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Company Profile: Johnson and Johnson REMEMBER to ANSWER these questions (This is a very important part of the interview – to know why you are interested): List 2-3 reason why you are interested in this industry? List 2-3 reasons why you are interested in Johnson and Johnson Corporation? List 2-3 reasons why you are interested in this position? 1. Company general info. It's nearly impossible to get well without Johnson & Johnson (J&J). The diversified health care giant operates in three segments through more than 250 operating companies. Its pharmaceuticals unit makes drugs -- including best-selling schizophrenia medication Risperdal -- for an array of ailments, such as neurological conditions, blood disorders, autoimmune diseases, and chronic pain. J&J's medical devices and diagnostics division offers surgical equipment, monitoring devices, orthopedic products, and disposable contact lenses, among other things. Its consumer products segment makes over-the-counter drugs and products for skin and hair care, baby care, oral care, first aid, and women's health. Within its pharmaceuticals division, sales for blockbuster drug Risperdal are up, accounting for 8% of J&J's total sales and close to 20% of its pharmaceutical sales. Other drugs experiencing strong growth are Crohn's disease treatment Remicade (which the FDA approved for treatment of psoriasis in 2006); epilepsy drug Topamax; and attention deficit disorder drug CONCERTA. Looming generic competition may hurt CONCERTA's sales, however, as it has the contraceptives business of subsidiary Ortho-McNeil. In 2006 J&J purchased the consumer healthcare unit of Pfizer, adding about 40 brands to J&J's offerings. The company plans to combine its own consumer brands (including Tylenol pain reliever, Neutrogena skin products, and Johnson's baby shampoo) with Pfizer's lineup (Listerine, Sudafed, Rolaids antacid, Benadryl allergy medicine, Rogaine baldness treatment, Zantac antacid, Bengay analgesic, and Lubriderm skin lotion). In order to clear some FTC hurdles, the companies agreed to sell US marketing rights for Zantac to Boehringer Ingelheim Pharmaceuticals for a little more than $500 million. J&J has also sold five brands (Act mouthwash, Unisom sleep aid, Cortizone anti- itch treatment, Kaopectate anti-diarrhea medication, and Balmex for diaper rash) to Chattem. In 2006 J&J aggressively pushed to add cardiac defibrillator maker Guidant to its medical device portfolio, but was thwarted at every turn by counter-bids from niche rival Boston Scientific. Boston Scientific emerged victorious from that battle, paying some $27 billion for Guidant. The company had better luck on the acquisition market in 2007, acquiring drug-coated stent maker Conor Medsystems. The acquired company will become part of J&J's Cordis cardiac device business. 2. Financials Company Type Public Chairman and CEO William C. (Bill) Weldon 2006 Sales (mil.) $53,324.0 Vice Chairman Christine A. Poon 1-Year Sales Growth 5.6% CFO Dominic J. Caruso 2006 Net Income (mil.) $11,053.0 VP, Science & Technology Theodore J. Torphy 1-Year Net Income Growth 6.2% Chief Science & Tech Officer Harlan Weisman Employees 122,200 2006 Sales $ mil. % of total Pharmaceuticals 23,267 44 Medical devices & diagnostics 20,283 38 Consumer products 9,774 18 Total 53,324 100 3. Products Pharmaceuticals Concerta (ADHD), Consta (schizophrenia), Duragesic (pain management; Durogesic outside the US), Floxin (anti-infective), Levaquin (anti-infective), Natrecor (congestive heart failure), Ortho Evra (patch contraceptive), Ortho Tri-cyclen (oral contraceptive), Procrit (anemia, Eprex outside the US), Remicade (rheumatoid arthritis and Crohn's disease), Risperdal (antipsychotic), Topamax (epilepsy)… o Medical Sources: Company website, Businessweek.com, Hoovers.com, other Internet news resources. Diagnostic cardiology products, Diagnostic equipment and supplies, Disposable contact lenses, Infection prevention products, Interventional cardiology products, Joint replacements, Mechanical wound closure products, Surgical equipment and devices, Sutures, Wound management products o Consumer Acuvue contact lenses, Aveeno skin care products, Band-Aid bandages, Benecol food products, Carefree feminine hygiene products, Clean & Clear skin care products, Imodium A-D anitdiarrheal, Johnson's baby care products, Lactaid nutritional products, Listerine mouthwash, Monistat vaginal yeast infection treatment, Motrin IB analgesic, Mylanta gastrointestinal aid, Neutrogena skin and hair care products, Pepcid AC gastrointestinal aid, Reach toothbrushes, RoC skin care products, Splenda non-caloric sugar substitute, Stayfree feminine hygiene products, Sudafed cold, flu, and allergy medications, Tylenol acetaminophen, Viactiv calcium supplements 2. In the news November 15, 2007 - Johnson & Johnson Announces Changes To Accelerate Growth - Three New Units to Focus on Convergence and New Opportunities Johnson & Johnson today announced a series of organizational changes to sharpen its focus on opportunities outside its traditional areas of interest and in the growing intersections of health care. These include the creation of a new strategy and growth organization and two new business operating groups. The changes are designed to accelerate growth for Johnson & Johnson by building on the unique strengths afforded by the Company's broad base of businesses and decentralized structure. A new Office of Strategy and Growth will identify opportunities for future growth that are distinct from those being pursued by the Company's existing businesses; a Surgical Care Group will focus on advancing technologies, solutions and services to enhance patient care in the surgical setting; and a Comprehensive Care Group will create portfolios to address some of the world’s most chronic and pervasive conditions, such as metabolic disorders, through the convergence of technologies, products and services. "These decisions recognize that a new environment is emerging in human health and well-being," said William C. Weldon, Chairman and Chief Executive Officer of Johnson & Johnson. "They reflect our assessment of the best way for us to capture and develop the opportunities associated with those changes and they capitalize on the unique, broadly-based, decentralized approach of Johnson & Johnson." June 7, 2007 - Johnson & Johnson Highlights Growth Strategies for Pharmaceutical and Consumer Businesses - 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 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. 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. "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." Creating the World's Premier Consumer Health Care Company In 2006, Johnson & Johnson's Consumer segment, including the recently acquired Pfizer Consumer Healthcare (PCH) 1 business, generated $13.6 billion dollars in sales on a pro forma basis . 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." Sources: Company website, Businessweek.com, Hoovers.com, other Internet news resources. April 19, 2007 - Johnson & Johnson Pharmaceutical Research & Development, L.L.C., Breaks Ground On New Facility Johnson & Johnson Pharmaceutical Research & Development, L.L.C., announced today it has started construction of a new building on its Spring House, Pennsylvania, campus, that will add approximately 150,000 square feet in new laboratory, clinical development and office space to its existing facilities. The site will become Johnson & Johnson Pharmaceutical Research & Development's East Coast hub for discovery research and early clinical development upon its completion in 2009. "This expansion demonstrates our commitment to ongoing research and development as a key driver of our future success," said Joseph C. Scodari, worldwide chairman pharmaceuticals, Johnson & Johnson. "Johnson & Johnson is proud of its long heritage of pioneering research on this site. More than 15 major products were discovered or developed here, including several of our company’s major prescription medicines, such as TOPAMAX® (topiramate), ULTRAM® (tramadol HCl) and ULTRACET® (acetaminophen/tramadol hydrochloride). We intend to continue building on that tradition for many more years to come." January 25, 2006 − Johnson & Johnson acknowledged that it has been notified by Guidant Corporation that Guidant has terminated the companies' existing acquisition agreement. Johnson & Johnson said that it had determined not to increase its last offer for Guidant Corporation, because to do so would not have been in the best interest of its shareholders. Guidant Corporation is required to pay Johnson & Johnson a fee of $705 million on or before January 26 as per the merger agreement. January 19, 2006 – DePuy Orthopaedics, Inc., today announced the acquisition of Hand Innovations LLC, a privately held manufacturer of widely used fracture fixation products for the upper extremities. The acquisition provides DePuy Orthopaedics, Inc., with leading technology in the plating business, the fastest growing and most under penetrated segment of the worldwide extremities market. Terms of the acquisition are not being disclosed. 3. 2007 Awards and Recognition The Healthcare Businesswomen's Association (HBA): The Women's Leadership Initiative at Johnson & Johnson the first winner of the HBA award to recognize the "Advancement, Commitment and Engagement" (ACE) of women's careers in the health care industry, the core mission of the HBA. Spark! Award: The new packaging and advertising campaign for the REMBRANDT® line of oral health and beauty products was recognized with the 2007 Spark! Award. DiversityInc Magazine: Johnson & Johnson has earned a spot on the "2007 DiversityInc Top 50 Companies for Diversity®" list, ranking 17th overall. th FORTUNE Magazine: 36 on the Fortune 500 ranking of America’s largest corporations. 4. Top Competitors Merck Novartis Procter & Gamble Sources: Company website, Businessweek.com, Hoovers.com, other Internet news resources.
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