EX-99.23a2026q2exhibit992.htmEX-99.2 Document
Exhibit 99.2
Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions)
SECOND QUARTER
Percent Change
Sales to customers by geographic area
2026
2025
Total
Operations
Currency
U.S.
$14,533
13,544
7.3
%
7.3
—
T1Europe
5,726
5,387
6.3
3.3
3.0
Western Hemisphere excluding U.S.
1,309
1,206
8.5
2.7
5.8
Asia-Pacific, Africa
3,742
3,606
3.8
3.9
(0.1)
International
10,777
10,199
5.7
3.4
2.3
Worldwide
$25,310
23,743
6.6
%
5.6
1.0
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions)
SIX MONTHS
Percent Change
Sales to customers by geographic area
2026
2025
Total
Operations
Currency
U.S.
$27,863
25,849
7.8
%
7.8
—
Europe
11,574
10,497
10.3
3.0
7.3
Western Hemisphere excluding U.S.
2,602
2,373
9.6
2.6
7.0
Asia-Pacific, Africa
7,333
6,917
6.0
4.9
1.1
International
21,509
19,787
8.7
3.6
5.1
Worldwide
$49,372
45,636
8.2
%
6.0
2.2
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions)
SECOND QUARTER
Percent Change
Sales to customers by segment of business
2026
2025
Total
Operations
Currency
Innovative Medicine
U.S.
$
9,979
9,161
8.9
%
8.9
—
International
6,405
6,041
6.0
3.6
2.4
16,384
15,202
7.8
6.8
1.0
MedTech
U.S.
4,554
4,383
3.9
3.9
—
International
4,372
4,158
5.2
3.2
2.0
8,926
8,541
4.5
3.6
0.9
U.S.
14,533
13,544
7.3
7.3
—
International
10,777
10,199
5.7
3.4
2.3
Worldwide
$
25,310
23,743
6.6
%
5.6
1.0
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions)
SIX MONTHS
Percent Change
Sales to customers by segment of business
2026
2025
Total
Operations
Currency
Innovative Medicine
U.S.
$
18,850
17,253
9.3
%
9.3
—
International
12,960
11,822
9.6
3.9
5.7
31,810
29,075
9.4
7.1
2.3
MedTech
U.S.
9,013
8,596
4.8
4.8
—
International
8,549
7,965
7.3
3.2
4.1
17,562
16,561
6.0
4.1
1.9
U.S.
27,863
25,849
7.8
7.8
—
International
21,509
19,787
8.7
3.6
5.1
Worldwide
$
49,372
45,636
8.2
%
6.0
2.2
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
Johnson & Johnson and subsidiaries
Condensed consolidated statement of earnings
(Unaudited; in Millions Except Per Share Figures)
SECOND QUARTER
2026
2025
Percent
Increase
(Decrease)
Amount
Percent
to Sales
Amount
Percent
to Sales
Sales to customers
$
25,310
100.0
$
23,743
100.0
6.6
Cost of products sold
8,051
31.8
7,628
32.1
5.5
Gross Profit
17,259
68.2
16,115
67.9
7.1
Selling, marketing and administrative expenses
6,432
25.4
5,889
24.8
9.2
Research and development expense
3,653
14.4
3,516
14.8
3.9
Interest (income) expense, net
62
0.2
48
0.2
Other (income) expense, net
331
1.3
107
0.5
Restructuring
34
0.2
64
0.3
Earnings before provision for taxes on income
6,747
26.7
6,491
27.3
3.9
Provision for taxes on income
1,213
4.8
954
4.0
27.1
Net earnings
$
5,534
21.9
$
5,537
23.3
(0.1)
Net earnings per share (Diluted)
$
2.27
$
2.29
(0.9)
Average shares outstanding (Diluted)
2,440.1
2,419.1
Effective tax rate
18.0
%
14.7
%
Adjusted earnings before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income
$
8,660
34.2
$
8,188
34.5
5.8
Net earnings
$
7,081
28.0
$
6,699
28.2
5.7
Net earnings per share (Diluted)
$
2.90
$
2.77
4.7
Effective tax rate
18.2
%
18.2
%
(1) See Reconciliation of Non-GAAP Financial Measures.
(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings before provision for taxes on income," "adjusted net earnings," "adjusted net earnings per share (diluted)," and "adjusted effective tax rate" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant gains from divestitures, the effects of an acquisition, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters).
Special items may be highly variable, difficult to predict, and of a size that sometimes has substantial impact on the Company's reported results of operations for a period. Management uses these measures internally for planning, forecasting and evaluating the performances of the Company's businesses, including allocating resources and evaluating results relative to employee performance compensation targets. Unlike earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate prepared in accordance with GAAP, adjusted earnings before provision for taxes on income, adjusted net earnings, adjusted net earnings per share (diluted), and adjusted effective tax rate may not be comparable with the calculation of similar measures for other companies.
The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of the Company's results of operations without including all events during a period, such as intangible asset amortization expense, significant gains from divestitures, the effects of an acquisition, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) and do not provide a comparable view of the Company's performance to other companies in the health care industry. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP.
Johnson & Johnson and subsidiaries
Condensed consolidated statement of earnings
(Unaudited; in Millions Except Per Share Figures)
SIX MONTHS
2026
2025
Percent
Increase
(Decrease)
Amount
Percent
to Sales
Amount
Percent
to Sales
Sales to customers
$
49,372
100.0
$
45,636
100.0
8.2
Cost of products sold
16,157
32.7
14,985
32.8
7.8
Gross Profit
33,215
67.3
30,651
67.2
8.4
Selling, marketing and administrative expenses
12,466
25.3
11,001
24.1
13.3
Research and development expense
7,180
14.5
6,741
14.8
6.5
In-process research and development impairments
36
0.1
—
—
Interest (income) expense, net
105
0.2
(80)
(0.2)
Other (income) expense, net
625
1.3
(7,214)
(15.8)
Restructuring
66
0.1
81
0.2
Earnings before provision for taxes on income
12,737
25.8
20,122
44.1
(36.7)
Provision for taxes on income
1,968
4.0
3,586
7.9
(45.1)
Net earnings
$
10,769
21.8
$
16,536
36.2
(34.9)
Net earnings per share (Diluted)
$
4.41
$
6.82
(35.3)
Average shares outstanding (Diluted)
2,443.9
2,423.3
Effective tax rate
15.5
%
17.8
%
Adjusted earnings before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income
$
16,481
33.4
$
16,199
35.5
1.7
Net earnings
$
13,695
27.7
$
13,405
29.4
2.2
Net earnings per share (Diluted)
$
5.60
$
5.53
1.3
Effective tax rate
16.9
%
17.2
%
(1) See Reconciliation of Non-GAAP Financial Measures.
(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings before provision for taxes on income," "adjusted net earnings," "adjusted net earnings per share (diluted)," and "adjusted effective tax rate" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant gains from divestitures, the effects of an acquisition, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters).
Special items may be highly variable, difficult to predict, and of a size that sometimes has substantial impact on the Company's reported results of operations for a period. Management uses these measures internally for planning, forecasting and evaluating the performances of the Company's businesses, including allocating resources and evaluating results relative to employee performance compensation targets. Unlike earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate prepared in accordance with GAAP, adjusted earnings before provision for taxes on income, adjusted net earnings, adjusted net earnings per share (diluted), and adjusted effective tax rate may not be comparable with the calculation of similar measures for other companies.
The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of the Company's results of operations without including all events during a period, such as intangible asset amortization expense, significant gains from divestitures, the effects of an acquisition, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) and do not provide a comparable view of the Company's performance to other companies in the health care industry. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP.
Johnson & Johnson and subsidiaries
Reconciliation of non-GAAP financial measures
SECOND QUARTER
SIX MONTHS
(Dollars in Millions Except Per Share Data)
2026
2025
2026
2025
Net Earnings, after tax- as reported
$5,534
$5,537
$10,769
$16,536
Pre-tax Adjustments
Litigation related
267
57
597
(6,909)
Intangible Asset Amortization expense
1,245
1,267
2,492
2,387
Restructuring related 1
276
79
338
134
T2Orthopaedics separation related
258
—
377
—
Acquisition, integration and divestiture related
80
246
176
378
(Gains)/losses on securities
(213)
21
(272)
60
IPR&D impairments
—
—
36
—
Other
—
27
—
27
Tax Adjustments
Tax impact on special item adjustments 2
(368)
(321)
(792)
994
Tax legislation and other tax related
2
(214)
(26)
(202)
Adjusted Net Earnings , after tax
$7,081
$6,699
$13,695
$13,405
Average shares outstanding (Diluted)
2,440.1
2,419.1
2,443.9
2,423.3
Adjusted net earnings per share (Diluted)
$2.90
$2.77
$5.60
$5.53
Operational adjusted net earnings per share (Diluted)
$2.86
$5.43
Notes:
1T3In the fiscal second quarter of 2026, the Company commenced a supply chain restructuring program primarily in the Innovative Medicine segment to exit certain manufacturing locations as part of its optimization efforts to streamline operations. The program is expected to be substantially completed by the end of fiscal year 2029 with estimated costs between $650 - $750 million, and include site and supplier exit costs, decommissioning and asset impairment costs. Restructuring expenses of $200 million, primarily related to asset impairments, were recorded in the fiscal second quarter of 2026.
In fiscal 2025, the Company initiated a restructuring program of its Surgery franchise within the MedTech segment to simplify and focus operations by exiting certain non-strategic product lines and optimize select sites across the network. Restructuring expenses of $59 million were recorded in the fiscal second quarter of 2026 ($114 million Q2 2026 YTD) and $29 million in the fiscal second quarter of 2025 ($29 million Q2 2025 YTD) and primarily include costs related to product exits. This program is expected to be substantially completed by the end of fiscal year 2026.
In fiscal 2023, the Company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expenses of $17 million in the fiscal second quarter of 2026 ($24 million Q2 2026 YTD) and $50 million in the fiscal second quarter of 2025 ($105 million Q2 2025 YTD) includes costs related to market and product exits. This program will be completed as of Q4 2026 at a total cost of approximately $1 billion.
2The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings.
Johnson & Johnson and subsidiaries
Reconciliation of non-GAAP financial measures
Adjusted operational sales growth(A)
Second quarter 2026 actual vs. 2025 actual
Segments
Innovative Medicine
MedTech
Total
WW As Reported
7.8
%
4.5
%
6.6
%
U.S.
8.9
%
3.9
%
7.3
%
International
6.0
%
5.2
%
5.7
%
WW Currency
1.0
0.9
1.0
U.S.
—
—
—
International
2.4
2.0
2.3
WW Operational
6.8
%
3.6
%
5.6
%
U.S.
8.9
%
3.9
%
7.3
%
International
3.6
%
3.2
%
3.4
%
All Other Acquisitions and Divestitures (A&D)
0.1
0.1
0.1
U.S.
0.0
0.2
0.1
International
0.2
0.0
0.1
WW Adjusted Operational Ex A&D
6.9
%
3.7
%
5.7
%
U.S.
8.9
%
4.1
%
7.4
%
International
3.8
%
3.2
%
3.5
%
Note: Percentages are based on actual, non-rounded figures and may not sum
(A) NON-GAAP FINANCIAL MEASURE “Adjusted operational sales growth" excludes acquisitions, divestitures and translational currency and is a non-GAAP financial measure. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. Due to the variable nature of acquisitions and divestitures, and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods.
The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry.
Johnson & Johnson and subsidiaries
Reconciliation of non-GAAP financial measures
Adjusted operational sales growth(A)
Six months 2026 actual vs. 2025 actual
Segments
Innovative Medicine
MedTech
Total
WW As Reported
9.4
%
6.0
%
8.2
%
U.S.
9.3
%
4.8
%
7.8
%
International
9.6
%
7.3
%
8.7
%
WW Currency
2.3
1.9
2.2
U.S.
—
—
—
International
5.7
4.1
5.1
WW Operational
7.1
%
4.1
%
6.0
%
U.S.
9.3
%
4.8
%
7.8
%
International
3.9
%
3.2
%
3.6
%
Caplyta
(0.9)
(0.6)
U.S.
(1.6)
(1.0)
International
0.0
0.0
All Other Acquisitions and Divestitures (A&D)
0.0
0.1
0.1
U.S.
0.0
0.2
0.1
International
0.2
0.0
0.1
WW Adjusted Operational Ex A&D
6.2
%
4.2
%
5.5
%
U.S.
7.7
%
5.0
%
6.9
%
International
4.1
%
3.2
%
3.7
%
Note: Percentages are based on actual, non-rounded figures and may not sum
(A) NON-GAAP FINANCIAL MEASURE “Adjusted operational sales growth" excludes acquisitions, divestitures and translational currency and is a non-GAAP financial measure. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. Due to the variable nature of acquisitions and divestitures, and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods.
The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry.
Johnson & Johnson
Segment sales
(Dollars in Millions)
SECOND QUARTER
% Change
2026
2025
Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)
ONCOLOGY
US
$
4,069
3,385
20.3
%
20.3
%
—
%
Intl
3,337
2,928
14.0
11.2
2.8
WW
7,406
6,312
17.3
16.1
1.2
DARZALEX
US
2,435
2,017
20.7
20.7
—
Intl
1,772
1,521
16.4
13.5
2.9
WW
4,207
3,539
18.9
17.6
1.3
CARVYKTI
US
472
358
31.7
31.7
—
Intl
185
81
*
*
*
WW
657
439
49.4
47.7
1.7
TECVAYLI
US
186
114
63.9
63.9
—
Intl
74
52
40.7
39.2
1.5
WW
260
166
56.5
56.1
0.4
TALVEY
US
112
82
36.2
36.2
—
Intl
62
24
*
*
*
WW
174
106
63.3
62.6
0.7
RYBREVANT / LAZCLUZE
US
190
139
36.8
36.8
—
Intl
99
41
*
*
*
WW
289
179
60.8
61.6
(0.8)
ERLEADA
US
396
378
4.7
4.7
—
Intl
599
530
12.9
9.7
3.2
WW
995
908
9.5
7.6
1.9
IMBRUVICA
US
149
239
(37.6)
(37.6)
—
Intl
449
496
(9.5)
(11.8)
2.3
WW
599
735
(18.6)
(20.2)
1.6
OTHER ONCOLOGY(3)
US
131
56
*
*
—
Intl
97
181
(46.5)
(45.7)
(0.8)
WW
226
238
(4.6)
(3.9)
(0.7)
See footnotes at end of schedule
Johnson & Johnson
Segment sales
(Dollars in Millions)
SECOND QUARTER
% Change
2026
2025
Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
IMMUNOLOGY
US
$
2,372
2,505
(5.3)
%
(5.3)
%
—
%
Intl
1,473
1,489
(1.0)
(3.5)
2.5
WW
3,844
3,993
(3.7)
(4.6)
0.9
TREMFYA
US
1,465
796
84.2
84.2
—
Intl
581
391
48.7
44.2
4.5
WW
2,046
1,186
72.5
71.0
1.5
SIMPONI / SIMPONI ARIA
US
260
305
(14.6)
(14.6)
—
Intl
358
387
(7.3)
(9.5)
2.2
WW
618
690
(10.5)
(11.7)
1.2
REMICADE
US
215
283
(24.1)
(24.1)
—
US Exports(4)
10
34
(71.0)
(71.0)
—
Intl
112
138
(18.4)
(20.5)
2.1
WW
338
455
(25.8)
(26.4)
0.6
T4STELARA
US
336
1,078
(68.8)
(68.8)
—
Intl
404
575
(29.7)
(31.1)
1.4
WW
740
1,653
(55.2)
(55.7)
0.5
OTHER IMMUNOLOGY
US
85
8
*
*
—
Intl
18
0
*
*
*
WW
104
8
*
*
*
NEUROSCIENCE
US
1,659
1,377
20.5
20.5
—
Intl
678
674
0.6
(1.1)
1.7
WW
2,337
2,051
14.0
13.4
0.6
SPRAVATO
US
514
366
40.7
40.7
—
Intl
70
50
41.2
34.7
6.5
WW
584
414
40.8
40.0
0.8
CAPLYTA
US
361
211
70.9
70.9
—
Intl
—
—
—
—
—
WW
361
211
70.9
70.9
—
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US
738
732
0.8
0.8
—
Intl
278
260
6.6
5.1
1.5
WW
1,015
992
2.3
1.9
0.4
See footnotes at end of schedule
Johnson & Johnson
Segment sales
(Dollars in Millions)
SECOND QUARTER
% Change
2026
2025
Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
CONCERTA / methylphenidate
US
$
12
24
(48.6)
%
(48.6)
%
—
%
Intl
133
139
(4.2)
(4.8)
0.6
WW
146
164
(10.8)
(11.3)
0.5
OTHER NEUROSCIENCE
US
34
45
(22.9)
(22.9)
—
Intl
198
226
(12.3)
(13.7)
1.4
WW
232
270
(14.0)
(15.2)
1.2
T5PULMONARY HYPERTENSION (PH)
US
814
799
1.8
1.8
—
Intl
329
314
4.9
3.4
1.5
WW
1,143
1,113
2.6
2.2
0.4
UPTRAVI
US
386
382
1.0
1.0
—
Intl
108
94
15.0
10.1
4.9
WW
494
476
3.8
2.8
1.0
OPSUMIT / OPSYNVI
US
416
403
3.2
3.2
—
Intl
187
180
3.9
3.6
0.3
WW
602
582
3.4
3.3
0.1
OTHER PULMONARY HYPERTENSION
US
13
16
(16.9)
(16.9)
—
Intl
34
40
(14.3)
(12.7)
(1.6)
WW
47
55
(15.0)
(13.9)
(1.1)
INFECTIOUS DISEASES (ID)
US
300
320
(6.3)
(6.3)
—
Intl
463
484
(4.1)
(6.2)
2.1
WW
763
803
(5.0)
(6.3)
1.3
EDURANT / rilpivirine
US
3
6
(49.6)
(49.6)
—
Intl
347
354
(1.9)
(3.8)
1.9
WW
350
360
(2.7)
(4.6)
1.9
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US
296
312
(5.1)
(5.1)
—
Intl
76
85
(10.4)
(12.8)
2.4
WW
372
396
(6.3)
(6.8)
0.5
OTHER INFECTIOUS DISEASES
US
1
2
(47.9)
(47.9)
—
Intl
40
45
(9.6)
(12.8)
3.2
WW
41
47
(11.6)
(14.6)
3.0
See footnotes at end of schedule
Johnson & Johnson
Segment sales
(Dollars in Millions)
SECOND QUARTER
% Change
2026
2025
Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
CARDIOVASCULAR / METABOLISM / OTHER (CVM)
US
$
765
776
(1.3)
%
(1.3)
%
—
%
Intl
124
154
(19.4)
(21.5)
2.1
WW
889
930
(4.3)
(4.7)
0.4
XARELTO
US
664
621
7.1
7.1
—
Intl
—
—
—
—
—
WW
664
621
7.1
7.1
—
OTHER
US
101
155
(35.0)
(35.0)
—
Intl
124
154
(19.4)
(21.5)
2.1
WW
225
309
(27.2)
(28.3)
1.1
TOTAL PH, ID, CVM
US
1,878
1,895
(0.9)
(0.9)
—
Intl
916
952
(3.6)
(5.5)
1.9
WW
2,795
2,846
(1.8)
(2.4)
0.6
TOTAL INNOVATIVE MEDICINE
US
9,979
9,161
8.9
8.9
—
Intl
6,405
6,041
6.0
3.6
2.4
WW
$16,384
15,202
7.8
%
6.8
%
1.0
%
See footnotes at end of schedule
Johnson & Johnson
Segment sales
(Dollars in Millions)
SECOND QUARTER
% Change
2026
2025
Reported
Operational(1)
Currency
MEDTECH SEGMENT(2)
CARDIOVASCULAR
US
$
1,426
1,364
4.5
%
4.5
%
—
%
Intl
978
948
3.2
1.1
2.1
WW
2,404
2,313
4.0
3.1
0.9
ELECTROPHYSIOLOGY
US
783
741
5.8
5.8
—
Intl
749
728
2.9
0.4
2.5
WW
1,533
1,468
4.4
3.1
1.3
ABIOMED
US
342
360
(4.8)
(4.8)
—
Intl
97
89
9.5
9.2
0.3
WW
440
448
(2.0)
(2.0)
0.0
SHOCKWAVE
US
268
233
14.6
14.6
—
Intl
67
58
14.5
15.4
(0.9)
WW
335
292
14.6
14.7
(0.1)
OTHER CARDIOVASCULAR
US
33
31
5.5
5.5
—
Intl
65
72
(10.5)
(13.2)
2.7
WW
98
104
(5.7)
(7.5)
1.8
SURGERY
US
1,094
1,043
5.0
5.0
—
Intl
1,559
1,512
3.1
0.5
2.6
WW
2,653
2,555
3.9
2.3
1.6
ADVANCED
US
499
477
4.7
4.7
—
Intl
691
687
0.5
(1.9)
2.4
WW
1,189
1,164
2.2
0.8
1.4
GENERAL
US
596
567
5.2
5.2
—
Intl
868
825
5.3
2.5
2.8
WW
1,464
1,391
5.2
3.6
1.6
See footnotes at end of schedule
Johnson & Johnson
Segment sales
(Dollars in Millions)
SECOND QUARTER
% Change
2026
2025
Reported
Operational(1)
Currency
MEDTECH SEGMENT(2)(Continued)
VISION
US
$565
557
1.4
%
1.4
%
—
%
Intl
887
813
9.1
8.5
0.6
WW
1,451
1,369
6.0
5.6
0.4
CONTACT LENSES / OTHER
US
445
429
3.6
3.6
—
Intl
580
536
8.1
7.9
0.2
WW
1,025
965
6.1
6.0
0.1
SURGICAL
US
120
128
(6.0)
(6.0)
—
Intl
306
277
10.9
9.6
1.3
WW
426
403
5.6
4.7
0.9
ORTHOPAEDICS
US
1,470
1,420
3.5
3.5
—
Intl
948
885
7.2
5.3
1.9
WW
2,418
2,305
4.9
4.2
0.7
HIPS
US
283
271
4.6
4.6
—
Intl
158
150
5.5
3.0
2.5
WW
441
421
4.9
4.0
0.9
KNEES
US
228
226
1.1
1.1
—
Intl
182
164
11.4
10.3
1.1
WW
410
389
5.5
5.0
0.5
TRAUMA
US
536
501
6.7
6.7
—
Intl
291
267
9.2
7.4
1.8
WW
827
768
7.6
6.9
0.7
SPINE, SPORTS & OTHER
US
423
422
0.2
0.2
—
Intl
317
305
4.0
1.9
2.1
WW
740
727
1.8
0.9
0.9
TOTAL MEDTECH
US
4,554
4,383
3.9
3.9
—
Intl
4,372
4,158
5.2
3.2
2.0
WW
$8,926
8,541
4.5
%
3.6
%
0.9
%
See footnotes at end of schedule
Johnson & Johnson
Segment sales
(Dollars in Millions)
SIX MONTHS
% Change
2026
2025
Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)
ONCOLOGY
US
$7,684
6,398
20.1
%
20.1
%
—
%
Intl
6,695
5,592
19.7
13.2
6.5
WW
14,379
11,990
19.9
16.9
3.0
DARZALEX
US
4,643
3,846
20.7
20.7
—
Intl
3,528
2,930
20.4
13.7
6.7
WW
8,171
6,776
20.6
17.7
2.9
CARVYKTI
US
905
676
33.8
33.8
—
Intl
349
132
*
*
*
WW
1,254
808
55.1
52.1
3.0
TECVAYLI
US
313
219
43.1
43.1
—
Intl
148
98
51.1
45.2
5.9
WW
462
317
45.5
43.7
1.8
TALVEY
US
213
150
41.7
41.7
—
Intl
113
42
*
*
*
WW
326
192
69.3
67.2
2.1
RYBREVANT / LAZCLUZE
US
365
252
45.0
45.0
—
Intl
181
69
*
*
*
WW
546
320
70.4
69.9
0.5
ERLEADA
US
738
670
10.2
10.2
—
Intl
1,206
1,009
19.4
12.5
6.9
WW
1,944
1,679
15.8
11.6
4.2
IMBRUVICA
US
292
474
(38.4)
(38.4)
—
Intl
966
970
(0.4)
(6.7)
6.3
WW
1,259
1,444
(12.9)
(17.1)
4.2
OTHER ONCOLOGY(3)
US
216
110
94.5
94.5
—
Intl
203
341
(40.5)
(41.3)
0.8
WW
418
452
(7.4)
(8.0)
0.6
See footnotes at end of schedule
Johnson & Johnson
Segment sales
(Dollars in Millions)
SIX MONTHS
% Change
2026
2025
Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
IMMUNOLOGY
US
$4,227
4,701
(10.1)
%
(10.1)
%
—
%
Intl
2,997
2,999
(0.1)
(5.0)
4.9
WW
7,224
7,700
(6.2)
(8.1)
1.9
TREMFYA
US
2,507
1,395
79.7
79.7
—
Intl
1,147
747
53.6
45.5
8.1
WW
3,654
2,142
70.6
67.8
2.8
SIMPONI / SIMPONI ARIA
US
529
597
(11.2)
(11.2)
—
Intl
736
753
(2.3)
(6.9)
4.6
WW
1,265
1,349
(6.2)
(8.8)
2.6
REMICADE
US
484
597
(19.0)
(19.0)
—
US Exports(4)
28
44
(37.1)
(37.1)
—
Intl
248
281
(11.5)
(15.4)
3.9
WW
760
922
(17.6)
(18.7)
1.1
STELARA
US
556
2,059
(73.0)
(73.0)
—
Intl
839
1,219
(31.1)
(34.6)
3.5
WW
1,396
3,278
(57.4)
(58.7)
1.3
OTHER IMMUNOLOGY
US
123
9
*
*
—
Intl
27
0
*
*
*
WW
150
9
*
*
*
NEUROSCIENCE
US
3,153
2,345
34.5
34.5
—
Intl
1,359
1,353
0.4
(3.7)
4.1
WW
4,512
3,698
22.0
20.5
1.5
SPRAVATO
US
920
642
43.4
43.4
—
Intl
131
93
41.8
31.9
9.9
WW
1,052
734
43.2
42.0
1.2
CAPLYTA(5)
US
631
211
*
*
—
Intl
—
—
—
—
—
WW
631
211
*
*
—
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US
1,496
1,357
10.2
10.2
—
Intl
558
537
3.7
(0.1)
3.8
WW
2,053
1,895
8.4
7.3
1.1
CONCERTA / methylphenidate
US
34
62
(45.5)
(45.5)
—
Intl
248
249
(0.4)
(3.0)
2.6
WW
282
312
(9.5)
(11.5)
2.0
See footnotes at end of schedule
Johnson & Johnson
Segment sales
(Dollars in Millions)
SIX MONTHS
% Change
2026
2025
Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
OTHER NEUROSCIENCE
US
$
72
73
(1.1)
%
(1.1)
%
—
%
Intl
422
474
(10.9)
(15.1)
4.2
WW
494
547
(9.6)
(13.2)
3.6
PULMONARY HYPERTENSION (PH)
US
1,645
1,543
6.5
6.5
—
Intl
633
595
6.4
2.3
4.1
WW
2,278
2,138
6.5
5.4
1.1
UPTRAVI
US
771
747
3.2
3.2
—
Intl
206
180
14.7
7.7
7.0
WW
977
927
5.4
4.0
1.4
OPSUMIT / OPSYNVI
US
849
766
10.9
10.9
—
Intl
359
339
6.1
2.7
3.4
WW
1,208
1,104
9.4
8.4
1.0
OTHER PULMONARY HYPERTENSION
US
25
31
(19.0)
(19.0)
—
Intl
68
77
(11.5)
(12.3)
0.8
WW
93
107
(13.6)
(14.2)
0.6
INFECTIOUS DISEASES (ID)
US
642
635
1.1
1.1
—
Intl
1,010
971
4.1
(2.5)
6.6
WW
1,652
1,605
2.9
(1.1)
4.0
EDURANT / rilpivirine
US
10
14
(29.3)
(29.3)
—
Intl
749
704
6.4
(0.3)
6.7
WW
759
718
5.7
(0.9)
6.6
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US
630
617
2.1
2.1
—
Intl
185
183
1.2
(5.6)
6.8
WW
815
799
1.9
0.4
1.5
OTHER INFECTIOUS DISEASES
US
2
4
(51.6)
(51.6)
—
Intl
76
84
(9.0)
(13.7)
4.7
WW
78
88
(11.1)
(15.5)
4.4
See footnotes at end of schedule
Johnson & Johnson
Segment sales
(Dollars in Millions)
SIX MONTHS
% Change
2026
2025
Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
CARDIOVASCULAR / METABOLISM / OTHER (CVM)
US
$
1,499
1,631
(8.1)
%
(8.1)
%
—
%
Intl
266
312
(14.8)
(19.5)
4.7
WW
1,765
1,943
(9.2)
(9.9)
0.7
XARELTO
US
1,306
1,311
(0.3)
(0.3)
—
Intl
—
—
—
—
—
WW
1,306
1,311
(0.3)
(0.3)
—
OTHER
US
192
320
(39.9)
(39.9)
—
Intl
266
312
(14.8)
(19.5)
4.7
WW
458
632
(27.5)
(29.8)
2.3
TOTAL PH, ID, CVM
US
3,785
3,809
(0.6)
(0.6)
—
Intl
1,909
1,878
1.7
(3.8)
5.5
WW
5,694
5,686
0.1
(1.7)
1.8
TOTAL INNOVATIVE MEDICINE
US
18,850
17,253
9.3
9.3
—
Intl
12,960
11,822
9.6
3.9
5.7
WW
$
31,810
29,075
9.4
%
7.1
%
2.3
%
See footnotes at end of schedule
Johnson & Johnson
Segment sales
(Dollars in Millions)
SIX MONTHS
% Change
2026
2025
Reported
Operational(1)
Currency
MEDTECH SEGMENT(2)
CARDIOVASCULAR
US
$
2,825
2,625
7.6
%
7.6
%
—
%
Intl
1,956
1,790
9.3
5.2
4.1
WW
4,781
4,416
8.3
6.6
1.7
ELECTROPHYSIOLOGY
US
1,519
1,425
6.6
6.6
—
Intl
1,502
1,366
10.0
5.6
4.4
WW
3,022
2,791
8.3
6.2
2.1
ABIOMED
US
731
699
4.6
4.6
—
Intl
197
170
16.1
11.4
4.7
WW
928
868
6.8
5.9
0.9
SHOCKWAVE
US
510
439
16.1
16.1
—
Intl
130
110
17.7
17.2
0.5
WW
640
550
16.4
16.3
0.1
OTHER CARDIOVASCULAR
US
65
63
3.1
3.1
—
Intl
127
144
(11.9)
(15.3)
3.4
WW
192
207
(7.4)
(9.7)
2.3
SURGERY
US
2,140
2,045
4.7
4.7
—
Intl
3,024
2,906
4.1
(0.3)
4.4
WW
5,164
4,951
4.3
1.8
2.5
ADVANCED
US
976
934
4.5
4.5
—
Intl
1,337
1,303
2.6
(1.4)
4.0
WW
2,312
2,237
3.4
1.0
2.4
GENERAL
US
1,165
1,111
4.8
4.8
—
Intl
1,687
1,603
5.2
0.7
4.5
WW
2,852
2,714
5.1
2.4
2.7
See footnotes at end of schedule
Johnson & Johnson
Segment sales
(Dollars in Millions)
SIX MONTHS
% Change
2026
2025
Reported
Operational(1)
Currency
MEDTECH SEGMENT(2)(Continued)
VISION
US
$1,144
1,123
1.9
%
1.9
%
—
%
Intl
1,672
1,526
9.6
6.7
2.9
WW
2,816
2,648
6.3
4.6
1.7
CONTACT LENSES / OTHER
US
913
881
3.7
3.7
—
Intl
1,081
1,003
7.7
5.0
2.7
WW
1,994
1,884
5.8
4.4
1.4
SURGICAL
US
231
242
(4.5)
(4.5)
—
Intl
591
523
13.1
9.8
3.3
WW
822
764
7.5
5.3
2.2
ORTHOPAEDICS
US
2,905
2,804
3.6
3.6
—
Intl
1,896
1,742
8.9
3.9
5.0
WW
4,801
4,546
5.6
3.7
1.9
HIPS
US
560
534
4.9
4.9
—
Intl
317
296
7.2
1.7
5.5
WW
877
830
5.7
3.8
1.9
KNEES
US
467
457
2.2
2.2
—
Intl
363
322
13.0
8.4
4.6
WW
830
778
6.7
4.8
1.9
TRAUMA
US
1,068
1,003
6.4
6.4
—
Intl
592
537
10.3
5.2
5.1
WW
1,660
1,540
7.8
6.0
1.8
SPINE, SPORTS & OTHER
US
810
810
0.0
0.0
—
Intl
624
588
6.1
1.3
4.8
WW
1,434
1,398
2.6
0.6
2.0
TOTAL MEDTECH
US
9,013
8,596
4.8
4.8
—
Intl
8,549
7,965
7.3
3.2
4.1
WW
$17,562
16,561
6.0
%
4.1
%
1.9
%
Note: Column and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
* Percentage greater than 100% or not meaningful
(1)Operational growth excludes the effect of translational currency
(2)Unaudited
(3)Includes the sales of ZYTIGA which were previously disclosed separately
(4)Reported as U.S. sales
(5)Acquired with Intra-Cellular Therapies on April 2, 2025
Mentions · how they’re counted
| Category | Underlined | Word counter | Model’s count |
|---|---|---|---|
| AI AI, artificial intelligence, generative AI, machine learning, large language model, LLM | 0 | 0 | 0 |
| Layoffs layoffs, RIF, headcount reduction, workforce optimization, restructuring | 13 | — | 0 |
| Recession recession, downturn, contraction, slowdown | 0 | 0 | 0 |
| Tariffs tariff, trade war, trade barriers, trade restrictions, trade policy | 0 | 0 | 0 |
| Buybacks share repurchase, buyback program | 0 | — | 0 |
Underlines use the same word lists the scores use. AI, recession and tariffs follow Palanor’s word counter, so those counts match it exactly on the same text. Layoffs and buybacks use the terms the model was given. The model’s count is an estimate by meaning, not by string, so it can differ from the underlines.
Not placed in the text
These quotes are stored with a score, but no passage here matches them closely enough to highlight. Rather than point at the wrong passage, they are listed as stored.
Theme · oncology franchise growth acceleration
“DARZALEX US $2,435 3,385 20.7% 20.7%; CARVYKTI US $472 358 31.7% 31.7%; CARVYKTI Intl 185 81”
Theme · neuroscience portfolio expansion
“CAPLYTA US $361 211 70.9 70.9; SPRAVATO US $514 366 40.7 40.7”
Theme · caplyta acquisition contribution
“CAPLYTA(5) US $631 211 * *; Acquired with Intra-Cellular Therapies on April 2, 2025”
Theme · medtech cardiovascular momentum
“ELECTROPHYSIOLOGY US $783 741 5.8% 5.8%; SHOCKWAVE US $268 233 14.6 14.6”
Theme · tax rate normalization
“Effective tax rate 18.0% 14.7%; Adjusted effective tax rate 18.2% 18.2%”
Source: SEC EDGAR · public domain · Highlights by Palanor