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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): 
October 15, 2024
Johnson & Johnson
(Exact name of registrant as specified in its charter)
New Jersey 1-3215 22-1024240
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
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
5.50% Notes Due November 2024 JNJ24BP New York Stock Exchange
1.150% Notes Due November 2028 JNJ28 New York Stock Exchange
3.20% Notes Due November 2032 JNJ32 New York Stock Exchange
1.650% Notes Due May 2035 JNJ35 New York Stock Exchange
3.350% Notes Due November 2036 JNJ36A New York Stock Exchange
3.550% Notes Due November 2044 JNJ44 New York Stock Exchange



Item 2.02 Results of operations and financial condition
On October 15, 2024, Johnson & Johnson issued the attached press release (Exhibit 99.1) announcing its sales and earnings for the third quarter ended September 29, 2024.
Item 9.01 Financial statements and exhibits
(d)    Exhibits.
Exhibit No. Description of Exhibit
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: October 15, 2024
JOHNSON & JOHNSON
(Registrant)
By:
/s/ Robert J. Decker, Jr.
Robert J. Decker, Jr.
Controller
(Principal Accounting Officer)

EX-99.1 2 a2024q3exhibit991.htm EX-99.1 Document

Exhibit 99.1
Media contact:
media-relations@its.jnj.com
Investor contact:
investor-relations@its.jnj.com
image_0a.jpg
image_1a.jpg
Johnson & Johnson reports Q3 2024 results
•2024 Third-Quarter reported sales growth of 5.2% to $22.5 Billion with operational growth of 6.3%* and adjusted operational growth of 5.4%*
•2024 Third-Quarter Earnings per share (EPS) of $1.11 decreasing by 34.3% due to a one-time special charge and acquired IPR&D. Adjusted EPS of $2.42 decreasing by 9.0%* with acquired IPR&D impacting results approximately 1,900 basis points
•Significant pipeline progress including approvals of TREMFYA in ulcerative colitis, RYBREVANT + LAZCLUZE in non-small cell lung cancer, and submission of an investigational device exemption for our general surgery robotic system, OTTAVA
•Company increases Full-Year 2024 operational sales5 guidance
•Company updates Full-Year 2024 adjusted operational EPS guidance to reflect improved performance and the acquisition of V-Wave; costs associated with the acquisition of V-Wave more than offset the improvement

New Brunswick, N.J. (October 15, 2024) – Johnson & Johnson (NYSE: JNJ) today announced results for third-quarter 2024. “Johnson & Johnson’s strong results in the third quarter reflect the unique breadth of our business and commitment to delivering the next wave of healthcare innovation,” said Joaquin Duato, Chairman and Chief Executive Officer. “During the quarter, we advanced our pipeline with regulatory approvals for TREMFYA and RYBREVANT, submitted an IDE for our general surgery robotic system, OTTAVA, and launched VELYS Spine and Shockwave E8 IVL Catheter, further strengthening our confidence in our near-and long-term growth targets.”
Unless otherwise noted, the financial results and earnings guidance included below reflect the continuing operations of Johnson & Johnson.

Overall financial results
Q3
($ in Millions, except EPS) 2024 2023 % Change
Reported Sales
$22,471
$21,351
5.2%
Net Earnings
 $2,694

$4,309
(37.5)%
EPS (diluted)
 $1.11

$1.69
 (34.3)%
Q3
Non-GAAP* ($ in Millions, except EPS) 2024 2023 % Change
Operational Sales1,2
6.3%
Adjusted Operational Sales1,3
5.4%
Adjusted Operational Sales ex. COVID-19 Vaccine1,3


5.6%
Adjusted Net Earnings1,4
$5,876
$6,777
(13.3)%
Adjusted EPS (diluted)1,4
$2.42
$2.66
(9.0)%
Free Cash Flow (YTD)6,7
~$14,000
$11,974





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.
7Q3 YTD 2024 is estimated as of October 15, 2024. Q3 YTD 2023 includes approximately 8 months contribution from the Consumer Health segment.
Note: values may have been rounded

Regional sales results
Q3 % Change
($ in Millions) 2024 2023 Reported
Operational1,2
Currency
Adjusted
Operational1,3
U.S.
$12,909
$11,996
7.6%
7.6
-
6.5
International
9,562
9,355
2.2
4.6
(2.4)
4.0
Worldwide
$22,471
$21,351
5.2%
6.3
(1.1)
5.4
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
Q3 % Change
($ in Millions) 2024 2023 Reported
Operational1,2
Currency
Adjusted
Operational1,3
Innovative Medicine
$14,580
$13,893
4.9%
6.3
(1.4)
6.4
MedTech
7,891
7,458
5.8
6.4
(0.6)
3.7
Worldwide
$22,471
$21,351
5.2%
6.3
(1.1)
5.4
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








Third Quarter 2024 segment commentary:
Operational sales* reflected below excludes the impact of translational currency.
Innovative Medicine
Innovative Medicine worldwide operational sales grew 6.3%. Growth was driven by DARZALEX (daratumumab), ERLEADA (apalutamide), Other Oncology, and CARVYKTI (ciltacabtagene autoleucel) in Oncology, TREMFYA (guselkumab) in Immunology, SPRAVATO (esketamine) in Neuroscience, and OPSUMIT (macitentan) in Pulmonary Hypertension. Growth was partially offset by STELARA (ustekinumab) and SIMPONI/SIMPONI ARIA (golimumab) in Immunology.

MedTech
MedTech worldwide operational sales grew 6.4%*, with net acquisitions and divestitures positively impacting growth by 2.7%. Operational sales growth was driven primarily by electrophysiology products and Abiomed in Cardiovascular, previously referred to as Interventional Solutions, contact lenses in Vision and wound closure products in General Surgery. Growth was partially offset by endocutter products in Advanced Surgery.

Full-year 2024 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.
Johnson & Johnson is updating its 2024 guidance, including adjusted operational EPS guidance, to reflect improved performance and the impact from the recent acquisition of V-Wave.

Non-GAAP* 2024
July 2024 Adjusted Operational EPS1,2
$10.05
Improved performance outlook $0.10
October 2024 Adjusted Operational EPS1,2 pre-M&A
$10.15
M&A impact (V-Wave) ($0.24)
October 2024 Adjusted Operational EPS1,2
$9.91
1Non-GAAP financial measure; excludes the impact of translational currency
2Non-GAAP financial measure; excludes intangible amortization expense and special items
Note: Adjusted operational EPS figures reflect midpoint of issued guidance








($ in Billions, except EPS) October 2024 July 2024
Adjusted Operational Sales1,2,5
Change vs. Prior Year / Mid-point
5.7% – 6.2% / 6.0% 5.5% – 6.0% / 5.8%
Operational Sales2,5/ Mid-point
Change vs. Prior Year / Mid-point
$89.4B – $89.8B / $89.6B
6.3% – 6.8% / 6.6%
$89.2B – $89.6B / $89.4B
6.1% – 6.6% / 6.4%
Estimated Reported Sales3,5/ Mid-point
Change vs. Prior Year / Mid-point
$88.4B – $88.8B / $88.6B
5.1% – 5.6% / 5.4%
$88.0B – $88.4B / $88.2B
4.7% – 5.2% / 5.0%
Adjusted Operational EPS (Diluted)2,4/ Mid-point
Change vs. Prior Year / Mid-point
$9.86 – $9.96 / $9.91
(0.6)% – 0.4% / (0.1)%
$10.00 – $10.10 / $10.05
0.8% – 1.8% / 1.3%
Adjusted EPS (Diluted)3,4 / Mid-point
Change vs. Prior Year / Mid-point
$9.88 – $9.98 / $9.93
(0.4)% – 0.6% / 0.1%
$9.97 – $10.07 / $10.02
0.5% – 1.5% / 1.0%

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: October 2024 = $1.09 and July 2024 = $1.08 (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
Johnson & Johnson submits application to the European Medicines Agency for DARZALEX (daratumumab) SC-based quadruplet regimen for newly diagnosed multiple myeloma patients1
Press Release
Johnson & Johnson files for U.S. FDA approval of DARZALEX FASPRO-based quadruplet regimen for newly diagnosed multiple myeloma patients for whom transplant is not planned
Press Release
DARZALEX (daratumumab)-based quadruplet regimen receives positive CHMP opinion for transplant-eligible patients with newly diagnosed multiple myeloma
Press Release
RYBREVANT (amivantamab-vmjw) plus standard of care approved in the U.S. as first and only targeted regimen to cut risk of disease progression by more than half in second-line EGFR-mutated advanced lung cancer
Press Release
Johnson & Johnson seeks first EU approval of nipocalimab to treat a broad population of patients living with antibody-positive generalised myasthenia gravis
Press Release
TREMFYA (guselkumab) receives U.S. FDA approval for adults with moderately to severely active ulcerative colitis, strengthening Johnson & Johnson's leadership in inflammatory bowel disease
Press Release



Johnson & Johnson seeks first approval of nipocalimab to treat broadest population living with antibody positive generalized myasthenia gravis
Press Release
European Commission approves RYBREVANT (amivantamab) in combination with chemotherapy for the treatment of adult patients with advanced EGFR-mutated non-small cell lung cancer after failure of prior therapy
Press Release
European Commission approves BALVERSA (erdafitinib) for adult patients with unresectable or metastatic urothelial carcinoma
Press Release
RYBREVANT (amivantamab-vmjw) plus LAZCLUZE (lazertinib) approved in the U.S. as a first-line chemotherapy-free treatment for patients with EGFR-mutated advanced lung cancer
Press Release
DARZALEX FASPRO (daratumumab and hyaluronidase-fihj)-based quadruplet regimen approved in the U.S. for patients with newly diagnosed multiple myeloma who are transplant-eligible
Press Release
Johnson & Johnson seeks U.S. FDA approval of SPRAVATO (esketamine) as the first and only monotherapy for adults with treatment-resistant depression
Press Release
Data Releases
TREMFYA (guselkumab) demonstrates impressive results across biologic-naïve and biologic-refractory patients in Crohn's disease and ulcerative colitis1
Press Release
CARVYKTI is the first and only cell therapy to significantly extend overall survival versus standard therapies for patients with multiple myeloma as early as second line
Press Release
DARZALEX (daratumumab)-based maintenance regimens show clinically meaningful deep and durable responses in transplant-eligible patients with newly diagnosed multiple myeloma
Press Release
Novel combination of TALVEY (talquetamab-tgvs) and TECVAYLI (teclistamab-cqyv) suggests high response rates and durable responses in triple-class refractory patients with relapsed or refractory multiple myeloma, including those with extramedullary disease
Press Release
TALVEY (talquetamab-tgvs) and DARZALEX FASPRO (daratumumab and hyaluronidase-fihj) based combination shows deep and durable responses in patients with relapsed or refractory multiple myeloma
Press Release
Johnson & Johnson is transforming solid tumor cancer outcomes with new data at the 2024 World Conference on Lung Cancer and European Society for Medical Oncology Congress
Press Release
Groundbreaking nipocalimab study of pregnant individuals at high risk for early onset severe hemolytic disease of the fetus and newborn published in The New England Journal of Medicine
Press Release
Product Launch
Johnson & Johnson MedTech Launches VOLT Plating System1
Press Release
Johnson & Johnson Rolls Out New TECNIS Odyssey Next-Generation Intraocular Lens Offering Cataract Patients Precise Vision at Every Distance in Any Lighting
Press Release
Shockwave Medical Expands U.S. Peripheral IVL Portfolio with Enhanced Catheter
Press Release
DePuy Synthes Launches its First Active Spine Robotics and Navigation Platform
Press Release



Other
Johnson & Johnson Completes Acquisition of V-Wave1
Press Release
Johnson & Johnson Announces that its Subsidiary, Red River Talc LLC, has Filed a Voluntary Prepackaged Chapter 11 Case to Resolve All Current and Future Ovarian Cancer Talc Claims
Press Release
Johnson & Johnson’s Executive Vice President, Chief Human Resources Officer Peter Fasolo to Retire; Kristen Mulholland Named Chief Human Resources Officer, Effective October 1, 2024
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; 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; increased scrutiny of the health care industry by government agencies; and the Company’s ability to realize the anticipated benefits from the separation of Kenvue Inc. 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 December 31, 2023, 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.


EX-99.2 3 a2024q3exhibit992.htm EX-99.2 Document

Exhibit 99.2
Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions) THIRD QUARTER
Percent Change
Sales to customers by geographic area 2024 2023 Total Operations Currency
U.S. $12,909  11,996  7.6  % 7.6  — 
Europe 4,914  4,727  4.0  3.0  1.0 
Western Hemisphere excluding U.S. 1,173  1,171  0.3  20.3  (20.0)
Asia-Pacific, Africa 3,475  3,457  0.5  1.5  (1.0)
International 9,562  9,355  2.2  4.6  (2.4)
Worldwide $22,471  21,351  5.2  % 6.3  (1.1)


Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions) THIRD QUARTER
Percent Change
Sales to customers by geographic area (ex. COVID-19 Vaccine) 2024 2023 Total Operations Currency
U.S.* $12,909  11,996  7.6  % 7.6  — 
Europe(1)
4,913  4,686  4.8  3.8  1.0 
Western Hemisphere excluding U.S.* 1,173  1,171  0.3  20.3  (20.0)
Asia-Pacific, Africa* 3,475  3,457  0.5  1.5  (1.0)
International 9,561  9,314  2.7  5.1  (2.4)
Worldwide $22,470  21,310  5.4  % 6.5  (1.1)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1) Refer to supplemental sales information schedules
*No COVID-19 Vaccine Sales



Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions) NINE MONTHS
Percent Change
Sales to customers by geographic area 2024 2023 Total Operations Currency
U.S. $37,098  34,435  7.7  % 7.7  — 
Europe 15,291  15,448  (1.0) (0.7) (0.3)
Western Hemisphere excluding U.S. 3,579  3,383  5.8  21.4  (15.6)
Asia-Pacific, Africa 10,333  10,498  (1.6) 2.8  (4.4)
International 29,203  29,329  (0.4) 3.1  (3.5)
Worldwide $66,301  63,764  4.0  % 5.6  (1.6)


Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions) NINE MONTHS
Percent Change
Sales to customers by geographic area (ex. COVID-19 Vaccine) 2024 2023 Total Operations Currency
U.S.* $37,098  34,435  7.7  % 7.7  — 
Europe(1)
15,093  14,375  5.0  5.3  (0.3)
Western Hemisphere excluding U.S.* 3,579  3,383  5.8  21.4  (15.6)
Asia-Pacific, Africa* 10,333  10,498  (1.6) 2.8  (4.4)
International 29,005  28,256  2.7  6.3  (3.6)
Worldwide $66,103  62,691  5.4  % 7.1  (1.7)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1) Refer to supplemental sales information schedules
*No COVID-19 Vaccine Sales



Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions) THIRD QUARTER
Percent Change
Sales to customers by segment of business 2024 2023 Total Operations Currency
Innovative Medicine (1)
U.S. $ 8,871  8,249  7.5  % 7.5  — 
International 5,709  5,644  1.2  4.4  (3.2)
14,580  13,893  4.9  6.3  (1.4)
Innovative Medicine excluding COVID-19 Vaccine (1)
U.S. 8,871  8,249  7.5  7.5  — 
International 5,708  5,603  1.9  5.2  (3.3)
14,579  13,852  5.2  6.6  (1.4)
MedTech
U.S. 4,038  3,747  7.8  7.8  — 
International 3,853  3,711  3.9  5.0  (1.1)
7,891  7,458  5.8  6.4  (0.6)
U.S. 12,909  11,996  7.6  7.6  — 
International 9,562  9,355  2.2  4.6  (2.4)
Worldwide 22,471  21,351  5.2  6.3  (1.1)
U.S. 12,909  11,996  7.6  7.6  — 
International 9,561  9,314  2.7  5.1  (2.4)
Worldwide excluding COVID-19 Vaccine (1)
$ 22,470  21,310  5.4  % 6.5  (1.1)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1)Refer to supplemental sales information schedules.




Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions) NINE MONTHS
Percent Change
Sales to customers by segment of business 2024 2023 Total Operations Currency
Innovative Medicine (1)
U.S. $24,993  23,090  8.2  % 8.2  — 
International 17,639  17,947  (1.7) 2.1  (3.8)
42,632  41,037  3.9  5.5  (1.6)
Innovative Medicine excluding COVID-19 Vaccine (1)
U.S. 24,993  23,090  8.2  8.2  — 
International 17,441  16,874  3.4  7.4  (4.0)
42,434  39,964  6.2  7.9  (1.7)
MedTech
U.S. 12,105  11,345  6.7  6.7  — 
International 11,564  11,382  1.6  4.7  (3.1)
23,669  22,727  4.1  5.7  (1.6)
U.S. 37,098  34,435  7.7  7.7  — 
International 29,203  29,329  (0.4) 3.1  (3.5)
Worldwide 66,301  63,764  4.0  5.6  (1.6)
U.S. 37,098  34,435  7.7  7.7  — 
International 29,005  28,256  2.7  6.3  (3.6)
Worldwide excluding COVID-19 Vaccine (1)
$66,103  62,691  5.4  % 7.1  (1.7)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1)Refer to supplemental sales information schedules.




Johnson & Johnson and subsidiaries
Condensed consolidated statement of earnings
(Unaudited; in Millions Except Per Share Figures) THIRD QUARTER
2024 2023 Percent
Increase
(Decrease)
Amount Percent
to Sales
Amount Percent
to Sales
Sales to customers $ 22,471  100.0  $21,351  100.0  5.2 
Cost of products sold 6,963  31.0  6,606  30.9  5.4 
Gross Profit 15,508  69.0  14,745  69.1  5.2 
Selling, marketing and administrative expenses 5,478  24.3  5,400  25.3  1.4 
Research and development expense 4,952  22.0  3,447  16.2  43.7 
In-process research and development impairments —  —  206  1.0   
Interest (income) expense, net (99) (0.4) (182) (0.8)  
Other (income) expense, net 1,798  8.0  499  2.3   
Restructuring 41  0.2  158  0.7   
Earnings before provision for taxes on income 3,338  14.9  5,217  24.4  (36.0)
Provision for taxes on income 644  2.9  908  4.2  (29.1)
Net earnings from Continuing Operations $2,694  12.0  $4,309  20.2  (37.5)
Net earnings from Discontinued Operations, net of tax —    21,719   
Net earnings $2,694    $26,028   
Net earnings per share (Diluted) from Continuing Operations $ 1.11  $ 1.69  (34.3)
Net earnings per share (Diluted) from Discontinued Operations $ —  $ 8.52   
Average shares outstanding (Diluted) 2,427.9  2,549.7 
Effective tax rate from Continuing Operations 19.3  % 17.4  %
Adjusted earnings from Continuing Operations before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income from Continuing Operations $ 7,277  32.4 $ 8,033  37.6 (9.4)
Net earnings from Continuing Operations $ 5,876  26.1 $ 6,777  31.7 (13.3)
Net earnings per share (Diluted) from Continuing Operations $ 2.42  $ 2.66  (9.0)
Effective tax rate from Continuing Operations 19.3  % 15.6  %
(1)    See Reconciliation of Non-GAAP Financial Measures.
(A)    NON-GAAP FINANCIAL MEASURES "Adjusted earnings from continuing operations before provision for taxes on income," "adjusted net earnings from continuing operations," "adjusted net earnings per share (diluted) from continuing operations," and "adjusted effective tax rate from continuing operations" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations 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 from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations prepared in accordance with GAAP, adjusted earnings from continuing operations before provision for taxes on income, adjusted net earnings from continuing operations, adjusted net earnings per share (diluted) from continuing operations, and adjusted effective tax rate from continuing operations 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
Condensed consolidated statement of earnings
(Unaudited; in Millions Except Per Share Figures) NINE MONTHS
2024 2023 Percent Increase (Decrease)
Amount Percent to Sales Amount Percent to Sales
Sales to customers $ 66,301  100.0  $ 63,764  100.0  4.0 
Cost of products sold 20,343  30.7  19,755  31.0  3.0 
Gross Profit 45,958  69.3  44,009  69.0  4.4 
Selling, marketing and administrative expenses 16,416  24.8  15,702  24.6  4.5 
Research and development expense 11,934  18.0  10,605  16.6  12.5 
In-process research and development impairments 194  0.3  255  0.4   
Interest (income) expense, net (433) (0.7) (277) (0.4)  
Other (income) expense, net 4,855  7.3  7,055  11.1   
Restructuring 192  0.3  433  0.6   
Earnings before provision for taxes on income 12,800  19.3  10,236  16.1  25.0 
Provision for taxes on income 2,165  3.3  1,042  1.7  107.8 
Net earnings from Continuing Operations $ 10,635  16.0  $ 9,194  14.4  15.7 
Net earnings from Discontinued Operations, net of tax —      21,910     
Net earnings $ 10,635      $ 31,104     
Net earnings per share (Diluted) from Continuing Operations $ 4.38  $ 3.53  24.1 
Net earnings per share (Diluted) from Discontinued Operations $ —  $ 8.42   
Average shares outstanding (Diluted) 2,429.5  2,603.4 
Effective tax rate from Continuing Operations 16.9  % 10.2  %
Adjusted earnings from Continuing Operations before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income from Continuing Operations $ 23,558  35.5  $ 23,574  37.0  (0.1)
Net earnings from Continuing Operations $ 19,296  29.1  $ 19,847  31.1  (2.8)
Net earnings per share (Diluted) from Continuing Operations $ 7.94  $ 7.62  4.2 
Effective tax rate from Continuing Operations 18.1  % 15.8  %
(1)See Reconciliation of Non-GAAP Financial Measures.
(A)NON-GAAP FINANCIAL MEASURES "Adjusted earnings from continuing operations before provision for taxes on income," "adjusted net earnings from continuing operations," "adjusted net earnings per share (diluted) from continuing operations," and "adjusted effective tax rate from continuing operations" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations 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 from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations prepared in accordance with GAAP, adjusted earnings from continuing operations before provision for taxes on income, adjusted net earnings from continuing operations, adjusted net earnings per share (diluted) from continuing operations, and adjusted effective tax rate from continuing operations 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
Third Quarter
(Dollars in Millions Except Per Share Data) 2024 2023
Net Earnings from Continuing Operations, after tax- as reported $2,694  $4,309 
Pre-tax Adjustments
Litigation related 2,388  (51)
Intangible Asset Amortization expense 1,171  1,132 
COVID-19 Vaccine related costs 1
44 
Restructuring related 2
47  384 
Medical Device Regulation 3
38  74 
Acquisition, integration and divestiture related 328  22 
(Gains)/losses on securities (37) 1,005 
IPR&D impairments —  206 
Tax Adjustments
Tax impact on special item adjustments 4
(762) (482)
Tax legislation and other tax related 134 
Adjusted Net Earnings from Continuing Operations, after tax $5,876  $6,777 
Average shares outstanding (Diluted) 2,427.9  2,549.7 
Adjusted net earnings per share from Continuing Operations (Diluted) $2.42  $2.66 
Operational adjusted net earnings per share from Continuing Operations (Diluted) $2.41   
Notes:
1COVID-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.
2In 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 expense of $19 million in the fiscal third quarter of 2024 ($100 million Q3 2024 YTD) and $149 million in the fiscal third quarter of 2023 ($424 million Q3 2023 YTD) includes the termination of partnered and non-partnered program costs, asset impairments and asset divestments.
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 expense of $28 million in the fiscal third quarter of 2024 ($107 million Q3 2024 YTD) and $235 million in the fiscal third quarter of 2023 ($235 million Q3 2023 YTD) primarily includes inventory and instrument reserves related to the market and product exits.
3European 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 will be completed by the end of 2024.
4The 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
Nine Months Ended
(Dollars in Millions Except Per Share Data) 2024 2023
Net Earnings from Continuing Operations, after tax- as reported $10,635  $9,194 
Pre-tax Adjustments
Litigation related 5,466  6,986 
Intangible Asset Amortization expense 3,355  3,384 
COVID-19 Vaccine related costs 1
77  653 
Restructuring related 2
207  659 
Medical Device Regulation 3
157  223 
Acquisition, integration and divestiture related 928  102 
(Gains)/losses on securities 374  1,076 
IPR&D impairments 194  255 
Tax Adjustments
Tax impact on special item adjustments 4
(2,055) (2,769)
Tax legislation and other tax related (42) 84 
Adjusted Net Earnings from Continuing Operations, after tax $19,296  $19,847 
Average shares outstanding (Diluted) 2,429.5  2,603.4 
Adjusted net earnings per share from Continuing Operations (Diluted) $7.94  $7.62 
Operational adjusted net earnings per share from Continuing Operations (Diluted) $7.94   
Notes:
1COVID-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.
2In 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 expense of $19 million in the fiscal third quarter of 2024 ($100 million Q3 2024 YTD) and $149 million in the fiscal third quarter of 2023 ($424 million Q3 2023 YTD) includes the termination of partnered and non-partnered program costs, asset impairments and asset divestments.
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 expense of $28 million in the fiscal third quarter of 2024 ($107 million Q3 2024 YTD) and $235 million in the fiscal third quarter of 2023 ($235 million Q3 2023 YTD) primarily includes inventory and instrument reserves related to the market and product exits.
3European 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 will be completed by the end of 2024.
4The 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)
Third quarter 2024 actual vs. 2023 actual
Segments
 Innovative Medicine  MedTech  Total
WW As Reported 4.9  % 5.8  % 5.2  %
U.S. 7.5  % 7.8  % 7.6  %
International 1.2  % 3.9  % 2.2  %
WW Currency (1.4) (0.6) (1.1)
U.S.
International (3.2) (1.1) (2.4)
WW Operational 6.3  % 6.4  % 6.3  %
U.S. 7.5  % 7.8  % 7.6  %
International 4.4  % 5.0  % 4.6  %
Shockwave (3.1) (1.1)
U.S. (4.4) (1.4)
International (1.8) (0.7)
All Other Acquisitions and Divestitures (A&D) 0.1 0.4 0.2
U.S. 0.1 0.8 0.3
International 0.2 0.0 0.1
WW Adjusted Operational Ex A&D 6.4  % 3.7  % 5.4  %
U.S. 7.6  % 4.2  % 6.5  %
International 4.6  % 3.2  % 4.0  %
COVID-19 Vaccine 0.3 0.2
U.S. 0.0 0.0
International 0.8 0.5
WW Adjusted Operational Ex A&D & COVID-19 Vaccine 6.7  % 3.7  % 5.6  %
U.S. 7.6  % 4.2  % 6.5  %
International 5.4  % 3.2  % 4.5  %
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 and subsidiaries
Reconciliation of non-GAAP financial measures
Adjusted operational sales growth(A)
Nine months 2024 actual vs. 2023 actual
Segments
 Innovative Medicine  MedTech  Total
WW As Reported 3.9  % 4.1  % 4.0  %
U.S. 8.2  % 6.7  % 7.7  %
International (1.7) % 1.6  % (0.4) %
WW Currency (1.6) (1.6) (1.6)
U.S.
International (3.8) (3.1) (3.5)
WW Operational 5.5  % 5.7  % 5.6  %
U.S. 8.2  % 6.7  % 7.7  %
International 2.1  % 4.7  % 3.1  %
Shockwave (1.3) (0.5)
U.S. (2.1) (0.7)
International (0.6) (0.2)
All Other Acquisitions and Divestitures (A&D) 0.1 0.3 0.2
U.S. 0.1 0.7 0.3
International 0.1 0.1 0.1
WW Adjusted Operational Ex A&D 5.6  % 4.7  % 5.3  %
U.S. 8.3  % 5.3  % 7.3  %
International 2.2  % 4.2  % 3.0  %
COVID-19 Vaccine 2.4 1.5
U.S. 0.0 0.0
International 5.3 3.2
WW Adjusted Operational Ex A&D & COVID-19 Vaccine 8.0  % 4.7  % 6.8  %
U.S. 8.3  % 5.3  % 7.3  %
International 7.5  % 4.2  % 6.2  %
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)
THIRD QUARTER
% Change
2024 2023 Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)
IMMUNOLOGY
US $3,068  3,193  (3.9) % (3.9) % —  %
Intl 1,552  1,656  (6.2) (2.1) (4.1)
WW 4,621  4,849  (4.7) (3.3) (1.4)
REMICADE
US 281  296  (5.4) (5.4) — 
US Exports(3)
27  38  (28.9) (28.9) — 
Intl 112  127  (11.5) (6.5) (5.0)
WW 419  461  (9.1) (7.7) (1.4)
SIMPONI / SIMPONI ARIA
US 299  310  (3.7) (3.7) — 
Intl 218  319  (31.8) (23.3) (8.5)
WW 516  629  (18.0) (13.6) (4.4)
STELARA
US 1,770  1,912  (7.5) (7.5) — 
Intl 906  951  (4.8) (2.3) (2.5)
WW 2,676  2,864  (6.6) (5.7) (0.9)
TREMFYA
US 691  634  9.1  9.1  — 
Intl 316  258  22.6  26.9  (4.3)
WW 1,007  891  13.0  14.3  (1.3)
OTHER IMMUNOLOGY
US (45.6) (45.6) — 
Intl —  —  — 
WW (45.6) (45.6) — 
INFECTIOUS DISEASES
US 365  360  1.5  1.5  — 
Intl 471  500  (5.7) (5.1) (0.6)
WW 836  859  (2.7) (2.4) (0.3)
COVID-19 VACCINE
US —  —  — 
Intl 41  (97.7) (98.9) 1.2 
WW 41  (97.7) (98.9) 1.2 
EDURANT / rilpivirine
US (15.8) (15.8) — 
Intl 323  287  12.3  11.4  0.9 
WW 330  297  11.5  10.6  0.9 
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US 355  345  2.8  2.8  — 
Intl 94  102  (6.9) (3.0) (3.9)
WW 449  447  0.6  1.5  (0.9)
OTHER INFECTIOUS DISEASES
US (52.2) (52.2) — 
Intl 53  69  (23.2) (20.5) (2.7)
WW 55  74  (25.4) (22.9) (2.5)
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
THIRD QUARTER
% Change
2024 2023 Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
NEUROSCIENCE
US $1,094  1,036  5.6  % 5.6  % —  %
Intl 662  706  (6.2) (3.9) (2.3)
WW 1,755  1,742  0.8  1.7  (0.9)
CONCERTA / methylphenidate
US 26  57  (55.0) (55.0) — 
Intl 117  133  (11.9) (8.5) (3.4)
WW 142  189  (24.8) (22.5) (2.3)
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US 780  730  6.8  6.8  — 
Intl 269  299  (10.1) (8.3) (1.8)
WW 1,049  1,029  1.9  2.4  (0.5)
SPRAVATO
US 243  154  56.8  56.8  — 
Intl 42  29  44.6  47.4  (2.8)
WW 284  183  54.9  55.3  (0.4)
OTHER NEUROSCIENCE
US 46  94  (51.4) (51.4) — 
Intl 235  245  (4.4) (2.0) (2.4)
WW 281  340  (17.4) (15.7) (1.7)
ONCOLOGY
US 2,816  2,219  26.9  26.9  — 
Intl 2,565  2,313  10.9  14.3  (3.4)
WW 5,380  4,533  18.7  20.5  (1.8)
CARVYKTI
US 258  140  84.9  84.9  — 
Intl 27  12  * * *
WW 286  152  87.7  87.6  0.1 
DARZALEX
US 1,684  1,369  23.0  23.0  — 
Intl 1,332  1,130  17.9  22.8  (4.9)
WW 3,016  2,499  20.7  22.9  (2.2)
ERLEADA
US 337  288  17.1  17.1  — 
Intl 453  342  32.4  34.0  (1.6)
WW 790  631  25.4  26.3  (0.9)
IMBRUVICA
US 259  264  (1.9) (1.9) — 
Intl 494  545  (9.2) (7.2) (2.0)
WW 753  808  (6.8) (5.5) (1.3)
TECVAYLI
US 105  93  13.5  13.5  — 
Intl 30  19  54.2  59.4  (5.2)
WW 135  112  20.6  21.4  (0.8)
ZYTIGA / abiraterone acetate
US 16  (66.0) (66.0) — 
Intl 144  199  (27.1) (24.4) (2.7)
WW 150  214  (30.0) (27.5) (2.5)
OTHER ONCOLOGY
US 168  50  * * — 
Intl 83  67  24.8  27.6  (2.8)
WW 250  117  * * *
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
THIRD QUARTER
% Change
2024 2023 Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
PULMONARY HYPERTENSION
US $ 815  680  20.0  % 20.0  % —  %
Intl 287  274  4.5  9.7  (5.2)
WW 1,102  954  15.6  17.0  (1.4)
OPSUMIT
US 406  323  25.4  25.4  — 
Intl 165  166  (0.2) 1.7  (1.9)
WW 571  490  16.8  17.4  (0.6)
UPTRAVI
US 379  336  12.7  12.7  — 
Intl 80  66  21.8  28.2  (6.4)
WW 458  402  14.2  15.2  (1.0)
OTHER PULMONARY HYPERTENSION
US 32  20  54.0  54.0  — 
Intl 40  42  (3.9) 12.4  (16.3)
WW 72  63  15.0  25.9  (10.9)
CARDIOVASCULAR / METABOLISM / OTHER
US 713 763 (6.5) (6.5) — 
Intl 170 194 (11.9) (10.0) (1.9)
WW 884 957 (7.6) (7.2) (0.4)
XARELTO
US 592  625  (5.2) (5.2) — 
Intl —  —  —  —  — 
WW 592  625  (5.2) (5.2) — 
OTHER
US 121  139  (12.2) (12.2) — 
Intl 170  194  (11.9) (10.0) (1.9)
WW 292  332  (12.0) (10.9) (1.1)
TOTAL INNOVATIVE MEDICINE
US 8,871 8,249 7.5  7.5  — 
Intl 5,709 5,644 1.2  4.4  (3.2)
WW $ 14,580  13,893 4.9  % 6.3  % (1.4) %
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
THIRD QUARTER
% Change
2024 2023 Reported
Operational(1)
Currency
MEDTECH SEGMENT(2)
CARDIOVASCULAR(4)
US $ 1,148  891  28.6  % 28.6  % —  %
Intl 819  667  22.8  23.7  (0.9)
WW 1,966  1,558  26.2  26.5  (0.3)
ELECTROPHYSIOLOGY
US 660  611  7.9  7.9  — 
Intl 619  549  12.7  13.8  (1.1)
WW 1,279  1,161  10.2  10.7  (0.5)
ABIOMED
US 293  254  15.4  15.4  — 
Intl 68  57  20.1  20.1  0.0 
WW 362  311  16.3  16.3  0.0 
SHOCKWAVE(5)
US 163  —  * * — 
Intl 66  —  * * — 
WW 229  —  * * — 
OTHER CARDIOVASCULAR(4)
US 30  26  16.7  16.7  — 
Intl 66  61  7.7  7.5  0.2 
WW 96  87 10.4  10.2  0.2 
ORTHOPAEDICS
US 1,359  1,349  0.7  0.7  — 
Intl 832  815  2.0  2.2  (0.2)
WW 2,191  2,164  1.2  1.3  (0.1)
HIPS
US 250  239  4.8  4.8  — 
Intl 131  136  (3.6) (3.2) (0.4)
WW 381  375  1.7  1.9  (0.2)
KNEES
US 212  207  2.2  2.2  — 
Intl 140  131  6.9  7.0  (0.1)
WW 352  338  4.0  4.1  (0.1)
TRAUMA
US 497  488  1.8  1.8  — 
Intl 265  253  4.2  4.8  (0.6)
WW 761  742  2.6  2.8  (0.2)
SPINE, SPORTS & OTHER
US 400  415  (3.6) (3.6) — 
Intl 296  295  0.4  0.4  0.0 
WW 696  710  (1.9) (2.0) 0.1 
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
THIRD QUARTER
% Change
2024 2023 Reported
Operational(1)
Currency
MEDTECH SEGMENT(2)(Continued)
SURGERY
US $983  994  (1.1) % (1.1) % —  %
Intl 1,451  1,483  (2.2) (0.3) (1.9)
WW 2,434  2,479  (1.8) (0.7) (1.1)
ADVANCED
US 448  455  (1.4) (1.4) — 
Intl 661  709  (6.8) (5.1) (1.7)
WW 1,109  1,164  (4.7) (3.6) (1.1)
GENERAL
US 535  540  (0.9) (0.9) — 
Intl 791  775  2.1  4.0  (1.9)
WW 1,325  1,314  0.8  2.0  (1.2)
VISION
US 549  512  7.2  7.2  — 
Intl 751  744  0.9  1.8  (0.9)
WW 1,300  1,256  3.5  4.0  (0.5)
CONTACT LENSES / OTHER
US 441  399  10.2  10.2  — 
Intl 527  529  (0.3) 0.6  (0.9)
WW 968  928  4.2  4.7  (0.5)
SURGICAL
US 108  112  (3.6) (3.6) — 
Intl 225  216  3.9  4.7  (0.8)
WW 333  328  1.3  1.9  (0.6)
TOTAL MEDTECH
US 4,038  3,747  7.8  7.8  — 
Intl 3,853  3,711  3.9  5.0  (1.1)
WW $7,891  7,458  5.8  % 6.4  % (0.6) %
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
NINE MONTHS
% Change
2024 2023 Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)
IMMUNOLOGY
US $8,499  8,506  (0.1) % (0.1) % —  %
Intl 5,090  4,951  2.8  7.3  (4.5)
WW 13,590  13,457  1.0  2.6  (1.6)
REMICADE
US 778  849  (8.5) (8.5) — 
US Exports(3)
89  112  (20.5) (20.5) — 
Intl 380  449  (15.4) (11.3) (4.1)
WW 1,246  1,410  (11.6) (10.3) (1.3)
SIMPONI / SIMPONI ARIA
US 820  866  (5.3) (5.3) — 
Intl 787  829  (5.1) 4.1  (9.2)
WW 1,607  1,695  (5.2) (0.7) (4.5)
STELARA
US 5,021  5,180  (3.1) (3.1) — 
Intl 2,991  2,925  2.2  5.4  (3.2)
WW 8,012  8,105  (1.2) 0.0  (1.2)
TREMFYA
US 1,789  1,490  20.1  20.1  — 
Intl 932  747  24.7  29.6  (4.9)
WW 2,721  2,237  21.6  23.3  (1.7)
OTHER IMMUNOLOGY
US (66.8) (66.8) — 
Intl —  —  — 
WW (66.8) (66.8) — 
INFECTIOUS DISEASES
US 1,023  1,147  (10.8) (10.8) — 
Intl 1,599  2,420  (33.9) (33.4) (0.5)
WW 2,622  3,566  (26.5) (26.1) (0.4)
COVID-19 VACCINE
US —  —  — 
Intl 198  1,073  (81.6) (81.6) 0.0 
WW 198  1,073  (81.6) (81.6) 0.0 
EDURANT / rilpivirine
US 24  26  (10.0) (10.0) — 
Intl 926  816  13.5  13.3  0.2 
WW 950  843  12.7  12.6  0.1 
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US 990  1,105  (10.5) (10.5) — 
Intl 315  310  1.8  4.3  (2.5)
WW 1,305  1,415  (7.8) (7.2) (0.6)
OTHER INFECTIOUS DISEASES
US 10  15  (37.7) (37.7) — 
Intl 160  220  (27.4) (24.2) (3.2)
WW 169  235  (28.0) (25.1) (2.9)
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
NINE MONTHS
% Change
2024 2023 Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
NEUROSCIENCE
US $3,250  3,043  6.8  % 6.8  % —  %
Intl 2,090  2,296  (8.9) (4.8) (4.1)
WW 5,340  5,339  0.0  1.8  (1.8)
CONCERTA / methylphenidate
US 101  191  (47.5) (47.5) — 
Intl 382  412  (7.3) (2.9) (4.4)
WW 482  603  (20.0) (17.0) (3.0)
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US 2,329  2,164  7.6  7.6  — 
Intl 830  940  (11.7) (8.7) (3.0)
WW 3,159  3,104  1.8  2.7  (0.9)
SPRAVATO
US 660  409  61.2  61.2  — 
Intl 120  74  62.9  65.0  (2.1)
WW 780  483  61.5  61.8  (0.3)
OTHER NEUROSCIENCE
US 161  278  (42.1) (42.1) — 
Intl 759  870  (12.8) (7.4) (5.4)
WW 920  1,149  (19.9) (15.8) (4.1)
ONCOLOGY
US 7,835  6,177  26.8  26.8  — 
Intl 7,450  6,865  8.5  12.6  (4.1)
WW 15,284  13,043  17.2  19.3  (2.1)
CARVYKTI
US 565  324  74.6  74.6  — 
Intl 63  17  * * *
WW 629  341  84.3  84.2  0.1 
DARZALEX
US 4,789  3,882  23.4  23.4  — 
Intl 3,797  3,312  14.6  19.9  (5.3)
WW 8,586  7,194  19.3  21.8  (2.5)
ERLEADA
US 940  778  20.8  20.8  — 
Intl 1,275  961  32.6  35.6  (3.0)
WW 2,215  1,740  27.3  29.0  (1.7)
IMBRUVICA
US 770  796  (3.2) (3.2) — 
Intl 1,537  1,681  (8.5) (6.1) (2.4)
WW 2,307  2,476  (6.8) (5.2) (1.6)
TECVAYLI
US 310  232  34.0  34.0  — 
Intl 93  37  * * *
WW 403  269  49.6  50.0  (0.4)
ZYTIGA / abiraterone acetate
US 25  41  (38.0) (38.0) — 
Intl 470  646  (27.1) (22.8) (4.3)
WW 496  686  (27.8) (23.7) (4.1)
OTHER ONCOLOGY
US 435  125  * * — 
Intl 214  211  2.0  4.8  (2.8)
WW 649  336  93.4  % 95.1  % (1.7) %
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
NINE MONTHS
% Change
2024 2023 Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
PULMONARY HYPERTENSION
US $ 2,324  1,964  18.4  % 18.4  % —  %
Intl 866  835  3.7  10.6  (6.9)
WW 3,190  2,798  14.0  16.1  (2.1)
OPSUMIT
US 1,135  924  22.8  22.8  — 
Intl 504  512  (1.6) 2.2  (3.8)
WW 1,639  1,437  14.1  15.4  (1.3)
UPTRAVI
US 1,120  978  14.5  14.5  — 
Intl 232  185  25.5  33.5  (8.0)
WW 1,352  1,163  16.3  17.5  (1.2)
OTHER PULMONARY HYPERTENSION
US 70  61  14.0  14.0  — 
Intl 129  137  (5.8) 10.9  (16.7)
WW 199  199  0.3  11.9  (11.6)
CARDIOVASCULAR / METABOLISM / OTHER
US 2,061 2,254 (8.5) (8.5) — 
Intl 543 580 (6.4) (4.6) (1.8)
WW 2,605 2,834 (8.1) (7.7) (0.4)
XARELTO
US 1,697  1,840  (7.8) (7.8) — 
Intl —  —  —  —  — 
WW 1,697  1,840  (7.8) (7.8) — 
OTHER
US 364  414  (11.9) (11.9) — 
Intl 543  580  (6.4) (4.6) (1.8)
WW 908  994  (8.7) (7.7) (1.0)
TOTAL INNOVATIVE MEDICINE
US 24,993 23,090 8.2  8.2  — 
Intl 17,639 17,947 (1.7) 2.1  (3.8)
WW $ 42,632  41,037 3.9  % 5.5  % (1.6) %
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
NINE MONTHS
% Change
2024 2023 Reported
Operational(1)
Currency
MEDTECH SEGMENT(2)
CARDIOVASCULAR(4)
US $ 3,292  2,662  23.6  % 23.6  % —  %
Intl 2,353  2,019  16.5  20.5  (4.0)
WW 5,645  4,681  20.6  22.3  (1.7)
ELECTROPHYSIOLOGY
US 2,057  1,791  14.8  14.8  — 
Intl 1,889  1,658  14.0  18.2  (4.2)
WW 3,946  3,449  14.4  16.5  (2.1)
ABIOMED
US 905  790  14.5  14.5  — 
Intl 207  176  17.7  20.0  (2.3)
WW 1,112  966  15.1  15.5  (0.4)
SHOCKWAVE(5)
US 240  —  * * — 
Intl 66  —  * * — 
WW 306  —  * * — 
OTHER CARDIOVASCULAR(4)
US 89  81  10.6  10.6  — 
Intl 192  186  3.0  5.7  (2.7)
WW 281  267 5.3  7.2  (1.9)
ORTHOPAEDICS
US 4,229  4,100  3.2  3.2  — 
Intl 2,614  2,574  1.5  3.1  (1.6)
WW 6,843  6,674  2.5  3.2  (0.7)
HIPS
US 785  730  7.5  7.5  — 
Intl 435  432  0.6  2.4  (1.8)
WW 1,220  1,162  5.0  5.6  (0.6)
KNEES
US 684  654  4.5  4.5  — 
Intl 463  415  11.5  12.7  (1.2)
WW 1,147  1,069  7.2  7.7  (0.5)
TRAUMA   
US 1,499  1,462  2.5  2.5  — 
Intl 786  775  1.4  3.0  (1.6)
WW 2,285  2,238  2.1  2.7  (0.6)
SPINE, SPORTS & OTHER
US 1,262  1,254  0.6  0.6  — 
Intl 930  952  (2.3) (0.6) (1.7)
WW 2,191  2,205  (0.6) 0.1  (0.7)
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
NINE MONTHS
% Change
2024 2023 Reported
Operational(1)
Currency
MEDTECH SEGMENT(2)(Continued)
SURGERY
US $2,965  2,984  (0.6) % (0.6) % —  %
Intl 4,373  4,522  (3.3) 0.4  (3.7)
WW 7,338  7,507  (2.2) 0.0  (2.2)
ADVANCED   
US 1,360  1,365  (0.4) (0.4) — 
Intl 1,977  2,139  (7.6) (4.2) (3.4)
WW 3,337  3,504  (4.8) (2.7) (2.1)
GENERAL   
US 1,605  1,619  (0.9) (0.9) — 
Intl 2,397  2,383  0.6  4.4  (3.8)
WW 4,001  4,002  0.0  2.3  (2.3)
VISION
US 1,619  1,599  1.3  1.3  — 
Intl 2,224  2,265  (1.8) 1.0  (2.8)
WW 3,843  3,864  (0.5) 1.1  (1.6)
CONTACT LENSES / OTHER      
US 1,288  1,252  2.8  2.8  — 
Intl 1,508  1,568  (3.8) (0.4) (3.4)
WW 2,796  2,820  (0.9) 1.0  (1.9)
SURGICAL      
US 331  346  (4.4) (4.4) — 
Intl 717  698  2.7  4.2  (1.5)
WW 1,048  1,044  0.3  1.4  (1.1)
     
TOTAL MEDTECH
US 12,105  11,345  6.7  6.7  — 
Intl 11,564  11,382  1.6  4.7  (3.1)
WW $23,669  22,727  4.1  % 5.7  % (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)Reported as U.S. sales
(4)Previously referred to as Interventional Solutions
(5)Acquired on May 31, 2024



Supplemental sales information (unaudited)
(Dollars in Millions)
THIRD QUARTER
% Change
2024 2023 Total Operations Currency
Innovative Medicine
U.S. $ 8,871  8,249  7.5  % 7.5  — 
International 5,709  5,644  1.2  4.4  (3.2)
Worldwide 14,580  13,893  4.9  6.3  (1.4)
COVID-19 Vaccine
U.S. —  —  —  —  — 
International 41  (97.7) (98.9) 1.2 
Worldwide 41  (97.7) (98.9) 1.2 
Innovative Medicine excluding COVID-19 Vaccine
U.S. 8,871  8,249  7.5  7.5  — 
International 5,708  5,603  1.9  5.2  (3.3)
Worldwide 14,579  13,852  5.2  6.6  (1.4)
Worldwide
U.S. 12,909  11,996  7.6  7.6  — 
International 9,562  9,355  2.2  4.6  (2.4)
Worldwide 22,471  21,351  5.2  6.3  (1.1)
COVID-19 Vaccine
U.S. —  —  —  —  — 
International 41  (97.7) (98.9) 1.2 
Worldwide 41  (97.7) (98.9) 1.2 
Worldwide
U.S. 12,909  11,996  7.6  7.6  — 
International 9,561  9,314  2.7  5.1  (2.4)
Worldwide excluding COVID-19 Vaccine $ 22,470  21,310  5.4  6.5  (1.1)
Europe $ 4,914  4,727  4.0  % 3.0  1.0 
Europe COVID-19 Vaccine Sales 41  (97.7) (98.9) 1.2 
Europe excluding COVID-19 Vaccine $ 4,913  4,686  4.8  % 3.8  1.0 
Note: Columns and rows within tables may not add due to rounding




Supplemental sales information (unaudited)
(Dollars in Millions)
NINE MONTHS
% Change
2024 2023 Total Operations Currency
Innovative Medicine
U.S. $ 24,993  23,090  8.2  % 8.2  — 
International 17,639  17,947  (1.7) 2.1  (3.8)
Worldwide 42,632  41,037  3.9  5.5  (1.6)
COVID-19 Vaccine
U.S. —  —  —  —  — 
International 198  1,073  (81.6) (81.6) 0.0 
Worldwide 198  1,073  (81.6) (81.6) 0.0 
Innovative Medicine excluding COVID-19 Vaccine
U.S. 24,993  23,090  8.2  8.2  — 
International 17,441  16,874  3.4  7.4  (4.0)
Worldwide 42,434  39,964  6.2  7.9  (1.7)
Worldwide
U.S. 37,098  34,435  7.7  7.7  — 
International 29,203  29,329  (0.4) 3.1  (3.5)
Worldwide 66,301  63,764  4.0  5.6  (1.6)
COVID-19 Vaccine
U.S. —  —  —  —  — 
International 198  1,073  (81.6) (81.6) 0.0 
Worldwide 198  1,073  (81.6) (81.6) 0.0 
Worldwide
U.S. 37,098  34,435  7.7  7.7  — 
International 29,005  28,256  2.7  6.3  (3.6)
Worldwide excluding COVID-19 Vaccine $ 66,103  62,691  5.4  % 7.1  (1.7)
Europe $ 15,291  15,448  (1.0) % (0.7) (0.3)
Europe COVID-19 Vaccine Sales 198  1,073  (81.6) (81.6) — 
Europe excluding COVID-19 Vaccine $ 15,093  14,375  5.0  % 5.3  (0.3)
Note: Columns and rows within tables may not add due to rounding