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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 .
- 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 .
- 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 .
| Name | Position | External Roles | Short Bio | Start Date |
|---|---|---|---|---|
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. | 1989 |
Elizabeth Forminard Executive | EVP, General Counsel | None. | Joined JNJ in 2006; leads legal, privacy, and ESG strategies. | 2006 |
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. | 1996 |
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. | 2005 |
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. | 2023 |
Joseph J. Wolk Executive | EVP, Chief Financial Officer | None. | Joined JNJ in 1998; became CFO in 2018. Leads global financial strategy and operations. | 1998 |
Kathryn E. Wengel Executive | EVP, Chief Technical Operations & Risk Officer | None. | Joined JNJ in 1988; oversees technical operations, supply chain, and risk management. | 1988 |
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. | 2005 |
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. | 1993 |
Vanessa Broadhurst Executive | EVP, Global Corporate Affairs | None. | Joined JNJ in 2005; oversees global marketing, communications, public health, and philanthropy. | 2005 |
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. | 2022 |
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. | 2023 |
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. | 2018 |
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. | 2019 |
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. | 2019 |
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. | 2015 |
Nadja Y. West Board | Independent Director | Board Member at Nucor and Tenet Healthcare; Trustee at National Recreation Foundation and Mount St. Mary’s University. | Joined JNJ Board in 2020. Former U.S. Army Surgeon General and Lieutenant General. | 2020 |
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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?
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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?
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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?
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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?
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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?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
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 developments and announcements about JNJ.
Earnings
New Earnings (Q4 2024)
·Jan 24, 2025, 12:13 AMView full earnings summary →JNJ’s Q4 shows DARZALEX surging 22% to $3.1B—its first brand to surpass $3B in a quarter—driving strong multiple myeloma growth. Despite STELARA biosimilar headwinds, management expects 150bps margin expansion. CARVYKTI approaches $1B, signaling continued franchise momentum.
8-K Filings
8-K Filing
·Feb 20, 2025, 11:13 PMFinancial ExhibitsOther EventsView full 8-K filing →Johnson & Johnson confirmed its valid corporate status and authority to issue debt securities in its latest 8‑K filing. Legal opinions affirm the execution and delivery of indentures for multiple notes, including 3.700% Notes due 2055.
Press Releases
Press Release
·Feb 12, 2025, 1:49 AMView full press release →Johnson & Johnson’s Phase 2b ANTHEM-UC study met its primary endpoint in ulcerative colitis. The highest icotrokinra dose achieved 63.5% clinical response (vs 27% placebo) and 30.2% clinical remission at Week 12, with continued improvements to Week 28.