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Johnson & Johnson Reports 2014 Second-Quarter Results:
Date:7/15/2014

sNDA's were also submitted to the FDA for once-monthly atypical long-acting antipsychotic INVEGA® SUSTENNA® (paliperidone palmitate) for approval to treat schizoaffective disorder as either monotherapy or adjunctive therapy.

A Marketing Authorization Application was submitted to the European Medicines Agency to expand the label for VELCADE® (bortezomib) to include its use, in combination with rituximab, cyclophosphamide, doxorubicin and prednisone, for the treatment of adult patients with previously untreated mantle cell lymphoma.

Worldwide Medical Devices and Diagnostics sales of $7.2 billion for the second quarter represented an increase of 0.7% versus the prior year consisting of an operational increase of 0.9% and a negative currency impact of 0.2%.  Domestic sales decreased 1.4%.  International sales increased 2.3%, which reflected an operational increase of 2.6% and a negative currency impact of 0.3%.

Primary contributors to operational growth were hip and trauma products in the Orthopaedics business, Biosense Webster's electrophysiology products in the Cardiovascular Care business, and sales of energy products in the Specialty Surgery business.

Sales results in the U.S. Diabetes Care business were negatively impacted by price declines associated with the implementation of Medicare competitive bidding in mail order and retail effective July 1, 2013.

During the quarter, the SABER™ PTA Dilatation Catheter for the treatment of patients with Peripheral Arterial Disease received FDA and EC approval.

Subsequent to the quarter, on June 30, the Company completed the divestiture of its Ortho-Clinical Diagnostics business to The Carlyle Group for approximately $4 billion, subject to customary adjustments.

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