FOR IMMEDIATE RELEASE
- 2021 Fourth-Quarter Sales of $24.8 Billion reflecting growth of 10.4%, operational sales growth of 11.6%*, and adjusted operational sales growth of 12.3%*
- 2021 Full-Year Sales of $93.8 Billion reflecting growth of 13.6%, operational sales growth of 12.2%*, and adjusted operational sales growth of 12.8%*
- 2021 Fourth-Quarter EPS of $1.77 increased 172.3%; adjusted EPS of $2.13 increased 14.5%*
- 2021 Full-Year EPS of $7.81 increased 41.7%; adjusted EPS of $9.80 increased 22.0%*
- Company guides 2022 adjusted operational sales growth of 7.7%* and adjusted operational EPS growth of 9.2%*
New Brunswick, N.J. (January 25, 2022) - Johnson & Johnson (NYSE: JNJ) today announced results for fourth- quarter and full year 2021. "Our 2021 performance reflects continued strength across all segments of our business. Guided by Our Credo, I am honored to assume the role of CEO, leading our global teams in continuing our work to deliver life-changing solutions to consumers, patients, and health care providers" said Joaquin Duato, Chief Executive Officer. "Given our strong results, financial profile, and innovative pipeline we are well positioned for success in 2022 and beyond."
OVERALL FINANCIAL RESULTS
Q4 | Full Year | |||||||||||
($ in Millions, except EPS) | 2021 | 2020 | % Change | 2021 | 2020 | % Change | ||||||
Reported Sales | $ | 24,804 | $ | 22,475 | 10.4% | $ | 93,775 | $ | 82,584 | 13.6% | ||
Net Earnings | 4,736 | 1,738 | 172.5% | 20,878 | 14,714 | 41.9% | ||||||
EPS (diluted) | $ | 1.77 | $ | 0.65 | 172.3% | $ | 7.81 | $ | 5.51 | 41.7% | ||
Q4 | Full Year | ||||||||||||
Non-GAAP* ($ in Millions, except EPS) | 2021 | 2020 | % Change | 2021 | 2020 | % Change | |||||||
Operational Sales 1,2 | 11.6% | 12.2% | |||||||||||
Adjusted Operational Sales 1,3 | 12.3% | 12.8% | |||||||||||
Adjusted Net Earnings 1,4 | 5,678 | 4,965 | 14.4% | 26,195 | 21,433 | 22.2% | |||||||
Adjusted EPS (diluted)1,4 | $ | 2.13 | $ | 1.86 | 14.5% | $ | 9.80 | $ | 8.03 | 22.0% |
REGIONAL SALES RESULTS
Q4 | % Change | ||||||||
Adjusted | |||||||||
($ in Millions) | 2021 | 2020 | Reported | Operational1,2 | Currency | Operational1,3 | |||
U.S. | $ | 12,163 | $ | 11,809 | 3.0% | 3.0 | - | 3.1 | |
International | 12,641 | 10,666 | 18.5% | 21.2 | (2.7) | 22.4 | |||
Worldwide | $ | 24,804 | $ | 22,475 | 10.4% | 11.6 | (1.2) | 12.3 | |
Full Year | % Change | ||||||||
Adjusted | |||||||||
($ in Millions) | 2021 | 2020 | Reported | Operational1,2 | Currency | Operational1,3 | |||
U.S. | $ | 47,156 | $ | 43,133 | 9.3% | 9.3 | - | 9.5 | |
International | 46,619 | 39,451 | 18.2% | 15.3 | 2.9 | 16.6 | |||
Worldwide | $ | 93,775 | $ | 82,584 | 13.6% | 12.2 | 1.4 | 12.8 | |
SEGMENT SALES RESULTS
Q4 | % Change | ||||||||
Operational1,2 | Adjusted | ||||||||
($ in Millions) | 2021 | 2020 | Reported | Currency | Operational1,3 | ||||
Consumer Health | $ | 3,657 | $ | 3,618 | 1.1% | 1.8 | (0.7) | 2.9 | |
Pharmaceutical | 14,288 | 12,268 | 16.5% | 17.9 | (1.4) | 18.6 | |||
Medical Devices | 6,859 | 6,589 | 4.1% | 5.3 | (1.2) | 5.6 | |||
Worldwide | $ | 24,804 | $ | 22,475 | 10.4% | 11.6 | (1.2) | 12.3 | |
Full Year | % Change | ||||||||
Operational1,2 | Adjusted | ||||||||
($ in Millions) | 2021 | 2020 | Reported | Currency | Operational1,3 | ||||
Consumer Health | $ | 14,635 | $ | 14,053 | 4.1% | 2.8 | 1.3 | 3.8 | |
Pharmaceutical | 52,080 | 45,572 | 14.3% | 13.1 | 1.2 | 13.6 | |||
Medical Devices | 27,060 | 22,959 | 17.9% | 16.2 | 1.7 | 16.8 | |||
Worldwide | $ | 93,775 | $ | 82,584 | 13.6% | 12.2 | 1.4 | 12.8 | |
- Non-GAAPfinancial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
- Excludes the impact of translational currency
- Excludes the net impact of acquisitions and divestitures and translational currency
- Excludes intangible amortization expense and special items Note: values may have been rounded
FULL YEAR 2021 SEGMENT COMMENTARY:
Consumer Health
Consumer Health worldwide adjusted operational sales increased 3.8%* primarily driven by over-the-counter (OTC) products including TYLENOL analgesics and digestive health, in addition to NEUTROGENA and AVEENO products in Skin Health / Beauty primarily due to COVID-19 market recovery. The growth was partially offset by external supply constraints mainly impacting Skin Health / Beauty.
Pharmaceutical
Pharmaceutical worldwide adjusted operational sales grew 13.6%* driven by DARZALEX (daratumumab), a biologic for the treatment of multiple myeloma, STELARA (ustekinumab), a biologic for the treatment of a number of immune- mediated inflammatory diseases, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, and for adults with active psoriatic arthritis, ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer, and INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults. Also contributing to growth were sales of the Janssen COVID-19 Vaccine (Ad26.COV2.S) for the treatment of the SARS-CoV-2 virus. This growth was partially offset by declines in U.S. sales of REMICADE (infliximab), a biologic approved for the treatment of a number of immune- mediated inflammatory diseases.
Medical Devices
Medical Devices worldwide adjusted operational sales grew 16.8%*, driven primarily by the market recovery from COVID-19 impacts and the associated deferral of medical procedures in the prior year across all of our businesses including Surgery, Interventional Solutions, Vision and Orthopaedics.
NOTABLE NEW ANNOUCEMENTS IN THE QUARTER:
The information contained in this section should be read in conjunction 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 Investors section of the company's website at news releases, as well as www.factsabouttalc.com,www.factsaboutourprescriptionopioids.com, and www.LTLManagementInformation.com.
European Commission Approves BYANNLI® (6-monthly Paliperidone Palmitate; PP6M) for | (press release) | |
the Maintenance Treatment of Schizophrenia in Adults | ||
U.S. FDA Approves DARZALEX FASPRO® (daratumumab and hyaluronidase-fihj) in | ||
Combination with Carfilzomib and Dexamethasone for Patients with Multiple Myeloma After | (press release) | |
First or Subsequent Relapse | ||
Janssen EMEA Receives Conditional Marketing Authorisation for RYBREVANT® | ||
(amivantamab), the First Treatment Approved for Patients with Advanced NonSmall Cell | (press release) | |
Lung Cancer (NSCLC) with EGFR Exon 20 Insertion Mutations After Failure of Platinum- | ||
Regulatory | Based Therapy | |
Johnson & Johnson COVID-19 Vaccine Booster Shot Authorized for Emergency Use by U.S. | ||
Decisions | (press release) | |
FDA | ||
World Health Organization Strategic Advisory Group of Experts (SAGE) Interim | (press release) | |
Recommendation Supports Use of Johnson & Johnson COVID-19 Vaccine as a Booster | ||
Johnson & Johnson Announces Positive CHMP Opinion for a Booster Shot of its COVID-19 | (press release) | |
Vaccine | ||
FDA Approves Two New Indications for XARELTO® (rivaroxaban) to Help Prevent and Treat | (press release) | |
Blood Clots in Pediatric Patients | ||
U.S. FDA Approves New MENTOR® MemoryGel BOOST™ Breast Implant1 | (press release) | |
Janssen Seeks Approval of IMBRUVICA® (ibrutinib) in a Fixed-Duration Regimen for | (press release) | |
Regulatory | Patients with Untreated Chronic Lymphocytic Leukaemia (CLL) (EU) | |
Submissions | ||
Janssen Submits Biologics License Application to U.S. FDA Seeking Approval of | (press release) | |
Teclistamab for the Treatment of Patients with Relapsed or Refractory Multiple Myeloma | ||
Johnson & Johnson Announces Plans to Accelerate Innovation, Serve Patients and | (press release) | |
Consumers, and Unlock Value through Intent to Separate Consumer Health Business | ||
Johnson & Johnson Appoints Senior Leaders to Executive Committee | (press release) | |
Other | ||
Johnson & Johnson announces significant progress towards its climate goals - 100% | (press release) | |
renewable electricity for all sites in the United States, Canada and Europe by 2023 | ||
Johnson & Johnson Medical Devices Companies Announces Strategic Partnership with | (press release) | |
Microsoft to Further Enable its Digital Surgery Solutions1 | ||
Johnson & Johnson COVID-19 Booster, Administered Six Months After Two-Dose Regimen
of BNT162b2, Shows Substantial Increase in Antibody and T-cell Responses
(press release)
Johnson & Johnson Enters into Agreement to Provide its Single-ShotCOVID-19 Vaccine for
the World's Most Vulnerable People through Novel Humanitarian Buffer
(press release)
Johnson & Johnson COVID-19 Vaccine Demonstrates 85 Percent Effectiveness against
Hospitalization in South Africa when Omicron was Dominant
1Subsequent to the quarter
FULL-YEAR 2022 GUIDANCE:
(press release)
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.
($ in Billions, except EPS) | January 2022 | January 2022 | January 2022 | ||
(ex. COVID Vx) | (COVID Vx) | (incl. COVID Vx) | |||
Adjusted Operational | |||||
Sales1,2 | 6.5% | - 7.5% | 7.0% | - 8.5% | |
Change vs. Prior Year | |||||
Operational Sales2 | $97.3B | - $98.3B | $3.0B - $3.5B | $100.3B | - $101.8B |
Change vs. Prior Year | 6.5% | - 7.5% | 7.0% | - 8.5% | |
Estimated Reported Sales3 | $95.9B - $96.9B | $3.0B - $3.5B | $98.9B - $100.4B | ||
Change vs. Prior Year | 5.0% | - 6.0% | 5.5% | - 7.0% | |
Adjusted Operational EPS | $10.60 - $10.80 | ||||
(Diluted)2,4 | |||||
8.2% - 10.2% | |||||
Change vs. Prior Year | |||||
Adjusted EPS (Diluted)3,4 | $10.40 - $10.60 | ||||
Change vs. Prior Year | 6.1% | - 8.2% | |||
- Non-GAAPfinancial measure; excludes the net impact of acquisitions and divestitures
- Non-GAAPfinancial measure; excludes the impact of translational currency
- Calculated using Euro Average Rate: January 2022 = $1.14 (Illustrative purposes only)
- Non-GAAPfinancial measure; excludes intangible amortization expense and special items Note: % may have been rounded
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Johnson & Johnson published this content on 25 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 January 2022 11:56:07 UTC.