Summary
Johnson & Johnson (JNJ) reported strong performance in its 2021 fiscal year, with worldwide sales reaching $93.8 billion, a significant increase of 13.6% from the previous year. This growth was primarily driven by robust performance across all three segments: Pharmaceutical, Medical Devices (MedTech), and Consumer Health, with operational growth contributing significantly. The Pharmaceutical segment saw a notable 14.3% increase in sales, fueled by strong performances in Immunology (STELARA®, TREMFYA®) and Oncology (DARZALEX®, ERLEADA®), as well as the substantial contribution from the COVID-19 vaccine. The Medical Devices segment experienced a 17.9% sales increase, reflecting a recovery in global procedural volumes post-COVID-19 impacts, with strong growth in Surgery and Interventional Solutions. Looking ahead, JNJ announced its intention to separate its Consumer Health business into a new, publicly traded company within 18 to 24 months. This strategic move aims to allow each business to pursue its own growth strategies and capital allocation priorities. The company also highlighted its continued commitment to innovation, investing $14.7 billion in R&D, and its focus on human capital management, including diversity, equity, and inclusion. Despite facing ongoing litigation, including significant accruals for talc and opioid-related matters, the company expressed confidence in its financial position and liquidity.
Financial Highlights
31 data points| Revenue | $78.74B |
| Cost of Revenue | $23.40B |
| Gross Profit | $55.34B |
| R&D Expenses | $0 |
| SG&A Expenses | $20.12B |
| Operating Income | $17.80B |
| Interest Expense | $183.00M |
| Net Income | $20.88B |
| EPS (Basic) | $7.93 |
| EPS (Diluted) | $7.81 |
| Shares Outstanding (Basic) | 2.63B |
| Shares Outstanding (Diluted) | 2.67B |
Key Highlights
- 1Worldwide sales increased by 13.6% to $93.8 billion in fiscal year 2021.
- 2Pharmaceutical segment sales grew by 14.3% to $52.1 billion, driven by key products like STELARA®, TREMFYA®, DARZALEX®, ERLEADA®, and the COVID-19 vaccine.
- 3Medical Devices segment sales increased by 17.9% to $27.1 billion, benefiting from the recovery of global procedural volumes.
- 4Consumer Health segment sales grew by 4.1% to $14.6 billion, with strong performance in OTC medicines and Skin Health/Beauty brands.
- 5The company announced plans to separate its Consumer Health business into a new publicly traded entity within 18-24 months.
- 6Research and Development expenses totaled $14.7 billion, representing 15.7% of sales.
- 7The company has significant ongoing litigation, particularly concerning talc and opioid-related liabilities, with substantial accruals made.