Expects to File for Five More New Pharmaceutical Compounds by End of 2007;
Anticipates Another 7 to 10 New Compound Filings by End of 2010
With PCH Integration On Track, World's Premier Consumer Health Care
Business Plans to Build on Iconic Brands Through Superior Science and
Innovation
NEW BRUNSWICK, N.J., June 7 /PRNewswire-FirstCall/ -- Johnson & Johnson
highlighted its Pharmaceutical and Consumer businesses at a meeting with
financial analysts today, describing its broadly based health care business
as strong and poised for continued growth in the coming years. Senior
leaders from the company outlined the current pharmaceutical and consumer
business portfolios and growth strategies that will enable the company to
capitalize on growing demand in the area of human health and well-being.
Johnson & Johnson's Vice Chairman Christine Poon underscored how the
company believes it is uniquely positioned with its breadth of businesses
and flexible operating model to outperform its competitors in a $4 trillion
global market for health solutions. "Being broadly based is a cornerstone
of our success and will amplify our growth going forward," Poon said in her
opening remarks.
Poon discussed several early-stage ventures that illustrate how the
company cultivates innovation across its broad base of businesses. The
ventures are based on collaborative work that capitalizes on capabilities
and resources across the company's three businesses - Consumer,
Pharmaceuticals, and Medical Devices and Diagnostics.
Poon described projects related to: a treatment for retinitis
pigmentosa, which is a hereditary condition leading to blindness; a
treatment for uncontrolled bleeding, which is the world's leading cause of
death due to injury; a therapy to fight cancer cells using a patient's own
strengthened immune cells; and a technology for "smart" consumer products
that uses tiny molecules to adhere substances onto the body and allow them
to be pulled off quickly and easily.
"We have the people, proprietary technology and capabilities of many
diverse, entrepreneurial companies," said Poon. "This enables us to
innovate at the intersections of our businesses. That's an important
competitive advantage and why we're truly more than the sum of our many
vibrant businesses."
Pharmaceuticals - Most Robust Pipeline in its History
Johnson & Johnson's Pharmaceutical segment generated $23.2 billion in
revenues last year, which would make it the fifth largest pharmaceutical
business and third largest biotech business in the world if it were a
stand- alone company, according to IMS Health. The company said that it
continues to see a great deal of growth potential for its pharmaceutical
business in the coming years as it looks to address a nearly $650 billion
global market opportunity. "The lion's share of future industry growth will
go to those companies with the size, scale and know-how to take advantage
of the rapidly changing dynamics of this marketplace - both scientific and
economic," said Joe Scodari, Worldwide Chairman of the Pharmaceutical
segment for Johnson & Johnson. "We believe we are one of those companies."
Scodari continued, "We invested approximately $5 billion in R&D in
2006. More important than the level of investment, of course, is the level
of productivity that this investment generates, and we believe our pipeline
is more robust today than at any point in our history."
The company said that it had received regulatory approvals for four new
products in 2006 (INVEGA(TM), IONSYS(TM), JURNISTA(TM), PREZISTA(TM)) and
filed applications for approval of two new compounds in recent months
(doripenem in December 2006 and ceftobiprole in May 2007). The company
indicated that it was on schedule to file regulatory applications for five
more new compounds by the end of 2007 and an additional 7 to 10 new
compounds between 2008 and 2010.
The company also said it would continue focusing its research and
development on eight therapeutic areas: central nervous system disorders;
infectious diseases; cardiovascular diseases, hematology/oncology;
immunology; metabolics; pain; and reproductive health. "Our pipeline
encompasses a broad range of therapeutic areas, giving us the opportunity
to participate in a variety of large and growing markets," said Scodari.
"Just as importantly, we're able to 'see the whole field' and take the
knowledge, technology, talent and capabilities we have in one therapeutic
area and leverage it across the others."
Creating the World's Premier Consumer Health Care Company
In 2006, Johnson & Johnson's Consumer segment, including the recently
acquired Pfizer Consumer Healthcare (PCH) business, generated $13.6 billion
dollars in sales on a pro forma basis(1). Its collection of some of the
world's leading brands are spread across six consumer franchises -- OTC
Medicines and Nutritionals; Skin Care; Baby Care; Oral Care; Women's Health
and Wound Care - and compete in a $315 billion global consumer products
market.
"Each of our franchises has an extraordinary lineup of brands, known
and trusted by millions of consumers around the world," said Colleen
Goggins, Worldwide Chairman of the Johnson & Johnson Consumer segment.
"Looking ahead, we will continue to drive growth by building on our
iconic brands through superior science, consumer insight and excellence in
professional and consumer marketing," said Goggins. "We will grow through
further expansion in developing markets, through new technologies, and we
continue to look for selected acquisitions that offer new avenues for
growth."
In speaking of the PCH acquisition, Goggins noted that Johnson &
Johnson still expects that its integration will deliver $500 million to
$600 million in synergies by 2009. "This gives us the opportunity to make
an already profitable business even more profitable," Goggins said. "We now
consider ourselves the world's premier consumer health care business. We
believe we will deliver strong performance into the future with revenue
growth significantly outpacing the market and income growing faster than
revenue."
Brief summaries of the pharmaceutical and consumer business
presentations made today can be accessed at
http://www.jnj.com/news/jnj_news/analyst_highlights.htm. Full copies of the
presentations as well as a replay and podcast will be available
approximately two hours after the live webcast concludes at
http://www.investor.jnj.com. For free broadcast-standard video related to this
release, the media may log onto http://www.thenewsmarket.com/jnj. Registration and
video is free to the media.
Johnson & Johnson is the world's most comprehensive and broadly based
manufacturer of health care products, as well as a provider of related
services, for the consumer, pharmaceutical, and medical devices and
diagnostics markets. The more than 250 Johnson & Johnson operating
companies employ approximately 121,000 men and women in 57 countries and
sell products throughout the world.
(1) Sales calculated on a pro forma basis to include the PCH business
is a non-GAAP financial measure and should not be considered a replacement
for GAAP results. A reconciliation of this non-GAAP financial measure to
the most
directly comparable GAAP financial measure can be found in the Investor
Relations section of the Company's website at http://www.jnj.com.
(This press release contains "forward-looking statements" as defined in
the Private Securities Litigation Reform Act of 1995. These statements are
based on current expectations of future events. If underlying assumptions
prove inaccurate or unknown risks or uncertainties materialize, actual
results could vary materially from Johnson & Johnson's expectations and
projections. Risks and uncertainties include general industry conditions
and competition; economic conditions, such as interest rate and currency
exchange rate fluctuations; technological advances and patents attained by
competitors; challenges inherent in new product development, including
obtaining regulatory approvals; domestic and foreign health care reforms
and governmental laws and regulations; and trends toward health care cost
containment. A further list and description of these risks, uncertainties
and other factors can be found in Exhibit 99 of the Company's Annual Report
on Form 10-K for the fiscal year ended December 31, 2006. Copies of this
Form 10-K, as well as subsequent filings, are available online at
http://www.sec.gov or on request from Johnson & Johnson. Johnson & Johnson does
not undertake to update any forward-looking statements as a result of new
information or future events or developments.)
SOURCE Johnson & Johnson
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