Johnson & Johnson 8-K, filed Jul 20, 2023

Johnson & Johnson (JNJ)

8-K 2023-07-20 For: 2023-07-20

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Added on April 02, 2026

About this 8-K

Johnson & Johnson filed this 8-K on July 20, 2023.

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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New Jersey	1-3215	22-1024240
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)


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
0.650% Notes Due May 2024	JNJ24C	New York Stock Exchange
5.50% Notes Due November 2024	JNJ24BP	New York Stock Exchange
1.150% Notes Due November 2028	JNJ28	New York Stock Exchange
1.650% Notes Due May 2035	JNJ35	New York Stock Exchange


Exhibit No.			Description of Exhibit
99.1			Press Release dated July 20 , 2023 for the period ended July 2 , 2023
99.2			Unaudited Comparative Supplementary Sales Data and Condensed Consolidated Statement of Earnings for the fiscal second quarter and six months
104			The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.


Regulatory	Janssen Marks First Approval Worldwide for AKEEGA (Niraparib and Abiraterone Acetate Dual Action Tablet) with EC Authorisation for the Treatment of Patients with Metastatic Castration Resistant Prostate Cancer with BRCA1/2 Mutations	Press Release
	Milvexian Granted U.S. FDA Fast Track Designation for All Three Indications Under Evaluation in Phase 3 Librexia Program: Ischemic Stroke, Acute Coronary Syndrome and Atrial Fibrillation	Press Release
	Janssen Submits New Drug Application to U.S. FDA Seeking Approval of Investigational Single Tablet Combination Therapy of Macitentan and Tadalafil for Treatment of Patients with Pulmonary Arterial Hypertension (PAH)	Press Release
	Janssen Submits Supplemental Biologics License Application to U.S. FDA Seeking Approval of CARVYKTI for the Earlier Treatment of Patients with Relapsed or Refractory Multiple Myeloma	Press Release
Data Release	Janssen Reports First Results from Phase 2 SunRISe-1 Study of TAR-200 and Anti-PD-1 Antibody Cetrelimab in Patients with Bacillus Calmette-Guérin-Unresponsive Non-Muscle-Invasive Bladder Cancer	Press Release
	First Phase 3 TREMFYA (guselkumab) Data in Inflammatory Bowel Disease Show Positive Induction Results Among Patients with Moderately to Severely Active Ulcerative Colitis	Press Release
	New Data Published on Biosense Webster QDOT MICRO Catheter – the Latest Advancement in Focal RF Ablation for Treating AFib	Press Release
	Janssen to Highlight Scientific Advances and Commitment to Transform Cancer Care at ASCO and EHA with More than 90 Presentations Showcasing Robust, Differentiated Portfolio and Pipeline in Hematologic Malignancies and Solid Tumors	Press Release
	New Phase 2 Data Demonstrate Potential Benefit of Nipocalimab for Pregnant Individuals at High Risk of Early-Onset Severe Hemolytic Disease of the Fetus and Newborn (HDFN)	Press Release
	Janssen Announces Positive Topline Results for JNJ-2113—a Novel, First and Only Oral IL-23 Receptor Antagonist Peptide in Development for Moderate-to-Severe Plaque Psoriasis1	Press Release
	Treatment with RYBREVANT (amivantamab-vmjw) Plus Chemotherapy Resulted in Statistically Significant and Clinically Meaningful Improvement in Progression-Free Survival in Patients with Newly Diagnosed EGFR Exon 20 Insertion Mutation-Positive Non-Small Cell Lung Cancer1	Press Release
Other	Johnson & Johnson Announces Launch of Kenvue Inc. IPO Roadshow	Press Release
	Janssen Enters Worldwide Collaboration and License Agreement with Cellular Biomedicine Group to Develop Next Generation CAR-T Therapies	Press Release


($ in Billions, except EPS)	July 2023	April 2023
Adjusted Operational Sales1,2,5 Change vs. Prior Year / Mid-point	6.0% – 7.0% / 6.5%	4.5% – 5.5% / 5.0%
Operational Sales2,5/ Mid-point Change vs. Prior Year / Mid-point	$99.3B – $100.3B / $99.8B 7.0% – 8.0% / 7.5%	$97.9B – $98.9B / $98.4B 5.5% – 6.5% / 6.0%
Estimated Reported Sales3,5/ Mid-point Change vs. Prior Year / Mid-point	$98.8B – $99.8B / $99.3B 6.5% – 7.5% / 7.0%	$97.9B – $98.9B / $98.4B 5.5% – 6.5% / 6.0%

Adjusted Operational EPS (Diluted)2,4/ Mid-point Change vs. Prior Year / Mid-point	$10.60 – $10.70 / $10.65 4.5% – 5.5% / 5.0%	$10.50 – $10.60 / $10.55 3.5% – 4.5% / 4.0%
Adjusted EPS (Diluted)3,4 / Mid-point Change vs. Prior Year / Mid-point	$10.70 – $10.80 / $10.75 5.5% – 6.5% / 6.0%	$10.60 – $10.70 / $10.65 4.5% – 5.5% / 5.0%


Press Contacts:						Investor Contacts:
Tesia Williams						Jessica Moore
media-relations@its.jnj.com						investor-relations@its.jnj.com


Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	SECOND QUARTER
				Percent Change
	2023		2022	Total		Operations	Currency
Sales to customers by
geographic area

U.S.	$	13,444	12,197	10.2	%	10.2	—

Europe	5,894		6,085	(3.1)		(3.9)	0.8
Western Hemisphere excluding U.S.	1,713		1,536	11.5		17.7	(6.2)
Asia-Pacific, Africa	4,479		4,202	6.6		12.5	(5.9)
International	12,086		11,823	2.2		4.7	(2.5)

Worldwide	$	25,530	24,020	6.3	%	7.5	(1.2)


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

	2023				2022				Percent
				Percent				Percent	Increase
	Amount			to Sales	Amount			to Sales	(Decrease)
Sales to customers	$	25,530		100.0	$	24,020		100.0	6.3
Cost of products sold	8,212			32.2	7,919			33.0	3.7
Gross Profit	17,318			67.8	16,101			67.0	7.6
Selling, marketing and administrative expenses	6,665			26.1	6,226			25.9	7.1
Research and development expense	3,829			15.0	3,703			15.4	3.4
Interest (income) expense, net	(23)			(0.1)	(26)			(0.1)
Other (income) expense, net*	(60)			(0.2)	273			1.1
Restructuring	145			0.5	85			0.4
Earnings before provision for taxes on income	6,762			26.5	5,840			24.3	15.8
Provision for taxes on income	1,618			6.4	1,026			4.3	57.7
Net earnings	$	5,144		20.1	$	4,814		20.0	6.9

Net earnings per share (Diluted)	$	1.96			$	1.80			8.9

Average shares outstanding (Diluted)	2,625.7				2,667.9

Effective tax rate	23.9		%		17.6		%

Adjusted earnings before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income	$	8,824		34.6	$	8,171		34.0	8.0
Net earnings	$	7,358		28.8	$	6,912		28.8	6.5
Net earnings per share (Diluted)	$	2.80			$	2.59			8.1
Effective tax rate	16.6		%		15.4		%

* Fiscal second quarter Other (income) expense, net includes $37 million related to the Company's 10.4% non-controlling interest in Kenvue, Inc. from the time of the initial public offering on May 8, 2023 through the end of the fiscal second quarter.

(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

		Second Quarter
	(Dollars in Millions Except Per Share Data)	2023		2022
	Net Earnings, after tax- as reported	$	5,144	$	4,814

	Pre-tax Adjustments
	Litigation related	137		385
	Intangible Asset Amortization expense	1,211		1,095
	COVID-19 Vaccine related costs 1	165		276
	Consumer Health separation costs	282		268
	Restructuring related 2	145		128
	Medical Device Regulation 3	85		70
	Acquisition, integration and divestiture related	38		-
	(Gains)/losses on securities	(1)		109

	Tax Adjustments
	Tax impact on special item adjustments 4	(373)		(313)
	Consumer Health separation tax related costs	546		2
	Tax legislation and other tax related	(21)		78
	Adjusted Net Earnings, after tax	$	7,358	$	6,912
	Average shares outstanding (Diluted)	2,625.7		2,667.9
	Adjusted net earnings per share (Diluted)	$	2.80	$	2.59
	Operational adjusted net earnings per share (Diluted)	$	2.84

	Notes:
1	COVID-19 Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's completion of its COVID-19 vaccine contractual commitments.
2	In the first and second quarter of 2023, the company completed a prioritization of its research and development (R&D) investment within the Pharmaceutical 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 $145 million in the quarter ($275 million Q2 YTD) include the termination of partnered and non-partnered program costs and asset impairments.
3	European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company’s previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices were required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations. The Company has excluded only external third-party regulatory and consulting costs from its MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance which is expected to be completed during 2024.
4	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 Measures

		Six Months Ended
	(Dollars in Millions Except Per Share Data)	2023		2022
	Net Earnings, after tax- as reported	$	5,076	$	9,963

	Pre-tax Adjustments
	Litigation related	7,037		385
	Intangible Asset Amortization expense	2,415		2,203
	COVID-19 Vaccine related costs 1	609		276
	Consumer Health separation costs	582		370
	Restructuring related 2	275		200
	Medical Device Regulation 3	149		130
	Acquisition, integration and divestiture related	80		-
	(Gains)/losses on securities	71		520
	IPR&D	49		610
	Other	-		(7)

	Tax Adjustments
	Tax impact on special item adjustments 4	(2,430)		(706)
	Consumer Health separation tax related costs	557		98
	Tax legislation and other tax related	(44)		(1)
	Adjusted Net Earnings, after tax	$	14,426	$	14,041
	Average shares outstanding (Diluted)	2,630.7		2,669.2
	Adjusted net earnings per share (Diluted)	$	5.48	$	5.26
	Operational adjusted net earnings per share (Diluted)	$	5.59

	Notes:
1	COVID-19 Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's completion of its COVID-19 vaccine contractual commitments.
2	In the first and second quarter of 2023, the company completed a prioritization of its research and development (R&D) investment within the Pharmaceutical 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 $145 million in the quarter ($275 million Q2 YTD) include the termination of partnered and non-partnered program costs and asset impairments.
3	European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company’s previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices were required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations. The Company has excluded only external third-party regulatory and consulting costs from its MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance which is expected to be completed during 2024.
4	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 (A)
SECOND QUARTER 2023 ACTUAL vs. 2022 ACTUAL

Segments
	Consumer Health		Pharmaceutical		MedTech		Total
WW As Reported	5.4	%	3.1	%	12.9	%	6.3	%
U.S.	6.0	%	9.2	%	14.6	%	10.2	%
International	5.0	%	(4.0)	%	11.3	%	2.2	%

WW Currency	(2.3)		(0.7)		(1.8)		(1.2)
U.S.	—		—		—		—
International	(4.0)		(1.5)		(3.4)		(2.5)

WW Operational	7.7	%	3.8	%	14.7	%	7.5	%
U.S.	6.0	%	9.2	%	14.6	%	10.2	%
International	9.0	%	(2.5)	%	14.7	%	4.7	%

Abiomed					(4.8)		(1.4)
U.S.					(8.1)		(2.2)
International					(1.7)		(0.5)

All Other Acquisitions and Divestitures	0.0		0.1		0.0		0.1
U.S.	0.0		0.0		0.0		0.0
International	0.0		0.3		0.0		0.2

WW Adjusted Operational	7.7	%	3.9	%	9.9	%	6.2	%
U.S.	6.0	%	9.2	%	6.5	%	8.0	%
International	9.0	%	(2.2)	%	13.0	%	4.4	%

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)


		SECOND QUARTER
				% Change
		2023	2022	Reported		Operational (1)		Currency
CONSUMER HEALTH SEGMENT (2)

OTC
US	$	712	663	7.5	%	7.5	%	—	%
Intl		947	818	15.7		19.0		(3.3)
WW		1,659	1,482	12.0		13.9		(1.9)

SKIN HEALTH / BEAUTY
US		650	629	3.4		3.4		—
Intl		498	497	0.3		3.8		(3.5)
WW		1,148	1,126	2.0		3.5		(1.5)

ORAL CARE
US		173	170	1.7		1.7		—
Intl		225	224	0.3		3.4		(3.1)
WW		398	394	0.9		2.7		(1.8)

BABY CARE
US		99	88	12.5		12.5		—
Intl		261	287	(9.1)		(4.0)		(5.1)
WW		360	375	(4.0)		(0.2)		(3.8)

WOMEN'S HEALTH
US		4	3	(2.1)		(2.1)		—
Intl		235	228	3.5		10.2		(6.7)
WW		238	230	3.4		10.0		(6.6)

WOUND CARE / OTHER
US		149	133	12.3		12.3		—
Intl		58	65	(10.3)		(4.6)		(5.7)
WW		207	197	4.9		6.8		(1.9)

TOTAL CONSUMER HEALTH
US		1,787	1,687	6.0		6.0		—
Intl		2,224	2,118	5.0		9.0		(4.0)
WW	$	4,011	3,805	5.4	%	7.7	%	(2.3)	%

See footnotes at end of schedule


Supplemental Sales Reconciliation (Unaudited)
(Dollars in Millions)

		SECOND QUARTER
					Percent Change
		2023		2022	Total		Operations	Currency

	Pharmaceutical
	U.S.	$	7,818	7,159	9.2	%	9.2	-
	International	5,913		6,158	(4.0)		(2.5)	(1.5)
	Worldwide	13,731		13,317	3.1		3.8	(0.7)

	COVID-19 Vaccine
	U.S.	-		45	*		*	-
	International	285		499	(43.0)		(47.4)	4.4
	Worldwide	285		544	(47.7)		(51.8)	4.1

	Pharmaceutical excluding COVID-19 Vaccine
	U.S.	7,818		7,114	9.9		9.9	-
	International	5,628		5,659	(0.5)		1.5	(2.0)
	Worldwide	13,446		12,773	5.3		6.2	(0.9)

	Worldwide
	U.S.	13,444		12,197	10.2		10.2	-
	International	12,086		11,823	2.2		4.7	(2.5)
	Worldwide	25,530		24,020	6.3		7.5	(1.2)

	COVID-19 Vaccine
	U.S.	-		45	*		*	-
	International	285		499	(43.0)		(47.4)	4.4
	Worldwide	285		544	(47.7)		(51.8)	4.1

	Worldwide
	U.S.	13,444		12,152	10.6		10.6	-
	International	11,801		11,324	4.2		7.0	(2.8)
	Worldwide excluding COVID-19 Vaccine	$	25,245	23,476	7.5	%	8.9	(1.4)


	Note: Columns and rows within tables may not add due to rounding

	* Percentage greater than 100% or not meaningful


Supplemental Sales Reconciliation (Unaudited)
(Dollars in Millions)

		SIX MONTHS
					Percent Change
		2022		2021	Total		Operations	Currency

	Pharmaceutical
	U.S.	$	14,841	13,791	7.6	%	7.6	-
	International	12,303		12,395	(0.7)		3.1	(3.8)
	Worldwide	27,144		26,186	3.7		5.5	(1.8)

	COVID-19 Vaccine
	U.S.	-		120	*		*	-
	International	1,032		881	17.1		18.4	(1.3)
	Worldwide	1,032		1,001	3.0		4.2	(1.2)

	Pharmaceutical excluding COVID-19 Vaccine
	U.S.	14,841		13,671	8.6		8.6	-
	International	11,271		11,514	(2.1)		1.9	(4.0)
	Worldwide	26,112		25,185	3.7		5.5	(1.8)

	Worldwide
	U.S.	25,961		23,611	10.0		10.0	-
	International	24,315		23,835	2.0		6.5	(4.5)
	Worldwide	50,276		47,446	6.0		8.2	(2.2)

	COVID-19 Vaccine
	U.S.	-		120	*		*	-
	International	1,032		881	17.1		18.4	(1.3)
	Worldwide	1,032		1,001	3.0		4.2	(1.2)

	Worldwide
	U.S.	25,961		23,491	10.5		10.5	-
	International	23,283		22,954	1.4		6.1	(4.7)
	Worldwide excluding COVID-19 Vaccine	$	49,244	46,445	6.0	%	8.3	(2.3)


	Note: Columns and rows within tables may not add due to rounding

	* Percentage greater than 100% or not meaningful


Johnson & Johnson
Segment Sales
(Dollars in Millions)

		SECOND QUARTER
				% Change
		2023	2022	Reported		Operational (1)		Currency
PHARMACEUTICAL SEGMENT (2) (3)

IMMUNOLOGY
US	$	2,865	2,853	0.4	%	0.4	%	—	%
Intl		1,631	1,559	4.7		6.6		(1.9)
WW		4,496	4,411	1.9		2.6		(0.7)
REMICADE
US		277	391	(29.3)		(29.3)		—
US Exports (4)		33	44	(24.9)		(24.9)		—
Intl		152	212	(28.2)		(25.2)		(3.0)
WW		462	647	(28.6)		(27.6)		(1.0)
SIMPONI / SIMPONI ARIA
US		285	301	(5.1)		(5.1)		—
Intl		244	266	(8.2)		(4.3)		(3.9)
WW		529	566	(6.6)		(4.7)		(1.9)
STELARA
US		1,817	1,731	4.9		4.9		—
Intl		981	868	13.0		14.1		(1.1)
WW		2,797	2,599	7.6		8.0		(0.4)
TREMFYA
US		450	382	17.8		17.8		—
Intl		255	214	19.4		21.0		(1.6)
WW		706	597	18.3		18.9		(0.6)
OTHER IMMUNOLOGY
US		4	3	17.8		17.8		—
Intl		0	0	—		—		—
WW		4	3	17.8		17.8		—

INFECTIOUS DISEASES
US		395	415	(4.9)		(4.9)		—
Intl		727	901	(19.4)		(22.0)		2.6
WW		1,121	1,316	(14.8)		(16.6)		1.8


Johnson & Johnson
Segment Sales
(Dollars in Millions)

		SECOND QUARTER
				% Change
		2023	2022	Reported	Operational (1)	Currency
PHARMACEUTICAL SEGMENT (2) (3) (Continued)

NEUROSCIENCE
US	$	1,029	896	14.9%	14.9%	—%
Intl		764	837	(8.8)	(4.6)	(4.2)
WW		1,793	1,734	3.5	5.5	(2.0)
CONCERTA / methylphenidate
US		64	38	68.2	68.2	—
Intl		143	123	16.3	21.3	(5.0)
WW		208	161	28.6	32.4	(3.8)
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US		721	691	4.3	4.3	—
Intl		310	362	(14.4)	(12.6)	(1.8)
WW		1,031	1,054	(2.1)	(1.5)	(0.6)
SPRAVATO
US		144	74	93.2	93.2	—
Intl		25	11	*	*	*
WW		169	85	98.2	98.5	(0.3)
OTHER NEUROSCIENCE
US		100	93	9.3	9.3	—
Intl		286	341	(16.4)	(9.9)	(6.5)
WW		386	433	(10.9)	(5.8)	(5.1)

ONCOLOGY
US		2,069	1,679	23.2	23.2	—
Intl		2,329	2,362	(1.4)	0.1	(1.5)
WW		4,398	4,042	8.8	9.7	(0.9)
CARVYKTI
US		114	24	*	*	—
Intl		3	—	*	*	*
WW		117	24	*	*	*


Johnson & Johnson
Segment Sales
(Dollars in Millions)

		SECOND QUARTER
				% Change
		2023	2022	Reported		Operational (1)		Currency
MEDTECH SEGMENT (2) (3)

INTERVENTIONAL SOLUTIONS
US	$	908	525	73.1	%	73.1	%	—	%
Intl		712	525	35.7		40.7		(5.0)
WW		1,620	1,049	54.4		56.9		(2.5)

ELECTROPHYSIOLOGY
US		609	499	22.0		22.0		—
Intl		587	469	25.1		30.0		(4.9)
WW		1,196	968	23.5		25.9		(2.4)

ABIOMED
US		272	—	*		*		—
Intl		59	—	*		*		*
WW		331	—	*		*		*

OTHER INTERVENTIONAL SOLUTIONS
US		27	26	4.5		4.5		—
Intl		67	56	20.0		25.3		(5.3)
WW		93	81	15.1		18.8		(3.7)

ORTHOPAEDICS
US		1,388	1,338	3.7		3.7		—
Intl		878	820	7.0		9.0		(2.0)
WW		2,265	2,157	5.0		5.7		(0.7)

HIPS
US		250	240	4.1		4.1		—
Intl		147	148	(0.8)		1.2		(2.0)
WW		397	388	2.2		3.0		(0.8)


Johnson & Johnson
Segment Sales
(Dollars in Millions)

		SECOND QUARTER
				% Change
		2023	2022	Reported		Operational (1)		Currency
MEDTECH SEGMENT (2) (3) (Continued)

SURGERY
US	$	1,015	992	2.2	%	2.2	%	—	%
Intl		1,580	1,458	8.4		12.6		(4.2)
WW		2,594	2,450	5.9		8.4		(2.5)

ADVANCED
US		466	454	2.7		2.7		—
Intl		757	702	7.8		12.1		(4.3)
WW		1,222	1,156	5.8		8.4		(2.6)

GENERAL
US		548	538	1.9		1.9		—
Intl		823	756	8.9		13.1		(4.2)
WW		1,372	1,294	6.0		8.4		(2.4)

VISION
US		529	496	6.6		6.6		—
Intl		778	745	4.6		7.1		(2.5)
WW		1,308	1,241	5.4		6.9		(1.5)

CONTACT LENSES / OTHER
US		409	374	9.1		9.1		—
Intl		530	519	2.2		4.8		(2.6)
WW		939	894	5.1		6.6		(1.5)
SURGICAL
US		120	122	(1.1)		(1.1)		—
Intl		249	225	10.1		12.3		(2.2)
WW		369	347	6.2		7.6		(1.4)

TOTAL MEDTECH