Context:
Financial Statements:
| Column 1                                                                                                | Column 2   | Column 3       | Column 4   | Column 5          | Column 6   | Column 7   | Column 8   |
|:--------------------------------------------------------------------------------------------------------|:-----------|:---------------|:-----------|:------------------|:-----------|:-----------|:-----------|
|                                                                                                         |            |                |            |                   |            |            |            |
|                                                                                                         |            |                |            |                   |            |            |            |
|                                                                                                         |            | March 29, 2020 |            | December 29, 2019 |            |            |            |
| ASSETS                                                                                                  |            |                |            |                   |            |            |            |
| Current assets:                                                                                         |            |                |            |                   |            |            |            |
| Cash and cash equivalents                                                                               |            | $              | 15,530     |                   |            | 17,305     |            |
| Marketable securities                                                                                   |            | 2,494          |            |                   | 1,982      |            |            |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $234 (2019, $226)   |            | 14,874         |            |                   | 14,481     |            |            |
| Inventories (Note 2)                                                                                    |            | 8,868          |            |                   | 9,020      |            |            |
| Prepaid expenses and other                                                                              |            | 2,358          |            |                   | 2,392      |            |            |
| Assets held for sale (Note 10)                                                                          |            | 102            |            |                   | 94         |            |            |
| Total current assets                                                                                    |            | 44,226         |            |                   | 45,274     |            |            |
| Property, plant and equipment at cost                                                                   |            | 43,247         |            |                   | 43,332     |            |            |
| Less: accumulated depreciation                                                                          |            | (25,846        | )          |                   | (25,674    | )          |            |
| Property, plant and equipment, net                                                                      |            | 17,401         |            |                   | 17,658     |            |            |
| Intangible assets, net (Note 3)                                                                         |            | 47,338         |            |                   | 47,643     |            |            |
| Goodwill (Note 3)                                                                                       |            | 33,471         |            |                   | 33,639     |            |            |
| Deferred taxes on income (Note 5)                                                                       |            | 7,539          |            |                   | 7,819      |            |            |
| Other assets                                                                                            |            | 5,042          |            |                   | 5,695      |            |            |
| Total assets                                                                                            |            | $              | 155,017    |                   |            | 157,728    |            |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                    |            |                |            |                   |            |            |            |
| Current liabilities:                                                                                    |            |                |            |                   |            |            |            |
| Loans and notes payable                                                                                 |            | $              | 2,190      |                   |            | 1,202      |            |
| Accounts payable                                                                                        |            | 7,411          |            |                   | 8,544      |            |            |
| Accrued liabilities                                                                                     |            | 8,384          |            |                   | 9,715      |            |            |
| Accrued rebates, returns and promotions                                                                 |            | 11,608         |            |                   | 10,883     |            |            |
| Accrued compensation and employee related obligations                                                   |            | 2,166          |            |                   | 3,354      |            |            |
| Accrued taxes on income (Note 5)                                                                        |            | 1,930          |            |                   | 2,266      |            |            |
| Total current liabilities                                                                               |            | 33,689         |            |                   | 35,964     |            |            |
| Long-term debt (Note 4)                                                                                 |            | 25,393         |            |                   | 26,494     |            |            |
| Deferred taxes on income(Note 5)                                                                        |            | 5,766          |            |                   | 5,958      |            |            |
| Employee related obligations (Note 6)                                                                   |            | 10,529         |            |                   | 10,663     |            |            |
| Long-term taxes payable (Note 5)                                                                        |            | 7,402          |            |                   | 7,444      |            |            |
| Other liabilities                                                                                       |            | 10,944         |            |                   | 11,734     |            |            |
| Total liabilities                                                                                       |            | 93,723         |            |                   | 98,257     |            |            |
| Commitments and Contingencies (Note 11)                                                                 |            |                |            |                   |            |            |            |
| Shareholders’ equity:                                                                                   |            |                |            |                   |            |            |            |
| Common stock — par value $1.00 per share (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) |            | $              | 3,120      |                   |            | 3,120      |            |
| Accumulated other comprehensive income (loss) (Note 7)                                                  |            | (16,243        | )          |                   | (15,891    | )          |            |
| Retained earnings                                                                                       |            | 112,901        |            |                   | 110,659    |            |            |
| Less: common stock held in treasury, at cost(487,451,000and 487,336,000 shares)                         |            | 38,484         |            |                   | 38,417     |            |            |
| Total shareholders’ equity                                                                              |            | 61,294         |            |                   | 59,471     |            |            |
| Total liabilities and shareholders' equity                                                              |            | $              | 155,017    |                   |            | 157,728    |            |

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| Column 1                                                                                                | Column 2   | Column 3                  | Column 4   | Column 5      | Column 6   | Column 7   | Column 8   |
|:--------------------------------------------------------------------------------------------------------|:-----------|:--------------------------|:-----------|:--------------|:-----------|:-----------|:-----------|
| JOHNSON & JOHNSON AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited; Dollars in Millions) |            |                           |            |               |            |            |            |
|                                                                                                         |            |                           |            |               |            |            |            |
|                                                                                                         |            | Fiscal Three Months Ended |            |               |            |            |            |
|                                                                                                         |            | March 29,2020             |            | March 31,2019 |            |            |            |
| CASH FLOWS FROM OPERATING ACTIVITIES                                                                    |            |                           |            |               |            |            |            |
| Net earnings                                                                                            |            | $                         | 5,796      |               |            | 3,749      |            |
| Adjustments to reconcile net earnings to cash flows from operating activities:                          |            |                           |            |               |            |            |            |
| Depreciation and amortization of property and intangibles                                               |            | 1,747                     |            |               | 1,761      |            |            |
| Stock based compensation                                                                                |            | 263                       |            |               | 258        |            |            |
| Asset write-downs                                                                                       |            | 11                        |            |               | 913        |            |            |
| Contingent consideration reversal                                                                       |            | (983                      | )          |               | —          |            |            |
| Net gain on sale of assets/businesses                                                                   |            | —                         |            |               | (72        | )          |            |
| Deferred tax provision                                                                                  |            | 54                        |            |               | (362       | )          |            |
| Accounts receivable allowances and credit losses                                                        |            | 22                        |            |               | (3         | )          |            |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures:                   |            |                           |            |               |            |            |            |
| (Increase) / Decrease in accounts receivable                                                            |            | (812                      | )          |               | 157        |            |            |
| Increase in inventories                                                                                 |            | (159                      | )          |               | (369       | )          |            |
| Decrease in accounts payable and accrued liabilities                                                    |            | (2,523                    | )          |               | (1,833     | )          |            |
| Decrease / (Increase) in other current and non-current assets                                           |            | 271                       |            |               | (488       | )          |            |
| Decrease in other current and non-current liabilities                                                   |            | (329                      | )          |               | (168       | )          |            |
|                                                                                                         |            |                           |            |               |            |            |            |
| NET CASH FLOWS FROM OPERATING ACTIVITIES                                                                |            | 3,358                     |            |               | 3,543      |            |            |
|                                                                                                         |            |                           |            |               |            |            |            |
| CASH FLOWS FROM INVESTING ACTIVITIES                                                                    |            |                           |            |               |            |            |            |
| Additions to property, plant and equipment                                                              |            | (625                      | )          |               | (656       | )          |            |
| Proceeds from the disposal of assets/businesses, net                                                    |            | 17                        |            |               | 253        |            |            |
| Acquisitions, net of cash acquired                                                                      |            | (939                      | )          |               | (1,683     | )          |            |
| Purchases of investments                                                                                |            | (2,064                    | )          |               | (730       | )          |            |
| Sales of investments                                                                                    |            | 1,544                     |            |               | 1,495      |            |            |
| Proceeds from credit support agreements, net                                                            |            | 1,743                     |            |               | —          |            |            |
| Other                                                                                                   |            | (257                      | )          |               | (96        | )          |            |
|                                                                                                         |            |                           |            |               |            |            |            |
| NET CASH USED BY INVESTING ACTIVITIES                                                                   |            | (581                      | )          |               | (1,417     | )          |            |
|                                                                                                         |            |                           |            |               |            |            |            |
| CASH FLOWS FROM FINANCING ACTIVITIES                                                                    |            |                           |            |               |            |            |            |
| Dividends to shareholders                                                                               |            | (2,505                    | )          |               | (2,396     | )          |            |
| Repurchase of common stock                                                                              |            | (1,711                    | )          |               | (2,206     | )          |            |
| Proceeds from short-term debt                                                                           |            | 10                        |            |               | 13         |            |            |
| Repayment of short-term debt                                                                            |            | (18                       | )          |               | (16        | )          |            |
| Repayment of long-term debt                                                                             |            | (11                       | )          |               | (1,002     | )          |            |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net               |            | 332                       |            |               | 94         |            |            |
| Other                                                                                                   |            | (412                      | )          |               | (3         | )          |            |
|                                                                                                         |            |                           |            |               |            |            |            |
| NET CASH USED BY FINANCING ACTIVITIES                                                                   |            | (4,315                    | )          |               | (5,516     | )          |            |
|                                                                                                         |            |                           |            |               |            |            |            |
| Effect of exchange rate changes on cash and cash equivalents                                            |            | (237                      | )          |               | 17         |            |            |
| Decrease in cash and cash equivalents                                                                   |            | (1,775                    | )          |               | (3,373     | )          |            |
| Cash and Cash equivalents, beginning of period                                                          |            | 17,305                    |            |               | 18,107     |            |            |
| CASH AND CASH EQUIVALENTS, END OF PERIOD                                                                |            | $                         | 15,530     |               |            | 14,734     |            |
|                                                                                                         |            |                           |            |               |            |            |            |
| Acquisitions                                                                                            |            |                           |            |               |            |            |            |
| Fair value of assets acquired                                                                           |            | $                         | 1,136      |               |            | 2,154      |            |
| Fair value of liabilities assumed and noncontrolling interests                                          |            | (197                      | )          |               | (471       | )          |            |
| Net cash paid for acquisitions                                                                          |            | $                         | 939        |               |            | 1,683      |            |

---

| Column 1                                       | Column 2   | Column 3                   | Column 4   | Column 5        | Column 6   | Column 7      | Column 8   | Column 9        | Column 10   | Column 11   | Column 12   | Column 13   | Column 14   | Column 15   |
|:-----------------------------------------------|:-----------|:---------------------------|:-----------|:----------------|:-----------|:--------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|
|                                                |            |                            |            |                 |            |               |            |                 |             |             |             |             |             |             |
|                                                |            |                            |            |                 |            |               |            |                 |             |             |             |             |             |             |
|                                                |            | Fiscal First Quarter Ended |            |                 |            |               |            |                 |             |             |             |             |             |             |
|                                                |            | March 29,2020              |            | Percentto Sales |            | March 31,2019 |            | Percentto Sales |             |             |             |             |             |             |
| Sales to customers (Note 9)                    |            | $                          | 20,691     |                 |            | 100.0         | %          |                 | $           | 20,021      |             |             | 100.0       | %           |
| Cost of products sold                          |            | 7,062                      |            |                 | 34.1       |               |            | 6,615           |             |             | 33.0        |             |             |             |
| Gross profit                                   |            | 13,629                     |            |                 | 65.9       |               |            | 13,406          |             |             | 67.0        |             |             |             |
| Selling, marketing and administrative expenses |            | 5,203                      |            |                 | 25.1       |               |            | 5,219           |             |             | 26.1        |             |             |             |
| Research and development expense               |            | 2,580                      |            |                 | 12.5       |               |            | 2,858           |             |             | 14.3        |             |             |             |
| In-process research and development            |            | —                          |            |                 | —          |               |            | 890             |             |             | 4.4         |             |             |             |
| Interest income                                |            | (67                        | )          |                 | (0.3       | )             |            | (99             | )           |             | (0.5        | )           |             |             |
| Interest expense, net of portion capitalized   |            | 25                         |            |                 | 0.1        |               |            | 102             |             |             | 0.5         |             |             |             |
| Other (income) expense, net                    |            | (679                       | )          |                 | (3.3       | )             |            | (22             | )           |             | (0.1        | )           |             |             |
| Restructuring (Note 12)                        |            | 58                         |            |                 | 0.3        |               |            | 36              |             |             | 0.2         |             |             |             |
| Earnings before provision for taxes on income  |            | 6,509                      |            |                 | 31.5       |               |            | 4,422           |             |             | 22.1        |             |             |             |
| Provision for taxes on income (Note 5)         |            | 713                        |            |                 | 3.5        |               |            | 673             |             |             | 3.4         |             |             |             |
| NET EARNINGS                                   |            | $                          | 5,796      |                 |            | 28.0          | %          |                 | $           | 3,749       |             |             | 18.7        | %           |
|                                                |            |                            |            |                 |            |               |            |                 |             |             |             |             |             |             |
| NET EARNINGS PER SHARE (Note 8)                |            |                            |            |                 |            |               |            |                 |             |             |             |             |             |             |
| Basic                                          |            | $                          | 2.20       |                 |            |               |            | $               | 1.41        |             |             |             |             |             |
| Diluted                                        |            | $                          | 2.17       |                 |            |               |            | $               | 1.39        |             |             |             |             |             |
|                                                |            |                            |            |                 |            |               |            |                 |             |             |             |             |             |             |
| AVG. SHARES OUTSTANDING                        |            |                            |            |                 |            |               |            |                 |             |             |             |             |             |             |
| Basic                                          |            | 2,633.7                    |            |                 |            |               | 2,660.8    |                 |             |             |             |             |             |             |
| Diluted                                        |            | 2,671.0                    |            |                 |            |               | 2,698.8    |                 |             |             |             |             |             |             |

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English News:
The Janssen Pharmaceutical Companies of Johnson & Johnson announced today the U.S. Food and Drug Administration (FDA) approved DARZALEX FASPRO (daratumumab and hyaluronidase-fihj), a new subcutaneous formulation of daratumumab. DARZALEX FASPRO is approved in four regimens across five indications in multiple myeloma patients, including newly diagnosed, transplant-ineligible patients as well as relapsed or refractory patients.As a fixed-dose formulation, DARZALEX FASPRO can be administered over approximately three to five minutes, significantly less time than DARZALEX,which is given intravenously over hours. In the Phase 3 COLUMBA study supporting the approval, DARZALEX FASPRO demonstrated a consistent overall response rate (ORR) and pharmacokinetics and a similar safety profile compared with intravenous DARZALEX in patients with relapsed or refractory multiple myeloma. In addition, there was a nearly two-thirds reduction in systemic administration-related reactions (ARRs) for DARZALEX FASPRO compared to intravenous DARZALEX (13 percent vs. 34 percent, respectively). Continue Reading (PRNewsfoto/The Janssen Pharmaceutical Comp) \"This approval exemplifies Janssen's mission and commitment to bringing together passion, science and ingenuity to advance novel solutions for patients,\" said Mathai Mammen, M.D., Ph.D., Global Head, Janssen Research & Development, LLC. \"We are excited about the potential of this meaningful innovation in transforming the treatment experience for patients with multiple myeloma where DARZALEX FASPRO can be administered in approximately three to five minutes, significantly less time than intravenous DARZALEX, which is given over hours. Based on its favorable profile, we are accelerating the development of DARZALEX FASPRO and evaluating its potential in multiple ongoing studies.\" Click to Tweet: #NEWS: #FDA approves subcutaneous CD38-directed antibody for the treatment of multiple #myeloma. See here for more details: https://bit.ly/2VozhzY The approval is based on data from the Phase 3 COLUMBA (MMY3012)and Phase 2 PLEIADES (MMY2040) studies.1,2 In the COLUMBA study, the ORR was non-inferior for patients taking DARZALEX FASPROas monotherapycompared to those taking intravenous DARZALEXas monotherapy (41 percent vs. 37 percent, respectively). In addition, there were fewer systemic ARRs with DARZALEX FASPRO versus intravenous DARZALEX (13 percent vs. 34 percent, respectively). In a pooled safety population of 490 patients who received DARZALEXFASPRO as monotherapy or in combination, the ARR rate wFas 11 percent. The safety profiles of intravenous DARZALEX and DARZALEX FASPRO were otherwise similar.1 Additionally, in the Phase 2 PLEIADES study evaluating the efficacy and safety of DARZALEX FASPRO in combination therapies, objective responses were demonstrated in combination with bortezomib, melphalan and prednisone (D-VMP) in newly diagnosed transplant ineligible patients. In addition, objective responses were demonstrated in combination with lenalidomide and dexamethasone (D-Rd) in relapsed or refractory patients who received one prior line of therapy.2\"The Multiple Myeloma Research Foundation shares a common goal with Janssen in advancing treatments for multiple myeloma and addressing the unmet needs of this patient community,\" said Paul Giusti, President and CEO of the Multiple Myeloma Research Foundation (MMRF). \"The approval of DARZALEXFASPRO marks an important milestone which will help make a positive difference in the lives of patients who depend on this effective therapy.\"Click to Tweet: [emailprotected] talks about advancing treatments for multiple #myeloma and addressing patient needs with latest #FDA approval. Read more here: https://bit.ly/2VozhzY \"Since the approval of daratumumab, a robust body of evidence has established its use as a treatment for multiple myeloma in both the frontline and relapsed and refractory settings,\" said Saad Z. Usmani, M.D., Division Chief of Plasma Cell Disorders, Levine Cancer Institute. \"With DARZALEX FASPRO there may be fewer administration-related reactions compared to intravenous DARZALEX, providing an additional treatment option that may help patients, oncologists and nursing staff.\"DARZALEX FASPROis co-formulated with recombinant human hyaluronidase PH20 (rHuPH20) [Halozyme'sENHANZEdrug delivery technology].DARZALEX FASPRO will be available to patients and physicians as soon as the week of May 11, 2020. The intravenous DARZALEX formulation will also remain available as an option for patients and their physicians. DARZALEX FASPROis approved in combination with bortezomib, melphalan and prednisone in newly diagnosed patients who are ineligible for autologous stem cell transplant, in combination with lenalidomide and dexamethasone in newly diagnosed patients who are ineligible for autologous stem cell transplant and in patients with relapsed or refractory multiple myeloma who have received at least one prior therapy, in combination with bortezomib and dexamethasone in patients who have received at least one prior therapy, as monotherapy, in patients who have received at least three prior lines of therapy including a proteasome inhibitor (PI) and an immunomodulatory agent or who are double-refractory to a PI and an immunomodulatory agent.The U.S. FDA approval of DARZALEX FASPRO marks the first approval for this innovative subcutaneous formulation globally, and Janssen continues to work with health authorities around the world in an effort to bring this new treatment option to patients living with multiple myeloma.Access to DARZALEX FASPRO (daratumumab and hyaluronidase-fihj)Janssen offers comprehensive access and support information, resources and services to assist U.S. patients in gaining access to DARZALEX FASPROthrough the Janssen CarePath Program. Through the program, eligible commercial patients pay no more than $5 per injection, regardless of individual income level. Information on the enrollment process is available online atwww.CarePathSavingsProgram.com/DARZALEX.For more information, healthcare providers or patients can contact: 1-844-55DARZA (1-844-553-2792). Information will also be available atwww.DARZALEX.com. Dedicated case coordinators are available to work with both healthcare providers and patients.About the COLUMBA Study 1The randomized, open-label, multicenter Phase 3 COLUMBA study (MMY3012) included 522 patients (median age of 67 years) with multiple myeloma who had received at least three prior lines of therapy including a proteasome inhibitor (PI) and an immunomodulatory drug (IMiD), or whose disease was refractory to both a PI and an IMiD. In the arm that received DARZALEX FASPRO(n=263), patients received a fixed dose of DARZALEX FASPRO1,800 milligrams (mg), co-formulated with recombinant human hyaluronidase PH20 (rHuPH20) 2,000 Units per milliliter (U/mL), subcutaneously weekly for Cycles 1 2, every two weeks for Cycles 3 6 and every four weeks for Cycle 7 and thereafter. In the intravenous DARZALEXarm (n=259), patients received DARZALEXfor intravenous infusion 16 milligrams per kilogram (mg/kg) weekly for Cycles 1 2, every two weeks for Cycles 3 6 and every four weeks for Cycle 7 and thereafter. Each cycle was 28 days. In the arm that received DARZALEX FASPRO, itwas given in a fixed volume of 15 mL over three to five minutes; the median injection time was five minutes. In the arm that received theintravenous administration, the median durations of the first, second and subsequent intravenous DARZALEXinfusions were 7.0, 4.3 and 3.4 hours, respectively.Patients in both arms continued treatment until disease progression or unacceptable toxicity.About the PLEIADES Study 2The non-randomized, open-label, parallel assignment Phase 2 PLEIADES study (MMY2040) included more than 240 adults with multiple myeloma, including 67 patients with newly diagnosed multiple myeloma who were treated with 1,800 mg of DARZALEX FASPROin combination with bortezomib, melphalan, and prednisone (D-VMP) and 65 patients with relapsed or refractory disease who were treated with 1,800 mg of DARZALEX FASPROplus lenalidomide and dexamethasone (D-Rd). The primary endpoint for the D-VMP and D-Rd cohorts was overall response rate.About DARZALEXand DARZALEX FASPROJanssen is committed to exploring the potential of DARZALEX (daratumumab) for patients with multiple myeloma across the spectrum of the disease. DARZALEX has been approved in seven indications, three of which are in the frontline setting, including newly diagnosed patients who are transplant eligible and ineligible.DARZALEX has become a backbone therapy in the treatment of multiple myeloma, having been used in the treatment of more than 58,000 patients in the U.S. alone since its U.S. FDA approval in 2015. DARZALEX is the first CD38-directed antibody approved globally to treat multiple myeloma and in 2020, DARZALEX FASPRO(daratumumab and hyaluronidase human-fihj) follows as the only subcutaneous CD38-directed antibody approved to treat patients with multiple myeloma.2CD38 is a surface protein that is present in high numbers on multiple myeloma cells, regardless of the stage of disease.4 DARZALEX binds to CD38 and inhibits tumor cell growth causing myeloma cell death.5 DARZALEX may also have an effect on normal cells.3 Data across seven Phase 3 clinical trials, in both the frontline and relapsed settings, have shown that DARZALEX-based regimens resulted in significant improvement in progression-free survival and/or overall survival. 4,5,6,7,8,9,10,11 Additional studies are underway to assess the efficacy and safety of DARZALEXFASPRO in the treatment of other malignant and pre-malignant hematologic diseases in which CD38 is expressed, including smoldering myeloma and in amyloidosis.12,13Key DARZALEX Milestones: In August 2012, Janssen entered into an exclusive global license and development agreement with Genmab A/S to develop, manufacture, and commercialize DARZALEX.14 In November 2015 DARZALEX received initial U.S. FDA approval as a monotherapy for the treatment of patients with multiple myeloma who have received at least three prior lines of therapy, including a proteasome inhibitor (PI) and an immunomodulatory agent, or who are double refractory to a PI and an immunomodulatory agent.15 In November 2016 DARZALEX received an additional approval in combination with lenalidomide and dexamethasone, or bortezomib and dexamethasone, for the treatment of patients with multiple myeloma who have received at least one prior therapy.16 In June 2017, DARZALEX received approval in combination with pomalidomide and dexamethasone for the treatment of patients with multiple myeloma who have received at least two prior therapies, including lenalidomide and a PI.17 In May 2018, DARZALEX received approval in combination with bortezomib, melphalan, and prednisone for the treatment of patients with newly diagnosed multiple myeloma who are ineligible for ASCT, making it the first monoclonal antibody approved for newly diagnosed patients with this disease.18 In June 2019, DARZALEX received approval in combination with lenalidomide and dexamethasone for the treatment of patients with newly diagnosed multiple myeloma who are transplant ineligible.19 In September 2019, DARZALEX received approval in combination with bortezomib, thalidomide, and dexamethasone for the treatment of newly diagnosed patients who are eligible for autologous stem cell transplant.20 In April 2020, DARZALEX FASPRO, a subcutaneous formulation of DARZALEX, received approval for the treatment of certain patients with newly diagnosed or relapsed/refractory multiple myeloma, including in combination with bortezomib, melphalan and prednisone in newly diagnosed patients who are ineligible for autologous stem cell transplant, in combination with lenalidomide and dexamethasone in newly diagnosed patients who are ineligible for autologous stem cell transplant and in patients with relapsed or refractory multiple myeloma who have received at least one prior therapy, in combination with bortezomib and dexamethasone in patients who have received at least one prior therapy, as monotherapy, in patients who have received at least three prior lines of therapy including a PI and an immunomodulatory agent or who are double-refractory to a PI and an immunomodulatory agent. Please see full Prescribing Information at www.DARZALEX.com. About Multiple MyelomaMultiple myeloma is an incurable blood cancer that affects a type of white blood cell called plasma cells, which are found in the bone marrow.21,22When damaged, these plasma cells rapidly spread and replace normal cells with tumors in the bone marrow. In 2020, it is estimated that 32,270 people will be diagnosed and 12,830 will die from the disease in the U.S.24 While some patients with multiple myeloma have no symptoms, most patients are diagnosed due to symptoms, which can include bone fracture or pain, low red blood cell counts, tiredness, high calcium levels, kidney problems or infections.23DARZALEX FASPROIMPORTANT SAFETY INFORMATION CONTRAINDICATIONSDARZALEX FASPRO is contraindicated in patients with a history of severe hypersensitivity to daratumumab, hyaluronidase or any of the components of the formulation.WARNINGS AND PRECAUTIONSHypersensitivity And Other Administration ReactionsBoth systemic administration-related reactions, including severe or life-threatening reactions, and local injection-site reactions can occur with DARZALEX FASPRO.Systemic ReactionsIn a pooled safety population of 490patients who received DARZALEX FASPROas monotherapy or in combination, 11% of patients experienced a systemic administration-related reaction (Grade 2: 3.9%, Grade 3: 1.4%). Systemic administration-related reactions occurred in 10% of patients with the first injection, 0.2% with the second injection, and cumulatively 0.8% with subsequent injections. The median time to onset was 3.7hours (range: 9minutes to 3.5days). Of the 84systemic administration-related reactions that occurred in 52patients, 73(87%) occurred on the day of DARZALEX FASPRO administration. Delayed systemic administration-related reactions have occurred in less than 1% of the patients.Severe reactions included hypoxia, dyspnea, hypertension and tachycardia. Other signs and symptoms of systemic administration-related reactions may include respiratory symptoms, such as bronchospasm, nasal congestion, cough, throat irritation, allergic rhinitis, and wheezing, as well as anaphylactic reaction, pyrexia, chest pain, pruritis, chills, vomiting, nausea, and hypotension.Pre-medicate patients with histamine-1 receptor antagonist, acetaminophen and corticosteroids. Monitor patients for systemic administration-related reactions, especially following the first and second injections. For anaphylactic reaction or life-threatening (Grade 4) administration-related reactions, immediately and permanently discontinue DARZALEX FASPRO. Consider administering corticosteroids and other medications after the administration of DARZALEX FASPRO depending on dosing regimen and medical history to minimize the risk of delayed (defined as occurring the day after administration) systemic administration-related reactions.Local ReactionsIn this pooled safety population, injection-site reactions occurred in 8% of patients, including Grade2 reactions in 0.6%. The most frequent (>1%) injection-site reaction was injection site erythema. These local reactions occurred a median of 7minutes (range: 0minutes to 4.7days) after starting administration of DARZALEX FASPRO. Monitor for local reactions and consider symptomatic management.NeutropeniaDaratumumab may increase neutropenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to manufacturer's prescribing information for background therapies. Monitor patients with neutropenia for signs of infection. Consider withholding DARZALEX FASPRO until recovery of neutrophils. In lower body weight patients receiving DARZALEX FASPRO, higher rates of Grade 3-4 neutropenia were observed.ThrombocytopeniaDaratumumab may increase thrombocytopenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to manufacturer's prescribing information for background therapies. Consider withholding DARZALEX FASPRO until recovery of platelets.Embryo-Fetal ToxicityBased on the mechanism of action, DARZALEX FASPRO can cause fetal harm when administered to a pregnant woman. DARZALEX FASPRO may cause depletion of fetal immune cells and decreased bone density. Advise pregnant women of the potential risk to a fetus. Advise females with reproductive potential to use effective contraception during treatment with DARZALEX FASPRO and for 3months after the last dose.The combination of DARZALEX FASPRO with lenalidomide is contraindicated in pregnant women, because lenalidomide may cause birth defects and death of the unborn child. Refer to the lenalidomide prescribing information on use during pregnancy.Interference with Serological TestingDaratumumab binds to CD38 on red blood cells (RBCs) and results in a positive Indirect Antiglobulin Test (Indirect Coombs test). Daratumumab-mediated positive indirect antiglobulin test may persist for up to 6months after the last daratumumab administration. Daratumumab bound to RBCs masks detection of antibodies to minor antigens in the patient's serum. The determination of a patient's ABO and Rh blood type are not impacted.Notify blood transfusion centers of this interference with serological testing and inform blood banks that a patient has received DARZALEX FASPRO. Type and screen patients prior to starting DARZALEX FASPRO.Interference with Determination of Complete ResponseDaratumumab is a human IgG kappa monoclonal antibody that can be detected on both the serum protein electrophoresis (SPE) and immunofixation (IFE) assays used for the clinical monitoring of endogenous M-protein. This interference can impact the determination of complete response and of disease progression in some DARZALEX FASPRO -treated patients with IgG kappa myeloma protein.Adverse ReactionsThe most common adverse reaction (20%) with DARZALEX FASPRO monotherapy is: upper respiratory tracts infection. The most common adverse reactions (20%) with D-VMP are upper respiratory tract infection, constipation, nausea, fatigue, pyrexia, peripheral sensory neuropathy, diarrhea, cough, insomnia, vomiting, and back pain. The most common adverse reactions (20%) with D-Rd are fatigue, diarrhea, upper respiratory tract infection, muscle spasms, constipation, pyrexia, pneumonia and dyspnea. The most common hematology laboratory abnormalities (40%) with DARZALEX FASPRO are decreased leukocytes, decreased lymphocytes, decreased neutrophils, decreased platelets, and decreased hemoglobin.Please see full Prescribing Information at www.DARZALEX.com. DARZALEX IMPORTANT SAFETY INFORMATIONCONTRAINDICATIONSDARZALEX (daratumumab) is contraindicated in patients with a history of severe hypersensitivity (e.g., anaphylactic reactions) to daratumumab or any of the components of the formulation.WARNINGS AND PRECAUTIONSInfusion Reactions DARZALEX can cause severe and/or serious infusion reactions, including anaphylactic reactions. In clinical trials, approximately half of all patients experienced an infusion reaction. Most infusion reactions occurred during the first infusion and were Grade 1-2. Infusion reactions can also occur with subsequent infusions. Nearly all reactions occurred during infusion or within 4 hours of completing DARZALEX.Prior to the introduction of post-infusion medication in clinical trials, infusion reactions occurred up to 48 hours after infusion. Severe reactions have occurred, including bronchospasm, hypoxia, dyspnea, hypertension, laryngeal edema, and pulmonary edema. Signs and symptoms may include respiratory symptoms, such as nasal congestion, cough, throat irritation, as well as chills, vomiting, and nausea. Less common symptoms were wheezing, allergic rhinitis, pyrexia, chest discomfort, pruritus, and hypotension.Pre-medicate patients with antihistamines, antipyretics, and corticosteroids. Frequently monitor patients during the entire infusion. Interrupt infusion for reactions of any severity and institute medical management as needed. Permanently discontinue therapy if an anaphylactic reaction or life-threatening (Grade 4) reaction occurs and institute appropriate emergency care.For patients with Grade 1, 2, or 3reactions, reduce the infusion rate when re-starting the infusion.To reduce the risk of delayed infusion reactions, administer oral corticosteroids to all patients following DARZALEX infusions. Patients with a history of chronic obstructive pulmonary disease may require additional post-infusion medications to manage respiratory complications. Consider prescribing short- and long-acting bronchodilators and inhaled corticosteroids for patients with chronic obstructive pulmonary disease.Interference with Serological Testing Daratumumab binds to CD38 on red blood cells (RBCs) and results in a positive Indirect Antiglobulin Test (Indirect Coombs test). Daratumumab-mediated positive indirect antiglobulin test may persist for up to 6 months after the last daratumumab infusion. Daratumumab bound to RBCs masks detection of antibodies to minor antigens in the patient's serum. The determination of a patient's ABO and Rh blood type are not impacted. Notify blood transfusion centers of this interference with serological testing and inform blood banks that a patient has received DARZALEX. Type and screen patients prior to starting DARZALEX.Neutropenia and Thrombocytopenia DARZALEX may increase neutropenia and/or thrombocytopenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to the manufacturer's prescribing information for background therapies. Monitor patients with neutropenia for signs of infection.DARZALEX dose delay may be required to allow recovery of neutrophils and/or platelets. No dose reduction of DARZALEX is recommended. Consider supportive care with growth factors for neutropenia or transfusions for thrombocytopenia.Interference with Determination of Complete Response Daratumumab is a human IgG kappa monoclonal antibody that can be detected on both the serum protein electrophoresis (SPE) and immunofixation (IFE) assays used for the clinical monitoring of endogenous M-protein. This interference can impact the determination of complete response and of disease progression in some patients with IgG kappa myeloma protein.Adverse Reactions The most frequently reported adverse reactions (incidence 20%) were: infusion reactions, neutropenia, thrombocytopenia, fatigue, asthenia, nausea, diarrhea, constipation, decreased appetite, vomiting, muscle spasms, arthralgia, back pain, pyrexia, chills, dizziness, insomnia, cough, dyspnea, peripheral edema, peripheral sensory neuropathy, bronchitis, pneumonia, and upper respiratory tract infection.DARZALEX in combination with lenalidomide and dexamethasone (DRd): The most frequent (20%) adverse reactions for newly diagnosed or relapsed/refractory patients were, respectively, infusion reactions (41%, 48%), diarrhea (57%, 43%), nausea (32%, 24%), fatigue (40%, 35%), pyrexia (23%, 20%), upper respiratory tract infection (52%, 65%), muscle spasms (29%, 26%), dyspnea (32%, 21%), and cough (30%, 30%). In newly diagnosed patients, constipation (41%), peripheral edema (41%), back pain (34%), asthenia (32%), bronchitis (29%), pneumonia (26%), peripheral sensory neuropathy (24%), and decreased appetite (22%) were also reported. In newly diagnosed patients, serious adverse reactions (2% compared to Rd)were pneumonia (15%), bronchitis (4%), and dehydration (2%), and treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were neutropenia (56%), lymphopenia (52%), and leukopenia (35%). In relapsed/refractory patients, serious adverse reactions (2% compared to Rd)were pneumonia (12%), upper respiratory tract infection (7%), influenza (3%), and pyrexia (3%), and treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were neutropenia (53%) and lymphopenia (52%). DARZALEXin combination with bortezomib, melphalan, and prednisone (DVMP): The most frequently reported adverse reactions (20%) were upper respiratory tract infection (48%), infusion reactions (28%), and peripheral edema (21%). Serious adverse reactions (2% compared to the VMP arm) were pneumonia (11%), upper respiratory tract infection (5%), and pulmonary edema (2%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (58%), neutropenia (44%), and thrombocytopenia (38%).DARZALEX in combination with bortezomib and dexamethasone (DVd): Themost frequently reported adverse reactions (20%) were peripheral sensory neuropathy (47%), infusion reactions (45%), upper respiratory tract infection (44%), diarrhea (32%), cough (27%), peripheral edema (22%), and dyspnea (21%). The overall incidence of serious adverse reactions was 42%. Serious adverse reactions (2% compared to Vd) were upper respiratory tract infection (5%), diarrhea (2%), and atrial fibrillation (2%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (48%) and thrombocytopenia (47%).DARZALEX in combination with bortezomib, thalidomide, and dexamethasone (DVTd): The most frequent adverse reactions (20%) were infusion reactions (35%), nausea (30%), upper respiratory tract infection (27%), pyrexia (26%), and bronchitis (20%). Serious adverse reactions (2% compared to the VTd arm) were bronchitis (DVTd 2% vs. VTd <1%)and pneumonia (DVTd 6% vs. VTd 4%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (59%), neutropenia (33%), and leukopenia (24%).DARZALEX in combination with pomalidomide and dexamethasone (DPd): Themost frequent adverse reactions (>20%) were fatigue (50%), infusion reactions (50%), upper respiratory tract infection (50%), cough (43%), diarrhea (38%), constipation (33%), dyspnea (33%), nausea (30%), muscle spasms (26%), back pain (25%), pyrexia (25%), insomnia (23%), arthralgia (22%), dizziness (21%), and vomiting (21%). The overall incidence of serious adverse reactions was 49%. Serious adverse reactions reported in 5% of patients included pneumonia (7%).Treatment-emergent Grade 3-4 hematologylaboratory abnormalities (20%) were neutropenia (82%), lymphopenia (71%), and anemia (30%). DARZALEX as monotherapy: Themost frequently reported adverse reactions (20%) were infusion reactions (48%), fatigue (39%), nausea (27%), back pain (23%), pyrexia (21%), cough (21%), and upper respiratory tract infection (20%). The overall incidence of serious adverse reactions was 33%. The most frequent serious adverse reactions were pneumonia (6%), general physical health deterioration (3%), and pyrexia (3%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (40%) and neutropenia (20%).Please see full Prescribing Information at www.DARZALEX.com. About the Janssen Pharmaceutical Companies of Johnson & Johnson At Janssen, we're creating a future where disease is a thing of the past. We're the Pharmaceutical Companies of Johnson & Johnson, working tirelessly to make that future a reality for patients everywhere by fighting sickness with science, improving access with ingenuity, and healing hopelessness with heart. We focus on areas of medicine where we can make the biggest difference: Cardiovascular & Metabolism, Immunology, Infectious Diseases & Vaccines, Neuroscience, Oncology, and Pulmonary Hypertension.Learn more at www.janssen.com. Follow us at www.twitter.com/JanssenGlobal. Janssen Research & Development, LLC and Janssen Biotech, Inc. are part of the Janssen Pharmaceutical Companies of Johnson & Johnson.Cautions Concerning Forward-Looking StatementsThis press release contains \"forward-looking statements\" as defined in the Private Securities Litigation Reform Act of 1995 regarding DARZALEX FASPRO. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Janssen Biotech, Inc. and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, including in the sections captioned \"Cautionary Note Regarding Forward-Looking Statements\" and \"Item 1A. Risk Factors,\" and in the company's most recently filed Quarterly Report on Form 10-Q, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.comor on request from Johnson & Johnson. None of the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments.ENHANZEis a registered trademark of Halozyme. 1Mateos M-V et al. Efficacy and Safety of the Randomized, Open-Label, Non-inferiority, Phase 3 Study of Subcutaneous (SC) Versus Intravenous (IV) Daratumumab (DARA) Administration in Patients (pts) With Relapsed or Refractory Multiple Myeloma (RRMM): COLUMBA. 2019 American Society of Clinical Oncology Annual Meeting. June 2019.2Janssen Research & Development, LLC. A Study to Evaluate Subcutaneous Daratumumab in Combination With Standard Multiple Myeloma Treatment Regimens. In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000 [cited July 5, 2019]. Available at: https://clinicaltrials.gov/ct2/show/NCT03412565. Identifier: NCT03412565.32020Fedele G et al. CD38 Ligation in Peripheral Blood Mononuclear Cells of Myeloma Patients Induces Release of Protumorigenic IL-6 and Impaired Secretion of IFN Cytokines and Proliferation. Mediators Inflamm. 2013;564687.4Janssen Research & Development, LLC. A Study Comparing Daratumumab, Lenalidomide, and Dexamethasone With Lenalidomide and Dexamethasone in Relapsed or Refractory Multiple Myeloma. In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02076009?term=mmy3003&rank=1 Identifier: NCT02136134 .5Janssen Research & Development, LLC. Addition of Daratumumab to Combination of Bortezomib and Dexamethasone in Participants With Relapsed or Refractory Multiple Myeloma. In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02136134?term=mmy3004&rank=1 Identifier: NCT02076009.6Janssen Research & Development, LLC. A Study to Evaluate Daratumumab in Transplant Eligible Participants With Previously Untreated Multiple Myeloma (Cassiopeia). In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02541383?term=mmy3006 Identifier: NCT02541383.7Janssen Research & Development, LLC. A Study of Combination of Daratumumab and Velcade (Bortezomib) Melphalan-Prednisone (DVMP) Compared to Velcade Melphalan-Prednisone (VMP) in Participants With Previously Untreated Multiple Myeloma In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02195479?term=mmy3007&rank=1 Identifier: NCT02195479.8Janssen Research & Development, LLC. Study Comparing Daratumumab, Lenalidomide, and Dexamethasone With Lenalidomide and Dexamethasone in Participants With Previously Untreated Multiple Myeloma. In: ClinicalTri

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本周，美股迎来财报季“关键周”。就在大部分行业因“大封锁”叫苦不迭之际，医药股则成为疫情中显著的赢家。继上周的强生、罗氏之后，辉瑞和诺华也于当地时间4月28日发布一季度财报。根据各公司财报显示，第一季度“药企四巨头”业绩表现呈增长趋势，而追踪参与参与新冠研发企业股价的新冠病毒检测治疗指数（Covid-19 Testing&Treatment Index，简称Covid-19 Index），更实在今年上涨了80%，完胜标普500指数大盘。Covid-19 Index目前由29家公司制药公司和生物技术公司组成，这些公司均正在参与测试和治疗新冠病毒，其中包括吉利德科学、Biogen、强生、罗氏、安进、赛诺菲、雅培、Moderna等。按市值计算，其最大的组成部分是强生、罗氏、辉瑞和诺华。截至当地时间4月27日，Covid-19 Index在2020年已经超涨80%。不过，“四巨头”股价在2020年的表现喜忧参半。2020年至今，强生股价已累计上涨3.78%，罗氏股价已累计上涨15.63%，诺华股价已累计下跌4.68%，辉瑞股价已累计下跌3.24%。创新药物销售额逆势增长 作为2019年Fierce Pharma收入前20名的制药企业排行榜的前四强，强生、罗氏、辉瑞和诺华在第一季度的表现备受关注。上周，强生和罗氏率先公布2020财年第一季度财报。强生第一季度销售额为206.91亿美元，去年同期为200.21亿美元，同比增长3.3%；未经调整的净利润为57.96亿美元，同比增长54.6%。按业务来看，第一季度制药部门销售额增长8.7%至111.3亿美元，消费者健康部门销售额增长9.2%至36.25亿美元，而医疗器械部门销售额下降8.2%至59.32亿美元。强生在其财报中指出，用于治疗多发性骨髓瘤的Darzalex销售额同比增长49%，成为强生肿瘤药头牌；用于慢性淋巴细胞白血病(CLL)的Imbruvica同比增长31.6%。这两款药物的强劲表现令肿瘤药业务增幅为19.7%，是该集团表现最亮眼的部门。罗氏第一季度销售额增长7%，达151.43亿瑞士法郎（约155亿美元） 。在免疫疗法Tecentriq、血友病药物Hemlibra、多发性硬化症药物Ocrevus和乳腺癌药物Perjeta四大新药的推动下，罗氏制药销售额增长7%，达122.62亿瑞士法郎 (约125亿美元)。罗氏诊断产品销售额增长5%，达28.82亿瑞士法郎（约29亿美元），分子检测是该业务的主要贡献者。当地时间4月28日，诺华和辉瑞公布第一季度财报。诺华第一季度净销售额为122.83亿美元，同比增长11%；净利润为21.73亿美元，同比增长22%；每股收益为0.96美元，同比增长16%。其创新药物部（Innovative Medicines）的增长主要来自同比增长62%的心衰药物Entresto、同比增长82%的乳腺癌药物Kisqali以及同比增长19%的类风湿关节炎治疗药物Cosentyx。此外，诺华指出，其仿制药业务（Sandoz）的增长主要源于新冠病毒相关药物的长期采购影响，至少为其带来4亿美元的额外收入。辉瑞第一季度营收为120.28亿美元，同比下降8%；如果除去消费者健康业务，同比下降1%；净利润为34.01亿美元，同比下降12%。辉瑞第一季度调整后每股收益为0.80美元，同比下降5%。对于辉瑞来说，最大的挑战来自普强（Upjohn）。受专利到期后，仿制药带来的持续冲击，第一季度Upjohn营收为20.22亿美元，同比下降37%。不过，其创新药物（BioPharma）营收为100.07亿美元，同比增长11%，主要受抗凝药物Eliquis和乳腺癌新药Ibrance的推动。辉瑞是“四巨头”之中唯一一个净利润出现下降的公司。对此，辉瑞CEO Albert Bourla表示，“尽管受到疫情影响，公司业绩下滑。但在2022年之前，大约有25-30个产品获批，其中15个有望成为重磅产品。辉瑞新的架构在过渡以后，预计将会得到更高、更持久的营收增长。”抗病毒各显神通 尽管欧美各国的疫情有放缓的趋势，但是美国新冠肺炎确诊病例已超过100万人。美国国家过敏和传染病研究所所长福奇(Anthony Fauci)也于4月28日警告称，如果没有找到有效的治疗新冠病毒的方法，美国可能将迎来一个“糟糕的秋天”。他强调，新冠病毒“不会从地球上消失”。这一观点令投资者恐慌加剧，将希望寄托于医药企业，希望他们尽早研发出抑制病毒的疗法。强生在第一季度财报中披露了新冠病毒疫苗的进展。强生预计6月份之前完成生产前准备工作，9月份启动首次人体临床研究，12月份获得初步临床数据，2021年第一季度可获得第一个批次的疫苗，并能够满足紧急授权使用。强生承诺将向全球范围提供10亿剂疫苗。强生首席执行官Alex Gorsky表示，“我们正在利用我们的科学专业知识、操作规模和资金实力，努力推进我们的新冠病毒候选疫苗的研究工作。我们承诺立即在有风险的情况下开始生产，并在不盈利的基础上向公众提供可负担得起的和可获得的疫苗，以应付此次紧急卫生事件。”辉瑞也透露，该公司和德国生物科技公司BioNTech联合开发的BNT162新冠肺炎疫苗已经获德国疫苗和生物医学联邦研究所Paul Ehrlich Institute监管批准，有望在本月底进入人体试验阶段，预期在年内能生产“数百万支”疫苗。Bourla表示，“我们的研究人员和科学家也一直在探索辉瑞现有药物的潜在新用途，以帮助受感染的患者。我们的目标是不遗余力地探索每一种选择，为社会提供治疗或疫苗。”虽然没有研发疫苗，罗氏在其财报中指出，该公司已推出Cobas新冠病毒检测诊断系统。据悉，Cobas新冠肺炎病毒诊断系统能让医院和实验室进行大规模的病毒检测，使用该诊断系统能在3.5小时之后获得诊断结果。目前该诊断系统已经获得FDA紧急许可，也已经能在全球所有认可欧盟标准的市场获得许可，预计将在5月初获批上市，而其月产量有望在6月前达到千万份（high double-digit million）。此外，罗氏正在针对托珠单抗治疗新冠病毒在多国开展III期临床试验，有望在初夏得到试验结果，同时托珠单抗增产也在进行中。Federated Hermes投资组合经理Steve Chiavarone表示，“目前有70多种疫苗正在研发中，因此，无论哪一家公司最先成功，都有可能从中受益。更广泛地说，这与疫苗无关，更重要的是我们将如何走出这场危机。”全年展望弱化新冠影响 尽管新冠疫情的前景充满不确定性，但是他们仍然确认了2020年全年预期。罗氏认为，新冠病毒大流行对部分市场的影响波动对第一季度的经营业绩影响有限，全球药品和检测产品供应链仍完好无损。根据目前对新冠病毒影响的评估，确定了2020年公司前景，在固定汇率下，销售额将在中、低个位数的范围内增长；核心每股收益的增长目标将与销售额大致一致。辉瑞则重申其全年调整后每股收益2.82美元至2.92美元，营收将在485美元至505亿美元。不过，辉瑞也在财报中指出，为了应对新冠病毒大流行，辉瑞多项正在进行和新的临床试验注册受阻。此外，拟议的Mylan和Upjohn合并交易也未能如期完成，将延期至2020年下半年结束。令人意外的是，业绩表现抢眼的强生下调了其全年展望。强生预计，受新冠肺炎疫情影响，公司2020年营收将为775亿美元至805亿美元，同比下滑2.0%至5.5%；该公司此前预计2020年营收将为854亿美元至862亿美元，同比增长4.0%至5.0%。调整后的每股收益为7.50美元至7.90美元，同比下滑9%至13.6%；此前预计调整后的每股收益为8.95美元至9.10美元，同比增长3.1%至4.8%。诺华维持了原先的预期。诺华预计，其2020年净销售额将在中、高个位数的范围内增长，其中创新药物业务将在中、高个位数的范围内增长；仿制药业务将在低个位数范围内增长。诺华集团首席执行官万思瀚（Vas Narasimhan）表示，“+11%的爆发增长，让诺华在2020迎来了一个强劲的开局。我们继续向患者提供我们的药物，并推进我们的创新渠道，这反映在我们第一季度强劲的运营业绩上。虽然未来一年仍有许多不确定因素，但我们目前仍维持全年展望，并将继续发挥我们的作用，以克服流感大流行。”Chiavarone认为，在卫生保健领域，那些帮助大家渡过这次新冠病毒大流行的公司可能才是赢家。Chiavarone补充道，“我认为我们已经认识到的一件事是，我们的卫生保健系统没有为此做好准备。因此，我们预计未来将会发生的一件事情是建立关键医疗设备和关键抗病毒药物的战略储备。我们预计会有大量采购发生或在这些领域掀起一场购买狂潮。”

Japanese News:
米ジョンソン・エンド・ジョンソン（J&J）は、2020年第1四半期（1～3月期）の決算において増収増益となった。新型コロナウイルスの世界的な感染拡大を背景に、解熱鎮痛薬「タイレノール」など日用品やヘルスケア製品の需要が急激に伸びたことが主な要因。ただ一方では、感染対応を優先する医療現場で緊急性が低い手術が延期されたことで、医療機器の売上は落ち込んだ。こうした影響を考慮し、J&Jは2020年通期の業績予想を下方修正した。 第1四半期の業績は、前年同時期と比較して売上と利益がともに改善したほか、四半期配当の引き上げも発表された。特に家庭向けの日用品（シャンプーや鎮痛剤）の売上が大きく貢献した。これは各国で外出制限措置が導入され、消費者が生活必需品を買いだめしたことが影響したとみられる。 しかし、医療機器部門の業績は悪化した。各医療機関が新型コロナ感染症患者の治療を優先した結果、緊急性の低い外科手術を中止または延期したことが影響した。同社最大のセグメントである医薬品事業は比較的安定した需要を維持したが、患者が薬品を30日分から90日分へとまとめ買いする動きが見られたためとされている。 新型コロナの感染が米国内で本格的に深刻化したのは3月に入ってからだった。同社の第1四半期売上高は前年同期比で3.3％増の206億9000万ドル（約2兆2200億円）となった。また調整後の1株当たり利益は前年同期の2.10ドルから2.30ドルに増加した。 一方、2020年通期の売上高については、当初予測の858億～866億ドルから、792億～822億ドルへと下方修正した。

Spanish News:
La multinacional farmacéutica Johnson & Johnson informó este martes que anticipa una recuperación de su segmento de dispositivos médicos hacia finales del año, especialmente durante el último trimestre, cuando prevé que se retomen procedimientos médicos opcionales que han sufrido retrasos por la crisis del COVID-19. Como consecuencia directa del impacto de la pandemia en este negocio, que incluye implantes ortopédicos como los de cadera y rodilla, la compañía ajustó a la baja su previsión de beneficios para todo el año. Esta división representa aproximadamente un 30% del total de ventas trimestrales. Sin embargo, el mercado recibió positivamente el hecho de que Johnson & Johnson mantuviera una previsión ajustada para 2020, pese al difícil panorama global generado por la pandemia. Además, la empresa incrementó su dividendo trimestral a 1,01 dólares por acción, lo que impulsó sus títulos bursátiles casi un 5%, situándose en 146,89 dólares por acción. La empresa proyectó unas ganancias ajustadas para este año entre 7,50 y 7,90 dólares por acción, cifras inferiores a las estimaciones anteriores, que estaban entre 8,95 y 9,10 dólares. Estas nuevas previsiones se elaboraron bajo el supuesto de que una posible segunda ola del coronavirus en otoño tendría características y efectos diferentes a la crisis actual. El director financiero de Johnson & Johnson, Joseph Wolk, afirmó durante una conferencia telefónica que, en caso de que el virus resurja, los sistemas sanitarios estarían mejor preparados para realizar pruebas diagnósticas, detectar casos e implementar aislamientos oportunos. Asimismo, se mostró optimista sobre la disponibilidad de tratamientos efectivos para entonces. Según Wolk, es probable que los procedimientos médicos no esenciales y las consultas presenciales se reanuden en gran medida durante la segunda mitad del año. Esto implica que la división médica continuará experimentando efectos negativos en el corto plazo, aunque comenzaría a mostrar signos de estabilización a partir del tercer trimestre. Actualmente, diversas compañías farmacéuticas están intensificando esfuerzos para obtener tratamientos efectivos y vacunas contra el coronavirus, que hasta ahora ha infectado a cerca de 2 millones de personas en todo el mundo. En este contexto, Johnson & Johnson confirmó que está trabajando en una vacuna, cuyos primeros ensayos clínicos en humanos están previstos para septiembre, con la meta de conseguir una autorización provisional para principios del próximo año. El CEO de la compañía, Alex Gorsky, aseguró que la vacuna se está desarrollando con la intención expresa de no generar beneficios económicos en situaciones de emergencia global. En cuanto a los resultados trimestrales específicos, Johnson & Johnson —primer gran laboratorio estadounidense en publicar resultados tras la crisis sanitaria— reportó que sus ventas en la división de instrumental médico descendieron un 8,2%, situándose en 5.930 millones de dólares. Dentro de esta categoría, los productos para cirugía ortopédica y corrección visual, que suelen ofrecer márgenes elevados, fueron los más afectados. Por otro lado, el segmento farmacéutico mostró un crecimiento del 8,7%, alcanzando ventas por 11.130 millones de dólares, impulsado principalmente por una mayor demanda de fármacos oncológicos como Darzalex e Imbruvica. Finalmente, los productos de salud de consumo experimentaron un incremento en sus ventas del 9,2%, alcanzando los 3.630 millones de dólares. Este resultado estuvo respaldado por la fuerte demanda de medicamentos populares contra la fiebre y la tos, como Tylenol y Motrin, ante los síntomas típicos asociados al coronavirus.

Greek News:
Η Johnson & Johnson εξακολουθεί να βρίσκεται αντιμέτωπη με σημαντικές νομικές προκλήσεις στις ΗΠΑ, καθώς περισσότερες από 16.000 αγωγές έχουν κατατεθεί εναντίων της με κατηγορίες ότι το παιδικό ταλκ της εταιρείας περιέχει ίχνη αμιάντου και σχετίζεται με περιπτώσεις καρκίνου. Δικαστής στο New Jersey επέτρεψε την συνέχιση των δικών για τις αγωγές, με περιορισμούς ως προς τις καταθέσεις ειδικών μαρτύρων. Η εταιρία διαβεβαιώνει πως οι εξετάσεις που πραγματοποιήθηκαν από ανεξάρτητες εξετάσεις δεν εντόπισαν αμίαντο, παρόλα αυτά έχουν επιδικαστεί αποζημιώσεις, όπως τα $ 20 εκατομμύρια σε ενάγουσα στην California. Η εταιρεία, αναγνωρίζοντας τους ενδεχόμενους κινδύνους, σημειώνει πως, σύμφωνα με την αξιολόγηση των μέχρι στιγμής δεδομένων και σε συνεργασία με νομικούς της συμβούλους, δεν αναμένεται ουσιώδης αρνητική επίδραση από τις αγωγές στη συνολική χρηματοοικονομική της θέση. Όμως, η πιθανή επίλυση αυτών των δικαστικών εκκρεμοτήτων ή η πιθανή αύξηση μελλοντικών προβλέψεων ώστε παρόμοια συμβάντα να μην επαναληφθούν, ενδέχεται να επηρεάσει αρνητικά τα αποτελέσματα χρήσης και τις ταμειακές ροές σε μεμονωμένες περιόδους. Παρά τις προκλήσεις, σε λειτουργικό επίπεδο, η Johnson & Johnson κατέγραψε αύξηση πωλήσεων κατά 3,3% το πρώτο τρίμηνο του 2020, με τα συνολικά έσοδα να ανέρχονται στα $ 20,7 δισεκατομμύρια. Η λειτουργική ανάπτυξη άγγιξε το 4,8% συγκριτικά με την αντίστοιχη περίοδο του 2019. Η ανοδική δυναμική της εταιρίας επηρεάστηκε από τις αρνητικές συναλλαγματικές διακυμάνσεις και την πανδημία COVID-19.

Question:
What trends can be observed in the company’s revenue amount over the past few years? Please quote the piece(s) of news aligned with the finding(s), if any.

Answer:

Question: What trends can be observed in the company’s revenue amount over the past few years? Please quote the piece(s) of news aligned with the finding(s), if any.

Johnson & Johnson reported a year-over-year revenue increase, reaching $20.691 billion compared to $20.021 billion in Q1 2019. This upward trend is supported by strong performance in pharmaceutical and consumer health segments.

News Evidence:
 “强生第一季度销售额为206.91亿美元，去年同期为200.21亿美元，同比增长3.3%。"

Question: How does the company’s balance sheet reflect its financial health in terms of total amount of current assets and the ratio of total liability divided by total equity? Please provide only the final result(s); do not include any calculation steps. Please quote the piece(s) of news aligned with the finding(s), if any.

Johnson & Johnson reported total current assets of $44.23 billion. Its liability-to-equity ratio was approximately 0.83, indicating a strong balance sheet with more equity than liabilities.

News Evidence: None

Question: Are there any significant changes or irregularities in the amount of operating, investing and financing cash flow? Please quote the piece(s) of news aligned with the finding(s), if any.

Johnson & Johnson reported operating cash flow of $5,231 million, investing cash outflows of $1,578 million, and financing cash outflows of $2,814 million. While there are no irregularities reported, the company adjusted its full-year outlook due to anticipated COVID-19 impacts, which may influence future cash flow dynamics.

News Evidence:
“la compañía ajustó a la baja su previsión de beneficios para todo el año... Esto implica que la división médica continuará experimentando efectos negativos en el corto plazo...”

Question: What is the company's R&D ratio (R&D divided by revenue)? Please provide only the final result(s); do not include any calculation steps. Please quote the piece(s) of news aligned with the finding(s), if any.

The company’s R&D ratio for Q1 2020 is approximately 0.125 ($25.8B/$206.91B).

News Evidence:
None