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Financial Report: Johnson & Johnson

Negative currency, Hep C hit impacts results

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By: Kristin Brooks

Managing Editor, Contract Pharma

Johnson & Johnson

3Q Revenues: $17.1 billion (-7%)

3Q Earnings: $3.4 billion (-29%)

YTD Revenue: $52.3 billion (-7%)

YTD Earnings: $12.2 billion (-12%)

Comments: Worldwide Pharmaceutical sales were $7.7 billion in the quarter, down 7%, with a negative currency impact of 7%. Remicade sales were $1.6 billion in the quarter, down 10%. Sales of Hep C drug OLYSIO/SOVRIAD sunk 90% to $79 million due to competitive entrants (namely Gilead’s Harvoni). Stelara sales were $613 million, up 13%. SIMPONI sales were $380 million, up 27%. INVEGASUSTENNA/XEPLION sales were $459 million, up 14%. CONCERTA sales were up 32% to $178 million. New products including INVOKANA/INVOKAMETfor the treatment of type 2 diabetes; IMBRUVICA for treating certain B-cell malignancies, or blood cancers; XARELTO (rivaroxaban), an oral anticoagulant; and ZYTIGA, also performed well in the quarter. Worldwide Medical Devices sales were $6.1 billion, down 7% with a negative currency impact of 8%.

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