Exhibit 99.15
FOR IMMEDIATE RELEASE
Johnson & Johnson Reports Fourth-Quarter and Full-Year 2006
Results
2006 Fourth-Quarter EPS Rose 5.7% on Sales Increase of 8.5%
2006 Full-Year EPS Rose 11.3% on Sales Increase of 5.6%
Excluding Special Items, 2006 Fourth-Quarter EPS Rose 15.7%
and Full-Year EPS Rose 10.9%*
NEW BRUNSWICK, N.J., Jan 23, 2007 /PRNewswire-FirstCall via
COMTEX News Network/ -- Johnson & Johnson today announced
record sales of $13.7 billion for the fourth quarter of
2006, an increase of 8.5% as compared to the fourth quarter
of 2005. Operational growth was 6.2% with a positive
currency impact of 2.3%. Domestic sales were up 6.4%, while
international sales increased 11.2%, reflecting operational
growth of 6.0% and a positive currency impact of 5.2%.
Worldwide sales for the year 2006 were $53.3 billion, an
increase of 5.6% over 2005, increasing operationally by 5.3%
with currency contributing .3%.
Net earnings and diluted earnings per share for the fourth
quarter of 2006 were $2.2 billion and $.74 respectively. Net
earnings for the fourth quarter of 2006 included an after-
tax charge for in-process research and development of $217
million associated with the acquisition of Pfizer Consumer
Healthcare. Excluding this charge, 2006 fourth-quarter net
earnings were $2.4 billion and earnings per share were $.81,
representing increases of 13.5% and 15.7%, respectively, as
compared with the same period in 2005.*
Net earnings and diluted earnings per share for the year, as
reported, were $11.1 billion and $3.73, increases of 9.9%
and 11.3%, respectively, as compared with 2005. Full-year
2006 net earnings included after-tax charges for in-process
research and development of $448 million and an after-tax
gain of $368 million associated with the termination of the
Guidant acquisition agreement. Full-year 2005 net earnings
included after-tax charges for in- process research and
development of $359 million and a gain of $225 million for a
tax adjustment associated with a technical correction made
to the American Jobs Creation Act. Excluding these items,
net earnings for the year were $11.1 billion and earnings
per share were $3.76, representing increases of 9.2% and
10.9%, respectively, as compared with the same period in
2005.*
"Johnson & Johnson had a solid year in 2006, delivering
double-digit growth in earnings per share while continuing
to invest in building our businesses for the future," said
William C. Weldon, Chairman and Chief Executive Officer.
"We're very excited about the completion of the Pfizer
Consumer Healthcare acquisition, which not only brings to
Johnson & Johnson some of the world's premier consumer
brands, but also builds upon our broad base in human health
care."
Worldwide, the Medical Devices and Diagnostics segment
achieved annual sales of $20.3 billion in 2006, representing
an increase over the prior year of 6.2% with operational
growth of 6.4% and a negative currency impact of .2%.
Domestic sales increased 6.5%, while international sales
increased 5.9% (6.2% from operations less .3% from negative
currency).
Primary contributors to the operational growth included
Ethicon Endo- Surgery's minimally invasive products; DePuy's
orthopaedic joint reconstruction, sports medicine and trauma
businesses; Vistakon's disposable contact lenses, and
LifeScan's blood glucose monitoring and insulin delivery
products.
During the quarter, the Company announced that it had
entered into a definitive agreement to acquire Conor
Medsystems, Inc., a cardiovascular device company with a
unique controlled drug delivery technology. The Company also
received approval from the U.S. Food and Drug Administration
(FDA) for the first blood-screening test for Chagas'
disease, a tropical, parasitic disease.
Worldwide Pharmaceutical sales of $23.3 billion for the full-
year 2006 represented an increase of 4.2% versus the prior
year with operational growth of 3.9% and a positive impact
from currency of .3%. Domestic sales increased 4.2%, while
international sales also increased 4.2% (3.4% from
operations and .8% from currency).
Sales growth reflects the strong performance of RISPERDAL,
an antipsychotic medication; REMICADE, a biologic approved
for the treatment of a number of Immune Mediated
Inflammatory Diseases; TOPAMAX, an antiepileptic and a
treatment for the prevention of migraine headaches; VELCADE,
a treatment for multiple myeloma, and CONCERTA, a treatment
for attention deficit hyperactivity disorder.
During the quarter, the Company received approval from the
FDA for INVEGA (paliperidone) Extended-Release Tablets, a
new atypical antipsychotic for the treatment of
schizophrenia. The Company also submitted a new drug
application to the FDA for doripenem, an antibiotic for the
treatment of complicated intra-abdominal and complicated
urinary tract infections. In addition, the Company submitted
a supplemental new drug application for DOXIL (doxorubicin
HCl liposome injection) as combination therapy with VELCADE
(bortezomib) to treat patients with multiple myeloma who
have received at least one prior therapy.
Worldwide Consumer segment annual sales in 2006 were $9.8
billion, an increase of 7.5% over the prior year with
operational growth of 6.4% and a positive impact from
currency of 1.1%. Domestic sales increased 3.8%, while
international sales increased 10.9% (8.7% from operations
and 2.2% from currency).
Sales results reflect growth in the skin care lines of
AVEENO, JOHNSON's adult skin products, CLEAN & CLEAR, as
well as sun care and products from the acquisition of Group
Vendome. Strong growth in Baby & Child Care products also
contributed to the results.
Late in the quarter, the Company announced the completion of
the acquisition of Pfizer Consumer Healthcare, creating the
world's premier consumer health care company.
Johnson & Johnson is the world's most comprehensive and
broadly based manufacturer of health care products, as well
as a provider of related services, for the consumer,
pharmaceutical, and medical devices and diagnostics markets.
The more than 200 Johnson & Johnson operating companies
employ approximately 122,000 men and women and sell products
throughout the world.
* Net earnings and diluted earnings per share excluding
in-process research and development charges, the gain
associated with the termination of the Guidant
acquisition agreement, and a tax adjustment associated
with a technical correction made to the American Jobs
Creation Act are non-GAAP financial measures and
should not be considered replacements for GAAP results.
For a reconciliation of these non-GAAP financial
measures to the most directly comparable GAAP
financial measures, see the accompanying tables to
this release.
NOTE TO INVESTORS
Johnson & Johnson will conduct a meeting with financial
analysts to discuss this news release today at 8:30 a.m.,
Eastern Standard Time. A simultaneous webcast of the meeting
for interested investors and others may be accessed by
visiting the Johnson & Johnson website at www.jnj.com. A
webcast and podcast replay will be available approximately
two hours after the live webcast by visiting www.jnj.com and
clicking on "Webcasts/Presentations" in the Investor
Relations section.
(This press release contains "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of
1995. These statements are based on current expectations of
future events. If underlying assumptions prove inaccurate or
unknown risks or uncertainties materialize, actual results
could vary materially from the Company's expectations and
projections. Risks and uncertainties include general
industry conditions and competition; economic conditions,
such as interest rate and currency exchange rate
fluctuations; technological advances and patents attained by
competitors; challenges inherent in new product development,
including obtaining regulatory approvals; domestic and
foreign health care reforms and governmental laws and
regulations; and trends toward health care cost containment.
A further list and description of these risks, uncertainties
and other factors can be found in Exhibit 99 of the
Company's Annual Report on Form 10-K for the fiscal year
ended January 1, 2006. Copies of this Form 10-K, as well as
subsequent filings, are available online at www.sec.gov or
on request from the Company. The Company does not undertake
to update any forward-looking statements as a result of new
information or future events or developments.)
For more information on Johnson & Johnson, please visit the
Company's website at http://www.jnj.com.