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JOHNSON & JOHNSON (JNJ)

Johnson & Johnson (JNJ) is a global healthcare company that operates through two main business segments: Innovative Medicine and MedTech. The company focuses on developing and distributing therapeutic products in areas such as Immunology, Infectious Diseases, Neuroscience, Oncology, Pulmonary Hypertension, and Cardiovascular and Metabolic diseases, as well as medical devices used in Orthopaedics, Surgery, Interventional Solutions, and Vision fields . Johnson & Johnson's products are distributed to retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use .

  1. Innovative Medicine - Develops and distributes therapeutic products in areas including Immunology, Infectious Diseases, Neuroscience, Oncology, Pulmonary Hypertension, and Cardiovascular and Metabolic diseases. Key products include STELARA and DARZALEX, which are significant contributors to the company's revenue .
  2. MedTech - Offers medical devices and solutions used in Orthopaedics, Surgery, Interventional Solutions, and Vision fields. These products are primarily used by healthcare professionals such as physicians and nurses .

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NamePositionExternal RolesShort Bio

Joaquin Duato

ExecutiveBoard

Chairman of the Board and CEO

Member of the Business Council and Business Roundtable.

Joined JNJ in 1989; became CEO in 2022 and Chairman in 2023. Led strategic initiatives in Pharmaceuticals and MedTech.

View Report →

Elizabeth Forminard

Executive

EVP, General Counsel

None.

Joined JNJ in 2006; leads legal, privacy, and ESG strategies.

James Swanson

Executive

EVP, Chief Information Officer

None.

Joined JNJ in 1996; rejoined in 2019 after a tenure at Bayer. Leads digital transformation and IT strategy.

Jennifer L. Taubert

Executive

EVP, Worldwide Chairman, Innovative Medicine

Board Member at McDonald's Corporation.

Joined JNJ in 2005; leads Innovative Medicine. Delivered 11 years of above-market growth.

John C. Reed

Executive

EVP, Innovative Medicine, R&D

None.

Joined JNJ in 2023; oversees R&D for Innovative Medicine. Formerly held leadership roles at Sanofi and Roche.

Joseph J. Wolk

Executive

EVP, Chief Financial Officer

None.

Joined JNJ in 1998; became CFO in 2018. Leads global financial strategy and operations.

Kathryn E. Wengel

Executive

EVP, Chief Technical Operations & Risk Officer

None.

Joined JNJ in 1988; oversees technical operations, supply chain, and risk management.

Kristen Mulholland

Executive

EVP, Chief Human Resources Officer

None.

Joined JNJ in 2005; became CHRO in 2024. Played a key role in the Kenvue separation.

Tim Schmid

Executive

EVP, Worldwide Chairman of MedTech

None.

Joined JNJ in 1993; became MedTech Chairman in 2023. Led MedTech APAC and strategic customer initiatives.

Vanessa Broadhurst

Executive

EVP, Global Corporate Affairs

None.

Joined JNJ in 2005; oversees global marketing, communications, public health, and philanthropy.

Darius Adamczyk

Board

Independent Director

Executive Chairman of Honeywell; Vice Chair of US-China Business Council; Member of Business Roundtable and Aspen Economic Strategy Group.

Joined JNJ Board in 2022. Brings expertise in global business operations and technology.

Eugene A. Woods

Board

Independent Director

CEO of Advocate Health; Board Member at Best Buy; Chair of Charlotte Executive Leadership Council.

Joined JNJ Board in 2023. Healthcare leader with over 30 years of experience.

Jennifer A. Doudna

Board

Independent Director

Professor at UC Berkeley; Advisory Board Member at Caribou Biosciences and Intellia Therapeutics; Trustee at Pomona College.

Joined JNJ Board in 2018. Nobel Prize-winning scientist for CRISPR-Cas9 genome editing.

Marillyn A. Hewson

Board

Independent Director

Board Member at Chevron; Trustee at University of Alabama; Fellow of American Academy of Arts and Sciences.

Joined JNJ Board in 2019. Former Chairman and CEO of Lockheed Martin.

Mark A. Weinberger

Board

Independent Director

Board Member at JPMorgan Chase, MetLife, and Saudi Aramco; Advisor to Tanium, Stone Canyon, and Teneo.

Joined JNJ Board in 2019. Former Global Chairman and CEO of EY.

Mary C. Beckerle

Board

Independent Director

CEO of Huntsman Cancer Institute; Board Member at Huntsman Corporation and Exelixis; Trustee at Pomona College.

Joined JNJ Board in 2015. Renowned scientist and leader in cancer research.

Nadja Y. West

Board

Independent Director

Board Member at Nucor and Tenet Healthcare; Trustee at National Recreation Foundation and Mount St. Mary\u2019s University.

Joined JNJ Board in 2020. Former U.S. Army Surgeon General and Lieutenant General.

  1. Can you elaborate on the impact of patient mix issues on U.S. sales of TREMFYA and STELARA, and whether this is specific to Johnson & Johnson or indicative of broader market trends?

  2. Given the challenges posed by volume-based procurement and the anti-corruption campaign in China, how do you plan to mitigate the headwinds facing your MedTech business in the Asia Pacific region, and what are your expectations for 2025?

  3. With the upcoming biosimilar competition for STELARA, how confident are you that TREMFYA and JNJ-2113 can replace the sales loss and take market share from entrenched competitors in the immunology space?

  4. In light of the competitive pressures in the electrophysiology market and the delayed U.S. launch of VARIPULSE, how do you intend to regain share, and what are your expectations for your EP business in 2025?

  5. Considering the increased R&D investments and recent acquisitions, can you provide more details on where these elevated investments are being directed and how they will impact your operating margins and growth targets for the coming year?

Research analysts who have asked questions during JOHNSON & JOHNSON earnings calls.

Terence Flynn

Morgan Stanley

6 questions for JNJ

Also covers: ABBV, AMGN, ARVN +17 more

Larry Biegelsen

Wells Fargo & Company

5 questions for JNJ

Also covers: ABT, ALC, AXNX +24 more

Vamil Divan

Guggenheim Securities

5 questions for JNJ

Also covers: ABBV, ABSI, ANIP +7 more

Asad Haider

Goldman Sachs

4 questions for JNJ

Also covers: ABBV, BMY, BNTX +3 more

Chris Schott

JPMorgan Chase & Co.

3 questions for JNJ

Also covers: ABBV, AMGN, BMY +11 more

Christopher Schott

JPMorgan Chase & Co.

3 questions for JNJ

Also covers: ABBV, AMGN, AMRX +13 more

Danielle Antalffy

UBS Group AG

3 questions for JNJ

Also covers: ABT, ATRC, BAX +15 more

Jayson Bedford

Raymond James

3 questions for JNJ

Also covers: AXGN, DXCM, IART +7 more

Shagun Singh

RBC Capital Markets

3 questions for JNJ

Also covers: DXCM, GMED, INSP +7 more

Alexandria Hammond

Wolfe Research

2 questions for JNJ

Also covers: ABBV, AMGN, BMRN +5 more

Alex Hammond

Sidoti & Company, LLC

2 questions for JNJ

Also covers: BMRN, CBUS

Danielle Antalffy

UBS

2 questions for JNJ

Also covers: ATRC, BSX

Matt Miksic

Barclays Investment Bank

2 questions for JNJ

Also covers: ABT, ATEC, BAX +11 more

Timothy Anderson

BofA Securities

2 questions for JNJ

Also covers: ABBV, AMGN, AZN +10 more

David Chen

Goldman Sachs Group, Inc.

1 question for JNJ

David Reisinger

Lyriq

1 question for JNJ

David Risinger

Leerink Partners

1 question for JNJ

Also covers: ABBV, AMGN, BMY +9 more

Joanne Wuensch

Citigroup Inc.

1 question for JNJ

Also covers: ABT, BAX, BDX +18 more

Joshua Jennings

TD Cowen

1 question for JNJ

Also covers: ABT, ALUR, ATEC +20 more

Lawrence Biegelsen

Wells Fargo

1 question for JNJ

Also covers: ABT, ALC, BAX +16 more

Louise Chen

Cantor Fitzgerald

1 question for JNJ

Also covers: ARDX, CNTB, IMAB +14 more

Matthew Miksic

Barclays PLC

1 question for JNJ

Also covers: ABT, ATEC, BAX +15 more

Shagun Singh Chadha

RBC Capital Markets

1 question for JNJ

Also covers: AXNX, DXCM, GMED +10 more
Program DetailsProgram 1
Approval DateSeptember 14, 2022
End Date/DurationFiscal first quarter of 2023
Total additional amount$5.0 billion
Remaining authorizationN/A
DetailsPurpose was to make shares available for general corporate purposes. Repurchases were made at management's discretion on the open market or through privately negotiated transactions.
YearAmount Due (Millions)Debt TypeInterest Rate (%)% of Total Debt
20242,000 Commercial Paper5.10 5.6% = (2,000 / 35,751) * 100
2024N/A5.50% Notes5.50 N/A
20261,998 2.46% Notes2.46 5.6% = (1,998 / 35,751) * 100
2027943 2.95% Notes2.95 2.6% = (943 / 35,751) * 100
20271,463 0.95% Notes0.95 4.1% = (1,463 / 35,751) * 100
20281,497 2.90% Notes2.90 4.2% = (1,497 / 35,751) * 100
2028832 1.150% Notes1.150 2.3% = (832 / 35,751) * 100
20291,146 4.80% Notes4.80 3.2% = (1,146 / 35,751) * 100
2029298 6.95% Notes6.95 0.8% = (298 / 35,751) * 100
20301,671 1.30% Notes1.30 4.7% = (1,671 / 35,751) * 100
20311,146 4.90% Notes4.90 3.2% = (1,146 / 35,751) * 100
2032776 3.20% Notes3.20 2.2% = (776 / 35,751) * 100
2033499 4.95% Notes4.95 1.4% = (499 / 35,751) * 100
2033854 4.375% Notes4.375 2.4% = (854 / 35,751) * 100
2034846 4.95% Notes4.95 2.4% = (846 / 35,751) * 100
20351,660 1.650% Notes1.650 4.6% = (1,660 / 35,751) * 100
2036886 3.35% Notes3.35 2.5% = (886 / 35,751) * 100
2036902 3.587% Notes3.587 2.5% = (902 / 35,751) * 100
2037994 5.95% Notes5.95 2.8% = (994 / 35,751) * 100
20371,395 3.625% Notes3.625 3.9% = (1,395 / 35,751) * 100
2038993 3.40% Notes3.40 2.8% = (993 / 35,751) * 100
2038697 5.85% Notes5.85 2.0% = (697 / 35,751) * 100
2040541 4.50% Notes4.50 1.5% = (541 / 35,751) * 100
2040885 2.10% Notes2.10 2.5% = (885 / 35,751) * 100
2041297 4.85% Notes4.85 0.8% = (297 / 35,751) * 100
2043496 4.50% Notes4.50 1.4% = (496 / 35,751) * 100
20441,104 3.55% Notes3.55 3.1% = (1,104 / 35,751) * 100
20461,978 3.73% Notes3.73 5.5% = (1,978 / 35,751) * 100
2047868 3.75% Notes3.75 2.4% = (868 / 35,751) * 100
2048744 3.50% Notes3.50 2.1% = (744 / 35,751) * 100
2050859 2.25% Notes2.25 2.4% = (859 / 35,751) * 100
2054843 5.25% Notes5.25 2.4% = (843 / 35,751) * 100
20601,107 2.45% Notes2.45 3.1% = (1,107 / 35,751) * 100
NameStart DateEnd DateReason for Change
PricewaterhouseCoopers LLPAt least 1920 PresentCurrent auditor

Notable M&A activity and strategic investments in the past 3 years.

CompanyYearDetails

Intra-Cellular Therapies, Inc.

2025

Planned Acquisition with a total equity value of approximately $14.6 billion at $132 per share in cash, funded through cash and debt; the deal aims to bolster J&J’s neuroscience portfolio by adding CAPLYTA® with a $5B+ sales potential, subject to regulatory and shareholder approvals.

V-Wave Ltd.

2024

Completed Acquisition on October 8, 2024, involving an upfront payment of $0.6 billion plus up to $1.1 billion in milestones as an asset acquisition recorded with an IPR&D charge, enhancing treatment options for heart failure.

Yellow Jersey Therapeutics

2024

Completed Acquisition on July 11, 2024, executed as an all-cash transaction valued at approximately $1.25 billion to secure global rights to NM26—a novel bispecific antibody for atopic dermatitis—with the transaction recorded as an IPR&D asset in the Innovative Medicine segment.

Proteologix, Inc.

2024

Completed Acquisition on June 20, 2024, valued at about $0.8 billion (net of cash) with potential additional milestone payments; the deal, accounted for as a business combination, reinforces J&J’s capabilities in bispecific antibodies for immune-mediated diseases with detailed fair value allocations and assumed liabilities.

Shockwave Medical, Inc.

2024

Completed Acquisition on May 31, 2024, for an enterprise value of approximately $13.1 billion (at $335 per share in cash), aimed at integrating IVL technology to treat calcified CAD/PAD, funded by cash and debt, with expected revenue growth and a modest EPS dilution initially.

Ambrx Biopharma, Inc.

2024

Completed Acquisition on March 7, 2024, via an all-cash merger valued at roughly $2.0 billion (or $1.8B net of cash) to enhance J&J’s ADC technology for cancer treatment; the deal included significant intangible assets and IPR&D, with a structured fair value allocation.

Laminar, Inc.

2023

Completed Acquisition involving an upfront payment of $400 million plus potential milestone payments, strategically fitted into J&J’s MedTech portfolio by providing innovative rotational technology to eliminate the LAA in AFib patients, thereby strengthening its electrophysiology offerings.

Abiomed, Inc.

2022

Completed Acquisition on December 22, 2022, for an enterprise value of approximately $16.6 billion at $380 per share in cash (with additional contingent value rights), which adds world-leading heart recovery solutions to J&J’s MedTech portfolio and positions Abiomed as a standalone business within the segment.

Recent press releases and 8-K filings for JNJ.

Johnson & Johnson hit with $20 million verdict in talc lawsuit
·$JNJ
Legal Proceedings
  • A jury awarded $20 million to the Casaretto family, finding J&J’s talc-based products caused fatal mesothelioma.
  • Plaintiffs alleged Johnson & Johnson failed to warn consumers about asbestos contamination in its talc.
  • Internal documents and expert testimony showed the company knew of asbestos risk yet used testing protocols unlikely to detect it.
  • The verdict reinforces accountability for long-term health impacts of decades-old consumer products.
less than a minute ago
Johnson & Johnson highlights US anxiety and depression treatment market trends
·$JNJ
Product Launch
  • US market projected to grow from US$ 6.17 billion in 2024 to US$ 9.59 billion by 2033 at a 5.02% CAGR
  • Major depression affects 8.3% and anxiety disorders 19.1% of US adults annually, driving demand for diverse therapies
  • Rising awareness and reduced stigma are boosting early diagnosis and treatment uptake through public campaigns and telemedicine expansion
  • Evolution from SSRIs/SNRIs to emerging psychedelic-assisted and ketamine-based therapies for treatment-resistant cases
  • SPRAVATO (esketamine) received FDA clearance in January 2025 as the first monotherapy for treatment-resistant depression, demonstrating rapid efficacy
1 day ago
Johnson & Johnson: Joint Reconstruction Device Market to Reach $149.84 B by 2032
·$JNJ
  • Market size expanded from USD 27.75 B in 2024 to USD 34.15 B in 2025 and is projected to reach USD 149.84 B by 2032 at a 23.46% CAGR.
  • Growth driven by advancements in medical technology, demographic shifts, and rising musculoskeletal disorder prevalence.
  • Technological innovations include 3D printing, robotic-assisted techniques, biologically active scaffolds, and advanced biomaterials (PEEK, titanium).
  • Market segmented by applications (hip, knee, shoulder, spine), product types, materials, end users, and geographies across Americas, EMEA, and Asia-Pacific.
  • Regional dynamics: North America leads value-based reimbursement, Western Europe emphasizes regulatory harmonization, and Asia-Pacific prioritizes scalable, cost-efficient technology deployment.
1 day ago
Johnson & Johnson reports Week 28 Phase 2b ANTHEM-UC results of icotrokinra
·$JNJ
New Projects/Investments
  • At Week 28, icotrokinra 400 mg once daily achieved 31.7% clinical remission vs 9.5% placebo, 38.1% endoscopic improvement vs 11.1% placebo, and 66.7% clinical response vs 25.4% placebo.
  • All doses (100 mg, 200 mg, 400 mg) showed higher rates of clinical response, remission, endoscopic improvement and HEMI versus placebo, building on Week 12 superiority data.
  • Safety profile remained favorable, with similar rates of adverse and serious adverse events across icotrokinra and placebo groups through Week 28.
  • Results support initiation of Phase 3 ICONIC-UC in adults and adolescents with moderately to severely active UC and ICONIC-CD Phase 2b/3 in Crohn’s disease.
1 day ago
Johnson & Johnson announces durable two-year remission data for TREMFYA in Crohn's disease
·$JNJ
  • J&J presented 96-week data from Phase 3 GRAVITI and GALAXI LTE studies showing clinical remission rates above 85% for both 100 mg q8w and 200 mg q4w maintenance regimens in adults with moderately to severely active Crohn's disease.
  • Endoscopic remission was observed in up to 56.6% of participants, and deep remission (clinical + endoscopic) in up to 51.2%, indicating sustained mucosal healing at two years.
  • Safety outcomes through 96 weeks were consistent with the known TREMFYA profile, with no new safety concerns identified.
  • TREMFYA remains the only IL-23 inhibitor approved to deliver durable clinical and endoscopic remission via a fully subcutaneous regimen in Crohn's disease.
1 day ago
Johnson & Johnson presents positive Phase 2 DAHLIAS results for nipocalimab in Sjögren’s disease
·$JNJ
New Projects/Investments
  • Nipocalimab met its primary endpoint, showing a statistically significant improvement in ClinESSDAI score at Week 24 versus placebo in the Phase 2 DAHLIAS study.
  • Key symptoms of dryness, pain and fatigue trended toward greater improvement versus placebo, and ≥50% increase in salivary flow was observed in 33% of patients on high-dose nipocalimab compared to 16% on placebo at Week 24.
  • No new safety signals emerged over the 24-week treatment period, with preserved immune function and no rise in serious infections or need for rescue therapy.
  • Nipocalimab holds FDA Breakthrough Therapy Designation (Nov 2024) and Fast Track Designation (Apr 2025) for SjD, and the Phase 3 DAFFODIL trial is now enrolling patients.
4 days ago
Johnson & Johnson reports Phase 3 52-week ICONIC-TOTAL data for icotrokinra
·$JNJ
  • In the Phase 3 ICONIC-TOTAL study, 72% of patients with scalp psoriasis and 85% with genital psoriasis achieved site-specific clear or almost clear skin at Week 52; hand/foot clearance rose from 42% at Week 16 to 62% at Week 52.
  • Overall skin clearance (IGA 0/1) was 67% at Week 52, with 44% of patients achieving completely clear skin (IGA 0).
  • Safety profile remained favorable: adverse event and serious adverse event rates through Week 52 were similar to those through Week 16, with no new safety signals identified.
  • Icotrokinra is a once-daily, first-in-class oral peptide targeting the IL-23 receptor, currently being evaluated across the pivotal Phase 3 ICONIC program in plaque psoriasis and other IL-23-mediated diseases.
5 days ago
Johnson & Johnson reports 45% response rate for subcutaneous amivantamab in recurrent or metastatic head and neck cancer
·$JNJ
  • In the Phase 1b/2 OrigAMI-4 study, subcutaneous amivantamab monotherapy achieved a 45% overall response rate (95% CI, 29–62) in 38 efficacy-evaluable patients with HPV-unrelated R/M HNSCC after progression on checkpoint inhibitors and platinum chemotherapy.
  • Responses were rapid (median time to first response 6.4 weeks) and durable (median duration of response 7.2 months, 95% CI 5.3–NE).
  • After a median follow-up of 8.3 months, 82% of patients exhibited tumor shrinkage, with a median progression-free survival of 6.8 months (95% CI 4.2–9.0).
  • Safety was consistent with prior studies: the most common treatment-emergent adverse events were fatigue (31%), hypoalbuminemia (31%) and stomatitis (23%), with only 2% of patients discontinuing due to treatment-related events.
Oct 19, 2025, 2:30 PM
Johnson & Johnson reports positive Phase 3 MajesTEC-3 results
·$JNJ
  • The Phase 3 MajesTEC-3 trial of TECVAYLI plus DARZALEX FASPRO in relapsed/refractory multiple myeloma (1–3 prior lines) met its primary endpoint of progression-free survival versus DPd or DVd, with nearly three years of follow-up showing statistical significance.
  • The combination also demonstrated a statistically significant overall survival benefit at the first interim analysis, leading the IDMC to recommend unblinding the study.
  • The safety profile of TECVAYLI plus DARZALEX FASPRO was consistent with the known profiles of each agent when given as monotherapy.
Oct 16, 2025, 12:00 PM
J&J faces 3,000 talc claims in London High Court
·$JNJ
Legal Proceedings
  • 3,000+ claimants allege J&J’s talc-based Baby Powder caused ovarian cancer, mesothelioma or other diseases after use between 1965 and 2023 in a High Court claim in London.
  • Lawyers assert internal memos and mine data show talc contained fibrous asbestos minerals and that the companies suppressed warnings and lobbied regulators; J&J stopped selling talc-based powder in the U.S. in 2020 and in the U.K. in 2023, and denies the allegations.
  • The judge-led action could become the largest product-liability claim in British history with estimated damages around £1 billion, echoing U.S. litigation that produced multi-billion-dollar awards.
  • Kenvue, J&J’s former consumer health unit spun off in 2023, retains liability for talc litigation outside the U.S. and Canada, while J&J’s U.S. bankruptcy strategy for these claims has been rejected three times.
Oct 16, 2025, 1:41 AM