Johnson & Johnson · NYSE:JNJ
Johnson & Johnson — Investor Day (December 2023)
13 slides from Johnson & Johnson's investor day presentation, Dec 5, 2023
Slide 1: Cautionary Note on Forward-Looking Statements
Cautionary Note on Forward-Looking Statements This presentation contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, and market position and business st
Slide 2: Strategic Partnerships, Collaborations & Licensing Arrangements
Strategic Partnerships, Collaborations & Licensing Arrangements During the course of this presentation, we will discuss a number of products and compounds developed in collaboration with strategic partners or licensed from other companies. The following is an acknowledgement of those relationships:
Slide 3: Strategic Partnerships, Collaborations & Licensing Arrangements
Strategic Partnerships, Collaborations & Licensing Arrangements During the course of this presentation, we will discuss a number of products and compounds developed in collaboration with strategic partners or licensed from other companies. The following is an acknowledgement of those relationships:
Slide 4: Financials & Capital Allocation
Financials & Capital Allocation Joseph Wolk Executive Vice President, Chief Financial Officer 4
Slide 5: Delivering strong 2023 results…
Financial outlook Delivering strong 2023 results… 2023 estimates Laminar Inc. acquisition impact Adjusted operational sales N/A growth1 7.2%-7.7% (excl. COVID vaccine) Adjusted pre-tax operating Flat to 2022 levels ~50 bps dilution margin3,4 (incl. IPR&D impact) $9.85-$9.91 Adjusted Operational EPS2
Slide 6: …and well positioned to deliver strong 2024 results
Financial outlook …and well positioned to deliver strong 2024 results 2024 estimates Laminar Inc. acquisition impact Operational sales growth1 5.0%-6.0% N/A (excl. COVID vaccine) Adjusted pre-tax operating Flat to 2023 levels ~50 bps dilution margin3,4 (incl. IPR&D impact) $10.55-$10.75 Adjusted Ope
Slide 7: Multiple catalysts to sustain long-term growth
Multiple catalysts MedTech to sustain 5-7% operational sales growth1 in the upper range of our markets long-term WAMGR 2022-20272 growth Advancing innovation to drive growth through: Differentiated pipeline Continued global expansion Operational resilience 1. Non-GAAP measure; excludes the impact of
Slide 8: Multiple catalysts to accelerate long-term growth
Multiple catalysts to accelerate long-term growth Innovative Medicine Robust portfolio & pipeline to drive growth 5-7% In-market portfolio will deliver our $57B1 target in 2025 CAGR1,2 In the second half of the decade, we will deliver: CAGR1,2 of 5–7% Patent Key Recent Novel 10+ assets with $5B+ PYS
Slide 9: 2027 At-A-Glance
2027 At-A-Glance Potential sales of select Innovative Medicine assets vs. current market estimates1 In-market brands Current 2027 market estimates Our internal forecast vs. & novel therapies for specific product sales1 current 2027 market estimates1 ~$0.7B + lazertinib ~$1.3B 2x higher ~$1.6B TARIS
Slide 10: Delivering long-term operational sales growth
Enterprise Delivering 2025 long-term operational >3% operational the first year of the STELARA biosimilar entry in the US sales growth sales growth1,2 2025-2030 5-7% operational despite expected STELARA biosimilar entrants, which is sales CAGR1,3 approximately a 200 basis point headwind 1. Represent
Slide 11: Enhancing free cash flow generation
Enhancing free cash flow 1 generation FCF slightly below historical average due to… Drivers of FCF expansion Inflation & supply chain disruptions Abatement of COVID-related headwinds (COVID-related) One-time items (e.g., TCJA liabilities, Sunsetting of one-time items legal settlements) (e.g., TCJA l
Slide 12: Balanced & disciplined Capital Allocation
Balanced & disciplined Higher priority Capital Allocation Capital Allocation strategy Organic growth business needs Free cash flow1 Competitive dividends Investment in M&A Lower Share repurchases priority Priorities are clear and remain unchanged 1. Cash flow from operating activities less additions
Slide 13: Strongly positioned to deliver long-term shareholder value
Strongly positioned to deliver long-term shareholder value Key financial targets Key drivers 5-7% Total enterprise Innovative Medicine MedTech is expected to Continued acceleration of our in-market portfolios operational operational grow operational sales in sales CAGR1,2 sales CAGR1,2 the upper ran