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8-K - JOHNSON & JOHNSON | eightkthirdquarter2009.htm |
EX-99.2O OTH FIN ST - JOHNSON & JOHNSON | exhibi99203q2009.htm |
Exhibit 99.15
Johnson
& Johnson Reports 2009 Third-Quarter Results:
Sales
of $15.1 Billion Decreased 5.3% Versus 2008 Third Quarter
EPS
of $1.20 increased 2.6% Versus 2008 Third Quarter
New
Brunswick, NJ (October 13, 2009) – Johnson & Johnson today announced sales
of $15.1 billion for the third quarter of 2009, a decrease of 5.3% as compared
to the third quarter of 2008. Operational results declined 2.8% and the negative
impact of currency was 2.5%. Domestic sales declined 8.1%, while
international sales declined 2.5%, reflecting operational growth of 2.4% and a
negative currency impact of 4.9%.
Net
earnings and diluted earnings per share for the third quarter of 2009 were $3.3
billion and $1.20, respectively, representing increases of 1.1% and 2.6%, as
compared to the same period in 2008. The Company raised its earnings
guidance for full-year 2009 to $4.54 - $4.59 per share, which excludes the
impact of special items.
“We
continue to successfully manage our broad base of businesses and deliver solid
earnings despite the impact of patent expirations and the challenges posed by
the current economic environment,” said William C. Weldon, Chairman and Chief
Executive Officer. “We completed multiple acquisitions and strategic
collaborations and received several new product approvals in the quarter that
will benefit patients worldwide and drive future growth.”
Worldwide
Consumer sales of $4.0 billion for the third quarter represented a decrease of
2.7% versus the prior year with an increase of 1.1% operationally and a negative
impact from currency of 3.8%. Domestic sales decreased 4.4%; international sales
decreased 1.4%, which reflected an operational increase of 5.2% and a negative
currency impact of 6.6%.
Contributing
to operational sales growth during the quarter were sales of Dabao skin care
products; AVEENO® skin care products; SPLENDA® No Calorie Sweetener; Le Petit
Marseillais® beauty care products; and LISTERINE® antiseptic mouthrinse.
Other growth drivers were sales from the acquisition of Vania Expansion
SNC.
Worldwide
Pharmaceutical sales of $5.3 billion for the third quarter represented a
decrease of 14.1% versus the prior year with an operational decline
of 11.9% and a negative impact from currency of 2.2%. Domestic sales decreased
19.2%; international sales decreased 7.1%, which reflected an operational
decrease of 1.9% and a negative currency impact of 5.2%.
REMICADE®
(infliximab), a biologic approved for the treatment of a number of immune
mediated inflammatory diseases, demonstrated solid sales performance during the
quarter. Several other pharmaceutical products had strong growth
including PREZISTA®
(darunavir), a treatment for HIV; VELCADE® (bortezomib), a treatment
for multiple myeloma; and RISPERDAL® CONSTA® (risperidone) Long-Acting
Treatment, an antipsychotic medication. Sales results of TOPAMAX® (topiramate),
an antiepileptic and a treatment for migraine, and RISPERDAL® (risperidone), an
antipsychotic medication, were negatively impacted by generic
competition.
During
the quarter, the U.S. Food and Drug Administration (FDA) approved STELARATM
(ustekinumab) for the treatment of adult patients (18 years or older)
with moderate to severe plaque psoriasis who are candidates for phototherapy or
systemic therapy. The FDA also approved INVEGA® SUSTENNA™
(paliperidone palmitate) extended-release injectable suspension for the acute
and maintenance treatment of schizophrenia in adults; the first once-monthly,
long-acting, injectable atypical antipsychotic approved in the U.S. for this
use. In addition, the FDA approved the Supplemental New Drug Application for
INVEGA® (paliperidone) extended-release tablets for the acute treatment of
schizoaffective disorder either as monotherapy or adjunctive therapy to mood
stabilizers and/or antidepressants.
On Oct.
6, the European Commission approved SIMPONI™ (golimumab) as a once-monthly,
subcutaneous therapy for the treatment of moderate-to-severe, active rheumatoid
arthritis, active and progressive psoriatic arthritis and severe, active
ankylosing spondylitis.
During
the quarter, the Company completed the acquisition of substantially all of the
assets and rights of Elan related to its Alzheimer's Immunotherapy Program as
well as an equity investment in Elan. Additionally, the Company announced that
it had entered into a licensing and collaboration agreement with Gilead
Sciences, Inc., for the development and commercialization of a new fixed dose
combination of investigational compound TMC278 (rilpivirine hydrochloride 25 mg)
and Gilead’s TRUVADA® (emtricitabine 200 mg/tenofovir disoproxil fumarate 300
mg) for treatment-naïve adult patients with HIV-1.
Early in
the fourth quarter, the Company announced that it had entered into a strategic
collaboration with Crucell, N.V., focusing on the discovery, development and
commercialization of monoclonal antibodies and vaccines for the treatment and
prevention of influenza and other infectious and non-infectious diseases. The
agreement also included an 18% equity investment in Crucell, N.V.
Worldwide
Medical Devices and Diagnostics sales of $5.8 billion for the third quarter
represented an increase of 2.3% versus the prior year with an operational
increase of 4.1% and a negative currency impact of 1.8%. Domestic sales
increased 4.5%; international sales increased 0.5%, which reflected an
operational increase of 3.8% and a negative currency impact of
3.3%.
Primary
contributors to the operational growth included Ethicon’s surgical
care and aesthetics products; Ethicon Endo-Surgery’s minimally
invasive products; DePuy’s orthopaedic joint reconstruction, spine, and sports
medicine businesses; and Ortho-Clinical Diagnostics’ professional products. This
growth was partially offset by lower sales in the Cordis franchise, reflecting
strong competition in the drug-eluting stent market, and the 2008 divestiture of
the Professional Wound Care products in our Ethicon business.
About Johnson &
Johnson
Caring
for the world, one person at a time…inspires and unites the people of Johnson
& Johnson. We embrace research and science - bringing innovative ideas,
products and services to advance the health and well-being of people. Our
approximately 117,000 employees at more than 250 Johnson & Johnson companies
work with partners in health care to touch the lives of over a billion people
every day, throughout the world.
NOTE TO
INVESTORS
Johnson
& Johnson will conduct a meeting with financial analysts to discuss this
news release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the
meeting for investors and other interested parties may be accessed by visiting
the Johnson & Johnson website at www.investor.jnj.com.
A replay and podcast will be available approximately two hours after
the live
webcast by visiting www.investor.jnj.com.
Copies of
the financial schedules accompanying this press release are available at www.investor.jnj.com/historical-sales.cfm.
The schedules include supplementary sales data, a condensed consolidated
statement of earnings, and sales of key products/franchises. Additional
information on Johnson & Johnson can be found on the Company’s website at
www.jnj.com.
(This
press release contains "forward-looking statements" as defined in the Private
Securities Litigation Reform Act of 1995. These statements are based on current
expectations of future events. If underlying assumptions prove inaccurate or
unknown risks or uncertainties materialize, actual results could vary materially
from Johnson & Johnson's expectations and projections. Risks and
uncertainties include general industry conditions and competition; economic
conditions, such as interest rate and currency exchange rate fluctuations;
technological advances and patents attained by competitors; challenges inherent
in new product development, including obtaining regulatory approvals; domestic
and foreign health care reforms and governmental laws and regulations; and
trends toward health care cost containment. A further list and description of
these risks, uncertainties and other factors can be found in Exhibit 99 of the
Company's Annual Report on Form 10-K for the fiscal year ended December 28,
2008. Copies of this Form 10-K, as well as subsequent filings, are available
online at www.sec.gov, www.jnj.com or on request
from Johnson & Johnson. Johnson & Johnson does not undertake to update
any forward-looking statements as a result of new information or future events
or developments.)