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Financial Report: Johnson & Johnson 4Q

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Johnson & Johnson

4Q Revenues: $15.2 billion (-5%)

4Q Earnings: $2.7 billion (+13%)

FY Revenues: $63.7 billion (+4%)

FY Earnings: $12.9 billion (+22%)

Comments: Pharmaceutical sales were $5.7 billion in the quarter (-11%) and $24.6 billion for the year (-1%). Domestic sales were down 5%, while international sales increased 5% (0.1% from operations and 5% from currency). Velcade sales were $208 million in the quarter (+26%) and $787 million for the year (+47%). Risperdal Consta sales were $319 million in the quarter (+8%) and $1.3 billion for the year (+16%). Topamax sales were $680 million in the quarter (+4%) and $2.7 billion for the year (+11%). Sales Risperdal were down 67% to $285 million in the quarter and down 38% for the year, due to generic competition. Sales of Procrit were down 11% to $560 million in the quarter, and down 15% for the year, due to a decline in the market. Earnings include in-process R&D writeoffs of $141 million in the quarter and $181 million for the year, as well as an after-tax gain of $229 million representing the impact of litigation settlements in 4Q08.

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