-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ut0iSqT3QKBsaR/gDO8Yp20XnFTfe0A7jYXHC2uLlRc4e6mlshrb6NQ7KXB2qctO GG25PXKIwcNedjNCDppc7g== 0000200406-04-000132.txt : 20041013 0000200406-04-000132.hdr.sgml : 20041013 20041013063802 ACCESSION NUMBER: 0000200406-04-000132 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20041012 ITEM INFORMATION: Other Events FILED AS OF DATE: 20041013 DATE AS OF CHANGE: 20041013 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JOHNSON & JOHNSON CENTRAL INDEX KEY: 0000200406 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 221024240 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0103 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03215 FILM NUMBER: 041076036 BUSINESS ADDRESS: STREET 1: ONE JOHNSON & JOHNSON PLZ CITY: NEW BRUNSWICK STATE: NJ ZIP: 08933 BUSINESS PHONE: 7325242454 8-K 1 eightkcover.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8K 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 12, 2004 JOHNSON & JOHNSON (Exact name of registrant as specified in its charter) New Jersey 1-3215 22-1024240 (State or other Commission (I.R.S. Employer jurisdiction File Number) Identification No.) of incorporation) 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 Item 12. On October 12, 2004, Johnson & Johnson announced its consolidated financial results for the third quarter ended September 26, 2004. A copy of this press release is furnished as Exhibits 99.15 and 99.20 to this report and is incorporated herein by reference. (c) Exhibits Exhibit No. Description of Exhibit 99.15 Press Release dated October 12, 2004 for the period ended September 26, 2004. 99.2O Unaudited Comparative Supplementary Sales Data and Condensed Consolidated Statement of Earnings for the first quarter. SIGNATURE 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 Date: October 12, 2004 By: /s/ Stephen J. Cosgrove Stephen J. Cosgrove Chief Accounting Officer EX-99.15 OTH FIN ST 2 eightkesults.txt Exhibit 99.15 NEW BRUNSWICK, N.J., Oct 12, 2004 /PRNewswire-FirstCall via COMTEX/ -- Johnson & Johnson today announced sales for the third quarter of $11.6 billion, an increase of 10.5% over the prior year. The increase represented operational growth of 7.7% and a currency impact of 2.8%. Domestic sales were up 5.9%, while international sales increased 17.9%, including operational growth of 10.8% and a positive currency impact of 7.1%. Net earnings and diluted earnings per share for the third quarter were $2.3 billion and $.78, both increases of 13.0%, as compared with the same period in 2003. "I am pleased that Johnson & Johnson continues to achieve solid results in both sales and earnings," said William C. Weldon, Chairman and Chief Executive Officer. "Our broadly based approach to health care continues to serve us well as competition intensifies across many of our businesses and product lines." Worldwide Pharmaceutical sales of $5.5 billion for the third quarter represented an increase over the prior year of 13.4% with operational growth of 11.1% and a positive impact from currency of 2.3%. Domestic sales increased 12.5%, while international sales increased 15.5% (8.3% from operations and 7.2% from currency). Sales growth reflects the strong performances of RISPERDAL, an antipsychotic medication; DURAGESIC, a transdermal patch for chronic pain; TOPAMAX, an antiepileptic and recently approved for use in the prevention of migraines; REMICADE, a treatment for rheumatoid arthritis and Crohn's disease; SPORANOX, an antifungal; CONCERTA, a treatment for attention deficit hyperactivity disorder, and NATRECOR, a novel agent for the treatment of congestive heart failure. PROCRIT/EPREX, a product for the treatment of anemia, was negatively impacted by competitive activity. During the quarter, the Company announced that the U.S. Food and Drug Administration (FDA) approved an expanded label for REMICADE (infliximab) in combination with methotrexate (REMICADE regimen), as a first line regimen to treat patients with moderate to severe rheumatoid arthritis. The Company also received FDA approvals for TOPAMAX (topiramate) Tablets and TOPAMAX (topiramate capsules) Sprinkle Capsules for the prophylaxis (prevention) of migraine headaches in adults, and for LEVAQUIN (levofloxacin) Tablets/Injection to treat multi-drug resistant strains of streptococcus pneumoniae in community acquired pneumonia. In addition, the Company submitted supplemental applications to the FDA for REMICADE in the treatment of psoriatic arthritis and for RISPERDAL in the treatment of psychosis in Alzheimer's dementia. Worldwide Medical Devices and Diagnostics sales of $4.0 billion for the third quarter represented an increase over the prior year of 7.0% with operational growth of 3.6% and a positive impact from currency of 3.4%. Domestic sales declined 3.4%, while international sales increased 20.6% (12.8% from operations and 7.8% from currency). Primary contributors to the operational growth included LifeScan's blood glucose monitoring products, Vistakon's disposable contact lenses, Ethicon Endo-Surgery's minimally invasive surgical products, DePuy's orthopaedic joint reconstruction and spinal products, and Cordis' CYPHER Sirolimus-eluting Coronary Stent outside the United States. Sales of CYPHER within the United States were adversely impacted by competition. Worldwide Consumer segment sales of $2.0 billion for the third quarter represented an increase over the prior year of 9.9% with operational growth of 7.4% and a positive impact from currency of 2.5%. Domestic sales increased 4.0%, while international sales increased 16.8% (11.4% from operations and 5.4% from currency). Sales growth reflects strong performances from the adult skin care business where all four major equities: NEUTROGENA, RoC, AVEENO, and CLEAN & CLEAR achieved excellent growth. Also contributing to the results in the Consumer segment were wound care products, and McNeil Nutritional's SPLENDA sweetener. In October, the Company announced the completion of its acquisition of Biapharm SAS, a producer and marketer of skin care products in France, centered on the leading brand BIAFINE. Johnson & Johnson, with approximately 109,200 employees, is the world's most comprehensive and broadly based manufacturer of health care products, as well as a provider of related services, for the consumer, pharmaceutical, and medical devices and diagnostics markets. Johnson & Johnson has more than 200 operating companies in 57 countries, selling products throughout the world. NOTE TO INVESTORS Johnson & Johnson will conduct a conference call with financial analysts to discuss this news release today at 8:30 a.m., Eastern Daylight Savings Time. A simultaneous webcast of the call for interested investors and others may be accessed by visiting the Johnson & Johnson website at http://www.jnj.com. A replay will be available two hours after the live webcast by visiting http://www.jnj.com and clicking on "Webcast Presentations" in the Investor Relations section. (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 the Company'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(b) of the Company's Annual Report on Form 10-K for the fiscal year ended December 28, 2003. Copies of this Form 10-K are available online at http://www.sec.gov or on request from the Company. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments.) For more information on Johnson & Johnson, please visit the Company's website at http://www.jnj.com. EX-99.2O OTH FIN ST 3 eightkfinancials.txt Exhibit 99.2O Johnson & Johnson and Subsidiaries Supplementary Sales Data (Unaudited; Dollars in Millions) THIRD QUARTER 2004 2003 Percent Percent Percent Change Change Change Total Operations Currency Sales to customers by segment of business Consumer U.S. $1,023 984 4.0% 4.0 -- International 1,001 857 16.8 11.4 5.4 2,024 1,841 9.9 7.4 2.5 Pharmaceutical U.S. 3,694 3,285 12.5 12.5 -- International 1,791 1,550 15.5 8.3 7.2 5,485 4,835 13.4 11.1 2.3 Med Device & Diagnostics U.S. 2,073 2,145 (3.4) (3.4) -- International 1,971 1,634 20.6 12.8 7.8 4,044 3,779 7.0 3.6 3.4 U.S. 6,790 6,414 5.9 5.9 -- International 4,763 4,041 17.9 10.8 7.1 Worldwide $11,553 10,455 10.5% 7.7 2.8 Johnson & Johnson and Subsidiaries Supplementary Sales Data (Unaudited; Dollars in Millions) NINE MONTHS 2004 2003 Percent Percent Percent Change Change Change Total Operations Currency Sales to customers by segment of business Consumer U.S. $3,090 2,915 6.0% 6.0 -- International 2,981 2,536 17.5 10.0 7.5 6,071 5,451 11.4 7.9 3.5 Pharmaceutical U.S. 10,980 9,825 11.8 11.8 -- International 5,308 4,559 16.4 7.4 9.0 16,288 14,384 13.2 10.4 2.8 Med Device & Diagnostics U.S. 6,306 5,797 8.8 8.8 -- International 5,931 4,976 19.2 9.4 9.8 12,237 10,773 13.6 9.1 4.5 U.S. 20,376 18,537 9.9 9.9 -- International 14,220 12,071 17.8 8.8 9.0 Worldwide $34,596 30,608 13.0% 9.4 3.6 Johnson & Johnson and Subsidiaries Supplementary Sales Data (Unaudited; Dollars in Millions) THIRD QUARTER 2004 2003 Percent Percent Percent Change Change Change Total Operations Currency Sales to customers by geographic area U.S. $6,790 6,414 5.9% 5.9 -- Europe 2,638 2,241 17.7 8.2 9.5 Western Hemisphere 639 576 10.9 9.4 1.5 excluding U.S. Asia-Pacific, Africa 1,486 1,224 21.4 15.9 5.5 International 4,763 4,041 17.9 10.8 7.1 Worldwide $11,553 10,455 10.5% 7.7 2.8 Johnson & Johnson and Subsidiaries Supplementary Sales Data (Unaudited; Dollars in Millions) NINE MONTHS 2004 2003 Percent Percent Percent Change Change Change Total Operations Currency Sales to customers by geographic area U.S. $20,376 18,537 9.9% 9.9 -- Europe 8,124 6,909 17.6 6.6 11.0 Western Hemisphere 1,858 1,603 15.9 11.8 4.1 excluding U.S. Asia-Pacific, Africa 4,238 3,559 19.1 11.6 7.5 International 14,220 12,071 17.8 8.8 9.0 Worldwide $34,596 30,608 13.0% 9.4 3.6 Johnson & Johnson and Subsidiaries Condensed Consolidated Statement of Earnings (Unaudited; in Millions Except Per Share Figures) THIRD QUARTER 2004 2003 Percent Percent Percent 2004 to 2003 to Increase Amount Sales Amount Sales (Decrease) Sales to customers $11,553 100.0 $10,455 100.0 10.5 Cost of products sold 3,187 27.6 2,980 28.5 6.9 Selling, marketing and administrative expenses 3,854 33.3 3,428 32.8 12.4 Research Expense 1,198 10.4 1,177 11.3 1.8 In-process research & development 18 0.2 -- -- Interest (income) expense, net (19) (0.2) 12 0.1 Other (income) expense, net 41 0.4 (91) (0.9) Earnings before provision for taxes on income 3,274 28.3 2,949 28.2 11.0 Provision for taxes on income 933 8.0 877 8.4 6.4 Net earnings $2,341 20.3 $2,072 19.8 13.0 Net earnings per share (Diluted) $0.78 $0.69 13.0 Average shares outstanding (Diluted) 3,009.0 3,008.3 Effective tax rate 28.5% 29.7% Earnings excluding In-process research & development Earnings before provision for taxes on income $3,292[1] 28.5 $2,949 28.2 11.6 Net earnings $2,353[1] 20.4 $2,072 19.8 13.6 Net earnings per share (Diluted) $0.78[1] $0.69 13.0 Effective tax rate 28.5% 29.7% [1] The difference between earnings before provision for taxes on income and net earnings as reported and earnings before provision for taxes on income and net earnings excluding IPR&D is $18 million and $12 million respectively, which is in-process research & development charges. Johnson & Johnson and Subsidiaries Condensed Consolidated Statement of Earnings (Unaudited; in Millions Except Per Share Figures) NINE MONTHS 2004 2003 Percent Percent Percent 2004 to 2003 to Increase Amount Sales Amount Sales (Decrease) Sales to customers $11,553 100.0 $10,455 100.0 10.5 Cost of products sold 9,716 28.1 8,668 28.3 12.1 Selling, marketing and administrative expenses 11,205 32.4 10,077 32.9 11.2 Research Expense 3,476 10.0 3,195 10.4 8.8 In-process research & development 18 0.1 918 3.0 Interest (income) expense, net 4 -- 19 0.1 Other (income) expense, net (36) (0.1) (203) (0.6) Earnings before provision for taxes on income 10,213 29.5 7,934 25.9 28.7 Provision for taxes on income 2,921 8.4 2,582 8.4 13.1 Net earnings $7,292 21.1 $5,352 17.5 36.2 Net earnings per share (Diluted) $2.43 $1.78 36.5 Average shares outstanding (Diluted) 3,004.4 3,012.0 Effective tax rate 28.6% 32.5% Earnings excluding In-process research & development Earnings before provision for taxes on income $10,231[1] 29.6 $8,852[2] 28.9 15.6 Net earnings $7,304[1] 21.1 $6,267[2] 20.5 16.5 Net earnings per share (Diluted) $2.43[1] $2.08[2] 16.8 Effective tax rate 28.6% 29.2% [1] The difference between earnings before provision for taxes on income and net earnings as reported and earnings before provision for taxes on income and net earnings excluding IPR&D is $18 million and $12 million respectively, which is in-process research & development charges. [2] The difference between earnings before provision for taxes on income, net earnings and earnings per share (diluted) as reported and earnings before provision for taxes on income, net earnings and earnings per share (diluted) excluding IPR&D is $918 million, $915 million and $0.30 per share, respectively. -----END PRIVACY-ENHANCED MESSAGE-----