Q4 2024 Johnson & Johnson Earnings Call Transcript

Jan 22, 2025 / 01:30PM GMT

Release Date Price: $145.27 (-1.94%)

Transcript 8-K

Key Points

Positve

Johnson & Johnson (JNJ) reported robust operational sales growth of 7% for the full year 2024, excluding the COVID-19 vaccine.
The company achieved strong growth in oncology, neuroscience, and pulmonary hypertension, with 10 key brands growing double digits.
Johnson & Johnson (JNJ) made significant investments in R&D and M&A, totaling approximately $50 billion, including the acquisition of Intra-Cellular Therapies.
The MedTech segment reported a second consecutive year of over $30 billion in sales, with strong momentum in cardiovascular and vision.
Johnson & Johnson (JNJ) achieved 27 approvals in major markets in 2024, including FDA approvals for TREMFYA and RYBREVANT LAZCLUZE.

Negative

The loss of exclusivity for STELARA negatively impacted worldwide growth by 260 basis points.
Net earnings for the fourth quarter of 2024 decreased by 11.1% compared to the same period in 2023.
The MedTech margin declined from 15.5% to 10.8%, primarily due to acquired IPR&D expenses related to the V-Wave acquisition.
Johnson & Johnson (JNJ) faces headwinds from US biosimilar entries for STELARA and macroeconomic pressures in China.
The company anticipates a dilutive impact on adjusted EPS of approximately $0.30 to $0.35 in 2025 due to the planned acquisition of Intra-Cellular Therapies.

Operator

Good morning, and welcome to Johnson & Johnson's fourth-quarter 2024 earnings conference call. (Operator Instructions) This call is being recorded. (Operator Instructions)

I'd now like to turn the conference call over to Johnson & Johnson. You may begin.

Jessica Moore

Johnson & Johnson - Vice President - Investor Relations

Hello, everyone. This is Jessica Moore, Vice President of Investor Relations for Johnson & Johnson. Welcome to our company's review of business results for the fourth quarter and full year 2024 and our financial outlook for 2025.

A few logistics before we get into the details. As a reminder, you can find additional materials, including today's presentation and associated schedules, on the Investor Relations section of the Johnson & Johnson website at investor.jnj.com.

Please note that this presentation contains forward-looking statements regarding, among other things, the company's future operating and financial performance, market position and business strategy. You are cautioned not to rely

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