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Financial Report: Johnson & Johnson 1Q

April 16, 2014

Revenues up 3% in the quarter

Johnson & Johnson

1Q Revenues: $18.1 billion (+4%)

1Q Earnings: $4.7 billion (+35%)

Comments: Worldwide pharmaceutical sales were $7.5 billion, up 11%, driven by STELARA, INVEGA, SUSTENNA/XEPLION, PREZISTA, and VELCADE, as well as new products OLYSIO/SOVRIAD, a combination treatment of chronic hepatitis C, and ZYTIGA for the treatment of prostate cancer. Results were negatively impacted by loss of exclusivity for ACIPHEX and CONCERTA. In the quarter, the FDA approved IMBRUVICA capsules for the treatment of chronic lymphocytic leukemia, and the European Commission granted conditional approval for SIRTURO as part of a combination regimen for pulmonary multi-drug resistant tuberculosis. R&D expenses were $1.8 billion, up 3%.

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