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Johnson & Johnson (JNJ+0.98%) has submitted its Form 10-K filing for the fiscal year ended December 29, 2024.
The filing details the company's financial performance, reporting a 4.3% increase in worldwide sales to $88.8 billion. U.S. sales increased by 8.3% to $50.3 billion, while international sales decreased by 0.5% to $38.5 billion.
The Innovative Medicine segment reported sales of $57.0 billion, a 4.0% increase from the previous year. Key products such as DARZALEX and TREMFYA contributed to this growth.
The MedTech segment achieved sales of $31.9 billion, representing a 4.8% increase. The acquisition of Shockwave Medical Inc. was a significant contributor to this segment's growth.
Johnson & Johnson's net earnings from continuing operations were $14.1 billion, with a net earnings per share of $5.84 on a basic basis and $5.79 on a diluted basis.
The company reported a gross profit of $61.4 billion, with cost of products sold amounting to $27.5 billion.
Research and development expenses totaled $17.2 billion, reflecting the company's commitment to innovation and product development.
The filing also addresses various legal proceedings, including ongoing litigation related to talc products, which have been a significant focus for the company.
Johnson & Johnson continues to face challenges related to product liability claims, with a number of lawsuits pending in various jurisdictions.
The company maintains a strong liquidity position with cash and cash equivalents of $24.1 billion at the end of 2024, supported by robust operating cash flows.
Johnson & Johnson's Board of Directors declared a regular cash dividend of $1.24 per share, payable on March 4, 2025.
The filing provides detailed information on the company's business segments, financial performance, legal proceedings, and strategic initiatives for future growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Johnson & Johnson annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.