||||
| US | 388 | 432 | (10.2) | (10.2) | — | ||||
| Intl | 283 | 320 | (11.6) | (8.9) | (2.7) | ||||
| WW | 671 | 752 | (10.8) | (9.7) | (1.1) |
See footnotes at end of schedule
Johnson & Johnson
Segment sales
(Dollars in Millions)
| FIRST QUARTER | ||||||||
|---|---|---|---|---|---|---|---|---|
| % Change | ||||||||
| 2025 | 2024 | Reported | Operational(1) | Currency | ||||
| MEDTECH SEGMENT(2)(Continued) | ||||||||
| SURGERY | ||||||||
| US | $1,002 | 987 | 1.5 | % | 1.5 | % | — | % |
| Intl | 1,394 | 1,429 | (2.5) | 0.8 | (3.3) | |||
| WW | 2,396 | 2,416 | (0.8) | 1.1 | (1.9) | |||
| ADVANCED | ||||||||
| US | 457 | 446 | 2.7 | 2.7 | — | |||
| Intl | 616 | 641 | (4.0) | (1.0) | (3.0) | |||
| WW | 1,073 | 1,087 | (1.2) | 0.5 | (1.7) | |||
| GENERAL | ||||||||
| US | 544 | 542 | 0.5 | 0.5 | — | |||
| Intl | 778 | 788 | (1.2) | 2.3 | (3.5) | |||
| WW | 1,323 | 1,330 | (0.5) | 1.6 | (2.1) | |||
| VISION | ||||||||
| US | 566 | 547 | 3.4 | 3.4 | — | |||
| Intl | 713 | 710 | 0.4 | 3.9 | (3.5) | |||
| WW | 1,279 | 1,258 | 1.7 | 3.7 | (2.0) | |||
| CONTACT LENSES / OTHER | ||||||||
| US | 452 | 438 | 3.1 | 3.1 | — | |||
| Intl | 467 | 472 | (1.1) | 2.4 | (3.5) | |||
| WW | 919 | 910 | 1.0 | 2.7 | (1.7) | |||
| SURGICAL | ||||||||
| US | 114 | 110 | 4.3 | 4.3 | — | |||
| Intl | 246 | 238 | 3.4 | 7.1 | (3.7) | |||
| WW | 361 | 348 | 3.7 | 6.2 | (2.5) | |||
| TOTAL MEDTECH | ||||||||
| US | 4,213 | 4,008 | 5.1 | 5.1 | — | |||
| Intl | 3,807 | 3,813 | (0.2) | 3.0 | (3.2) | |||
| WW | $8,020 | 7,821 | 2.5 | % | 4.1 | % | (1.6) | % |
Note: Column 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)See Supplemental Sales Information Schedule
(4)Reported as U.S. sales
(5)Acquired on May 31, 2024
Supplemental sales information (unaudited)
(Dollars in Millions)
| 2023 | 2024 | 2024 | |||||
|---|---|---|---|---|---|---|---|
| Full Year | Q1 | Q2 | Q3 | Q4 | Full Year | ||
| INNOVATIVE MEDICINE SEGMENT | |||||||
| ONCOLOGY | |||||||
| RYBREVANT / LAZCLUZE | |||||||
| US | $ | 66 | 36 | 52 | 68 | 101 | 257 |
| INTL | 27 | 11 | 17 | 21 | 21 | 70 | |
| WW | 93 | 47 | 69 | 89 | 122 | 327 | |
| TALVEY | |||||||
| US | 56 | 50 | 59 | 64 | 68 | 241 | |
| INTL | 7 | 8 | 9 | 12 | 17 | 46 | |
| WW | 63 | 58 | 69 | 75 | 85 | 287 | |
| OTHER ONCOLOGY | |||||||
| US | 93 | 33 | 37 | 36 | 39 | 145 | |
| INTL | 235 | 41 | 45 | 50 | 36 | 172 | |
| WW | 328 | 73 | 83 | 86 | 75 | 317 | |
| PULMONARY HYPERTENSION | |||||||
| OPSUMIT / OPSYNVI | |||||||
| US | 1,292 | 356 | 376 | 417 | 408 | 1,557 | |
| INTL | 681 | 169 | 171 | 166 | 162 | 668 | |
| WW | 1,973 | 524 | 548 | 583 | 570 | 2,225 | |
| OTHER PULMONARY HYPERTENSION | |||||||
| US | 79 | 18 | 17 | 21 | 19 | 75 | |
| INTL | 182 | 39 | 49 | 39 | 38 | 165 | |
| WW | 260 | 56 | 67 | 60 | 57 | 240 | |
| INFECTIOUS DISEASES | |||||||
| OTHER INFECTIOUS DISEASES (1) | |||||||
| US | 19 | 2 | 5 | 3 | 1 | 11 | |
| INTL | 1,395 | 77 | 227 | 54 | 43 | 401 | |
| WW | $ | 1,414 | 78 | 233 | 56 | 45 | 412 |
Note: Columns and rows within tables may not add due to rounding
(1) Other Infectious Diseases is inclusive of COVID-19 Vaccine sales, which were previously disclosed separately
Document
Exhibit 99.3
| Media contact:<br><br>media-relations@its.jnj.com | Investor contact:<br><br>investor-relations@its.jnj.com |
|---|
Johnson & Johnson Announces 63rd Consecutive Year of Dividend Increase; Raises Quarterly Dividend by 4.8%
New Brunswick, NJ (April 15, 2025) – Johnson & Johnson (NYSE: JNJ) today announced that its Board of Directors has declared a 4.8% increase in the quarterly dividend, from $1.24 per share to $1.30 per share, marking the 63rd year of consecutive increases.
At the new rate, the indicated dividend on an annual basis is $5.20 per share compared to the previous rate of $4.96 per share. The next quarterly dividend is payable on June 10, 2025 to shareholders of record at the close of business on May 27, 2025. The ex-dividend date is May 27, 2025.
About Johnson & Johnson
At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow, and profoundly impact health for humanity. Learn more at https://www.jnj.com/.