Johnson & Johnson at Morgan Stanley Global Healthcare Conference Transcript

Sep 14, 2026 / 03:30PM GMT

Transcript

Terence Flynn

Morgan Stanley - Analyst

Great. Thanks so much, everybody. Good afternoon. I'm Terence Flynn, Morgan Stanley's US biopharma analyst.

For important disclosures, please see Morgan Stanley's research disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative.

So I'm very pleased to be hosting Johnson & Johnson this afternoon. Joining us from the company, we have Joaquin Duato, the company's CEO and Chairman; and John Reed, Executive Vice President, Innovative Medicine, R&D. But thank you both so much for taking time out of your busy schedules to join us, really appreciate it.

Questions & Answers

Terence Flynn

Morgan Stanley - Analyst

Maybe we'd start, I thought high level, Joaquin. The company laid out some long-term growth targets at the December 2023 Enterprise Business Review Meeting. And so maybe you could just level set us in

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