Johnson & Johnson (JNJ) 8-K Results of Operations and Financial Condition

Exhibit 99.2O

Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures)	THIRD QUARTER
	2010						2009						Percent
				Percent						Percent			Increase
	Amount			to Sales			Amount			to Sales			(Decrease)
Sales to customers	$	14,982			100.0		$	15,081			100.0			(0.7	)
Cost of products sold		4,594			30.7			4,434			29.4			3.6
Selling, marketing and administrative expenses		4,709			31.4			4,767			31.6			(1.2	)
Research expense		1,657			11.1			1,617			10.7			2.5
Interest (income)expense, net		95			0.6			114			0.7
Other (income)expense, net		(292	)		(2.0	)		(96	)		(0.6	)
Earnings before provision for taxes on income		4,219			28.2			4,245			28.2			(0.6	)
Provision for taxes on income		802			5.4			900			6.0			(10.9	)
Net earnings	$	3,417			22.8		$	3,345			22.2			2.2
Net earnings per share  (Diluted)	$	1.23					$	1.20						2.5
Average shares outstanding  (Diluted)		2,786.4						2,793.0
Effective tax rate		19.0	%					21.2	%

Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures)	NINE MONTHS
	2010					2009						Percent
				Percent					Percent			Increase
	Amount			to Sales		Amount			to Sales			(Decrease)
Sales to customers	$	45,943		100.0		$	45,346			100.0			1.3
Cost of products sold		13,752		29.9			13,135			29.0			4.7
Selling, marketing and administrative expenses		14,244		31.0			14,172			31.3			0.5
Research expense		4,862		10.6			4,773			10.5			1.9
Interest (income)expense, net		234		0.5			280			0.6
Other (income)expense, net		(1,868	)	(4.0	)		(165	)		(0.4	)
Earnings before provision for taxes on income		14,719		32.0			13,151			29.0			11.9
Provision for taxes on income		3,327		7.2			3,091			6.8			7.6
Net earnings	$	11,392		24.8		$	10,060			22.2			13.2
Net earnings per share  (Diluted)	$	4.08				$	3.61						13.0
Average shares outstanding  (Diluted)		2,792.0					2,787.9
Effective tax rate		22.6	%				23.5	%
Adjusted earnings before provision for taxes and net earnings(A)
Earnings before provision for taxes on income	$	13,379	(1)	29.1		$	13,151			29.0			1.7
Net earnings	$	10,415	(1)	22.7		$	10,060			22.2			3.5
Net earnings per share  (Diluted)	$	3.73	(1)			$	3.61						3.3
Effective tax rate		22.2	%				23.5	%
(1) The difference between as reported earnings and as adjusted earnings before provision for taxes on income, net earnings and net earnings
per share (diluted) is the exclusion of income from net litigation of $1,340 million, $977 million and $0.35 per share, respectively.

(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, they may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as business development, strategic developments (including restructuring and product line changes), significant litigation, and changes in ap plicable 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. These non-GAAP financial measures are presented solely to permit investors to more fully understand how management assesses the perfo rmance of the Company. 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 the effects of an acquisition, merger-related or other restructuring charges, or amortization of purchased intangibles, 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
Supplementary Sales Data
(Unaudited; Dollars in Millions)	THIRD QUARTER
				Percent Change
	2010		2009	Total		Operations			Currency
Sales to customers by
segment of business
Consumer
U.S.	$	1,277	1,691	(24.5	) %		(24.5	)		-
International		2,290	2,298	(0.3	)		0.4			(0.7	)
		3,567	3,989	(10.6	)		(10.2	)		(0.4	)
Pharmaceutical
U.S.		3,054	2,857	6.9			6.9			-
International		2,441	2,392	2.0			4.6			(2.6	)
		5,495	5,249	4.7			5.9			(1.2	)
Med Devices & Diagnostics
U.S.		2,800	2,766	1.2			1.2			-
International		3,120	3,077	1.4			2.6			(1.2	)
		5,920	5,843	1.3			1.9			(0.6	)
U.S.		7,131	7,314	(2.5	)		(2.5	)		-
International		7,851	7,767	1.1			2.6			(1.5	)
Worldwide	$	14,982	15,081	(0.7	) %		0.1			(0.8	)

Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)	NINE MONTHS
					Percent Change
	2010		2009		Total			Operations			Currency
Sales to customers by
segment of business
Consumer
U.S.	$	4,300		5,125		(16.1	) %		(16.1	)		-
International		6,680		6,429		3.9			0.5			3.4
		10,980		11,554		(5.0	)		(6.9	)		1.9
Pharmaceutical
U.S.		9,370		9,703		(3.4	)		(3.4	)		-
International		7,316		6,824		7.2			5.3			1.9
		16,686		16,527		1.0			0.2			0.8
Med Devices & Diagnostics
U.S.		8,551		8,194		4.4			4.4			-
International		9,726		9,071		7.2			4.5			2.7
		18,277		17,265		5.9			4.5			1.4
U.S.		22,221		23,022		(3.5	)		(3.5	)		-
International		23,722		22,324		6.3			3.7			2.6
Worldwide	$	45,943		45,346		1.3	%		0.0			1.3

Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)	THIRD QUARTER
					Percent Change
	2010		2009		Total			Operations			Currency
Sales to customers by
geographic area
U.S.	$	7,131		7,314		(2.5	) %		(2.5	)		-
Europe		3,629		3,879		(6.4	)		1.8			(8.2	)
Western Hemisphere excluding U.S.		1,424		1,338		6.4			1.7			4.7
Asia-Pacific, Africa		2,798		2,550		9.7			4.1			5.6
International		7,851		7,767		1.1			2.6			(1.5	)
Worldwide	$	14,982		15,081		(0.7	) %		0.1			(0.8	)

Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)	NINE MONTHS
					Percent Change
	2010		2009		Total			Operations			Currency
Sales to customers by
geographic area
U.S.	$	22,221		23,022		(3.5	) %		(3.5	)		-
Europe		11,563		11,522		0.4			2.6			(2.2	)
Western Hemisphere excluding U.S.		4,079		3,615		12.8			2.5			10.3
Asia-Pacific, Africa		8,080		7,187		12.4			5.9			6.5
International		23,722		22,324		6.3			3.7			2.6
Worldwide	$	45,943		45,346		1.3	%		0.0			1.3

REPORTED SALES vs. PRIOR PERIOD
$MM
	THIRD QUARTER
			% Change
	2010	2009	Reported	Operational (1)	Currency
CONSUMER SEGMENT (2)
SKIN CARE
US	311	370	(15.9%)	(15.9%)	-
Intl	489	472	3.6%	3.7%	(0.1%)
WW	800	842	(5.0%)	(4.9%)	(0.1%)
BABY CARE
US	104	102	2.0%	2.0%	-
Intl	462	442	4.5%	3.6%	0.9%
WW	566	544	4.0%	3.3%	0.7%
ORAL CARE
US	164	187	(12.3%)	(12.3%)	-
Intl	220	223	(1.3%)	(2.2%)	0.9%
WW	384	410	(6.3%)	(6.8%)	0.5%
OTC/NUTRITIONALS
US	438	732	(40.2%)	(40.2%)	-
Intl	671	666	0.8%	3.5%	(2.7%)
WW	1,109	1,398	(20.7%)	(19.4%)	(1.3%)
WOMEN'S HEALTH
US	121	142	(14.8%)	(14.8%)	-
Intl	338	360	(6.1%)	(5.1%)	(1.0%)
WW	459	502	(8.6%)	(7.9%)	(0.7%)
WOUND CARE/OTHER
US	139	158	(12.0%)	(12.0%)	-
Intl	110	135	(18.5%)	(18.5%)	0.0%
WW	249	293	(15.0%)	(15.0%)	0.0%
TOTAL CONSUMER
US	1,277	1,691	(24.5%)	(24.5%)	-
Intl	2,290	2,298	(0.3%)	0.4%	(0.7%)
WW	3,567	3,989	(10.6%)	(10.2%)	(0.4%)
Note: See footnotes at end of schedule

REPORTED SALES vs. PRIOR PERIOD
$MM
	THIRD QUARTER
			% Change
	2010	2009	Reported	Operational (1)	Currency

PHARMACEUTICAL SEGMENT  (2) (6)
ACIPHEX/PARIET
US	116	131	(11.5	%)	(11.5	%)	-
Intl	124	130	(4.6	%)	0.8	%	(5.4	%)
WW	240	261	(8.0	%)	(5.3	%)	(2.7	%)
CONCERTA
US	214	205	4.4	%	4.4	%	-
Intl	85	79	7.6	%	9.3	%	(1.7	%)
WW	299	284	5.3	%	5.8	%	(0.5	%)
DURAGESIC/FENTANYL TRANSDERMAL
US	42	38	10.5	%	10.5	%	-
Intl	142	168	(15.5	%)	(14.2	%)	(1.3	%)
WW	184	206	(10.7	%)	(9.6	%)	(1.1	%)
LEVAQUIN/FLOXIN
US	274	294	(6.8	%)	(6.8	%)	-
Intl	12	17	(29.4	%)	(31.5	%)	2.1	%
WW	286	311	(8.0	%)	(8.1	%)	0.1	%
PREZISTA
US	102	78	30.8	%	30.8	%	-
Intl	128	73	75.3	%	82.7	%	(7.4	%)
WW	230	151	52.3	%	55.9	%	(3.6	%)
PROCRIT/EPREX
US	204	299	(31.8	%)	(31.8	%)	-
Intl	202	243	(16.9	%)	(11.9	%)	(5.0	%)
WW	406	542	(25.1	%)	(22.9	%)	(2.2	%)
REMICADE
US	857	822	4.3	%	4.3	%	-
US Exports (3)	365	208	75.5	%	75.5	%	-
Intl	7	6	16.7	%	16.7	%	0.0	%
WW	1,229	1,036	18.6	%	18.6	%	-
Note: See footnotes at end of schedule

REPORTED SALES vs. PRIOR PERIOD
$MM
	THIRD QUARTER
			% Change
	2010	2009	Reported	Operational (1)	Currency

PHARMACEUTICAL SEGMENT (2) (6) (Continued)
RISPERDAL/RISPERIDONE
US	(2	)	35	(105.7	%)	(105.7	%)	-
Intl	123		157	(21.7	%)	(22.8	%)	1.1	%
WW	121		192	(37.0	%)	(37.9	%)	0.9	%
RISPERDAL CONSTA
US	108		129	(16.3	%)	(16.3	%)	-
Intl	270		224	20.5	%	26.6	%	(6.1	%)
WW	378		353	7.1	%	11.0	%	(3.9	%)
TOPAMAX
US	46		72	(36.1	%)	(36.1	%)	-
Intl	81		103	(21.4	%)	(18.1	%)	(3.3	%)
WW	127		175	(27.4	%)	(25.4	%)	(2.0	%)
VELCADE
US	-		-	-		-		-
Intl	246		231	6.5	%	10.1	%	(3.6	%)
WW	246		231	6.5	%	10.1	%	(3.6	%)
OTHER
US	728		546	33.3	%	33.3	%	-
Intl	1,021		961	6.2	%	7.4	%	(1.2	%)
WW	1,749		1,507	16.1	%	16.9	%	(0.8	%)
TOTAL PHARMACEUTICAL
US	3,054		2,857	6.9	%	6.9	%	-
Intl	2,441		2,392	2.0	%	4.6	%	(2.6	%)
WW	5,495		5,249	4.7	%	5.9	%	(1.2	%)
MAJOR NEW PHARMACEUTICAL PRODUCTS (4)
INVEGA
US	63		61	3.3	%	3.3	%	-
Intl	35		36	(2.8	%)	1.7	%	(4.5	%)
WW	98		97	1.0	%	2.7	%	(1.7	%)
Note: See footnotes at end of schedule

REPORTED SALES vs. PRIOR PERIOD
$MM
	THIRD QUARTER
			% Change
	2010	2009	Reported	Operational (1)	Currency

MEDICAL DEVICES AND DIAGNOSTICS   (2)
CORDIS (5)
US	246	233	5.6	%	5.6	%	-
Intl	350	407	(14.0	%)	(13.5	%)	(0.5	%)
WW	596	640	(6.9	%)	(6.6	%)	(0.3	%)
DEPUY
US	748	740	1.1	%	1.1	%	-
Intl	561	544	3.1	%	4.8	%	(1.7	%)
WW	1,309	1,284	1.9	%	2.6	%	(0.7	%)
DIABETES CARE
US	338	332	1.8	%	1.8	%	-
Intl	275	302	(8.9	%)	0.2	%	(9.1	%)
WW	613	634	(3.3	%)	1.0	%	(4.3	%)
ETHICON
US	480	439	9.3	%	9.3	%	-
Intl	592	580	2.1	%	3.4	%	(1.3	%)
WW	1,072	1,019	5.2	%	6.0	%	(0.8	%)
ETHICON ENDO-SURGERY
US	484	499	(3.0	%)	(3.0	%)	-
Intl	653	607	7.6	%	8.4	%	(0.8	%)
WW	1,137	1,106	2.8	%	3.3	%	(0.5	%)
ORTHO-CLINICAL DIAGNOSTICS
US	263	285	(7.7	%)	(7.7	%)	-
Intl	235	216	8.8	%	9.2	%	(0.4	%)
WW	498	501	(0.6	%)	(0.4	%)	(0.2	%)
VISION CARE
US	241	238	1.3	%	1.3	%	-
Intl	454	421	7.8	%	4.0	%	3.8	%
WW	695	659	5.5	%	3.1	%	2.4	%
TOTAL MEDICAL DEVICES AND DIAGNOSTICS
US	2,800	2,766	1.2	%	1.2	%	-
Intl	3,120	3,077	1.4	%	2.6	%	(1.2	%)
WW	5,920	5,843	1.3	%	1.9	%	(0.6	%)
Note: See footnotes at end of schedule

REPORTED SALES vs. PRIOR PERIOD
$MM
	NINE MONTHS
			% Change
	2010	2009	Reported	Operational (1)	Currency

CONSUMER SEGMENT (2)
SKIN CARE
US	1,185	1,204	(1.6	%)	(1.6	%)	-
Intl	1,378	1,313	5.0	%	2.0	%	3.0	%
WW	2,563	2,517	1.8	%	0.2	%	1.6	%
BABY CARE
US	306	308	(0.6	%)	(0.6	%)	-
Intl	1,326	1,233	7.5	%	3.3	%	4.2	%
WW	1,632	1,541	5.9	%	2.5	%	3.4	%
ORAL CARE
US	486	549	(11.5	%)	(11.5	%)	-
Intl	651	612	6.4	%	1.3	%	5.1	%
WW	1,137	1,161	(2.1	%)	(4.8	%)	2.7	%
OTC/NUTRITIONALS
US	1,472	2,137	(31.1	%)	(31.1	%)	-
Intl	1,985	1,919	3.4	%	0.7	%	2.7	%
WW	3,457	4,056	(14.8	%)	(16.1	%)	1.3	%
WOMEN'S HEALTH
US	404	443	(8.8	%)	(8.8	%)	-
Intl	990	963	2.8	%	(0.4	%)	3.2	%
WW	1,394	1,406	(0.9	%)	(3.1	%)	2.2	%
WOUND CARE/OTHER
US	447	484	(7.6	%)	(7.6	%)	-
Intl	350	389	(10.0	%)	(13.9	%)	3.9	%
WW	797	873	(8.7	%)	(10.4	%)	1.7	%
TOTAL CONSUMER
US	4,300	5,125	(16.1	%)	(16.1	%)	-
Intl	6,680	6,429	3.9	%	0.5	%	3.4	%
WW	10,980	11,554	(5.0	%)	(6.9	%)	1.9	%
Note: See footnotes at end of schedule

REPORTED SALES vs. PRIOR PERIOD
$MM
	NINE MONTHS
			% Change
	2010	2009	Reported	Operational (1)	Currency

PHARMACEUTICAL SEGMENT  (2) (6)
ACIPHEX/PARIET
US	356	397	(10.3	%)	(10.3	%)	-
Intl	398	387	2.8	%	2.0	%	0.8	%
WW	754	784	(3.8	%)	(4.2	%)	0.4	%
CONCERTA
US	668	707	(5.5	%)	(5.5	%)	-
Intl	283	238	18.9	%	14.3	%	4.6	%
WW	951	945	0.6	%	(0.6	%)	1.2	%
DURAGESIC/FENTANYL TRANSDERMAL
US	117	163	(28.2	%)	(28.2	%)	-
Intl	435	492	(11.6	%)	(13.4	%)	1.8	%
WW	552	655	(15.7	%)	(17.1	%)	1.4	%
LEVAQUIN/FLOXIN
US	926	1,045	(11.4	%)	(11.4	%)	-
Intl	31	53	(41.5	%)	(44.2	%)	2.7	%
WW	957	1,098	(12.8	%)	(12.9	%)	0.1	%
PREZISTA
US	290	215	34.9	%	34.9	%	-
Intl	331	198	67.2	%	66.8	%	0.4	%
WW	621	413	50.4	%	50.2	%	0.2	%
PROCRIT/EPREX
US	800	950	(15.8	%)	(15.8	%)	-
Intl	655	719	(8.9	%)	(9.2	%)	0.3	%
WW	1,455	1,669	(12.8	%)	(12.9	%)	0.1	%
REMICADE
US	2,420	2,330	3.9	%	3.9	%	-
US Exports (3)	1,106	821	34.7	%	34.7	%	-
Intl	19	15	26.7	%	26.7	%	0.0	%
WW	3,545	3,166	12.0	%	12.0	%	-
Note: See footnotes at end of schedule

REPORTED SALES vs. PRIOR PERIOD
$MM
	NINE MONTHS
			% Change
	2010	2009	Reported	Operational (1)	Currency

PHARMACEUTICAL SEGMENT (2) (6) (Continued)
RISPERDAL/RISPERIDONE
US	(14	)	223	(106.3	%)	(106.3	%)	-
Intl	390		483	(19.3	%)	(21.7	%)	2.4	%
WW	376		706	(46.7	%)	(48.4	%)	1.7	%
RISPERDAL CONSTA
US	340		386	(11.9	%)	(11.9	%)	-
Intl	772		640	20.6	%	20.3	%	0.3	%
WW	1,112		1,026	8.4	%	8.2	%	0.2	%
TOPAMAX
US	162		642	(74.8	%)	(74.8	%)	-
Intl	255		317	(19.6	%)	(20.5	%)	0.9	%
WW	417		959	(56.5	%)	(56.8	%)	0.3	%
VELCADE
US	-		-	-		-		-
Intl	793		652	21.6	%	20.3	%	1.3	%
WW	793		652	21.6	%	20.3	%	1.3	%
OTHER
US	2,199		1,824	20.6	%	20.6	%	-
Intl	2,954		2,630	12.3	%	9.4	%	2.9	%
WW	5,153		4,454	15.7	%	14.0	%	1.7	%
TOTAL PHARMACEUTICAL
US	9,370		9,703	(3.4	%)	(3.4	%)	-
Intl	7,316		6,824	7.2	%	5.3	%	1.9	%
WW	16,686		16,527	1.0	%	0.2	%	0.8	%
MAJOR NEW PHARMACEUTICAL PRODUCTS (4)
INVEGA
US	200		194	3.1	%	3.1	%	-
Intl	108		93	16.1	%	15.2	%	0.9	%
WW	308		287	7.3	%	7.0	%	0.3	%
Note: See footnotes at end of schedule

REPORTED SALES vs. PRIOR PERIOD
$MM
	NINE MONTHS
			% Change
	2010	2009	Reported	Operational (1)	Currency

MEDICAL DEVICES AND DIAGNOSTICS   (2)
CORDIS (5)
US	762	731	4.2	%	4.2	%	-
Intl	1,161	1,251	(7.2	%)	(9.4	%)	2.2	%
WW	1,923	1,982	(3.0	%)	(4.4	%)	1.4	%
DEPUY
US	2,338	2,268	3.1	%	3.1	%	-
Intl	1,800	1,631	10.4	%	7.3	%	3.1	%
WW	4,138	3,899	6.1	%	4.8	%	1.3	%
DIABETES CARE
US	941	908	3.6	%	3.6	%	-
Intl	885	877	0.9	%	2.1	%	(1.2	%)
WW	1,826	1,785	2.3	%	2.9	%	(0.6	%)
ETHICON
US	1,499	1,296	15.7	%	15.7	%	-
Intl	1,852	1,717	7.9	%	5.3	%	2.6	%
WW	3,351	3,013	11.2	%	9.7	%	1.5	%
ETHICON ENDO-SURGERY
US	1,474	1,442	2.2	%	2.2	%	-
Intl	2,027	1,794	13.0	%	9.9	%	3.1	%
WW	3,501	3,236	8.2	%	6.5	%	1.7	%
ORTHO-CLINICAL DIAGNOSTICS
US	815	846	(3.7	%)	(3.7	%)	-
Intl	702	616	14.0	%	11.1	%	2.9	%
WW	1,517	1,462	3.8	%	2.6	%	1.2	%
VISION CARE
US	722	703	2.7	%	2.7	%	-
Intl	1,299	1,185	9.6	%	4.9	%	4.7	%
WW	2,021	1,888	7.0	%	4.0	%	3.0	%
TOTAL MEDICAL DEVICES AND DIAGNOSTICS
US	8,551	8,194	4.4	%	4.4	%	-
Intl	9,726	9,071	7.2	%	4.5	%	2.7	%
WW	18,277	17,265	5.9	%	4.5	%	1.4	%
(1) Operational growth excludes the effect of currency
(2) Select areas (unaudited)
(3) Reported in U.S. sales
(4) Included in Other
(5) Includes sales of Drug-Eluting Stents for Q3 2010 of $47, $89 and $136MM Domestic, International and Worldwide respectively
Includes sales of Drug-Eluting Stents for Q3 2009 of $53, $158 and $211MM Domestic, International and Worldwide respectively
Includes sales of Drug-Eluting Stents for September YTD 2010 of $166, $327 and $493MM Domestic, International and Worldwide respectively
Includes sales of Drug-Eluting Stents for September YTD 2009 of $189, $507 and $696MM Domestic, International and Worldwide respectively
(6) Conforms to current presentation