Form 8-K JOHNSON & JOHNSON For: Apr 19

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April 19, 2016 8:02 AM EDT

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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):

April 19, 2016

(Exact name of registrant as specified in its charter)



New Jersey	I-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:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17

CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17

CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On April 19, 2016, Johnson & Johnson issued the attached press release announcing its sales and earnings for the first quarter ended April 3, 2016.

Item 9.01 Financial Statements and Exhibits



Exhibit No.	Description of Exhibit
99.15	Press Release dated April 19, 2016 for the period ended April 3, 2016.
99.2O	Unaudited Comparative Supplementary Sales Data and Condensed Consolidated Statement of Earnings for the first quarter.

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.



	Johnson & Johnson
		(Registrant)
Date: April 19, 2016	By:	/s/ Ronald A. Kapusta
		Ronald A. Kapusta Controller (Principal Accounting Officer)

Exhibit 99.15

Johnson & Johnson Reports 2016 First-Quarter Results:

Sales of $17.5 Billion Increased 0.6% Versus 2015 First Quarter

First-Quarter EPS was $1.54

Adjusted 2016 First-Quarter EPS of $1.68 increased 7.7%*

Continued Strong Operational Sales Growth

Excluding Acquisitions/Divestitures and Hepatitis C Impact

New Brunswick, N.J. (April 19, 2016) - Johnson & Johnson (NYSE: JNJ) today announced sales of $17.5 billion for the first quarter of 2016, an increase of 0.6% as compared to the first quarter of 2015. Operational sales results increased 3.9% and the negative impact of currency was 3.3%. Domestic sales increased 7.2%. International sales decreased 6.0%, reflecting operational growth of 0.6% and a negative currency impact of 6.6%. Excluding the net impact of acquisitions, divestitures and hepatitis C sales, on an operational basis, worldwide sales increased 6.9%, domestic sales increased 9.8% and international sales increased 3.8%.^* The currency devaluation in Venezuela negatively impacted worldwide operational sales growth by 60 basis points, and international sales growth by 120 basis points.

Net earnings and diluted earnings per share for the first quarter of 2016 were $4.3 billion and $1.54, respectively. First quarter 2016 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a charge for after-tax special items of approximately $0.2 billion. First quarter 2015 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a net gain for after-tax special items of approximately $0.1 billion. A reconciliation of non-GAAP financial measures is included as an accompanying schedule. Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $4.7 billion and adjusted diluted earnings per share were $1.68, representing increases of 6.1% and 7.7%, respectively, as compared to the same period in 2015.^* On an operational basis, adjusted diluted earnings per share increased 10.3%.^*

“We are off to a strong start to the year, supported by our first quarter underlying sales growth,” said Alex Gorsky, Chairman and Chief Executive Officer. “Our Pharmaceuticals business continues to deliver impressive levels of growth, we have steady improvement in our Consumer business, and we are seeing momentum in our Medical Devices businesses, all of which are fueling our optimism for the full-year ahead.”

Mr. Gorsky continued, “I am proud of our global teams for their contributions to these results and their commitment to developing innovative solutions that address the unmet health care needs of people around the world.”

The Company increased its sales guidance for the full-year 2016 to $71.2 billion to $71.9 reflecting current foreign currency exchange rates. Additionally, the Company increased its adjusted earnings guidance for full-year 2016 to $6.53 - $6.68 per share.

Worldwide Consumer sales of $3.2 billion for the first quarter 2016 represented a decrease of 5.8% versus the prior year, consisting of an operational decrease of 0.2% and a negative impact from currency of 5.6%. Domestic sales decreased 0.1%; international sales decreased 9.6%, which reflected an operational decrease of 0.3% and a negative currency impact of 9.3%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.9%, domestic sales increased 4.1% and international sales increased 0.5%^*. The currency devaluation in Venezuela negatively impacted worldwide Consumer operational sales growth by 200 basis points, and international sales growth by 320 basis points.

Primary contributors to Consumer operational sales results were over-the-counter products including TYLENOL^® and MOTRIN^® analgesics, upper respiratory products including ZYRTEC^® allergy medications, digestive health products, domestic LISTERINE^® oral care products and international anti-smoking aids.

Worldwide Pharmaceutical sales of $8.2 billion for the first quarter 2016 represented an increase of 5.9% versus the prior year with an operational increase of 8.5% and a negative impact from currency of 2.6%. Domestic sales increased 12.9%; international sales decreased 3.4%, which reflected an operational increase of 2.6% and a negative currency impact of 6.0%. Excluding the net impact of acquisitions, divestitures and hepatitis C sales, on an operational basis, worldwide sales increased 12.3%, domestic sales increased 16.2% and international sales increased 7.1%.^*

Worldwide operational sales growth was driven by new products and the strength of core products. New product sales growth was negatively impacted by lower sales of OLYSIO^®/SOVRIAD^®(simeprevir) due to competitive entrants. Strong growth in new products include IMBRUVICA^® (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer; XARELTO^® (rivaroxaban), an oral anticoagulant; DARZALEX^®(daratumumab), for the treatment of patients with multiple myeloma; and INVOKANA^®/INVOKAMET^®(canagliflozin), for the treatment of adults with type 2 diabetes.

Additional contributors to operational sales growth include REMICADE^® (infliximab) and SIMPONI^®/SIMPONI ARIA^® (golimumab), biologics approved for the treatment of a number of immune-mediated inflammatory diseases; STELARA^® (ustekinumab), a biologic approved for the treatment of moderate to severe plaque psoriasis and psoriatic arthritis; and INVEGA^®SUSTENNA^®/XEPLION^®/TRINZA^® (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults.

During the quarter, the U.S. Food and Drug Administration (FDA) approved an additional indication for IMBRUVICA^® (ibrutinib) for first-line treatment of chronic lymphocytic leukemia. The Committee for Medicinal Products for Human Use (CHMP) issued a positive opinion recommending a conditional marketing authorization in the European Union for first-in-class CD38 immunotherapy DARZALEX^®(daratumumab), for the treatment of patients with multiple myeloma, as well as a positive opinion recommending marketing authorization for TREVICTA^® (paliperidone palmitate a 3-monthly injection) for the maintenance treatment of schizophrenia.

In April, subsequent to the first quarter, a worldwide collaboration and license agreement was entered into with TESARO, Inc. for exclusive rights to the investigational compound niraparib in prostate cancer.

Worldwide Medical Devices sales of $6.1 billion for the first quarter 2016 represented a decrease of 2.4% versus the prior year consisting of an operational increase of 0.5% and a negative currency impact of 2.9%. Domestic sales increased 2.2%; international sales decreased 6.5%, which reflected an operational decrease of 1.0% and a negative currency impact of 5.5%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 3.0%, domestic sales increased 3.3% and international sales increased 2.8%.^*

Primary contributors to operational sales growth were electrophysiology products in the Cardiovascular business; joint reconstruction products in the Orthopaedics business; endocutters, energy and biosurgical products in the Advanced Surgery business; and international ACUVUE^® contact lenses in the Vision Care business.

In April, subsequent to the quarter, the acquisition of NeuWave Medical, Inc., a privately held medical device company that manufactures and markets minimally invasive soft tissue microwave ablation systems, was completed.

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 127,500 employees at more than 250 Johnson & Johnson operating companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.

^* Operational sales growth excluding the net impact of acquisitions, divestitures and hepatitis C sales, as well as adjusted net earnings, adjusted diluted earnings per share and operational adjusted 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 www.investor.jnj.com.

Johnson & Johnson will conduct a conference call with investors to discuss this news 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 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. These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including adjusted income before tax by segment, a pharmaceutical pipeline of selected compounds in late stage development and a copy of today’s earnings call presentation can be found on the company's website at www.investor.jnj.com.

NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position and business strategy. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to, 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; market conditions and the possibility that the on-going share repurchase program may be suspended or discontinued; the impact of business combinations and divestitures; 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 or financial distress of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; increased scrutiny of the health care industry by government agencies; and the potential failure to meet obligations in compliance agreements with government bodies. A further list and description of these risks, uncertainties and other factors can be found in Johnson & Johnson’s Annual Report on Form 10-K for the fiscal year ended January 3, 2016, including in Exhibit 99 thereto, and the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.investor.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.

Exhibit 99.2O



Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings

(Unaudited; in Millions Except Per Share Figures)	FIRST QUARTER

	2016			2015			Percent
			Percent			Percent	Increase
	Amount		to Sales	Amount		to Sales	(Decrease)
Sales to customers	$ 17,482		100.0	$ 17,374		100.0	0.6
Cost of products sold	5,329		30.5	5,282		30.4	0.9
Selling, marketing and administrative expenses	4,688		26.8	4,847		27.9	(3.3)
Research and development expense	2,013		11.5	1,899		10.9	6.0
Interest (income) expense, net	77		0.4	119		0.7
Other (income) expense, net	(39)		(0.2)	(348)		(2.0)
Restructuring	120		0.7	—		—
Earnings before provision for taxes on income	5,294		30.3	5,575		32.1	(5.0)
Provision for taxes on income	1,002		5.7	1,255		7.2	(20.2)
Net earnings	4,292		24.6	4,320		24.9	(0.6)

Net earnings per share (Diluted)	$ 1.54			$ 1.53			0.7

Average shares outstanding (Diluted)	2,795.4			2,826.0

Effective tax rate	18.9	%		22.5	%

Adjusted earnings before provision for taxes and net earnings^{(1) (A)}
Earnings before provision for taxes on income	$ 5,801		33.2	$ 5,630		32.4	3.0
Net earnings	$ 4,689		26.8	$ 4,418		25.4	6.1
Net earnings per share (Diluted)	$ 1.68			$ 1.56			7.7
Effective tax rate	19.2	%		21.5	%

⁽¹⁾ See Reconciliation of Non-GAAP Financial Measures.

^(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings before provision for taxes on income," "adjusted net earnings," "adjusted net earnings per share (diluted)," and "adjusted effective tax rate" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant 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, the effects of an acquisition, the Ortho-Clinical Diagnostics divestiture, 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
Supplementary Sales Data

(Unaudited; Dollars in Millions)	FIRST QUARTER
			Percent Change
	2016	2015	Total		Operations	Currency
Sales to customers by
segment of business

Consumer
U.S.	$ 1,358	1,359	(0.1)	%	(0.1)	—
International	1,837	2,031	(9.6)		(0.3)	(9.3)
	3,195	3,390	(5.8)		(0.2)	(5.6)

Pharmaceutical
U.S.	4,937	4,371	12.9		12.9	—
International	3,241	3,355	(3.4)		2.6	(6.0)
	8,178	7,726	5.9		8.5	(2.6)

Medical Devices
U.S.	3,026	2,962	2.2		2.2	—
International	3,083	3,296	(6.5)		(1.0)	(5.5)
	6,109	6,258	(2.4)		0.5	(2.9)

U.S.	9,321	8,692	7.2		7.2	—
International	8,161	8,682	(6.0)		0.6	(6.6)
Worldwide	$ 17,482	17,374	0.6	%	3.9	(3.3)



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	FIRST QUARTER
			Percent Change
	2016	2015	Total		Operations	Currency
Sales to customers by
geographic area

U.S.	$ 9,321	8,692	7.2	%	7.2	—

Europe	3,847	4,040	(4.8)		(0.8)	(4.0)
Western Hemisphere excluding U.S.	1,331	1,639	(18.8)		(0.6)	(18.2)
Asia-Pacific, Africa	2,983	3,003	(0.7)		3.0	(3.7)
International	8,161	8,682	(6.0)		0.6	(6.6)

Worldwide	$ 17,482	17,374	0.6	%	3.9	(3.3)



Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures

	First Quarter		% Incr. /
(Dollars in Millions Except Per Share Data)	2016	2015	(Decr.)

Earnings before provision for taxes on income - as reported	$ 5,294	5,575	(5.0)	%

Intangible asset amortization expense	282	312

Restructuring⁽¹⁾	137	—

Litigation expense/(gain), net	66	(402)

DePuy ASR^TM Hip program	—	139

Other	22	6

Earnings before provision for taxes on income - as adjusted	$ 5,801	5,630	3.0	%

Net Earnings - as reported	$ 4,292	4,320	(0.6)	%

Intangible asset amortization expense	205	226

Restructuring	120	—

Litigation expense/(gain), net	56	(253)

DePuy ASR^TM Hip program	—	122

Other	16	3

Net Earnings - as adjusted	$ 4,689	4,418	6.1	%

Diluted Net Earnings per share - as reported	$ 1.54	1.53	0.7	%

Intangible asset amortization expense	0.07	0.08

Restructuring	0.04	—

Litigation expense/(gain), net	0.02	(0.09)

DePuy ASR^TM Hip program	—	0.04

Other	0.01	—

Diluted Net Earnings per share - as adjusted	$ 1.68	1.56	7.7	%

Operational Diluted Net Earnings per share - as adjusted*	$ 1.72	1.56	10.3	%

* Excludes the effect of translational currency

⁽¹⁾ Includes $17M recorded in cost of products sold



Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure

Operational Sales Growth Excluding Acquisitions, Divestitures and Hepatitis C Sales ⁽¹⁾ (Underlying Sales Growth) ^(A)
FIRST QUARTER 2016 ACTUAL vs. 2015 ACTUAL

Segments

	Consumer	Pharmaceutical	Medical Devices	Total
	Operational %⁽²⁾
WW As Reported:	(0.2)%	8.5%	0.5%	3.9%
U.S.	(0.1)%	12.9%	2.2%	7.2%
International	(0.3)%	2.6%	(1.0)%	0.6%

Wound Care/Other
SPLENDA ^®	2.0			0.5
U.S.	4.1			0.7
International	0.7			0.2

Cardiovascular
Cordis			2.4	0.9
U.S.			1.1	0.4
International			3.5	1.3

Other Neuroscience
NUCYNTA ^®		0.5		0.2
U.S.		1.0		0.5
International		0.0		0.0

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

WW Ops excluding Acquisitions and Divestitures	1.9%	9.0%	3.0%	5.6%
U.S.	4.1%	13.9%	3.3%	8.8%
International	0.5%	2.6%	2.8%	2.2%

Hepatitis C		3.3		1.3
U.S.		2.3		1.0
International		4.5		1.6

WW Ops excluding Hepatitis C only		11.8%		5.2%
U.S.		15.2%		8.2%
International		7.1%		2.2%

WW Ops excluding Acquisitions, Divestitures and Hepatitis C	1.9%	12.3%	3.0%	6.9%
U.S.	4.1%	16.2%	3.3%	9.8%
International	0.5%	7.1%	2.8%	3.8%

⁽¹⁾ Hepatitis C products include OLYSIO ^® /SOVRIAD ^® and INCIVO ^®
⁽²⁾ Operational growth excludes the effect of translational currency

^(A) NON-GAAP FINANCIAL MEASURE “Operational sales growth excluding the net impact of acquisitions, divestitures and hepatitis C sales (underlying sales growth)” 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 magnitude of hepatitis C product sales over a short timeframe and the variable nature of acquisitions and divestitures and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods. The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry.



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		FIRST QUARTER
				% Change
		2016	2015	Reported		Operational⁽¹⁾		Currency
CONSUMER SEGMENT⁽²⁾

BABY CARE
US	$	95	111	(14.4	)%	(14.4	)%	—	%
Intl		356	400	(11.0	)	0.1		(11.1	)
WW		451	511	(11.7	)	(3.0	)	(8.7	)

ORAL CARE
US		170	158	7.6		7.6		—
Intl		215	245	(12.2	)	(2.9	)	(9.3	)
WW		385	403	(4.5	)	1.1		(5.6	)

OTC
US		461	405	13.8		13.8		—
Intl		558	588	(5.1	)	2.8		(7.9	)
WW		1,019	993	2.6		7.3		(4.7	)

SKIN CARE
US		488	492	(0.8	)	(0.8	)	—
Intl		374	411	(9.0	)	(0.7	)	(8.3	)
WW		862	903	(4.5	)	(0.7	)	(3.8	)

WOMEN'S HEALTH
US		6	6	0.0		0.0		—
Intl		245	281	(12.8	)	(0.9	)	(11.9	)
WW		251	287	(12.5	)	(0.9	)	(11.6	)

WOUND CARE/OTHER
US		138	187	(26.2	)	(26.2	)	—
Intl		89	106	(16.0	)	(8.4	)	(7.6	)
WW		227	293	(22.5	)	(19.7	)	(2.8	)

TOTAL CONSUMER
US		1,358	1,359	(0.1	)	(0.1	)	—
Intl		1,837	2,031	(9.6	)	(0.3	)	(9.3	)
WW	$	3,195	3,390	(5.8	)%	(0.2	)%	(5.6	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		FIRST QUARTER
				% Change
		2016	2015	Reported		Operational⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT⁽²⁾

IMMUNOLOGY
US	$	2,171	1,755	23.7	%	23.7	%	—	%
Intl		739	708	4.4		12.8		(8.4	)
WW		2,910	2,463	18.1		20.5		(2.4	)
REMICADE
US		1,211	1,055	14.8		14.8		—
US Exports⁽³⁾		233	181	28.7		28.7		—
Intl		335	364	(8.0	)	1.8		(9.8	)
WW		1,779	1,600	11.2		13.4		(2.2	)
SIMPONI / SIMPONI ARIA
US		216	155	39.4		39.4		—
Intl		174	145	20.0		27.6		(7.6	)
WW		390	300	30.0		33.7		(3.7	)
STELARA
US		511	364	40.4		40.4		—
Intl		224	185	21.1		27.3		(6.2	)
WW		735	549	33.9		36.0		(2.1	)
OTHER IMMUNOLOGY
US		—	—	—		—		—
Intl		6	14	(57.1	)	(48.4	)	(8.7	)
WW		6	14	(57.1	)	(48.4	)	(8.7	)

INFECTIOUS DISEASES
US		358	412	(13.1	)	(13.1	)	—
Intl		418	563	(25.8	)	(22.1	)	(3.7	)
WW		776	975	(20.4	)	(18.2	)	(2.2	)
EDURANT
US		11	9	22.2		22.2		—
Intl		108	82	31.7		35.3		(3.6	)
WW		119	91	30.8		34.1		(3.3	)
OLYSIO / SOVRIAD
US		16	98	(83.7	)	(83.7	)	—
Intl		16	136	(88.2	)	(87.1	)	(1.1	)
WW		32	234	(86.3	)	(85.7	)	(0.6	)
PREZISTA / PREZCOBIX / REZOLSTA
US		277	234	18.4		18.4		—
Intl		175	193	(9.3	)	(4.6	)	(4.7	)
WW		452	427	5.9		8.0		(2.1	)
OTHER INFECTIOUS DISEASES
US		54	71	(23.9	)	(23.9	)	—
Intl		119	152	(21.7	)	(16.7	)	(5.0	)
WW		173	223	(22.4	)	(19.0	)	(3.4	)

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		FIRST QUARTER
				% Change
		2016	2015	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (Continued)}

NEUROSCIENCE
US	$	680	750	(9.3	)%	(9.3	)%	—	%
Intl		869	868	0.1		5.4		(5.3	)
WW		1,549	1,618	(4.3	)	(1.4	)	(2.9	)
CONCERTA / METHYLPHENIDATE
US		134	126	6.3		6.3		—
Intl		97	98	(1.0	)	6.4		(7.4	)
WW		231	224	3.1		6.3		(3.2	)
INVEGA / PALIPERIDONE
US		24	94	(74.5	)	(74.5	)	—
Intl		62	61	1.6		5.3		(3.7	)
WW		86	155	(44.5	)	(43.0	)	(1.5	)
INVEGA SUSTENNA / XEPLION / INVEGA TRINZA
US		305	228	33.8		33.8		—
Intl		208	183	13.7		19.3		(5.6	)
WW		513	411	24.8		27.3		(2.5	)
RISPERDAL CONSTA
US		95	104	(8.7	)	(8.7	)	—
Intl		136	150	(9.3	)	(4.9	)	(4.4	)
WW		231	254	(9.1	)	(6.5	)	(2.6	)
OTHER NEUROSCIENCE
US		122	198	(38.4	)	(38.4	)	—
Intl		366	376	(2.7	)	2.6		(5.3	)
WW		488	574	(15.0	)	(11.5	)	(3.5	)

ONCOLOGY
US		549	334	64.4		64.4		—
Intl		805	774	4.0		9.8		(5.8	)
WW		1,354	1,108	22.2		26.3		(4.1	)
IMBRUVICA
US		132	66	100.0		100.0		—
Intl		129	50	*		*		**
WW		261	116	*		*		**
VELCADE
US		—	—	—		—		—
Intl		304	339	(10.3	)	(5.4	)	(4.9	)
WW		304	339	(10.3	)	(5.4	)	(4.9	)
ZYTIGA
US		272	253	7.5		7.5		—
Intl		286	303	(5.6	)	(0.1	)	(5.5	)
WW		558	556	0.4		3.4		(3.0	)
OTHER ONCOLOGY
US		145	15	*		*		—
Intl		86	82	4.9		11.2		(6.3	)
WW		231	97	*		*		**
See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		FIRST QUARTER
				% Change
		2016	2015	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (Continued)}

CARDIOVASCULAR / METABOLISM / OTHER
US	$	1,179	1,120	5.3	%	5.3	%	—	%
Intl		410	442	(7.2	)	(0.4	)	(6.8	)
WW		1,589	1,562	1.7		3.6		(1.9	)
XARELTO
US		567	441	28.6		28.6		—
Intl		—	—	—		—		—
WW		567	441	28.6		28.6		—
INVOKANA / INVOKAMET
US		297	266	11.7		11.7		—
Intl		28	12	*		*		**
WW		325	278	16.9		17.8		(0.9	)
PROCRIT / EPREX
US		183	163	12.3		12.3		—
Intl		91	106	(14.2	)	(8.7	)	(5.5	)
WW		274	269	1.9		4.1		(2.2	)
OTHER
US		132	250	(47.2	)	(47.2	)	—
Intl		291	324	(10.2	)	(3.5	)	(6.7	)
WW		423	574	(26.3	)	(22.5	)	(3.8	)

TOTAL PHARMACEUTICAL
US		4,937	4,371	12.9		12.9		—
Intl		3,241	3,355	(3.4	)	2.6		(6.0	)
WW	$	8,178	7,726	5.9	%	8.5	%	(2.6	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		FIRST QUARTER
				% Change
		2016	2015	Reported		Operational ⁽¹⁾		Currency
MEDICAL DEVICES ^{(2) (4)}

CARDIOVASCULAR
US	$	231	228	1.3	%	1.3	%	—	%
Intl		212	301	(29.6	)	(26.3	)	(3.3	)
WW		443	529	(16.3	)	(14.4	)	(1.9	)

DIABETES CARE
US		180	212	(15.1	)	(15.1	)	—
Intl		249	272	(8.5	)	(2.8	)	(5.7	)
WW		429	484	(11.4	)	(8.2	)	(3.2	)

DIAGNOSTICS
US		—	—	—		—		—
Intl		28	30	**		**		**
WW		28	30	**		**		**

ORTHOPAEDICS
US		1,392	1,309	6.3		6.3		—
Intl		949	1,019	(6.9	)	(1.4	)	(5.5	)
WW		2,341	2,328	0.6		3.0		(2.4	)

HIPS
US		203	190	6.8		6.8		—
Intl		139	143	(2.8	)	3.4		(6.2	)
WW		342	333	2.7		5.4		(2.7	)

KNEES
US		244	226	8.0		8.0		—
Intl		145	150	(3.3	)	2.1		(5.4	)
WW		389	376	3.5		5.7		(2.2	)

TRAUMA
US		381	364	4.7		4.7		—
Intl		261	292	(10.6	)	(4.9	)	(5.7	)
WW		642	656	(2.1	)	0.4		(2.5	)

SPINE & OTHER
US		564	529	6.6		6.6		—
Intl		404	434	(6.9	)	(1.8	)	(5.1	)
WW		968	963	0.5		2.8		(2.3	)

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		FIRST QUARTER
				% Change
		2016	2015	Reported		Operational ⁽¹⁾		Currency
MEDICAL DEVICES ^{(2) (4) (Continued)}

SURGERY
US	$	981	960	2.2	%	2.2	%	—
Intl		1,247	1,296	(3.8	)	2.3		(6.1	)
WW		2,228	2,256	(1.2	)	2.3		(3.5	)

ADVANCED
US		352	329	7.0		7.0		—
Intl		464	441	5.2		11.7		(6.5	)
WW		816	770	6.0		9.7		(3.7	)

GENERAL
US		419	422	(0.7	)	(0.7	)	—
Intl		651	711	(8.4	)	(2.8	)	(5.6	)
WW		1,070	1,133	(5.6	)	(2.1	)	(3.5	)

SPECIALTY
US		210	209	0.5		0.5		—
Intl		132	144	(8.3	)	(1.0	)	(7.3	)
WW		342	353	(3.1	)	(0.1	)	(3.0	)

VISION CARE
US		242	253	(4.3	)	(4.3	)	—
Intl		398	378	5.3		9.8		(4.5	)
WW		640	631	1.4		4.1		(2.7	)

TOTAL MEDICAL DEVICES
US		3,026	2,962	2.2		2.2		—
Intl		3,083	3,296	(6.5	)	(1.0	)	(5.5	)
WW	$	6,109	6,258	(2.4	)%	0.5	%	(2.9	)%

* Percentage greater than 100%
** Not meaningful
⁽¹⁾ Operational growth excludes the effect of translational currency
⁽²⁾ Unaudited
⁽³⁾ Reported as U.S. sales
⁽⁴⁾ Prior year amounts have been reclassified to conform to current year product disclosure

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