JOHNSON & JOHNSON (JNJ) Company Report

A Philadelphia jury found J&J’s talc-based baby powder directly responsible for the 2019 death of Gayle Emerson, awarding a $250,000 verdict ($50,000 compensatory; $200,000 punitive).
Testimony showed Emerson used the product for over 45 years and was diagnosed with ovarian cancer in 2015 at age 64.
This case is the first of several bellwether trials slated for 2026, amid more than 70,000 consolidated lawsuits in New Jersey federal court, with the MDL’s initial bellwether set for later this year.
J&J ceased North American sales of talc-based powders in 2020 and expanded the global ban in 2023.

3 days ago

Press Release

Johnson & Johnson found liable in talc lawsuit

JNJ

Legal Proceedings

A Philadelphia jury awarded $250,000 to the estate of Gayle Emerson—$50,000 in compensatory and $200,000 in punitive damages—after finding J&J’s talc-based baby powder caused her ovarian cancer.
Emerson reported using the product for roughly 45 years (1969–2017) before her 2019 death, and J&J plans to appeal the verdict, maintaining its talc products are safe.
The case is among 67,000–70,000 talc claims consolidated in a New Jersey multidistrict litigation, with the first bellwether trial due later in 2026.
In Q4 2025, J&J recorded over $2 billion in trial losses on mesothelioma claims; the company reported $94.2 billion in 2025 revenues and expects to exceed $100 billion by end of 2026.

3 days ago

Morningstar

Johnson & Johnson gains FDA approval for quadruplet D-VRd regimen in transplant-ineligible multiple myeloma

JNJ

Product Launch

The FDA approved DARZALEX FASPRO® in combination with bortezomib, lenalidomide and dexamethasone (D-VRd) for newly diagnosed multiple myeloma patients ineligible for autologous stem cell transplant, marking its 12th indication and fifth in the newly diagnosed setting.
In the Phase 3 CEPHEUS trial, D-VRd nearly doubled sustained MRD-negativity at 39 months (42.6% vs 25.3%; P<0.0003) and reduced the risk of progression or death by 40% (HR 0.60; 95% CI 0.41–0.88; P<0.0078) versus VRd.
At a median follow-up of 59 months, D-VRd achieved complete response or better rates of 81.2% versus 61.6% with VRd, with safety consistent with known profiles.

Jan 27, 2026, 8:49 PM

Press Release

Johnson & Johnson reports Q4 2025 results

JNJ

Earnings

Guidance Update

M&A

Mixed Q4 & FY 2025 results: Q4 worldwide sales of $24.6 billion (+7.1% op), Q4 net earnings of $5.1 billion, diluted EPS $2.10, and full-year sales of $94.2 billion (+5.3% op), net earnings $26.8 billion, EPS $11.03 (incl. $7 b talc reversal)
2026 guidance: operational sales growth of 5.7%–6.7% (midpoint 6.2%, ~$100 billion), reported sales growth of 6.2%–7.2% (midpoint ~$100.5 billion), and adjusted EPS of $11.28–$11.48 (midpoint +5.5%)
Business momentum: Innovative Medicine delivered >$60 billion in 2025 sales (+5.3% op), with oncology +21% (Darzalex +22%, $14 b), Tremfya Q4 op growth +75% (global >$5 b), and neuroscience +10%; MedTech sales ~$34 billion (+5.4% op), cardiovascular +15% (Abiomed +18%, Shockwave +23% Q4), plus new robotics and vision launches
Capital & legal update: 2025 free cash flow of $19.7 billion, net debt ~$28 billion (cash $20 b, debt $48 b), R&D & M&A investments >$32 billion (Intra-Cellular, HALDA, Shockwave), and appeal of talc MDL Daubert ruling

Jan 21, 2026, 1:30 PM

Transcript

Johnson & Johnson reports Q4 2025 results

JNJ

Earnings

Guidance Update

Q4 2025 revenue was $24.6 billion, up 7.1% operationally (U.S. +7.5%, ex-U.S. +6.6%), overcoming a ~650 bp headwind from Stelara biosimilar erosion.
Q4 diluted EPS was $2.10 vs $1.41 in Q4 2024; adjusted EPS rose 20.6% to $2.46, reflecting IPR&D charges and acquisition-related dilution.
Q4 segment sales: Innovative Medicine was $15.8 billion (+7.9%) and MedTech was $8.8 billion (+5.8%), with Oncology (Darzalex +24.1%, Carvykti +63.2%) and Cardiovascular (Abiomed +18.3%, Shockwave +22.9%) leading growth.
The company generated $19.7 billion of free cash flow in 2025, finished with net debt of ~$28 billion, and expects ~$21 billion FCF in 2026.
2026 guidance calls for operational sales growth of 5.7–6.7% (midpoint 6.2% to ~$100 billion), with reported growth of 6.2–7.2%, aided by a 53rd week and ~30 bp from acquisitions/divestitures.

Jan 21, 2026, 1:30 PM

Transcript

Johnson & Johnson reports Q4 2025 results

JNJ

Earnings

Guidance Update

M&A

Full-year 2025 operational sales grew 5.3%, net earnings were $26.8 B, and adjusted EPS was $10.79, up 8.1% year-over-year.
Q4 2025 sales: Innovative Medicine $15.8 B (+7.9% with oncology +21%), MedTech $8.8 B (+5.8% led by cardiovascular +6.5% and surgical vision +10.8%).
Generated $19.7 B free cash flow; ended 2025 with $20 B cash, $48 B debt (net debt ~$28 B); mid-2027 orthopedics separation on track.
2026 guidance: operational sales growth 5.7–6.7% (reported 6.2–7.2%), adjusted EPS $11.28–$11.48, and at least 50 bps of pre-tax margin expansion.

Jan 21, 2026, 1:30 PM

Transcript

Johnson & Johnson reports Q4 2025 results

JNJ

Earnings

Guidance Update

Q4 2025 revenue of $24.6 B (up 9.1% reported, 7.1% operational); GAAP EPS $2.10 vs $1.41 a year ago; Adjusted EPS $2.46 vs $2.04
Full-year 2025 sales of $94.2 B (+6.0% reported, +5.3% operational); GAAP EPS $11.03 vs $5.79; Adjusted EPS $10.79 (+8.1%)
Innovative Medicine segment grew 7.9% operationally in Q4, led by Oncology (21.9%) and Neuroscience (17.9%)
2026 guidance calls for 6.2% operational sales growth (midpoint of $100 B) and $11.38 adjusted EPS (+5.5%)

Jan 21, 2026, 1:30 PM

Presentation

Johnson & Johnson reports Q4 and Full-Year 2025 results

JNJ

Earnings

Guidance Update

Product Launch

Q4 2025 reported sales of $24.6 B (+9.1%) with GAAP EPS of $2.10 and adjusted EPS of $2.46.
Full-Year 2025 sales of $94.2 B (+6.0%) with GAAP EPS of $11.03 and adjusted EPS of $10.79.
2026 guidance announced: estimated reported sales of $100.5 B (+6.7%) and adjusted EPS of $11.53 (+6.9%) at the midpoint.
Key innovations include FDA approvals of CAPLYTA for major depressive disorder and RYBREVANT FASPRO + LAZCLUZE for non-small cell lung cancer, plus submission of the OTTAVA Robotic Surgical System.

Jan 21, 2026, 12:46 PM

8-K

Johnson & Johnson reports Q4 and full-year 2025 results

JNJ

Earnings

Guidance Update

M&A

Q4 2025 sales rose 9.1% to $24.6 B, with diluted EPS of $2.10 and adjusted EPS of $2.46, both including a $(0.10) acquisition impact.
Full-year 2025 sales grew 6.0% to $94.2 B, with diluted EPS of $11.03 and adjusted EPS of $10.79, reflecting the same $(0.10) Halda Therapeutics headwind.
2026 guidance forecasts reported sales of $100.5 B (≈6.7% growth midpoint) and adjusted EPS of $11.53 (≈6.9% midpoint growth).
Key innovations include approvals of CAPLYTA, RYBREVANT FASPRO + LAZCLUZE, landmark TECVAYLI + DARZALEX FASPRO data, the acquisition of Halda Therapeutics, and submission of the OTTAVA Robotic Surgical System.

Jan 21, 2026, 11:20 AM

Press Release

Mauna Kea Technologies reports Q4 2025 sales surge

JNJ

Earnings

Revenue Acceleration/Inflection

Q4 revenue rose 19% reported (to €2,411K) and 29% at CER, driven by strong U.S. performance.
U.S. sales accounted for 77% of Q4 revenue, up 65% reported (82% CER); system placements jumped 324% CER with 4 new systems sold versus 1 in Q4 2024.
EMEA & ROW revenue declined 39% due to a €327K one-off from the prior year’s J&J program; core system and probe sales grew 23% and 68%, respectively.
FY 2025 total revenue reached €7,991K, up 5% reported (9% CER).