Current Report

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 13, 2009

 
 
(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 October 13, 2009, Johnson & Johnson issued the attached press release announcing its sales and earnings for the third quarter ended September 27, 2009.
 
Item 9.01            Financial Statements and Exhibits
 
Exhibit No.
 
Description of Exhibit
 
 
Press Release dated October 13, 2009 for the period ended September 27, 2009.
 
99.2O
 
Unaudited Comparative Supplementary Sales Data and Condensed Consolidated Statement of Earnings for the third 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: October 13, 2009
By:
/s/ Stephen J. Cosgrove
 
   
Stephen J. Cosgrove
Controller
(Principal Accounting Officer)
 


Exhibit 99.15

 
Johnson & Johnson Reports 2009 Third-Quarter Results:

Sales of $15.1 Billion Decreased 5.3% Versus 2008 Third Quarter
 EPS of $1.20 increased 2.6% Versus 2008 Third Quarter
 
New Brunswick, NJ (October 13, 2009) – Johnson & Johnson today announced sales of $15.1 billion for the third quarter of 2009, a decrease of 5.3% as compared to the third quarter of 2008. Operational results declined 2.8% and the negative impact of currency was 2.5%.  Domestic sales declined 8.1%, while international sales declined 2.5%, reflecting operational growth of 2.4% and a negative currency impact of 4.9%.
 
Net earnings and diluted earnings per share for the third quarter of 2009 were $3.3 billion and $1.20, respectively, representing increases of 1.1% and 2.6%, as compared to the same period in 2008.  The Company raised its earnings guidance for full-year 2009 to $4.54 - $4.59 per share, which excludes the impact of  special items.
 
“We continue to successfully manage our broad base of businesses and deliver solid earnings despite the impact of patent expirations and the challenges posed by the current economic environment,” said William C. Weldon, Chairman and Chief Executive Officer. “We completed multiple acquisitions and strategic collaborations and received several new product approvals in the quarter that will benefit patients worldwide and drive future growth.”
 
Worldwide Consumer sales of $4.0 billion for the third quarter represented a decrease of 2.7% versus the prior year with an increase of 1.1% operationally and a negative impact from currency of 3.8%. Domestic sales decreased 4.4%; international sales decreased 1.4%, which reflected an operational increase of 5.2% and a negative currency impact of 6.6%.
 
Contributing to operational sales growth during the quarter were sales of Dabao skin care products; AVEENO® skin care products; SPLENDA® No Calorie Sweetener; Le Petit Marseillais® beauty care products; and LISTERINE® antiseptic mouthrinse.  Other growth drivers were sales from the acquisition of Vania Expansion SNC.
 
Worldwide Pharmaceutical sales of $5.3 billion for the third quarter represented a decrease of 14.1%  versus the prior year with an operational decline of 11.9% and a negative impact from currency of 2.2%. Domestic sales decreased 19.2%; international sales decreased 7.1%, which reflected an operational decrease of 1.9% and a negative currency impact of 5.2%.
 
REMICADE® (infliximab), a biologic approved for the treatment of a number of immune mediated inflammatory diseases, demonstrated solid sales performance during the quarter. Several other pharmaceutical products had strong growth including  PREZISTA ® (darunavir), a treatment for HIV;  VELCADE® (bortezomib), a treatment for multiple myeloma; and RISPERDAL® CONSTA® (risperidone) Long-Acting Treatment, an antipsychotic medication. Sales results of TOPAMAX® (topiramate), an antiepileptic and a treatment for migraine, and RISPERDAL® (risperidone), an antipsychotic medication, were negatively impacted by generic competition.
 
During the quarter, the U.S. Food and Drug Administration (FDA) approved STELARA TM (ustekinumab) for the treatment of adult patients (18 years or older) with moderate to severe plaque psoriasis who are candidates for phototherapy or systemic therapy.  The FDA also approved INVEGA® SUSTENNA™ (paliperidone palmitate) extended-release injectable suspension for the acute and maintenance treatment of schizophrenia in adults; the first once-monthly, long-acting, injectable atypical antipsychotic approved in the U.S. for this use. In addition, the FDA approved the Supplemental New Drug Application for INVEGA® (paliperidone) extended-release tablets for the acute treatment of schizoaffective disorder either as monotherapy or adjunctive therapy to mood stabilizers and/or antidepressants.
 
On Oct. 6, the European Commission approved SIMPONI™ (golimumab) as a once-monthly, subcutaneous therapy for the treatment of moderate-to-severe, active rheumatoid arthritis, active and progressive psoriatic arthritis and severe, active ankylosing spondylitis.
 
During the quarter, the Company completed the acquisition of substantially all of the assets and rights of Elan related to its Alzheimer's Immunotherapy Program as well as an equity investment in Elan. Additionally, the Company announced that it had entered into a licensing and collaboration agreement with Gilead Sciences, Inc., for the development and commercialization of a new fixed dose combination of investigational compound TMC278 (rilpivirine hydrochloride 25 mg) and Gilead’s TRUVADA® (emtricitabine 200 mg/tenofovir disoproxil fumarate 300 mg) for treatment-naïve adult patients with HIV-1.
 
Early in the fourth quarter, the Company announced that it had entered into a strategic collaboration with Crucell, N.V., focusing on the discovery, development and commercialization of monoclonal antibodies and vaccines for the treatment and prevention of influenza and other infectious and non-infectious diseases. The agreement also included an 18% equity investment in Crucell, N.V.
 
Worldwide Medical Devices and Diagnostics sales of $5.8 billion for the third quarter represented an increase of 2.3% versus the prior year with an operational increase of 4.1% and a negative currency impact of 1.8%. Domestic sales increased 4.5%; international sales increased 0.5%, which reflected an operational increase of 3.8% and a negative currency impact of 3.3%.
 
Primary contributors to the operational growth included Ethicon’s surgical care  and aesthetics products; Ethicon Endo-Surgery’s minimally invasive products; DePuy’s orthopaedic joint reconstruction, spine, and sports medicine businesses; and Ortho-Clinical Diagnostics’ professional products. This growth was partially offset by lower sales in the Cordis franchise, reflecting strong competition in the drug-eluting stent market, and the 2008 divestiture of the Professional Wound Care products in our Ethicon business.
 
 
About Johnson & Johnson
 
Caring for the world, one person at a time…inspires and unites the people of Johnson & Johnson. We embrace research and science - bringing innovative ideas, products and services to advance the health and well-being of people. Our approximately 117,000 employees at more than 250 Johnson & Johnson companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.
 
 
NOTE TO INVESTORS
 
Johnson & Johnson will conduct a meeting with financial analysts to discuss this news release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the meeting for investors and other interested parties may be accessed by visiting the Johnson & Johnson website at www.investor.jnj.com . A replay and podcast will be available approximately two hours after
the live webcast by visiting www.investor.jnj.com .

Copies of the financial schedules accompanying this press release are available at www.investor.jnj.com/historical-sales.cfm . The schedules include supplementary sales data, a condensed consolidated statement of earnings, and sales of key products/franchises. Additional information on Johnson & Johnson can be found on the Company’s website at www.jnj.com .
 
 
(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Johnson & Johnson's expectations and projections. Risks and uncertainties include general industry conditions and competition; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of the Company's Annual Report on Form 10-K for the fiscal year ended December 28, 2008. Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov , www.jnj.com   or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statements as a result of new information or future events or developments.)
Exhibit 99.2O
 

 
Johnson & Johnson and Subsidiaries
         
Condensed Consolidated Statement of Earnings
         
     
 
               
     
 
 
 
 
 
 
 
   
(Unaudited; in Millions Except Per Share Figures)
THIRD QUARTER
                       
     
2009
 
2008
 
Percent
         
Percent
     
Percent
 
Increase
     
Amount
 
to Sales
 
Amount
 
to Sales
 
(Decrease)
Sales to customers
   
 $      15,081
 
100.0
 
 $      15,921
 
100.0
 
(5.3)
Cost of products sold
   
          4,434
 
29.4
 
          4,774
 
30.0
 
(7.1)
Selling, marketing and administrative expenses
4,767
 
31.6
 
5,195
 
32.6
 
(8.2)
Research expense
   
1,617
 
10.7
 
1,861
 
11.7
 
(13.1)
Interest (income)expense, net
 
114
 
0.7
 
25
 
0.2
   
Other (income)expense, net
   
(96)
 
(0.6)
 
(224)
 
             (1.4)
   
Earnings before provision for taxes on income
4,245
 
28.2
 
4,290
 
26.9
 
(1.0)
Provision for taxes on income
900
 
6.0
 
980
 
6.1
 
(8.2)
Net earnings
   
 $        3,345
 
22.2
 
 $       3,310
 
20.8
 
1.1
                       
Net earnings per share  (Diluted)
 $         1.20
     
 $         1.17
     
2.6
                       
Average shares outstanding  (Diluted)
2,793.0
     
2,831.3
       
                       
Effective tax rate
   
21.2
%
   
22.8
%
   
 

 
 
 
Johnson & Johnson and Subsidiaries
               
Condensed Consolidated Statement of Earnings
               
           
 
 
 
 
 
 
(Unaudited; in Millions Except Per Share Figures)
NINE MONTHS
                       
     
2009
 
2008
 
Percent
         
Percent
     
Percent
 
Increase
     
Amount
 
to Sales
 
Amount
 
to Sales
 
(Decrease)
Sales to customers
   
 $       45,346
 
100.0
 
 $       48,565
 
100.0
 
(6.6)
Cost of products sold
   
          13,135
 
29.0
 
          14,139
 
29.1
 
(7.1)
Selling, marketing and administrative expenses
          14,172
 
31.3
 
          15,825
 
32.6
 
(10.4)
Research expense
   
            4,773
 
10.5
 
            5,469
 
11.3
 
(12.7)
In-process research & development
 
                   -
 
             -
 
40
 
0.1
   
Interest (income)expense, net
 
              280
 
0.6
 
                57
 
0.1
   
Other (income)expense, net
 
             (165)
 
(0.4)
 
             (377)
 
(0.8)
 
 
Earnings before provision for taxes on income
13,151
 
29.0
 
13,412
 
27.6
 
(1.9)
Provision for taxes on income
 
            3,091
 
6.8
 
            3,177
 
6.5
 
(2.7)
Net earnings
   
 $       10,060
 
22.2
 
 $       10,235
 
21.1
 
(1.7)
                       
                     
 
Net earnings per share  (Diluted)
 
 $           3.61
     
 $           3.60
     
0.3
                       
Average shares outstanding  (Diluted)
 
2,787.9
     
2,847.8
       
                       
Effective tax rate
   
23.5
%
   
23.7
%
   
 
                       
Adjusted earnings before provision for taxes and net earnings (A)
     Earnings before provision for taxes  
 
 
 
 
 
 
 
        on income        $      13,151  
29.0
 
 $       13,452
 (1)
27.7
 
(2.2)
     Net earnings
   
 $       10,060
 
22.2
 
 $       10,275
 (1)
21.2
 
(2.1)
     Net earnings per share  (Diluted)
 
 $           3.61
     
 $           3.61
 (1)
 
0.0
     Effective tax rate
   
23.5
%     
23.6
%       
                       
(1) The difference between as reported earnings and as adjusted earnings before provision for taxes on income and net earnings and net earnings per share (diluted) is IPR&D of $40 million with no tax benefit and $0.01 per share, respectively.
 
             
(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, they may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as business development activities (including IPR&D at acquisition or upon attainment of milestones and any extraordinary expenses), strategic developments (including restructuring and product line changes), significant 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. These non-GAAP financial measures are presented solely to permit investors to more fully understand how management assesses the performance of the Company. 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 the effects of an acquisition, merger-related or other restructuring charges, or amortization of purchased intangibles, 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)
 
THIRD QUARTER
 
           
Percent Change
 
   
2009
   
2008
Total
   
Operations
   
Currency
 
Sales to customers by
                             
segment of business
                             
                               
Consumer
                             
    U.S.
  $ 1,691       1,769       (4.4 ) %     (4.4 )     -  
    International
    2,298       2,330     (1.4 )     5.2       (6.6 )
      3,989       4,099       (2.7 )     1.1       (3.8 )
                                         
Pharmaceutical
                                       
    U.S.
    2,857       3,538       (19.2 )     (19.2 )     -  
    International
    2,392       2,575       (7.1 )     (1.9 )     (5.2 )
      5,249       6,113       (14.1 )     (11.9 )     (2.2 )
                                         
Med Devices & Diagnostics
                                       
    U.S.
    2,766       2,648       4.5       4.5       -  
    International
    3,077       3,061       0.5       3.8       (3.3 )
 
    5,843       5,709       2.3       4.1       (1.8 )
                                         
U.S.
    7,314       7,955       (8.1 )     (8.1 )     -  
International
    7,767       7,966       (2.5 )     2.4       (4.9 )
Worldwide
  $ 15,081       15,921       (5.3 ) %     (2.8 )     (2.5 )
 

 
 
 

Johnson & Johnson and Subsidiaries
 
Supplementary Sales Data
                             
   
(Unaudited; Dollars in Millions)
  NINE MONTHS  
               
Percent Change
 
   
2009
   
2008
   
Total
   
Operations
   
Currency
 
Sales to customers by
                             
segment of business
                             
                               
Consumer
                             
    U.S.
  $ 5,125       5,282       (3.0 ) %     (3.0 )     -  
    International
    6,429       6,917       (7.1 )     4.1       (11.2 )
      11,554       12,199       (5.3 )     1.0       (6.3 )
                                         
Pharmaceutical
                                       
    U.S.
    9,703       11,401       (14.9 )     (14.9 )     -  
    International
    6,824       7,481       (8.8 )     1.4       (10.2 )
      16,527       18,882       (12.5 )     (8.5 )     (4.0 )
                                         
Med Devices & Diagnostics
                                       
    U.S.
    8,194       7,959       3.0       3.0       -  
    International
    9,071       9,525       (4.8 )     3.7       (8.5 )
 
    17,265       17,484       (1.3 )     3.3       (4.6 )
                                         
U.S.
    23,022       24,642       (6.6 )     (6.6 )     -  
International
    22,324       23,923       (6.7 )     3.1       (9.8 )
Worldwide
  $ 45,346       48,565       (6.6 ) %     (1.8 )     (4.8 )
 

 
 
 

Johnson & Johnson and Subsidiaries
 
Supplementary Sales Data
                             
   
(Unaudited; Dollars in Millions)
 
THIRD QUARTER
 
               
Percent Change
 
   
2009
   
2008
   
Total
   
Operations
   
Currency
 
Sales to customers by
                             
geographic area
                             
                               
U.S.
  $ 7,314       7,955       (8.1 ) %     (8.1 )     -  
                                         
Europe
    3,879       4,076       (4.8 )     2.1       (6.9 )
Western Hemisphere excluding U.S.
    1,338       1,461       (8.4 )     1.5       (9.9 )
Asia-Pacific, Africa
    2,550       2,429       5.0       3.5       1.5  
International
    7,767       7,966       (2.5 )     2.4       (4.9 )
                                         
Worldwide
  $ 15,081       15,921       (5.3 ) %     (2.8 )     (2.5 )

 
 
 

Johnson & Johnson and Subsidiaries
 
Supplementary Sales Data
                   
(Unaudited; Dollars in Millions)
  NINE MONTHS  
               
Percent Change
 
 
2009
   
2008
   
Total
   
Operations
   
Currency
 
Sales to customers by
                             
geographic area
                             
                               
U.S.
  $ 23,022       24,642       (6.6 ) %     (6.6 )     -  
                                         
Europe
    11,522       12,931       (10.9 )     1.2       (12.1 )
Western Hemisphere excluding U.S.
    3,615       3,986       (9.3 )     5.8       (15.1 )
Asia-Pacific, Africa
    7,187       7,006       2.6       5.1       (2.5 )
International
    22,324       23,923       (6.7 )     3.1       (9.8 )
                                         
Worldwide
  $ 45,346       48,565       (6.6 ) %     (1.8 )     (4.8 )

 
 
 
 

            REPORTED SALES vs. PRIOR PERIOD
            $MM
                   
         
THIRD QUARTER
             
% Change
         
2009
2008
Reported
Operational (1)
Currency
                   
CONSUMER SEGMENT (2)
           
                   
SKIN CARE
               
US
       
370
358
3.4%
3.4%
             -
Intl
       
472
500
(5.6%)
(0.1%)
(5.5%)
WW
       
842
858
(1.9%)
1.3%
(3.2%)
                   
BABY CARE
               
US
       
102
114
(10.5%)
(10.5%)
             -
Intl
       
442
472
(6.4%)
(0.7%)
(5.7%)
WW
       
544
586
(7.2%)
(2.6%)
(4.6%)
                   
ORAL CARE
               
US
       
187
204
(8.3%)
(8.3%)
             -
Intl
       
223
230
(3.0%)
4.8%
(7.8%)
WW
       
410
434
(5.5%)
(1.4%)
(4.1%)
                   
OTC/NUTRITIONALS
             
US
       
732
778
(5.9%)
(5.9%)
             -
Intl
       
666
661
0.8%
8.0%
(7.2%)
WW
       
1,398
1,439
(2.8%)
0.5%
(3.3%)
                   
WOMEN'S HEALTH
             
US
       
142
164
(13.4%)
(13.4%)
             -
Intl
       
360
346
4.0%
11.7%
(7.7%)
WW
       
502
510
(1.6%)
3.6%
(5.2%)
                   
WOUND CARE / OTHER
           
US
       
158
151
4.6%
4.6%
             -
Intl
       
135
121
11.6%
18.0%
(6.4%)
WW
       
293
272
7.7%
10.5%
(2.8%)
                   
TOTAL CONSUMER
             
US
       
1,691
1,769
(4.4%)
(4.4%)
             -
Intl
       
2,298
2,330
(1.4%)
5.2%
(6.6%)
WW
       
3,989
4,099
(2.7%)
1.1%
(3.8%)
                   
Note: See footnotes at end of schedule
           

 
            REPORTED SALES vs. PRIOR PERIOD
            $MM
                   
         
NINE MONTHS
             
% Change
         
2009
2008
Reported
Operational (1)
Currency
                   
CONSUMER SEGMENT (2)
           
                   
SKIN CARE
               
US
       
1,204
1,119
7.6%
7.6%
             -
Intl
       
1,313
1,418
(7.4%)
3.0%
(10.4%)
WW
       
2,517
2,537
(0.8%)
5.0%
(5.8%)
                   
BABY CARE
               
US
       
308
340
(9.4%)
(9.4%)
             -
Intl
       
1,233
1,351
(8.7%)
0.7%
(9.4%)
WW
       
1,541
1,691
(8.9%)
(1.4%)
(7.5%)
                   
ORAL CARE
               
US
       
549
588
(6.6%)
(6.6%)
             -
Intl
       
612
640
(4.4%)
8.3%
(12.7%)
WW
       
1,161
1,228
(5.5%)
1.1%
(6.6%)
                   
OTC/NUTRITIONALS
             
US
       
2,137
2,299
(7.0%)
(7.0%)
             -
Intl
       
1,919
2,139
(10.3%)
1.8%
(12.1%)
WW
       
4,056
4,438
(8.6%)
(2.8%)
(5.8%)
                   
WOMEN'S HEALTH
             
US
       
443
470
(5.7%)
(5.7%)
             -
Intl
       
963
1,005
(4.2%)
7.2%
(11.4%)
WW
       
1,406
1,475
(4.7%)
3.1%
(7.8%)
                   
WOUND CARE / OTHER
           
US
       
484
466
3.9%
3.9%
             -
Intl
       
389
364
6.9%
18.8%
(11.9%)
WW
       
873
830
5.2%
10.5%
(5.3%)
                   
TOTAL CONSUMER
             
US
       
5,125
5,282
(3.0%)
(3.0%)
             -
Intl
       
6,429
6,917
(7.1%)
4.1%
(11.2%)
WW
       
11,554
12,199
(5.3%)
1.0%
(6.3%)
                   
Note: See footnotes at end of schedule
           

            REPORTED SALES vs. PRIOR PERIOD
            $MM
                   
         
THIRD QUARTER
             
% Change
         
2009
2008
Reported
Operational (1)
Currency
PHARMACEUTICAL SEGMENT  (2)
           

ACIPHEX/PARIET
               
US
       
131
130
0.8%
0.8%
             -
Intl
       
130
152
(14.5%)
(9.0%)
(5.5%)
WW
       
261
282
(7.4%)
(4.4%)
(3.0%)
         
 
 
     
CONCERTA
               
US
       
205
190
7.9%
7.9%
             -
Intl
       
79
208
(62.0%)
(59.2%)
(2.8%)
WW
       
284
398
(28.6%)
(27.2%)
(1.4%)
                   
DURAGESIC/FENTANYL TRANSDERMAL
           
US
       
38
54
(29.6%)
(29.6%)
             -
Intl
       
168
205
(18.0%)
(15.2%)
(2.8%)
WW
       
206
259
(20.5%)
(18.3%)
        (2.2%)
                   
LEVAQUIN/FLOXIN
               
US
       
294
313
(6.1%)
(6.1%)
             -
Intl
       
17
20
(15.0%)
0.3%
(15.3%)
WW
       
311
333
(6.6%)
(5.7%)
(0.9%)
                   
PROCRIT/EXPREX
             
US
       
299
334
(10.5%)
(10.5%)
             -
Intl
       
243
285
(14.7%)
(9.6%)
(5.1%)
WW
       
542
619
(12.4%)
(10.0%)
(2.4%)
           
 
     
RAZADYNE/REMINYL
             
US
       
1
31
(96.8%)
(96.8%)
             -
Intl
       
96
107
(10.3%)
(3.8%)
(6.5%)
WW
       
97
138
(29.7%)
(24.7%)
(5.0%)
           
 
     
REMICADE
               
US
       
822
778
5.7%
5.7%
             -
US Exports (4)
     
208
198
5.1%
5.1%
             -
Intl
       
6
2
200.0%
198.7%
1.3%
WW
       
1,036
978
5.9%
5.9%
             -
 
Note: See footnotes at end of schedule
 
 
            REPORTED SALES vs. PRIOR PERIOD
            $MM
                   
         
THIRD QUARTER
             
% Change
         
2009
2008
Reported
Operational (1)
Currency
PHARMACEUTICAL SEGMENT  (2) (CONTINUED)
           
 
RISPERDAL/RISPERIDONE
           
US
       
35
122
(71.3%)
(71.3%)
             -
Intl
       
157
198
(20.7%)
(21.4%)
0.7%
WW
       
192
320
(40.0%)
(40.4%)
0.4%
           
 
     
RISPERDAL CONSTA
             
US
       
129
118
9.3%
9.3%
             -
Intl
       
224
220
1.8%
10.2%
(8.4%)
WW
       
353
338
4.4%
9.9%
(5.5%)
           
 
     
TOPAMAX
               
US
       
72
606
(88.1%)
(88.1%)
             -
Intl
       
103
122
(15.6%)
(7.9%)
(7.7%)
WW
       
175
728
(76.0%)
(74.7%)
(1.3%)
           
 
     
VELCADE
               
US
       
-
1
(100.0%)
(100.0%)
             -
Intl
       
231
189
22.2%
31.1%
(8.9%)
WW
       
231
190
21.6%
30.5%
(8.9%)
                   
OTHER
                 
US
       
623
663
(6.0%)
(6.0%)
             -
Intl
       
938
867
8.2%
13.6%
(5.4%)
WW
       
1,561
1,530
2.0%
5.1%
(3.1%)
           
 
     
TOTAL PHARMACEUTICAL
           
US
       
2,857
3,538
(19.2%)
(19.2%)
             -
Intl
       
2,392
2,575
(7.1%)
(1.9%)
(5.2%)
WW
       
5,249
6,113
(14.1%)
(11.9%)
(2.2%)
                   
MAJOR NEW PHARMACEUTICAL PRODUCTS (5)
       
                   
PREZISTA
                 
US
       
78
34
129.4%
129.4%
             -
Intl
       
73
45
62.2%
77.0%
(14.8%)
WW
       
151
79
91.1%
99.5%
(8.4%)
                   
INVEGA
                 
US
       
61
73
(16.4%)
(16.4%)
             -
Intl
       
36
16
125.0%
142.5%
(17.5%)
WW
       
97
89
9.0%
12.3%
(3.3%)
                   
Note: See footnotes at end of schedule
           
 


 
            REPORTED SALES vs. PRIOR PERIOD
            $MM
                   
         
NINE MONTHS
             
% Change
         
2009
2008
Reported
Operational (1)
Currency
PHARMACEUTICAL SEGMENT  (2)
           

ACIPHEX/PARIET
             
US
     
397
399
(0.5%)
(0.5%)
             -
Intl
     
387
485
(20.2%)
(9.3%)
(10.9%)
WW
     
784
884
(11.3%)
(5.3%)
(6.0%)
       
 
 
     
CONCERTA
             
US
     
707
622
13.7%
13.7%
             -
Intl
     
238
345
(31.0%)
(20.8%)
(10.2%)
WW
     
945
967
(2.3%)
1.3%
(3.6%)
       
 
 
     
DURAGESIC/FENTANYL TRANSDERMAL
         
US
     
163
199
(18.1%)
(18.1%)
             -
Intl
     
492
565
(12.9%)
(4.3%)
(8.6%)
WW
     
655
764
(14.3%)
(8.0%)
(6.3%)
                 
LEVAQUIN/FLOXIN
             
US
     
1,045
1,117
(6.4%)
(6.4%)
             -
Intl
     
53
63
(15.9%)
1.4%
(17.3%)
WW
     
1,098
1,180
(6.9%)
(6.0%)
(0.9%)
                 
PROCRIT/EXPREX
           
US
     
950
1,014
(6.3%)
(6.3%)
             -
Intl
     
719
886
(18.8%)
(9.0%)
(9.8%)
WW
     
1,669
1,900
(12.2%)
(7.6%)
(4.6%)
       
 
       
RAZADYNE/REMINYL
           
US
     
30
123
(75.6%)
(75.6%)
             -
Intl
     
275
316
(13.0%)
(1.2%)
(11.8%)
WW
     
305
439
(30.5%)
(22.0%)
(8.5%)
       
 
       
REMICADE
             
US
     
2,330
2,138
9.0%
9.0%
             -
US Exports (4)
   
821
718
14.3%
14.3%
             -
Intl
     
15
6
150.0%
145.8%
4.2%
WW
     
3,166
2,862
10.6%
10.6%
             -
 
Note: See footnotes at end of schedule
 
            REPORTED SALES vs. PRIOR PERIOD
            $MM
                   
         
NINE MONTHS
             
% Change
         
2009
2008
Reported
Operational (1)
Currency
PHARMACEUTICAL SEGMENT  (2) (CONTINUED)
           
 
RISPERDAL/RISPERIDONE
         
US
     
223
1,196
(81.4%)
(81.4%)
             -
Intl
     
483
645
(25.1%)
(21.3%)
(3.8%)
WW
     
706
1,841
(61.7%)
(60.4%)
(1.3%)
       
 
 
     
RISPERDAL CONSTA
           
US
     
386
339
13.9%
13.9%
             -
Intl
     
640
651
(1.7%)
12.6%
(14.3%)
WW
     
1,026
990
3.6%
13.0%
(9.4%)
       
 
 
     
TOPAMAX
             
US
     
642
1,674
(61.6%)
(61.6%)
             -
Intl
     
317
377
(15.9%)
(3.5%)
(12.4%)
WW
     
959
2,051
(53.2%)
(50.9%)
(2.3%)
       
 
 
     
VELCADE
             
US
     
-
4
(100.0%)
(100.0%)
             -
Intl
     
652
575
13.4%
26.7%
(13.3%)
WW
     
652
579
12.6%
25.8%
(13.2%)
                 
OTHER
               
US
     
2,009
1,858
8.1%
8.1%
             -
Intl
     
2,553
2,567
(0.5%)
9.2%
(9.7%)
WW
     
4,562
4,425
3.1%
8.8%
(5.7%)
       
 
 
     
TOTAL PHARMACEUTICAL
         
US
     
9,703
11,401
(14.9%)
(14.9%)
             -
Intl
     
6,824
7,481
(8.8%)
1.4%
(10.2%)
WW
     
16,527
18,882
(12.5%)
(8.5%)
(4.0%)
                 
MAJOR NEW PHARMACEUTICAL PRODUCTS (5)
                 
PREZISTA
             
US
     
215
109
97.2%
97.2%
             -
Intl
     
198
132
50.0%
70.0%
(20.0%)
WW
     
413
241
71.4%
82.3%
(10.9%)
                 
INVEGA
               
US
     
194
192
1.0%
1.0%
             -
Intl
     
93
39
138.5%
168.1%
(29.6%)
WW
     
287
231
24.2%
29.2%
(5.0%)
                 
Note: See footnotes at end of schedule
         

 
 
 

            REPORTED SALES vs. PRIOR PERIOD
            $MM
                   
         
THIRD QUARTER
             
% Change
         
2009
2008
Reported
Operational (1)
Currency
MEDICAL DEVICES AND DIAGNOSTICS    (2) (3)
         
                   
CORDIS (6)
               
US
       
233
259
(10.0%)
(10.0%)
             -
Intl
       
407
431
(5.6%)
(4.6%)
(1.0%)
WW
       
640
690
(7.2%)
(6.6%)
(0.6%)
                   
DEPUY
                 
US
       
740
698
6.0%
6.0%
             -
Intl
       
544
533
2.1%
7.6%
(5.5%)
WW
       
1,284
1,231
4.3%
6.7%
(2.4%)
                   
DIABETES CARE
               
US
       
332
349
(4.9%)
(4.9%)
             -
Intl
       
302
318
(5.0%)
(0.4%)
(4.6%)
WW
       
634
667
(4.9%)
(2.7%)
(2.2%)
                   
ETHICON
               
US
       
439
372
18.0%
18.0%
             -
Intl
       
580
585
(0.9%)
3.8%
(4.7%)
WW
       
1,019
957
6.5%
9.4%
(2.9%)
                   
ETHICON ENDO-SURGERY
           
US
       
499
473
5.5%
5.5%
             -
Intl
       
607
569
6.7%
10.9%
(4.2%)
WW
       
1,106
1,042
6.1%
8.4%
(2.3%)
                   
ORTHO-CLINICAL DIAGNOSTICS
           
US
       
285
261
9.2%
9.2%
             -
Intl
       
216
209
3.3%
7.0%
(3.7%)
WW
       
501
470
6.6%
8.2%
(1.6%)
                   
VISION CARE
               
US
       
238
236
0.8%
0.8%
             -
Intl
       
421
416
1.2%
(0.2%)
1.4%
WW
       
659
652
1.1%
0.2%
0.9%
                   
TOTAL MEDICAL DEVICES AND DIAGNOSTICS
         
US
       
2,766
2,648
4.5%
4.5%
             -
Intl
       
3,077
3,061
0.5%
3.8%
(3.3%)
WW
       
5,843
5,709
2.3%
4.1%
(1.8%)
 
Note: See footnotes at end of schedule

 
 
 
            REPORTED SALES vs. PRIOR PERIOD
            $MM
                   
         
NINE MONTHS
             
% Change
         
2009
2008
Reported
Operational (1)
Currency
MEDICAL DEVICES AND DIAGNOSTICS    (2) (3)
                   
CORDIS (6)
               
US
     
731
929
(21.3%)
(21.3%)
             -
 
Intl
     
1,251
1,375
(9.0%)
(3.9%)
(5.1%)
 
WW
     
1,982
2,304
(14.0%)
(10.9%)
(3.1%)
 
                   
DEPUY
                 
US
     
2,268
2,129
6.5%
6.5%
             -
 
Intl
     
1,631
1,717
(5.0%)
6.8%
(11.8%)
 
WW
     
3,899
3,846
1.4%
6.7%
(5.3%)
 
                   
DIABETES CARE
               
US
     
908
990
(8.3%)
(8.3%)
             -
 
Intl
     
877
966
(9.2%)
0.2%
(9.4%)
 
WW
     
1,785
1,956
(8.7%)
(4.1%)
(4.6%)
 
                   
ETHICON
               
US
     
1,296
1,087
19.2%
19.2%
             -
 
Intl
     
1,717
1,835
(6.4%)
3.6%
(10.0%)
 
WW