Johnson & Johnson Org Chart and Sales Intelligence Blog
Johnson & Johnson
One Johnson & Johnson Plaza
New Brunswick, NJ 08933
732 524 0400
Johnson & Johnson Blog HighlightsJohnson & Johnson (NYSE: JNJ) is ranked #35 on the 2020 Fortune 500 list
- In talks to supply Covid-19 vaccine in Europe
- Postponed 2020 Medical Devices Business Review due to Coronavirus
- Expanding partnership with the U.S. Department of Health & Human Services to accelerate research
- Jim Swanson is the new EVP and CIO as of 10 months ago
Latest Johnson & Johnson Earnings Call ExcerptsJuly 16, 2020
Executives In Attendance
- Chris DelOrefice, Vice President of Investor Relations
- Paul Stoffels, Vice Chairman of the Executive Committee and Chief Scientific Officer
- Joe Wolk, Executive Vice President, Chief Financial Officer, and Treasurer
- Joaquin Duato -- Vice Chairman, Executive Committee
- Alex Gorsky, Chairman of the Board of Directors and Chief Executive Officer
- David Lewis -- Morgan Stanley -- Analyst
- Larry Biegelsen -- Wells Fargo -- Analyst
- Kristen Stewart -- Barclays -- Analyst
- Matt Miksic -- Credit Suisse -- Analyst
- Bob Hopkins -- Bank of America Merrill Lynch -- Analyst
- Louise Chen -- Cantor Fitzgerald -- Analyst
- Chris Schott, J.P. Morgan -- Analyst
- Terence Flynn -- Goldman Sachs -- Analyst
• Operational sales growth, which excludes the effect of translational currency, decreased 9% as currency had a negative impact of 1.8 points. In the US, sales decreased 8.3%. In regions outside the US, our reported decline was 13.4%.
• Consumer health segment realized a negative estimated impact associated with COVID-19 of about 700 basis points. This impact was the result of consumers stocking products during the first quarter and lower consumption due to government lockdowns during the second quarter.
• Over-the-counter medicines grew globally almost 11%, with about 30% growth in the US and a 5% decline outside the US. In the US, they estimate about two-thirds of the growth was due to the COVID-19 pandemic as they continue to see strong demand and share gains for adult Tylenol.
• Oral care franchise was positively impacted by COVID-19 as the franchise grew 6.3% from strong demand of adult Listerine primarily in the US across multiple channels. Growth outside of the US was also driven by Asia Pacific from promotional activities and new product launches of adult Listerine. The skin, health and beauty franchise declined 14.3% and was the franchise that was most negatively impacted by COVID-19 due to changes in consumers' skin health and beauty routines.
• Worldwide pharmaceutical sales of $10.8 billion grew 3.9%, enabled by growth across all regions and in all key therapeutic areas, except for the cardiovascular, metabolism and other therapeutic area, due primarily to biosimilar competition on PROCRIT. They realized double-digit growth in eight key products.
• Oncology portfolio delivered another strong quarter with worldwide growth of 5.7%. Their prior-year results included a favorable onetime adjustment for DARZALEX related to the completion of pricing and reimbursement discussions in certain European countries.
• Worldwide medical devices sales were $4.3 billion, declining by 32.7% due to the negative impact of COVID-19 restricting elective procedures across all regions. Sales declined in the US by 39.6% and declined 26.4% outside the US Given the negative impact of COVID-19 across all platforms.
• Knees and spine also showed improvement globally throughout the quarter with June declines of around 21% and 15%, respectively
• Wound closure declined almost 28% for the quarter, with June declining 17%. Vision declined by 39.3% in total, with contact lenses declining 33.6% and surgical declining 55.2%.
• Johnson & Johnson continue to invest in research and development at competitive levels, investing 14.8% of sales this quarter.
• They announced their lead COVID-19 vaccine candidate on March 30. And since then, they have made significant progress. They have seen strong preclinical data so far, which were published in the Journal of Science in May. These data validated the preclinical vaccine challenge model and showed that prototype DNA vaccines were able to create strong immunity. The trials will be conducted in more than 1,000 healthy adults aged 18 to 55 years as well as adult aged 65 years and older. Their study sites are located in the US and Belgium. They are also planning for a Phase 2 study in the Netherlands, Spain and Germany and plan to conduct a Phase 1 study in Japan.
JNJ Earnings Call on July 16, 2020: https://www.fool.com/earnings/call-transcripts/2020/07/16/johnson-johnson-jnj-q2-2020-earnings-call-transcri.aspx
Johnson & Johnson Annual Report Highlights
10-K filed February 18, 2020
One Johnson & Johnson Plaza
New Brunswick, New Jersey 08933
Main Phone: (732) 524-0400
|Vice Chairman, Executive Committee
|Peter M. Fasolo, Ph.D.
|Member, Executive Committee; Executive Vice President, Chief Human Resources Officer
|Chairman, Board of Directors; Chairman, Executive Committee; Chief Executive Officer
|Member, Executive Committee; Executive Vice President, Worldwide Chairman, Medical Devices
|Member, Executive Committee, Executive Vice President, Worldwide Chairman, Consumer
|Michael E. Sneed
|Member, Executive Committee; Executive Vice President, Global Corporate Affairs and Chief Communication Officer
|Paulus Stoffels, M.D.
|Vice Chairman, Executive Committee; Chief Scientific Officer
|Jennifer L. Taubert
|Member, Executive Committee; Executive Vice President, Worldwide Chairman, Pharmaceuticals
|Michael H. Ullmann
|Member, Executive Committee; Executive Vice President, General Counsel
|Kathryn E. Wengel
|Member, Executive Committee; Executive Vice President, Chief Global Supply Chain Officer
|Joseph J. Wolk
|Member, Executive Committee; Executive Vice President, Chief Financial Officer
Johnson & Johnson and its subsidiaries (the Company) have approximately 132,200 employees worldwide engaged in the research and development, manufacture and sale of a broad range of products in the health care field. The Company conducts business in virtually all countries of the world with the primary focus on products related to human health and well-being.
The Company is organized into three business segments:
- Pharmaceutical and
- Medical Devices.
The Consumer segment includes a broad range of products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health and wound care markets. These products are marketed to the general public and sold both to retail outlets and distributors throughout the world.
The Pharmaceutical segment is focused on six therapeutic areas, including immunology, infectious diseases, neuroscience, oncology, pulmonary hypertension, and cardiovascular and metabolic diseases. Products in this segment are distributed directly to retailers, wholesalers, hospitals and health care professionals for prescription use.
The Medical Devices segment includes a broad range of products used in the orthopaedic, surgery, interventional solutions (cardiovascular and neurovascular) and eye health fields. These products are distributed to wholesalers, hospitals and retailers, and used principally in the professional fields by physicians, nurses, hospitals, eye care professionals and clinics.
The Executive Committee of Johnson & Johnson is the principal management group responsible for the strategic operations and allocation of the resources of the Company. This Committee oversees and coordinates the activities of the Consumer, Pharmaceutical and Medical Devices business segments.
The Company's subsidiaries operate 97 manufacturing facilities occupying approximately 15.2 million square feet of floor space.
J&J Financial Highlights
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J&J Management’s Objectives
With “Our Credo” as the foundation, the Company’s purpose is to blend heart, science and ingenuity to profoundly change the trajectory of health for humanity. The Company is committed to bringing its full breadth and depth to ensure health for people today and for future generations. United around this common ambition, the Company is poised to fulfill its purpose and successfully meet the demands of the rapidly evolving markets in which it competes.
The Company is broadly based in human healthcare, and is committed to creating value by developing accessible, high quality, innovative products and services. New products introduced within the past five years accounted for approximately 25% of 2019 sales. In 2019, $11.4 billion was invested in research and development and $5.8 billion spent on acquisitions, reflecting management’s commitment to create life-enhancing innovations and to create value through partnerships that will profoundly change the trajectory of health for humanity.
A critical driver of the Company’s success is the 132,200 diverse employees worldwide. Employees are empowered and inspired to lead with the Company’s Our Credo and purpose as guides. This allows every employee to use the Company’s reach and size to advance the Company's purpose, and to also lead with agility and urgency. Leveraging the extensive resources across the enterprise, enables the Company to innovate and execute with excellence. This ensures the Company can remain focused on addressing the unmet needs of society every day and invest for an enduring impact, ultimately delivering value to its patients, consumers and healthcare professionals, employees, communities and shareholders.
In the fiscal second quarter of 2018, the Company announced plans to implement actions across its global supply chain that are intended to enable the Company to focus resources and increase investments in critical capabilities, technologies and solutions necessary to manufacture and supply its product portfolio of the future, enhance agility and drive growth. The Company expects these supply chain actions will include expanding its use of strategic collaborations, and bolstering its initiatives to reduce complexity, improving cost-competitiveness, enhancing capabilities and optimizing its network. Discussions regarding specific future actions are ongoing and are subject to all relevant consultation requirements before they are finalized. In total, the Company expects these actions to generate approximately $0.6 to $0.8 billion in annual pre-tax cost savings that will be substantially delivered by 2022.
New Accounting Standards
Recently Adopted Accounting Standards
The Company adopted this standard as of the beginning of fiscal year 2019, on a prospective basis. This update requires the recognition of lease assets and lease liabilities on the balance sheet for all lease obligations and disclosing key information about leasing arrangements. This update requires the recognition of lease assets and lease liabilities by lessees for arrangements that are classified as operating leases. The Company’s operating leases resulted in the recognition of additional assets and the corresponding liabilities on its Consolidated Balance Sheet, however it did not have a material impact on the consolidated financial statements.
Johnson & Johnson Org Chart featuring the Executive Leadership Team
Johnson & Johnson Org Chart featuring the Board of Directors
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