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J&J(JNJ) - 2025 Q4 - Annual Results
JNJJ&J(JNJ)2025-01-22 11:35

Worldwide Sales Performance - Worldwide sales increased by 5.3% to 22,520millioninQ42024comparedto22,520 million in Q4 2024 compared to 21,395 million in Q4 2023, driven by a 10.0% growth in U.S. sales[1] - Worldwide sales excluding COVID-19 vaccine increased by 5.5% to 22,520millioninQ42024comparedto22,520 million in Q4 2024 compared to 21,351 million in Q4 2023[2] - Worldwide sales for the twelve months increased by 4.3% to 88,821millionin2024comparedto88,821 million in 2024 compared to 85,159 million in 2023[4] - Worldwide sales excluding COVID-19 vaccine for the twelve months increased by 5.5% to 88,623millionin2024comparedto88,623 million in 2024 compared to 84,042 million in 2023[5] - Sales to customers increased by 4.3% to 88,821millionin2024comparedto88,821 million in 2024 compared to 85,159 million in 2023[13] - Worldwide sales excluding COVID-19 Vaccine grew by 5.5% to 88,623million,withoperationalgrowthof7.088,623 million, with operational growth of 7.0%[42] U.S. Sales Performance - U.S. sales grew by 10.0% to 13,204 million in Q4 2024, while Europe sales declined by 0.8% to 4,921million[1]−InnovativeMedicinesegmentsalesgrewby4.44,921 million[1] - Innovative Medicine segment sales grew by 4.4% to 14,332 million in Q4 2024, with U.S. sales increasing by 11.1% to 8,977million[7]−MedTechsegmentsalesincreasedby6.78,977 million[7] - MedTech segment sales increased by 6.7% to 8,188 million in Q4 2024, driven by a 7.6% growth in U.S. sales to 4,227million[7]−AdjustedoperationalsalesgrowthfortheInnovativeMedicinesegmentwas6.14,227 million[7] - Adjusted operational sales growth for the Innovative Medicine segment was 6.1% worldwide in Q4 2024, with U.S. growth of 11.1%[23] - MedTech segment's adjusted operational sales growth was 7.6% worldwide in Q4 2024, driven by 7.6% growth in both U.S. and international markets[23] - Innovative Medicine segment reported a 4.0% growth worldwide, with U.S. growth at 9.0% and International decline at (2.5)%[25] - MedTech segment showed a 4.8% growth worldwide, with U.S. growth at 6.9% and International growth at 2.6%[25] - Oncology segment sales grew by 19.0% worldwide, driven by a 32.2% increase in U.S. sales[30] - DARZALEX sales increased by 20.9% worldwide, with U.S. sales up 28.9% and International sales up 11.3%[30] - SPRAVATO sales surged by 44.6% worldwide, with U.S. sales up 50.1%[30] - CARVYKTI sales showed significant growth, with U.S. sales at 304 million and International sales at 31million[30]−InnovativeMedicinesegmentworldwidesalesincreasedby4.431 million[30] - Innovative Medicine segment worldwide sales increased by 4.4% to 14,332 million, with US sales growing 11.1% to 8,977millionandinternationalsalesdeclining5.18,977 million and international sales declining 5.1% to 5,355 million[31] - Pulmonary Hypertension products worldwide sales grew 7.4% to 1,092million,drivenby11.61,092 million, driven by 11.6% growth in US sales to 819 million[31] - Xarelto worldwide sales surged 28.5% to 676million,entirelyfromUSmarketgrowth[31]−MedTechsegmentworldwidesalesincreased6.7676 million, entirely from US market growth[31] - MedTech segment worldwide sales increased 6.7% to 8,188 million, with US sales up 7.6% to 4,227millionandinternationalsalesgrowing5.84,227 million and international sales growing 5.8% to 3,961 million[33] - Cardiovascular products within MedTech segment saw 23.6% worldwide sales growth to 2,062million,withUSsalesjumping25.82,062 million, with US sales jumping 25.8% to 1,221 million[32] - Contact Lenses/Other products worldwide sales rose 6.3% to 937million,withUSsalesup6.0937 million, with US sales up 6.0% to 396 million[33] - Innovative Medicine segment total worldwide sales increased by 4.0% to 56,964millionin2024,withUSsalesgrowing9.056,964 million in 2024, with US sales growing 9.0% to 33,970 million and international sales declining 2.5% to 22,994million[38]−USsalesofCARVYKTIsurged85.222,994 million[38] - US sales of CARVYKTI surged 85.2% to 869 million, contributing to overall Oncology segment growth in the US market[37] - SPRAVATO US sales increased 57.8% to 929million,drivingNeurosciencesegmentgrowthintheUSmarket[37]−XARELTOsalesremainedstableworldwideat929 million, driving Neuroscience segment growth in the US market[37] - XARELTO sales remained stable worldwide at 2,373 million, with US sales growing slightly by 0.3%[38] - US MedTech sales grew by 6.9% to 16,332million,contributingsignificantlytooverallsegmentperformance[40]InternationalSalesPerformance−Internationalsalesdecreasedby0.716,332 million, contributing significantly to overall segment performance[40] International Sales Performance - International sales decreased by 0.7% to 9,316 million in Q4 2024, with Western Hemisphere excluding U.S. sales dropping by 2.7% to 1,135million[1]−InnovativeMedicinesegmentworldwidesalesincreasedby4.41,135 million[1] - Innovative Medicine segment worldwide sales increased by 4.4% to 14,332 million, with US sales growing 11.1% to 8,977millionandinternationalsalesdeclining5.18,977 million and international sales declining 5.1% to 5,355 million[31] - MedTech segment worldwide sales increased 6.7% to 8,188million,withUSsalesup7.68,188 million, with US sales up 7.6% to 4,227 million and international sales growing 5.8% to 3,961million[33]−Visionproductsworldwidesalesincreased7.93,961 million[33] - Vision products worldwide sales increased 7.9% to 1,303 million, with international sales growing 10.2% to 794million[33]−Surgicalproductsworldwidesalesincreased12.4794 million[33] - Surgical products worldwide sales increased 12.4% to 365 million, driven by 19.3% growth in international sales to 252million[33]−InnovativeMedicinesegmenttotalworldwidesalesincreasedby4.0252 million[33] - Innovative Medicine segment total worldwide sales increased by 4.0% to 56,964 million in 2024, with US sales growing 9.0% to 33,970millionandinternationalsalesdeclining2.533,970 million and international sales declining 2.5% to 22,994 million[38] - International sales of TREMFYA grew 22.8% to 1,227million,outperformingtheoverallImmunologysegment′sinternationalperformance[35]−InternationalMedTechsalesincreasedby2.61,227 million, outperforming the overall Immunology segment's international performance[35] - International MedTech sales increased by 2.6% to 15,525 million, with operational growth of 5.4%[40] Segment Performance - Innovative Medicine segment sales grew by 4.4% to 14,332millioninQ42024,withU.S.salesincreasingby11.114,332 million in Q4 2024, with U.S. sales increasing by 11.1% to 8,977 million[7] - MedTech segment sales increased by 6.7% to 8,188millioninQ42024,drivenbya7.68,188 million in Q4 2024, driven by a 7.6% growth in U.S. sales to 4,227 million[7] - Adjusted operational sales growth for the Innovative Medicine segment was 6.1% worldwide in Q4 2024, with U.S. growth of 11.1%[23] - MedTech segment's adjusted operational sales growth was 7.6% worldwide in Q4 2024, driven by 7.6% growth in both U.S. and international markets[23] - Innovative Medicine segment reported a 4.0% growth worldwide, with U.S. growth at 9.0% and International decline at (2.5)%[25] - MedTech segment showed a 4.8% growth worldwide, with U.S. growth at 6.9% and International growth at 2.6%[25] - Immunology segment sales declined by 7.8% worldwide, with U.S. sales down 5.9% and International sales down 11.5%[28] - Oncology segment sales grew by 19.0% worldwide, driven by a 32.2% increase in U.S. sales[30] - DARZALEX sales increased by 20.9% worldwide, with U.S. sales up 28.9% and International sales up 11.3%[30] - SPRAVATO sales surged by 44.6% worldwide, with U.S. sales up 50.1%[30] - CARVYKTI sales showed significant growth, with U.S. sales at 304millionandInternationalsalesat304 million and International sales at 31 million[30] - Adjusted operational sales growth excluding acquisitions, divestitures, and COVID-19 vaccine was 7.6% for Innovative Medicine and 4.7% for MedTech[25] - Innovative Medicine segment worldwide sales increased by 4.4% to 14,332million,withUSsalesgrowing11.114,332 million, with US sales growing 11.1% to 8,977 million and international sales declining 5.1% to 5,355million[31]−PulmonaryHypertensionproductsworldwidesalesgrew7.45,355 million[31] - Pulmonary Hypertension products worldwide sales grew 7.4% to 1,092 million, driven by 11.6% growth in US sales to 819million[31]−Xareltoworldwidesalessurged28.5819 million[31] - Xarelto worldwide sales surged 28.5% to 676 million, entirely from US market growth[31] - MedTech segment worldwide sales increased 6.7% to 8,188million,withUSsalesup7.68,188 million, with US sales up 7.6% to 4,227 million and international sales growing 5.8% to 3,961million[33]−CardiovascularproductswithinMedTechsegmentsaw23.63,961 million[33] - Cardiovascular products within MedTech segment saw 23.6% worldwide sales growth to 2,062 million, with US sales jumping 25.8% to 1,221million[32]−Visionproductsworldwidesalesincreased7.91,221 million[32] - Vision products worldwide sales increased 7.9% to 1,303 million, with international sales growing 10.2% to 794million[33]−ContactLenses/Otherproductsworldwidesalesrose6.3794 million[33] - Contact Lenses/Other products worldwide sales rose 6.3% to 937 million, with US sales up 6.0% to 396million[33]−Orthopaedicsworldwidesalesgrew2.1396 million[33] - Orthopaedics worldwide sales grew 2.1% to 2,315 million, with Hips products increasing 5.2% to 418millionworldwide[32]−Surgicalproductsworldwidesalesincreased12.4418 million worldwide[32] - Surgical products worldwide sales increased 12.4% to 365 million, driven by 19.3% growth in international sales to 252million[33]−Abiomedproductsworldwidesalesgrew12.9252 million[33] - Abiomed products worldwide sales grew 12.9% to 384 million, with US sales increasing 11.3% to 308million[32]−InnovativeMedicinesegmenttotalworldwidesalesincreasedby4.0308 million[32] - Innovative Medicine segment total worldwide sales increased by 4.0% to 56,964 million in 2024, with US sales growing 9.0% to 33,970millionandinternationalsalesdeclining2.533,970 million and international sales declining 2.5% to 22,994 million[38] - Oncology segment sales grew 17.7% worldwide to 20,781million,drivenbystrongperformanceofCARVYKTI(92.720,781 million, driven by strong performance of CARVYKTI (92.7% growth to 963 million) and DARZALEX (19.8% growth to 11,670million)[37]−Immunologysegmentsalesdeclined1.211,670 million)[37] - Immunology segment sales declined 1.2% worldwide to 17,828 million, with TREMFYA showing strong growth of 16.6% to 3,670millionwhileSTELARAdeclined4.63,670 million while STELARA declined 4.6% to 10,361 million[35] - Neuroscience segment sales remained flat worldwide at 7,115million,withSPRAVATOshowingsignificantgrowthof56.47,115 million, with SPRAVATO showing significant growth of 56.4% to 1,077 million[37] - Pulmonary Hypertension segment sales increased 12.3% worldwide to 4,282million,ledbyOPSUMIT(10.74,282 million, led by OPSUMIT (10.7% growth to 2,184 million) and UPTRAVI (14.9% growth to 1,817million)[38]−MedTechsegmentworldwidesalesincreasedby4.81,817 million)[38] - MedTech segment worldwide sales increased by 4.8% to 31,857 million, with operational growth of 6.2%[40] - Cardiovascular segment worldwide sales grew by 21.4% to 7,707million,drivenbystrongUSgrowthof24.27,707 million, driven by strong US growth of 24.2%[39] - Orthopaedics segment worldwide sales rose by 2.4% to 9,158 million, with US sales increasing by 3.0%[39] - Vision segment worldwide sales increased by 1.5% to 5,146million,withUSsalesgrowingby2.05,146 million, with US sales growing by 2.0%[40] - Innovative Medicine worldwide sales grew by 4.4% to 14,332 million, with US sales up 11.1%[41] Financial Performance - Net earnings from Continuing Operations decreased by 17.0% to 3,431millioninQ42024comparedto3,431 million in Q4 2024 compared to 4,132 million in Q4 2023[11] - Research and development expenses increased by 18.3% to 5,298millioninQ42024,representing23.55,298 million in Q4 2024, representing 23.5% of sales[11] - Gross profit rose by 4.7% to 61,350 million in 2024, with a gross margin of 69.1%[13] - Research and development expense increased by 14.2% to 17,232millionin2024,representing19.417,232 million in 2024, representing 19.4% of sales[13] - Net earnings from Continuing Operations grew by 5.6% to 14,066 million in 2024, with a diluted EPS increase of 11.3% to 5.79[13]−AdjustednetearningsfromContinuingOperationsdecreasedby4.65.79[13] - Adjusted net earnings from Continuing Operations decreased by 4.6% to 24,242 million in 2024, with a diluted EPS of 9.98[13]−Thecompanyincurred9.98[13] - The company incurred 167 million in restructuring costs in 2024 related to the Orthopaedics franchise streamlining[17] - COVID-19 vaccine-related costs totaled 100millionin2024,primarilyforexternalmanufacturingnetworkexitandclinicaltrialexpenses[18]−EuropeanMedicalDeviceRegulation(MDR)compliancecostsamountedto100 million in 2024, primarily for external manufacturing network exit and clinical trial expenses[18] - European Medical Device Regulation (MDR) compliance costs amounted to 204 million in 2024, with implementation substantially completed by Q4 2024[18] COVID-19 Vaccine Impact - Worldwide sales excluding COVID-19 vaccine increased by 5.5% to 22,520millioninQ42024comparedto22,520 million in Q4 2024 compared to 21,351 million in Q4 2023[2] - Worldwide sales excluding COVID-19 vaccine for the twelve months increased by 5.5% to 88,623millionin2024comparedto88,623 million in 2024 compared to 84,042 million in 2023[5] - COVID-19 vaccine contributed 1.8% to Innovative Medicine's growth, with International impact at 4.2%[25] - COVID-19 vaccine sales plummeted 82.4% worldwide to 198millionin2024[35]−COVID−19Vaccinesalesdeclinedby82.4198 million in 2024[35] - COVID-19 Vaccine sales declined by 82.4% worldwide to 198 million, reflecting reduced demand[42] Europe Sales Performance - Europe sales excluding COVID-19 Vaccine increased by 3.7% to $20,014 million, driven by operational growth of 4.1%[42]