VEXIM to be Acquired by Stryker Corporation

Posted On October 24, 2017 By OrthoSpineNews In Financial, Spine, Top Stories /

October 24, 2017

BALMA, France–(BUSINESS WIRE)–Regulatory News:

Stryker Corporation, a global leading medical technology company, acquired on October 24^th, 2017 a majority of the share capital and voting rights of VEXIM, a medical device company specializing in the minimally invasive treatment of vertebral fractures listed on Euronext Growth (FR0011072602 – ALVXM).

Stryker Corporation (NYSE:SYK) has indirectly acquired 4,115,151 VEXIM shares, representing 50.7% of the share capital and 50.3% of the voting rights of the Company for a cash price of EUR 20.00 per share, and 170,745 listed warrants (“BSAAR”), representing 37.1% of outstanding BSAARs for a cash price of EUR 3.91 per BSAAR. The selling shareholders comprised funds managed by Truffle Capital, Bpifrance and Kreaxi, as well as managers of VEXIM.

The purchase price of EUR 20.00 per share represents a premium of 29.4% to the closing share price on October 23^rd, 2017 of EUR 15.46, and of 34.4% and 57.6% to the volume-weighted average share prices over 6 months and 12 months, respectively (EUR 14.89 and EUR 12.69). This price represents an aggregated equity value of VEXIM on a fully diluted basis of approximatively EUR 183 million, which corresponds to an enterprise value of approximatively EUR 162 million.

“We are really excited by this transaction and enthusiastic about our future integration into Stryker’s Interventional Spine business, which we view as highly complementary to VEXIM. Stryker will significantly help us achieve our objective to become a global spine trauma leader, through consolidation of our European presence and expansion of our international footprint. We will benefit from Stryker’s broad customer base and commercial platform in back trauma surgery, enabling further acceleration in the adoption of the SpineJack® technology. Stryker is the ideal partner to lay the ground for VEXIM business on the promising US market. VEXIM’s US FDA trial is progressing well and is in line with a 510(k) filing in 2018. This landmark transaction is the recognition of our outstanding sales growth over the past five years, with net sales CAGR of 73% between 2011 and 2016, and of the strong implication and expertize of all of VEXIM employees. For the first 9 months of 2017, sales performance continued to be robust. VEXIM generated €5.4m in revenue in Q3 and we still expect a strong performance in Q4. We are reiterating our objective to reach full-year profitability on the back of a FY 2017 sales growth which remains very significant at 25%. This transaction is really beneficial to all VEXIM stakeholders: our customers, employees and shareholders. As VEXIM enters its next chapter of growth as part of Stryker Corporation, I would like to warmly thank our reference shareholders Truffle Capital, which co-founded the Company, Bpifrance and Kreaxi, all of which steadily supported VEXIM over the years,“ said Vincent Gardès, VEXIM’s CEO.

“This transaction further illustrates the power of medtech radical innovation in France,” added Philippe Pouletty, MD, CEO of Truffle Capital.

As required by applicable regulations, Stryker France MM Holdings SAS, an indirect wholly-owned French subsidiary of Stryker Corporation, will file on October 25^th, 2017 a simplified all-cash tender offer (OPA simplifiée) with the Autorité des Marchés Financiers(AMF) for all VEXIM shares and BSAARs it does not already own, at the same prices per share and per BSAAR as the prices paid for the controlling blocks (the “Offer”). Following the Offer, Stryker intends to pursue a squeeze-out (retrait obligatoire) if the appropriate ownership thresholds are reached at the closing of the Offer.

The Board of Directors of VEXIM has unanimously and unreservedly approved the Offer which it considers being in the best interest of the Company, its shareholders, employees and stakeholders and recommends that all shareholders and holders of BSAAR tender their securities to the Offer.

In accordance with applicable regulations, VEXIM will file a draft response note (projet de note en réponse) which will include the reasoned opinion of the Board of Directors and the report of Associés en Finance, the independent expert appointed by VEXIM in accordance with AMF General Regulation (articles 261-1 I and II) opining on the fairness of the financial terms and conditions of the simplified tender offer and potential squeeze-out. The transaction is expected to close in the fourth quarter of 2017.

Documentation relating to the Offer will be available on the websites of the AMF (www.amf-france.org) and the Investor Relations page of VEXIM’s website (www.vexim.com).

Goldman Sachs acted as financial advisor and Dechert LLP acted as legal advisor to VEXIM on this transaction. BNP Paribas is acting as financial advisor and presenting bank and Skadden, Arps, Slate, Meagher & Flom LLP is acting as outside legal counsel to Stryker.

Update on the US FDA trial:

The VEXIM FDA trial (European, prospective and randomized multicenter study aiming to compare safety and efficacy of the SpineJack® vs balloon kyphoplasty) is intended to provide clinical data to support a 510(k) submission in the US. The FDA trial is progressing well and is in line with a 510(k) filing in 2018.

About VEXIM, the innovative back microsurgery specialist

Based in Balma, near Toulouse (France), VEXIM is a medical device company created in February 2006. The Company has specialized in the creation and marketing of minimally invasive solutions for treating traumatic spinal pathologies. VEXIM has designed and developed the SpineJack®, a unique implant capable of repairing a fractured vertebra and restoring the balance of the spinal column. The company also developed the Masterflow^TM, an innovative solution for mixing and injecting orthopedic cement that enhances the accuracy of the injection and optimizes the overall surgical procedure. VEXIM has been listed on Euronext Growth Paris since May 3^rd2012. For further information, please visit www.vexim.com

SpineJack®, an innovative implant for treating Vertebral Compression Fractures

The SpineJack® is designed to restore a fractured vertebra to its original shape, restore the spinal column’s optimal anatomy and thus remove pain and enable the patient to recover their functional capabilities. Thanks to a specialized range of instruments, inserting the implants into the vertebra is carried out by minimally invasive surgery, guided by X-ray, in approximately 30 minutes, which is intended to enable the patient to be discharged shortly after surgery. The SpineJack® range consists of 3 titanium implants with 3 different diameters, thus covering 95% of vertebral compression fractures and all patient morphologies. SpineJack® technology benefits from the support of international scientific experts in the field of spine surgery and worldwide patent protection through to 2029.

About STRYKER

Stryker is one of the world’s leading medical technology companies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. More information is available at www.stryker.com.

Contacts

VEXIM
Vincent Gardès, CEO
José Da Gloria, Chief Financial Officer
investisseur@vexim.com
Tél. : +33 5 61 48 48 38
or
PRESS RELATIONS
ALIZE RP
Caroline Carmagnol / Wendy Rigal
vexim@alizerp.com
Tél. : +33 1 44 54 36 66
Tél. : +33 6 48 82 18 94

Mazor Robotics to Report Third Quarter Financial Results on November 7, 2017

Posted On October 24, 2017 By OrthoSpineNews In Financial /

Oct. 24, 2017

CAESAREA, Israel–(BUSINESS WIRE)– Mazor Robotics Ltd. (TASE: MZOR; NASDAQGM: MZOR), a pioneer and a leader in the field of surgical robotic guidance systems, announced today that it will report financial results for the third quarter ended September 30, 2017, before the U.S. markets open on Tuesday, November 7, 2017.

The company will host a conference call to discuss these results on Tuesday, November 7, 2017, at 8:30 AM ET (3:30 PM IST). Investors within the United States interested in participating are invited to call 800-298-0498. Participants in Israel can use the toll-free dial-in number 1 80 924 6042. All other international participants can use the dial-in number 719-457-2654. For all callers, refer to Conference ID 5718138.

A replay of the event will be available for two weeks following the conclusion of the call. To access the replay, callers in the United States can call 1-866-375-1919 and reference the Replay Access Code: 5718138. All international callers can dial +1 719-457-0820, using the same Replay Access Code. To access the webcast, please visit www.mazorrobotics.com and select ‘Investor Relations.’

About Mazor

Mazor Robotics (TASE: MZOR; NASDAQGM: MZOR) believes in healing through innovation by developing and introducing revolutionary robotic technologies and products aimed at redefining the gold standard of quality care. Mazor Robotics Guidance Systems enable surgeons to conduct spine and brain procedures in a precise manner. For more information, please visit http://www.MazorRobotics.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171024005310/en/

Contacts

EVC Group
Investors
Michael Polyviou, 212-850-6020
mpolyviou@evcgroup.com
or
Doug Sherk, 415-652-9100
dsherk@evcgroup.com

Source: Mazor Robotics Ltd.

TransEnterix Schedules Third Quarter 2017 Financial and Operating Results Conference Call for November 9, 2017

Posted On October 23, 2017 By OrthoSpineNews In Financial /

October 23, 2017

RESEARCH TRIANGLE PARK, N.C.–(BUSINESS WIRE)–TransEnterix, Inc. (NYSE American:TRXC) announced today that it plans to release third quarter 2017 financial and operating results after the market closes on Thursday, November 9, 2017. Todd M. Pope, President and Chief Executive Officer, and Joseph P. Slattery, Executive Vice President and Chief Financial Officer will host a conference call to discuss these results starting at 4:30 pm Eastern Time the same day. The call will be concurrently webcast.

To listen to the conference call on your telephone, please dial (844) 804-5261 for domestic callers and (612) 979-9885 for international callers, and reference conference ID 8898746 approximately ten minutes prior to the start time. To access the live audio webcast or archived recording, use the following link http://ir.transenterix.com/events.cfm. The replay will be available on the Company’s website.

About TransEnterix

TransEnterix is a medical device company that is pioneering the use of robotics to improve minimally invasive surgery by addressing the clinical and economic challenges associated with current laparoscopic and robotic options. The Company is focused on the commercialization of the Senhance™ Surgical Robotic System, a multi-port robotic system that brings the advantages of robotic surgery to patients while enabling surgeons with innovative technology such as haptic feedback and eye sensing camera control. The Company also developed the SurgiBot™ System, a single-port, robotically enhanced laparoscopic surgical platform. The Senhance Surgical Robotic System has received FDA 510(k) clearance and has been granted a CE Mark. For more information, visit the TransEnterix website at www.transenterix.com.

Contacts

For TransEnterix, Inc.
Investors:
Mark Klausner, +1-443-213-0501
invest@transenterix.com
or
Media:
Joanna RIce, +1-951-751-1858
joanna@greymattermarketing.com

Exactech Enters Definitive Agreement with TPG Capital to Go Private

Posted On October 23, 2017 By OrthoSpineNews In Financial, Top Stories /

October 23, 2017

GAINESVILLE, Fla.–(BUSINESS WIRE)–Exactech (Nasdaq: EXAC), a leading developer and producer of orthopaedic implant devices and surgical instrumentation for extremities and large joints, today announced that it has entered into a definitive merger agreement under which TPG Capital, the global private equity platform of alternative asset firm TPG, will acquire all of the outstanding shares of Exactech common stock. Exactech’s board of directors approved the agreement which provides for the payment of $42.00 per share in cash to all holders of Exactech common stock other than certain management stockholders who have agreed to exchange a portion of their shares for new equity securities in the transaction. Exactech founders Dr. Bill Petty and Betty Petty and CEO David Petty have agreed with TPG to vote all of their shares in favor of the merger and to exchange a significant portion of their shares for new shares in the parent entity immediately following the merger. Such share exchange will be made at the same $42.00 value being paid in cash to Exactech’s shareholders. The transaction values Exactech at $625 million and the cash purchase price represents a premium of approximately 31% over Exactech’s closing stock price on October 20, 2017.

Upon completion of the transaction, Exactech will be a privately-held company headquartered in Gainesville, Florida, and Exactech’s common shares will no longer be listed on the NASDAQ stock exchange. The transaction is expected to close in the first quarter of 2018, subject to customary closing conditions, including approval by Exactech’s shareholders and termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

“We believe that this agreement offers Exactech shareholders an opportunity to realize the company’s tremendous growth and capture the value that’s been created since going public 21 years ago, at a significant premium to the current share price,” said Jim Binch, Exactech’s lead independent director.

Exactech CEO David Petty added, “This agreement provides maximum value for our shareholders, who have shared our vision and supported our growth over the past two decades.”

Exactech was founded in 1985 by orthopaedic surgeon Dr. Bill Petty, his wife Betty and biomedical engineer Gary Miller, PhD, with the purpose of improving the quality of care for patients suffering from joint injury or disease, such as arthritis. The company employs more than 700 individuals including engineers, researchers, manufacturing professionals, and sales representatives, and distributes its products to more than 35 countries around the world.

“As long-term healthcare investors, we aim to identify and partner with strong companies that are in growing, attractive sectors,” said Todd Sisitsky, Managing Partner at TPG Capital. “With their strong commitment to patients and surgeons and a comprehensive product portfolio, Exactech has strategically built a platform poised for significant growth. We are thrilled to partner with CEO David Petty, the company founders, the Exactech management team and TPG Capital advisors Jeff Binder and Dan Hann to further realize Exactech’s exciting potential.”

“The basis of our investment thesis is that there are outstanding opportunities for nimble, innovative and responsive companies to invest in growth and compete with the larger competitors in the orthopaedic industry,” said Jeff Binder, Senior Advisor to TPG Capital. “I look forward to working with management to fully realize the potential of a company for which I have always had great respect.”

Over the past 10 years, TPG Capital has invested more than $8 billion in healthcare. Taking a growth-oriented approach to its partnerships, the platform has invested in companies across the entire healthcare continuum, including medical devices companies such as Biomet, Fenwal, Beaver-Visitec International and Immucor; global healthcare providers such as Surgical Care Affiliates, Healthscope and Parkway; pharmaceutical companies such as Par Pharmaceutical and Adare; and healthcare IT companies such as QuintilesIMS and Mediware.

Advisors

J.P. Morgan Securities LLC is acting as the financial advisor to Exactech. Greenberg Traurig, P.A. (Miami) and Greenberg Traurig, LLP (NYC) are serving as Exactech’s legal advisor. Ropes & Gray is acting as legal advisor to TPG Capital.

About Exactech

Based in Gainesville, Fla., Exactech develops and markets orthopaedic implant devices, related surgical instruments and biologic materials and services to hospitals and physicians. The company manufactures many of its orthopaedic devices at its Gainesville facility. Exactech’s orthopaedic products are used in the restoration of bones and joints that have deteriorated as a result of injury or diseases such as arthritis. Exactech markets its products in the United States, in addition to more than 30 markets in Europe, Latin America, Asia and the Pacific. Additional information about Exactech can be found at http://www.exac.com.

About TPG

TPG is a leading global alternative asset firm founded in 1992 with more than $73 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements regarding Exactech’s proposed business combination transaction with TPG Capital, all statements regarding Exactech’s expected future financial position, results of operations, cash flows, dividends, financing plans, business strategy, budgets, capital expenditures, competitive positions, growth opportunities, plans and objectives of management, and statements containing the words such as “anticipate,” “approximate,” “believe,” “plan,” “estimate,” “expect,” “project,” “could,” “would,” “should,” “will,” “intend,” “may,” “potential,” “upside,” and other similar expressions. All Statements in this press release that are not historical facts, are forward-looking statements that reflect the best judgment of Exactech based upon currently available information.

Such forward-looking statements are inherently uncertain, and shareholders and other potential investors must recognize that actual results may differ materially from Exactech’s expectations as a result of a variety of factors, including, without limitation, those discussed below. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties and other factors, many of which Exactech is unable to predict or control, that may cause its actual results, performance or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. These statements involve risks, uncertainties and other factors discussed below and detailed from time to time in Exactech’s filings with the Securities and Exchange Commission (the “SEC”).

Risks and uncertainties related to the proposed merger include, but are not limited to, the risk that Exactech’s shareholders do not approve the merger, potential adverse reactions or changes to business relationships resulting from the announcement or completion of the merger, uncertainties as to the timing of the merger, adverse effects on Exactech’s stock price resulting from the announcement of the merger or the failure of the merger to be completed, competitive responses to the announcement of the merger, the risk that regulatory, licensure or other approvals required for the consummation of the merger are not obtained or are obtained subject to terms and conditions that are not anticipated, litigation relating to the merger, the inability to retain key personnel, and any changes in general economic and/or industry-specific conditions.

In addition to the factors set forth above, other factors that may affect Exactech’s plans, results or stock price are set forth in its most recent Annual Report on Form 10-K and in its subsequently filed reports on Forms 10-Q and 8-K.

Many of these factors are beyond Exactech’s control. Exactech cautions investors that any forward-looking statements made by it are not guarantees of future performance. Exactech disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements to reflect future events or developments.

Additional Information and Where to Find It

The Company will furnish to the SEC a report on Form 8-K regarding the proposed transaction described in this announcement, which will include the merger agreement. All parties desiring details regarding the merger are urged to review these documents, which will be available at the SEC’s website (http://www.sec.gov).

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. This communication may be deemed to be solicitation material in respect of the proposed merger. In connection with the merger, the Company will prepare and mail a proxy statement to its shareholders. In addition, certain participants in the merger will prepare and file with the SEC a Schedule 13E-3 transaction statement. These documents will be filed with or furnished to the SEC. Investors and shareholders are urged to read carefully and in their entirety these materials and other materials filed with or furnished to the SEC when they become available, as they will contain important information about the Company, the merger and related matters. In addition to receiving the proxy statement by mail, shareholders also will be able to obtain these documents, as well as other filings containing information about the Company, the merger and related matters, without charge, from the SEC’s website (http://www.sec.gov). In addition, these documents can be obtained, without charge, by sending an e-mail to investors@exac.com, along with complete contact details and a mailing address.

Participants in Solicitation

The Company and certain of its directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be “participants” in the solicitation of proxies from shareholders with respect to the merger. Information regarding the persons or entities who may be considered “participants” in the solicitation of proxies will be set forth in the proxy statement and Schedule 13E-3 transaction statement relating to the merger when it is filed with the SEC. Information regarding the directors and executive officers of the Company is set forth in the proxy statement for the Company’s 2017 Annual Meeting of Shareholders, which was filed with the SEC on March 24, 2017. Additional information regarding the interests of such potential participants will be included in the proxy statement and Schedule 13E-3 transaction statement and the other relevant documents filed with the SEC when they become available.

Contacts

Exactech
Investor Contact:
Jody Phillips, 352-377-1140
Executive Vice President of Finance & Chief Financial Officer
or
Media Contact:
TPG
Luke Barrett, 415-743-1550
media@tpg.com
or
Exactech
Priscilla Bennett, 352-377-1140
Priscilla@exac.com

Smith & Nephew to Buy Rotation Medical for Up to $210 Million

Posted On October 23, 2017 By OrthoSpineNews In Financial, Top Stories /

By REUTERS/OCT. 23, 2017

LONDON — Medical technology group Smith & Nephew, which some investors believe should streamline operations to make itself a more attractive takeover target, said on Monday it was buying a U.S. sports injury business for up to $210 million (£159 million).

The British company, best known for its replacement hips and knees, will pay an initial $125 million to acquire unlisted Minnesota-based Rotation Medical, plus up to $85 million over the next five years if certain financial targets are hit.

S&N said the deal, which is expected to close late this year, would be neutral for earnings in 2018 and boost them in 2019.

Rotation has developed a novel tissue regeneration technology for shoulder rotator cuff repair that is already cleared for sale in the United States. A filing is being prepared for approval in Europe.

READ THE REST HERE

Misonix Enters into $11 Million License, Royalty and Manufacturing Agreement

Posted On October 20, 2017 By OrthoSpineNews In Financial, Top Stories /

FARMINGDALE, N.Y., Oct. 20, 2017 (GLOBE NEWSWIRE) — Misonix, Inc. (Nasdaq:MSON), a provider of minimally invasive therapeutic ultrasonic medical devices that enhance clinical outcomes, announced today that it has entered into a license and exclusive manufacturing agreement with Hunan Xing Hang Rui Kang Bio-Technologies Co., Ltd., a Chinese corporation, under which Misonix has licensed certain manufacturing and distribution rights to its SonaStar product line in The People’s Republic of China (“PRC”), Hong Kong and Macau in exchange for payments totaling a minimum of $11 million.

The agreement calls for (i) upfront technology license fees and stocking orders of $5 million; (ii) minimum royalty payments from the sale of SonaStar products in the licensed territories of $2 million per calendar year in each of 2019, 2020, and 2021 and (iii) additional royalty payments based on product sales through August 2027. The Agreement also provides that Misonix will supply SonaStar products to Hunan Xing Hang Rui Kang Bio-Technologies Co., Ltd. at agreed prices during the transition period prior to their commencement of manufacturing, and provides for reimbursement of technology transfer costs to Misonix of up to $1 million.

Stavros Vizirgianakis, President and Chief Executive Officer of Misonix, said, “We look forward to working with the team at Hunan Xing Hang Rui Kang Bio-Technologies Co. to establish our SonaStar technology throughout The People’s Republic of China, Hong Kong and Macau. We will be focused on assisting them to effectively and efficiently manufacture the SonaStar product line once they complete the required manufacturing facilities. In the meantime, we will supply them the product they need to begin to establish the SonaStar product line in these important and fast-growing markets. This is an important technology that will result in better patient outcomes with cost-effective treatment modalities.”

Quan Li, Chairman of Hunan Xing Hang Rui Kang Bio-technologies Co., Ltd., said, “Working with Misonix represents a unique opportunity to add an important technology to our suite of products. SonaStar is an advanced technology engineered to provide powerful and precise ultrasonic aspiration with maximum control and ease-of-use. We are dedicated to bring these important benefits to our markets in The People’s Republic of China, Hong Kong and Macau.”

“We are extremely excited to be partnering with the team at Hunan Xing Hang Rui Kang Bio-Technologies Company to bring our SonaStar technology to The People Republic of China,” added Scott Ludecker, Senior Vice President of Sales and Marketing with Misonix. “Both organizations share a common commitment to improving the lives of patients with our therapeutic ultrasonic surgical technology.”

About Misonix
Misonix, Inc. designs, develops, manufactures and markets therapeutic ultrasonic medical devices. Misonix’s therapeutic ultrasonic platform is the basis for several innovative medical technologies. Addressing a combined market estimated in excess of $1.5 billion annually; Misonix’s proprietary ultrasonic medical devices are used in spine surgery, neurosurgery, orthopedic surgery, wound debridement, cosmetic surgery, laparoscopic surgery, and other surgical and medical applications. Additional information is available on the Company’s website at www.misonix.com.

Safe Harbor Statement
With the exception of historical information contained in this press release, content herein may contain “forward looking statements” that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include general economic conditions, delays and risks associated with the performance of contracts, risks associated with international sales and currency fluctuations, uncertainties as a result of research and development, acceptable results from clinical studies, including publication of results and patient/procedure data with varying levels of statistical relevancy, risks involved in introducing and marketing new products, potential acquisitions, consumer and industry acceptance, litigation and/or court proceedings, including the timing and monetary requirements of such activities, the timing of finding strategic partners and implementing such relationships, regulatory risks including approval of pending and/or contemplated 510(k) filings, the ability to achieve and maintain profitability in the Company’s business lines, the impact of the pending investigation by the Department of Justice and Securities Exchange Commission, and other factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2017, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company disclaims any obligation to update its forward-looking statements.

Corporate Contact
Joe Dwyer
Misonix, Inc.
631-927-9113
jdwyer@misonix.com

Investor Contact
Joe Diaz
Lytham Partners
602-889-9700
mson@lythampartners.com

Orthofix International Schedules Third Quarter 2017 Earnings Release and Conference Call for October 30, 2017

Posted On October 20, 2017 By OrthoSpineNews In Financial /

October 19, 2017

LEWISVILLE, Texas–(BUSINESS WIRE)–Orthofix International N.V. (NASDAQ:OFIX), a diversified, global medical device company, today announced that it plans to release financial results for the third quarter 2017 after market close on Monday, October 30, 2017. Brad Mason, Chief Executive Officer, and Doug Rice, Chief Financial Officer, will host a conference call and webcast to review the Company’s results at 4:30 p.m. ET the same day.

Interested parties may access the conference call by dialing (844) 809-1992 in the U.S. and (612) 979-9886 outside the U.S., and referencing the conference ID 2078866. A replay of the call will be available for two weeks by dialing (855) 859-2056 in the U.S. and (404) 537-3406 outside the U.S., and entering the conference ID 2078866. A webcast of the conference call may be accessed by going to the Company’s website www.orthofix.com by clicking on the Investors link and then the Events and Presentations page.

About Orthofix:

Orthofix International N.V. is a diversified, global medical device company focused on improving patients’ lives by providing superior reconstructive and regenerative orthopedic and spine solutions to physicians worldwide. Headquartered in Lewisville, Texas, the Company has four strategic business units: BioStim, Biologics, Extremity Fixation and Spine Fixation. Orthofix products are widely distributed via the Company’s sales representatives and distributors. In addition, Orthofix is collaborating on research and development activities with leading clinical organizations such as Brown University, Sinai Hospital of Baltimore, Cleveland Clinic, Texas Scottish Rite Hospital for Children, and the Musculoskeletal Transplant Foundation. For more information, please visit www.orthofix.com.

Contacts

Orthofix International N.V.
Investor Contact:
Mark Quick, 214-937-2924
markquick@orthofix.com
or
Media Contact:
Denise Landry, 214-937-2529
deniselandry@orthofix.com

Amplitude Surgical – 2016/17 Annual Results

Posted On October 19, 2017 By OrthoSpineNews In Financial /

October 18, 2017

VALENCE, France–(BUSINESS WIRE)–Regulatory News:

Amplitude Surgical (Paris:AMPLI) (ISIN: FR0012789667, Ticker: AMPLI, PEA-PME eligible), a leading French player on the global surgical technology market for lower-limb orthopedics, today announces its annual results for the 2016-17 financial year to June 30, 2017.

Olivier Jallabert, Chairman and CEO of Amplitude Surgical, says: “20 years after Amplitude Surgical was founded, 2016-17 was another year with many key events and strong growth, with sales exceeding €90 million and an EBITDA margin of almost 17%. These results reflect the successful implementation of our development strategy, which is based on state-of-the-art R&D, major investments and staff eager to open up new markets and introduce new equipment to support medical practitioners and their patients. Beyond these solid foundations, the potential of the United States – the world’s largest market on which we are developing fast – and an innovative product portfolio that is continuously being enhanced will drive our growth, with our target of doubling the Group’s sales in 5 years to June 2021 reiterated.”

Key 2016/17 events

At product level, Amplitude Surgical achieved the following:

in early March 2017, it obtained the CE Mark for the use in consultation of Kneemap®, a device for measuring knee kinematics to help surgeons assess all knee movements and refine their diagnosis and therapeutic strategy;
in early 2017, it received 510(k) regulatory clearance from the FDA (American Food and Drug Administration) for its Anatomic® posterior-stabilized knee prosthesis. After Europe in February 2013, Australia in August 2015 and South Africa in early 2016, this clearance provides access to the world’s largest lower-limb prosthetic reconstruction market. In the United States, this approval follows that obtained in late 2014 – early 2015 by the Novastep range for lower-limb (foot and ankle) surgery;
at the end of 2016, it obtained the CE Mark for its new ACLip® product, a fixation implant for anterior cruciate knee ligament transplants that provides surgeons with simplicity and replicability and rigid fixation that favors transplants in patients. After hips, knees and lower limbs, Amplitude Surgical’s offering thus now covers one of the most frequent knee pathologies and opens up this major market to the Group. The first transplants, over 600, undertaken in France during the final quarter of 2016-17 financial year bode well for the launch at the next SFA – French Society of Arthroscopy congress early December 2017.

At Group level, Amplitude Surgical carried out the following:

in February 2017, it settled the case pertaining to the acquisition of the remaining minority interests in Australia via a transactional agreement with Austofix, a minority shareholder in its Amplitude Australia Pty subsidiary. This agreement enabled the acquisition of the remaining 25% stake in this subsidiary and the payment of €8.8 million settlement compensation;
at the end of 2016, it finalized a €65 million bond issue, providing the Group with €30 million to continue its international development and €35 million towards the early repayment of its previous debt;
in mid-December 2016, it announced the acquisition of a 50% stake in SOFAB Orthopédie, a longstanding strategic industrial subcontractor. This transaction will provide a net positive contribution from 2017-18;
in July 2016, it finalized the acquisition of the remaining minority interests (40%) in its Brazilian subsidiary, Amplitude Latam, for €4.1 million.

Moreover, in France, Amplitude Surgical has recently signed Memoranda of Understanding with a view to acquiring two companies responsible for the direct management of key French regions, in the east of the country and the Paris region, thus intensifying its commercial presence on the domestic market.

Financial summary – (actual currency):

€ thousands – IFRS	2016-17	2015-16	Δ
Sales	93,356	80,788	+15.6%
Gross margin	70,519	62,213	+13.3%
as a % of sales	75.6%	77.0%
Sales & Marketing costs	38,626	32,115	+20.3%
General & Administrative costs	9,321	9,297	–
R&D costs	7,072	7,327	‐3.5%
EBITDA	15,500	13,473	+15.0%
as a % of sales	16.6%	16.7%
Core Operating Profit	17	3,477
Non-core operating expenses	1,064	11,736
Operating Profit/Loss	-1,046	-8,259
Financial profit/Loss	-8,510	5,352
Attributable Net Profit/Loss	-12,314	-174
Net financial debt	80,043	49,540
Net cash position	41,610	32,071

Improvement in the operating expenses / sales ratio; EBITDA margin of 17.6% excluding costs associated with the launch of the Japanese subsidiary

On the basis of annual sales of €93.3 million, up 15.6% in actual terms and 13.8% at constant currency, Amplitude Surgical recorded a gross margin of 75.6%, a decrease compared with 2015-16 mainly due to the distributor margin affected by the putting in place of substantial volumes of instruments.

The Group’s operating costs totaled €55.0 million, up 12.9%, with an improvement in the operating expenses / sales ratio of more than 150 bp, while EBITDA came to €15.5 million, up 15% compared with 2015-16. The EBITDA margin remained stable at a high level of close to 17%. Excluding the costs associated with the launch of the new Japanese subsidiary, i.e. €906 thousand, Amplitude Surgical recorded EBITDA of €16.4 million, up 21.5%, and a margin of 17.6%.

These changes reflect the human and commercial investments maintained by the Group in order to develop new territories and continue to increase its market share. At June 30, 2017, Amplitude Surgical had a workforce of 368 staff, of which 64 for SOFAB Orthopédie, vs. 297 at the end of June 2016. Moreover, the Group stabilized its R&D investments at more than €7 million, or 7.6% of sales.

The Core Operating Loss includes an increase in non-recurring provisions on inventory depreciations and legal disputes of €2.5 million. The Operating Loss was €1.0 million, compared with a loss of €8.3 million in 2015-16, as a result of:

the writing down, at June 30, 2017, of an additional provision of €2.6 million relating to the dispute with URSSAF (social security contribution collection authority) regarding tax on medical devices inherent to 2016-17 activity;
the settlement of the dispute with the Australian subsidiary’s minority shareholders, which resulted in a non-recurring profit of €1.5 million.

There was a financial loss of €8.5 million, which reflects the strengthening of the financial debt, but includes a €1.2 million non-recurring expense associated with the early repayment of a portion of the Group’s debt and a -€0.4 million currency impact essentially associated with the strengthening of the euro. The income tax level is a result of the tax rate on loss carryforwards being adjusted to 28%, contributing to a one-off expense of €2.3 million. The net loss was €12.3 million, including €7.2 million in non-recurring expenses and income, giving a core net loss of €5.1 million.

Substantial investments, notably in industrial and logistical integration

Over the 2016-17 financial year, Amplitude Surgical continued to implement an investment policy aimed at consolidating the foundations of its future growth, notably with:

a new logistic building for €4.0 million and a cutting-edge clean room for €2.5 million;
a 50% stake in SOFAB Orthopédie, an historical subcontractor, for €3.4 million;
the acquisition of the remaining minority interests in its Australian and Brazilian subsidiaries;
the installation, among new clients, of a large quantity of ancillary equipment, booked as tangible capital assets, for €6.3 million in France and €3.9 million abroad.

Reduction in WCR (substantial decrease in the WCR / sales ratio) and net cash of €42 million at end-June 2017

Amplitude Surgical has a solid financial structure, with Cash & Cash Equivalents of €41.6 million at end-June 2017.

The Group has reduced its working capital requirements, recording a working capital surplus of €6.3 million over the year. The WCR / sales ratio has seen a substantial 24-day improvement. Nevertheless, the high level of growth investments (€19.7 million during the year vs. €13.2 million in 2015-16) and the acquisition of the Australian minority interests increased Amplitude Surgical’s net financial debt to €80.0 million at the end of June 2017, vs. €49.5 million at June 30, 2016. The Group’s gearing (Net Financial Debt over Shareholders’ Equity) was thus 0.77, compared with 0.42 at the end of June 2016.

The Annual Financial Report can be found on Amplitude Surgical’s website: www.amplitude-surgical.com/fr/documentationold/documents-de-reference

Next financial press release: Q1 2017-18 sales, on Wednesday November 8, 2017, after market.

About Amplitude Surgical

Founded in 1997 in Valence, France, Amplitude Surgical is a leading French player on the global surgical technology market for lower-limb orthopedics. Amplitude Surgical develops and markets high-end products for orthopedic surgery covering the main disorders affecting the hip, knee and extremities, and notably foot and ankle surgery. Amplitude Surgical develops, in close collaboration with surgeons, numerous high value-added innovations in order to best meet the needs of patients, surgeons and healthcare facilities. A leading player in France, Amplitude Surgical is developing abroad through its subsidiaries and a network of exclusive distributors and agents distributing its products in more than 30 countries. Amplitude Surgical operates on the lower-limb market through the intermediary of its Novastep subsidiaries in France and the United States. At June 30, 2017, Amplitude Surgical had a workforce of nearly 370 employees and recorded sales of over 93 million euros.

Contacts

Amplitude Surgical
Philippe Garcia
CFO
finances@amplitude-surgical.com
+33 (0)4 75 41 87 41
or
NewCap
Investor Relations
Marc Willaume
amplitude@newcap.eu
+33 (0)1 44 71 00 13
or
NewCap
Media Relations
Nicolas Merigeau
amplitude@newcap.eu
+33 (0)1 44 71 98 55

Amedica Receives Positive Nasdaq Listing Decision

Posted On October 18, 2017 By OrthoSpineNews In Financial /

SALT LAKE CITY, Oct. 17, 2017 (GLOBE NEWSWIRE) — Amedica Corporation (Nasdaq: AMDA) (the “Company”), an innovative biomaterial company that develops and manufactures silicon nitride as a platform for biomedical applications, announced today that the Nasdaq Hearings Panel (the “Panel”) has granted the Company’s request for an extension within which to evidence full compliance with the criteria for continued listing on The Nasdaq Capital Market, including the filing requirement and the $1.00 closing bid price requirement. The Company’s continued listing on Nasdaq is subject to the Company filing its Forms 10-Q for the quarterly periods ended March 31, 2017 and June 30, 2017 with the SEC by October 31, 2017, and the Company evidencing a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days by November 30, 2017. The Company expects to timely satisfy the deadlines set forth in the Panel’s decision.

The Company is diligently working to evidence full compliance with all applicable requirements for continued listing on The Nasdaq Capital Market; however, there can be no assurance that the Company will regain compliance with the applicable criteria within the period of time granted by the Panel.

About Amedica Corporation
Amedica is focused on the development and application of medical-grade silicon nitride ceramics. Amedica markets spinal fusion products and is developing a new generation of wear- and corrosion-resistant implant components for hip and knee arthroplasty. The Company manufactures its products in its ISO 13485 certified manufacturing facility and, through its partnership with Kyocera, the world’s largest ceramic manufacturer. Amedica’s spine products are FDA-cleared, CE-marked, and are currently marketed in the U.S. and select markets in Europe and South America through its distributor network and its OEM partnerships.

For more information on Amedica or its silicon nitride material platform, please visit www.amedica.com.

Forward-Looking Statements

This press release contains statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties. For example, there can be no assurance that we will regain compliance with the applicable criteria within the period of time granted by the Panel and that we will be able to maintain our listing on any NASDAQ market. Other factors that could cause actual results to differ materially from those contemplated within this press release can also be found in Amedica’s Risk Factors disclosure in its Annual Report on Form 10-K, filed with the Securities and Exchange Commission (SEC) on September 20, 2017, and in Amedica’s other filings with the SEC. Forward-looking statements contained in this press release speak only as of the date of this press release. We undertake no obligation to update any forward-looking statements as a result of new information, events or circumstances or other factors arising or coming to our attention after the date hereof.

Contact:
Amedica IR 
801-839-3502
IR@amedica.com

Johnson & Johnson Reports 2017 Third-Quarter Results

Posted On October 17, 2017 By OrthoSpineNews In Financial /

NEW BRUNSWICK, N.J., Oct. 17, 2017 /PRNewswire/ — Johnson & Johnson (NYSE: JNJ) today announced sales of $19.7 billion for the third quarter of 2017, an increase of 10.3% as compared to the third quarter of 2016. Operational sales results increased 9.5% and the positive impact of currency was 0.8%. Domestic sales increased 9.7%. International sales increased 10.9%, reflecting operational growth of 9.3% and a positive currency impact of 1.6%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide, domestic and international sales each increased 3.8%.^*

Net earnings and diluted earnings per share for the third quarter of 2017 were $3.8 billion and $1.37, respectively. Third-quarter 2017 net earnings included after-tax intangible amortization expense of approximately $0.9 billion and a charge for after-tax special items of approximately $0.5 billion. Third-quarter 2016 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a charge for after-tax special items of approximately $0.2 billion. Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $5.2 billion and adjusted diluted earnings per share were $1.90, representing increases of 11.2% and 13.1%, respectively, as compared to the same period in 2016.^* On an operational basis, adjusted diluted earnings per share also increased 10.1%.^*A reconciliation of non-GAAP financial measures is included as an accompanying schedule.

“Johnson & Johnson accelerated growth in the third quarter. This is driven by the strong performance of our Pharmaceutical business, and augmented by Actelion and other recent acquisitions across the enterprise that will continue to fuel growth,” said Alex Gorsky, Chairman and Chief Executive Officer. “Our dedicated colleagues continue to focus on advancing our pipelines to bring innovative solutions to patients and consumers around the globe.”

The Company increased its sales guidance for the full-year 2017 to a range of $76.1 billion to $76.5 billion. Additionally, the Company increased its adjusted earnings guidance for full-year 2017 to $7.25 – $7.30 per share.*

Worldwide Consumer sales of $3.4 billion for the third quarter 2017 represented an increase of 2.9% versus the prior year, consisting of an operational increase of 1.6% and a positive impact from currency of 1.3%. Domestic sales decreased 0.5%, international sales increased 5.1%, which reflected an operational increase of 3.0% and a positive currency impact of 2.1%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.1%, domestic sales decreased 0.7% and international sales increased 2.3%^*.

Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by over-the-counter products primarily TYLENOL^®analgesic products and international smoking cessation aids; as well as OGX^® and NEUTROGENA^® beauty products partially offset by the negative impact of domestic baby care products.

During the quarter, the divestiture of COMPEED^®to HRA Pharma was completed.

Worldwide Pharmaceutical sales of $9.7 billion for the third quarter 2017 represented an increase of 15.4% versus the prior year with an operational increase of 14.6% and a positive impact from currency of 0.8%. Domestic sales increased 15.4%; international sales increased 15.5%, which reflected an operational increase of 13.5% and a positive currency impact of 2.0%. Sales included the impact of the first full quarter of the acquisition of Actelion Ltd. which contributed 7.9%, to worldwide operational sales growth. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 6.7%, domestic sales increased 7.7% and international sales increased 5.1%.^*

Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by new products and the strength of core products. Strong growth in new products include DARZALEX^®(daratumumab), for the treatment of patients with multiple myeloma and IMBRUVICA^® (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer. Additional contributors to operational sales growth included STELARA^® (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, XARELTO^®(rivaroxaban), an oral anticoagulant, ZYTIGA^® (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic, castration-resistant prostate cancer and INVEGA^®SUSTENNA^®/XEPLION^®/TRINZA^®(paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults.

During the quarter, the U.S. Food and Drug Administration (FDA) approved an additional indication for IMBRUVICA^®(ibrutinib) for the treatment of adult patients with chronic graft-versus-host-disease after failure of one or more lines of systemic therapy. The European Commission granted approval for SYMTUZA^® (darunavir/cobicistat/ emtricitabine/tenofovir alafenamide) for the treatment of human immunodeficiency virus type 1 (HIV-1) infection in adults and pediatric patients aged 12 years and older.

New Drug Applications were submitted to the FDA for apalutamide, an oral androgen receptor inhibitor for men with non-metastatic castration-resistant prostate cancer and also for darunavir/cobicistat/emtricitabine/tenofovir alafenamide for the treatment of HIV-1 infection in adults and pediatric patients aged 12 years and older. In addition, a supplemental New Drug Application (sNDA) was submitted to the FDA to expand the indication for ZYTIGA^®(abiraterone acetate), in combination with prednisone and ADT to include treatment of patients with high-risk metastatic hormone naïve prostate cancer or newly diagnosed, high-risk metastatic hormone sensitive prostate cancer.

The Company has made a decision not to pursue global approvals of sirukumab for the treatment of moderately to severely active rheumatoid arthritis. In addition, the clinical trial for talacotuzumab, an investigational compound being studied in patients with acute myeloid leukemia, has been discontinued.

Worldwide Medical Devices sales of $6.6 billion for the third quarter 2017 represented an increase of 7.1% versus the prior year consisting of an operational increase of 6.6% and a positive currency impact of 0.5%. Domestic sales increased 4.6%; international sales increased 9.6%, which reflected an operational increase of 8.6% and a positive currency impact of 1.0%. Sales included the impact of the acquisition of Abbott Medical Optics which contributed 5.2%, to worldwide operational sales growth. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.2%, domestic sales decreased 0.8% and international sales increased 3.2%.^*

Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by electrophysiology products in the Cardiovascular business, ACUVUE^® contact lenses in the Vision Care business, and wound closure products in the General Surgery business, partially offset by declines in the Diabetes Care business.

During the quarter, the acquisitions of TearScience, Inc., a manufacturer of products dedicated to treating meibomian gland dysfunction and Sightbox, Inc., an e-commerce company that provides subscription vision care services connecting consumers with eye care professionals for their contact lens needs, were completed.

Subsequent to the quarter, the Company announced the completion of the divestiture of its Codman Neurosurgery business to Integra LifeSciences Holding Corporation.

About Johnson & Johnson

Caring for the world, one person at a time, inspires and unites the people of Johnson & Johnson. We embrace research and science – bringing innovative ideas, products and services to advance the health and well-being of people. Our approximately 134,100 employees at more than 250 Johnson & Johnson operating companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.

^* Operational sales growth excluding the net impact of acquisitions and divestitures, as well as adjusted net earnings, adjusted diluted earnings per share and operational adjusted diluted earnings per share excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investor Relations section of the company’s website at www.investor.jnj.com. Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson’s results computed in accordance with GAAP.

Johnson & Johnson will conduct a conference call with investors to discuss this news release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website at www.investor.jnj.com. A replay and podcast will be available approximately two hours after the live webcast by visiting www.investor.jnj.com.

Copies of the financial schedules accompanying this press release are available at www.investor.jnj.com/historical-sales.cfm. These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including adjusted income before tax by segment, a pharmaceutical pipeline of selected compounds in late stage development and a copy of today’s earnings call presentation can be found on the company’s website at www.investor.jnj.com.

NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS

This press release 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, market position and business strategy. 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 Johnson & Johnson. Risks and uncertainties include, but are not limited to: economic and financial market factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans, including restructuring plans; the impact of business combinations and divestitures, including the Company’s ability to successfully integrate Actelion Ltd.’s products and operations and realize the expected benefits and opportunities of the transaction in the expected time frame or at all; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; increased scrutiny of the health care industry by government agencies; and the potential failure to meet obligations in compliance agreements with government bodies. 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 January 1, 2017, including under “Item 1A. Risk Factors,” its most recently filed Quarterly Report on Form 10-Q, including in the section captioned “Cautionary Note Regarding Forward-Looking Statements,” and the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.investor.jnj.com, or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	THIRD QUARTER						NINE MONTHS
			Percent Change						Percent Change
	2017	2016	Total		Operations	Currency	2017	2016	Total		Operations	Currency
Sales to customers by
segment of business

Consumer
U.S.	$ 1,285	$ 1,291	(0.5)	%	(0.5)	–	$ 4,186	$ 4,033	3.8	%	3.8	–
International	2,071	1,970	5.1		3.0	2.1	5,876	5,842	0.6		0.2	0.4
	3,356	3,261	2.9		1.6	1.3	10,062	9,875	1.9		1.6	0.3

Pharmaceutical
U.S.	5,816	5,042	15.4		15.4	–	15,698	15,123	3.8		3.8	–
International	3,879	3,358	15.5		13.5	2.0	10,877	10,109	7.6		8.4	(0.8)
	9,695	8,400	15.4		14.6	0.8	26,575	25,232	5.3		5.6	(0.3)

Medical Devices
U.S.	3,189	3,048	4.6		4.6	–	9,510	9,118	4.3		4.3	–
International	3,410	3,111	9.6		8.6	1.0	10,108	9,559	5.7		6.3	(0.6)
	6,599	6,159	7.1		6.6	0.5	19,618	18,677	5.0		5.3	(0.3)

U.S.	10,290	9,381	9.7		9.7	–	29,394	28,274	4.0		4.0	–
International	9,360	8,439	10.9		9.3	1.6	26,861	25,510	5.3		5.8	(0.5)
Worldwide	$ 19,650	$ 17,820	10.3	%	9.5	0.8	$ 56,255	$ 53,784	4.6	%	4.8	(0.2)

Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	THIRD QUARTER						NINE MONTHS
			Percent Change						Percent Change
	2017	2016	Total		Operations	Currency	2017	2016	Total		Operations	Currency
Sales to customers by
geographic area

U.S.	$ 10,290	$ 9,381	9.7	%	9.7	–	$ 29,394	$ 28,274	4.0	%	4.0	–

Europe	4,308	3,832	12.4		7.9	4.5	12,398	11,769	5.3		6.2	(0.9)
Western Hemisphere excluding U.S.	1,569	1,396	12.4		10.1	2.3	4,522	4,269	5.9		3.1	2.8
Asia-Pacific, Africa	3,483	3,211	8.5		10.6	(2.1)	9,941	9,472	5.0		6.4	(1.4)
International	9,360	8,439	10.9		9.3	1.6	26,861	25,510	5.3		5.8	(0.5)

Worldwide	$ 19,650	$ 17,820	10.3	%	9.5	0.8	$ 56,255	$ 53,784	4.6	%	4.8	(0.2)

Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings

(Unaudited; in Millions Except Per Share Figures)	THIRD QUARTER

	2017			2016			Percent
			Percent			Percent	Increase
	Amount		to Sales	Amount		to Sales	(Decrease)
Sales to customers	$ 19,650		100.0	$ 17,820		100.0	10.3
Cost of products sold	6,902		35.1	5,486		30.8	25.8
Selling, marketing and administrative expenses	5,396		27.5	4,772		26.8	13.1
Research and development expense	2,574		13.1	2,178		12.2	18.2
Interest (income) expense, net	155		0.8	95		0.5
Other (income) expense, net	(236)		(1.2)	(54)		(0.2)
Restructuring	69		0.3	62		0.3
Earnings before provision for taxes on income	4,790		24.4	5,281		29.6	(9.3)
Provision for taxes on income	1,026		5.2	1,009		5.6	1.7
Net earnings	$ 3,764		19.2	$ 4,272		24.0	(11.9)

Net earnings per share (Diluted)	$ 1.37			$ 1.53			(10.5)

Average shares outstanding (Diluted)	2,737.7			2,785.4

Effective tax rate	21.4	%		19.1	%

Adjusted earnings before provision for taxes and net earnings ⁽¹⁾
Earnings before provision for taxes on income	$ 6,573		33.5	$ 5,831		32.7	12.7
Net earnings	$ 5,208		26.5	$ 4,683		26.3	11.2
Net earnings per share (Diluted)	$ 1.90			$ 1.68			13.1
Effective tax rate	20.8	%		19.7	%

⁽¹⁾See Reconciliation of Non-GAAP Financial Measures.

Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings

(Unaudited; in Millions Except Per Share Figures)	NINE MONTHS

	2017			2016			Percent
			Percent			Percent	Increase
	Amount		to Sales	Amount		to Sales	(Decrease)
Sales to customers	$ 56,255		100.0	$ 53,784		100.0	4.6
Cost of products sold	18,111		32.2	16,151		30.0	12.1
Selling, marketing and administrative expenses	15,395		27.4	14,636		27.2	5.2
Research and development expense	6,919		12.3	6,455		12.0	7.2
In-process research and development	–		–	29		0.1
Interest (income) expense, net	360		0.6	274		0.5
Other (income) expense, net	192		0.3	464		0.9
Restructuring	165		0.3	296		0.5
Earnings before provision for taxes on income	15,113		26.9	15,479		28.8	(2.4)
Provision for taxes on income	3,100		5.5	2,753		5.1	12.6
Net earnings	$ 12,013		21.4	$ 12,726		23.7	(5.6)

Net earnings per share (Diluted)	$ 4.37			$ 4.55			(4.0)

Average shares outstanding (Diluted)	2,746.4			2,796.6

Effective tax rate	20.5	%		17.8	%

Adjusted earnings before provision for taxes and net earnings ⁽¹⁾
Earnings before provision for taxes on income	$ 18,961		33.7	$ 17,656		32.8	7.4
Net earnings	$ 15,263		27.1	$ 14,403		26.8	6.0
Net earnings per share (Diluted)	$ 5.56			$ 5.15			8.0
Effective tax rate	19.5	%		18.4	%

⁽¹⁾See Reconciliation of Non-GAAP Financial Measures.

Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures

	Third Quarter		% Incr. /		Nine Months YTD		% Incr. /
(Dollars in Millions Except Per Share Data)	2017	2016	(Decr.)		2017	2016	(Decr.)

Earnings before provision for taxes on income – as reported	$ 4,790	5,281	(9.3)	%	$ 15,113	15,479	(2.4)	%

Intangible asset amortization expense	1,077	319			1,886	927

Litigation expense, net	118	55			611	721

Restructuring/Other (1)	187	109			476	387

Actelion acquisition related cost	367	–			580	–

Diabetes asset impairment	(2)	–			180	–

AMO acquisition related cost	36	–			115	–

In-process research and development	–	–			–	29

Other	–	67			–	113

Earnings before provision for taxes on income – as adjusted	$ 6,573	5,831	12.7	%	$ 18,961	17,656	7.4	%

Net Earnings – as reported	$ 3,764	4,272	(11.9)	%	$ 12,013	12,726	(5.6)	%

Intangible asset amortization expense	933	236			1,555	679

Litigation expense, net	97	46			449	595

Restructuring/Other	136	76			358	293

Actelion acquisition related cost	255	–			454	–

Diabetes asset impairment	(5)	–			120	–

AMO acquisition related cost	28	–			314	–

In-process research and development	–	–			–	23

Other	–	53			–	87

Net Earnings – as adjusted	$ 5,208	4,683	11.2	%	$ 15,263	14,403	6.0	%

Diluted Net Earnings per share – as reported	$ 1.37	1.53	(10.5)	%	$ 4.37	4.55	(4.0)	%

Intangible asset amortization expense	0.34	0.08			0.57	0.24

Litigation expense, net	0.04	0.02			0.16	0.21

Restructuring/Other	0.05	0.03			0.14	0.11

Actelion acquisition related cost	0.09	–			0.16	–

Diabetes asset impairment	–	–			0.05	–

AMO acquisition related cost	0.01	–			0.11	–

In-process research and development	–	–			–	0.01

Other	–	0.02			–	0.03

Diluted Net Earnings per share – as adjusted	$ 1.90	1.68	13.1	%	$ 5.56	5.15	8.0	%

Operational Diluted Net Earnings per share – as adjusted at 2015 foreign currency exchange rates		1.68				5.19

Impact of currency at 2016 foreign currency exchange rates	(0.05)	–			0.01	(0.04)

Operational Diluted Net Earnings per share – as adjusted at 2016 foreign currency exchange rates	$ 1.85	1.68	10.1	%	$ 5.57	5.15	8.2	%


(1) Includes $29M recorded in cost of products sold and $89M recorded in other (income) expense for the third quarter 2017. Includes $46M recorded in cost of products sold
and $265M recorded in other (income) expense for nine months 2017 YTD. Includes $3M recorded in cost of products sold and $44M recorded in other (income) expense for the
third quarter 2016. Includes $27M recorded in cost of products sold and $64M recorded in other (income) expense for nine months 2016 YTD.

Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure

Operational Sales Growth Excluding Acquisitions and Divestitures
THIRD QUARTER 2017 ACTUAL vs. 2016 ACTUAL


Segments

	Consumer	Pharmaceutical	Medical Devices	Total
	Operational %⁽¹⁾
WW As Reported:	1.6%	14.6%	6.6%	9.5%
U.S.	(0.5)%	15.4%	4.6%	9.7%
International	3.0%	13.5%	8.6%	9.3%

Beauty
*Dr. Ci: Labo*	(0.6)			(0.1)
U.S.	0.0			0.0
International	(1.0)			(0.2)

Vision Care
*Abbott Medical Optics*			(5.2)	(1.8)
U.S.			(4.6)	(1.5)
International			(5.7)	(2.1)

Pulmonary Hypertension
*Actelion*		(7.9)		(3.7)
U.S.		(7.7)		(4.1)
International		(8.4)		(3.3)


All Other Acquisitions and Divestitures	0.1		(0.2)	(0.1)
U.S.	(0.2)		(0.8)	(0.3)
International	0.3		0.3	0.1

WW Ops excluding Acquisitions and Divestitures	1.1%	6.7%	1.2%	3.8%
U.S.	(0.7)%	7.7%	(0.8)%	3.8%
International	2.3%	5.1%	3.2%	3.8%

⁽¹⁾Operational growth excludes the effect of translational currency

Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure

Operational Sales Growth Excluding Acquisitions and Divestitures
NINE MONTHS 2017 ACTUAL vs. 2016 ACTUAL

Segments

	Consumer	Pharmaceutical	Medical Devices	Total
	Operational %⁽¹⁾
WW As Reported:	1.6%	5.6%	5.3%	4.8%
U.S.	3.8%	3.8%	4.3%	4.0%
International	0.2%	8.4%	6.3%	5.8%

Beauty
*Vogue*	(1.9)			(0.4)
U.S.	(4.1)			(0.6)
International	(0.5)			(0.1)

Other Neuroscience
*Controlled Substance Raw Material and API Business*		0.5		0.2
U.S.		0.6		0.3
International		0.3		0.1

Diagnostics
*Ortho-Clinical Diagnostics*			0.4	0.1
U.S.			0.0	0.0
International			0.8	0.3

Beauty
*Dr. Ci: Labo*	(0.3)			(0.1)
U.S.	0.0			0.0
International	(0.5)			(0.1)

Vision Care
*Abbott Medical Optics*			(4.1)	(1.4)
U.S.			(3.7)	(1.2)
International			(4.6)	(1.7)

Pulmonary Hypertension
*Actelion*		(3.0)		(1.4)
U.S.		(2.8)		(1.5)
International		(3.3)		(1.3)

All Other Acquisitions and Divestitures	(0.1)		(0.3)	0.0
U.S.	(0.4)		(0.7)	(0.3)
International	0.2		0.2	0.0

WW Ops excluding Acquisitions and Divestitures	(0.7)%	3.1%	1.3%	1.8%
U.S.	(0.7)%	1.6%	(0.1)%	0.7%
International	(0.6)%	5.4%	2.7%	3.0%

⁽¹⁾Operational growth excludes the effect of translational currency

View Table Fullscreen

THIRD QUARTER

NINE MONTHS

% Change

2017

2016

Reported

Operational ⁽¹⁾

Currency

2017

2016

Reported

Operational ⁽¹⁾

Currency

CONSUMER SEGMENT ^{(2) (3)}

BABY CARE

$ 100

$ 118

-15.3%

–

$ 326

$ 365

-10.7%

–

Intl

377

0.0%

1,100

1,143

-3.8%

0.0%

477

495

-3.6%

0.0%

1,426

1,508

-5.4%

0.0%

BEAUTY

523

517

1.2%

–

1,739

1,555

11.8%

–

Intl

510

462

10.4%

8.0%

2.4%

1,351

1,279

5.6%

5.4%

0.2%

1,033

979

5.5%

4.4%

1.1%

3,090

2,834

9.0%

8.9%

0.1%

ORAL CARE

154

156

-1.3%

–

460

485

-5.2%

–

Intl

228

227

0.4%

-1.4%

1.8%

678

686

-1.2%

-1.6%

0.4%

382

383

-0.3%

-1.3%

1.0%

1,138

1,171

-2.8%

-3.0%

0.2%

OTC

401

386

3.9%

–

1,310

1,257

4.2%

–

Intl

601

557

7.9%

4.7%

3.2%

1,711

1,681

1.8%

1.4%

0.4%

1,002

943

6.3%

4.4%

1.9%

3,021

2,938

2.8%

2.6%

0.2%

WOMEN’S HEALTH

0.0%

–

-43.8%

–

Intl

267

266

0.4%

-1.9%

2.3%

779

787

-1.0%

-2.6%

1.6%

270

269

0.4%

-1.8%

2.2%

788

803

-1.9%

-3.5%

1.6%

WOUND CARE / OTHER

104

111

-6.3%

–

342

355

-3.7%

–

Intl

8.6%

5.9%

2.7%

257

266

-3.4%

-4.0%

0.6%

192

0.0%

-1.2%

1.2%

599

621

-3.5%

-3.8%

0.3%

TOTAL CONSUMER

1,285

1,291

-0.5%

–

4,186

4,033

3.8%

–

Intl

2,071

1,970

5.1%

3.0%

2.1%

5,876

5,842

0.6%

0.2%

0.4%

$ 3,356

$ 3,261

2.9%

1.6%

1.3%

$ 10,062

$ 9,875

1.9%

1.6%

0.3%

REPORTED SALES vs. PRIOR PERIOD ($MM)

THIRD QUARTER

NINE MONTHS

% Change

2017

2016

Reported

Operational ⁽¹⁾

Currency

2017

2016

Reported

Operational ⁽¹⁾

Currency

PHARMACEUTICAL SEGMENT ^{(2) (3)}

IMMUNOLOGY

$ 2,420

$ 2,294

5.5%

–

$ 6,644

$ 6,689

-0.7%

–

Intl

849

790

7.5%

4.9%

2.6%

2,514

2,343

7.3%

0.0%

3,269

3,084

6.0%

5.3%

0.7%

9,158

9,032

1.4%

0.0%

REMICADE

1,206

1,222

-1.3%

–

3,452

3,669

-5.9%

–

US Exports ⁽⁴⁾

156

255

-38.8%

–

448

673

-33.4%

–

Intl

285

306

-6.9%

-10.2%

3.3%

949

1,000

-5.1%

-5.9%

0.8%

1,647

1,783

-7.6%

-8.2%

0.6%

4,849

5,342

-9.2%

-9.4%

0.2%

SIMPONI / SIMPONI ARIA

242

256

-5.5%

–

701

716

-2.1%

–

Intl

234

225

4.0%

3.2%

0.8%

642

603

6.5%

6.6%

-0.1%

476

481

-1.0%

-1.4%

0.4%

1,343

1,319

1.8%

1.9%

-0.1%

STELARA

800

561

42.6%

–

2,027

1,631

24.3%

–

Intl

324

253

28.1%

24.7%

3.4%

903

722

25.1%

26.1%

-1.0%

1,124

814

38.1%

37.0%

1.1%

2,930

2,353

24.5%

24.8%

-0.3%

OTHER IMMUNOLOGY

–

Intl

–

11.1%

9.4%

1.7%

–

100.0%

98.3%

1.7%

INFECTIOUS DISEASES

353

387

-8.8%

–

1,020

1,107

-7.9%

–

Intl

460

455

1.1%

-2.3%

3.4%

1,334

1,340

-0.4%

0.0%

813

842

-3.4%

-5.3%

1.9%

2,354

2,447

-3.8%

0.0%

EDURANT

15.4%

–

15.8%

–

Intl

179

136

31.6%

26.0%

5.6%

478

370

29.2%

28.9%

0.3%

194

149

30.2%

25.1%

5.1%

522

408

27.9%

27.7%

0.2%

PREZISTA / PREZCOBIX / REZOLSTA

287

310

-7.4%

–

824

860

-4.2%

–

Intl

180

183

-1.6%

-5.5%

3.9%

527

544

-3.1%

-2.7%

-0.4%

467

493

-5.3%

-6.7%

1.4%

1,351

1,404

-3.8%

-3.7%

-0.1%

OTHER INFECTIOUS DISEASES

-20.3%

–

152

209

-27.3%

–

Intl

101

136

-25.7%

-26.4%

0.7%

329

426

-22.8%

-23.1%

0.3%

152

200

-24.0%

-24.5%

0.5%

481

635

-24.3%

-24.5%

0.2%

See footnotes at end of schedule

REPORTED SALES vs. PRIOR PERIOD ($MM)

THIRD QUARTER

NINE MONTHS

% Change

2017

2016

Reported

Operational ⁽¹⁾

Currency

2017

2016

Reported

Operational ⁽¹⁾

Currency

NEUROSCIENCE

647

622

4.0%

–

1,931

1,997

-3.3%

–

Intl

851

842

1.1%

0.6%

0.5%

2,531

2,618

-3.3%

-2.2%

-1.1%

1,498

1,464

2.3%

2.0%

0.3%

4,462

4,615

-3.3%

-2.7%

-0.6%

CONCERTA / METHYLPHENIDATE

100

102

-2.0%

–

284

365

-22.2%

–

Intl

11.4%

10.5%

0.9%

304

294

3.4%

4.1%

-0.7%

198

190

4.2%

3.8%

0.4%

588

659

-10.8%

-10.5%

-0.3%

INVEGA SUSTENNA / XEPLION / TRINZA

395

339

16.5%

–

1,154

983

17.4%

–

Intl

248

217

14.3%

11.0%

3.3%

722

646

11.8%

12.8%

-1.0%

643

556

15.6%

14.3%

1.3%

1,876

1,629

15.2%

15.6%

-0.4%

RISPERDAL CONSTA

-7.4%

–

273

289

-5.5%

–

Intl

107

128

-16.4%

-18.0%

1.6%

335

394

-15.0%

-14.0%

-1.0%

194

222

-12.6%

-13.5%

0.9%

608

683

-11.0%

-10.4%

-0.6%

OTHER NEUROSCIENCE

-25.3%

–

220

360

-38.9%

–

Intl

398

409

-2.7%

-1.4%

-1.3%

1,170

1,284

-8.9%

-7.7%

-1.2%

463

496

-6.7%

-5.6%

-1.1%

1,390

1,644

-15.5%

-14.5%

-1.0%

ONCOLOGY

846

622

36.0%

–

2,207

1,740

26.8%

–

Intl

1,052

895

17.5%

15.2%

2.3%

3,012

2,605

15.6%

16.8%

-1.2%

1,898

1,517

25.1%

23.8%

1.3%

5,219

4,345

20.1%

20.8%

-0.7%

DARZALEX

230

124

85.5%

–

643

320

–

Intl

228

317

163

94.5%

92.0%

2.5%

871

372

IMBRUVICA

230

179

28.5%

–

622

455

36.7%

–

Intl

282

170

65.9%

61.8%

4.1%

749

450

66.4%

67.7%

-1.3%

512

349

46.7%

44.7%

2.0%

1,371

905

51.5%

52.1%

-0.6%

VELCADE

–

Intl

273

304

-10.2%

-11.2%

1.0%

843

950

-11.3%

-9.8%

-1.5%

273

304

-10.2%

-11.2%

1.0%

843

950

-11.3%

-9.8%

-1.5%

ZYTIGA

352

282

24.8%

–

826

840

-1.7%

–

Intl

317

300

5.7%

4.4%

1.3%

924

901

2.6%

3.5%

-0.9%

669

582

14.9%

14.2%

0.7%

1,750

1,741

0.5%

1.0%

-0.5%

OTHER ONCOLOGY

-8.1%

–

116

125

-7.2%

–

Intl

13.4%

11.1%

2.3%

268

252

6.3%

7.3%

-1.0%

127

119

6.7%

5.1%

1.6%

384

377

1.9%

2.6%

-0.7%

PULMONARY HYPERTENSION⁽⁵⁾

387

–

427

–

Intl

283

–

334

–

670

–

761

–

OPSUMIT

–

150

–

174

–

Intl

109

–

130

–

259

–

304

–

TRACLEER

–

Intl

127

–

151

–

210

–

236

–

UPTRAVI

–

113

–

121

–

Intl

–

124

–

133

–

OTHER

–

Intl

–

CARDIOVASCULAR / METABOLISM / OTHER

1,163

1,117

4.1%

–

3,469

3,590

-3.4%

–

Intl

384

376

2.1%

1.0%

1.1%

1,152

1,203

-4.2%

-2.2%

-2.0%

1,547

1,493

3.6%

3.3%

0.3%

4,621

4,793

-3.6%

-3.1%

-0.5%

XARELTO

635

529

20.0%

–

1,790

1,690

5.9%

–

Intl

–

635

529

20.0%

–

1,790

1,690

5.9%

–

INVOKANA / INVOKAMET

220

294

-25.2%

–

723

939

-23.0%

–

Intl

32.4%

31.6%

0.8%

121

24.7%

26.5%

-1.8%

265

328

-19.2%

-19.3%

0.1%

844

1,036

-18.5%

-18.3%

-0.2%

PROCRIT / EPREX

168

0.0%

–

511

581

-12.0%

–

Intl

-14.6%

-17.6%

3.0%

229

265

-13.6%

-13.3%

-0.3%

238

250

-4.8%

-5.8%

1.0%

740

846

-12.5%

-12.4%

-0.1%

OTHER

140

126

11.1%

–

445

380

17.1%

–

Intl

269

260

3.5%

2.9%

0.6%

802

841

-4.6%

-2.1%

-2.5%

409

386

6.0%

5.6%

0.4%

1,247

1,221

2.1%

3.8%

-1.7%

TOTAL PHARMACEUTICAL

5,816

5,042

15.4%

–

15,698

15,123

3.8%

–

Intl

3,879

3,358

15.5%

13.5%

2.0%

10,877

10,109

7.6%

8.4%

-0.8%

$ 9,695

8,400

15.4%

14.6%

0.8%

$ 26,575

25,232

5.3%

5.6%

-0.3%

See footnotes at end of schedule

REPORTED SALES vs. PRIOR PERIOD ($MM)

THIRD QUARTER

NINE MONTHS

% Change

MEDICAL DEVICES SEGMENT ⁽²⁾

2017

2016

Reported

Operational ⁽¹⁾

Currency

2017

2016

Reported

Operational ⁽¹⁾

Currency

CARDIOVASCULAR

$ 261

235

11.1%

–

$ 785

701

12.0%

–

Intl

245

216

13.4%

13.9%

-0.5%

743

663

12.1%

13.5%

-1.4%

506

451

12.2%

12.5%

-0.3%

1,528

1,364

12.0%

12.7%

-0.7%

DIABETES CARE

168

191

-12.0%

–

482

548

-12.0%

–

Intl

237

236

0.4%

-2.6%

3.0%

743

779

-4.6%

0.0%

405

427

-5.2%

-6.9%

1.7%

1,225

1,327

-7.7%

0.0%

DIAGNOSTICS

–

Intl

–

ORTHOPAEDICS

1,326

1,343

-1.3%

–

4,092

4,099

-0.2%

–

Intl

925

908

1.9%

0.0%

1.9%

2,827

2,848

-0.7%

-0.2%

-0.5%

2,251

0.0%

-0.8%

0.8%

6,919

6,947

-0.4%

-0.2%

HIPS

195

190

2.6%

–

612

590

3.7%

–

Intl

133

130

2.3%

-0.1%

2.4%

418

421

-0.7%

-0.1%

-0.6%

328

320

2.5%

1.5%

1.0%

1,030

1,011

1.9%

2.2%

-0.3%

KNEES

220

223

-1.3%

–

702

696

0.9%

–

Intl

123

132

-6.8%

-9.5%

2.7%

424

433

-2.1%

-1.4%

-0.7%

343

355

-3.4%

-4.4%

1.0%

1,126

1,129

-0.3%

0.0%

-0.3%

TRAUMA

398

389

2.3%

–

1,179

1,151

2.4%

–

Intl

264

248

6.5%

4.6%

1.9%

768

764

0.5%

0.8%

-0.3%

662

637

3.9%

3.1%

0.8%

1,947

1,915

1.7%

1.8%

-0.1%

SPINE & OTHER

513

541

-5.2%

–

1,599

1,662

-3.8%

–

Intl

405

398

1.8%

0.3%

1.5%

1,217

1,230

-1.1%

-0.5%

-0.6%

918

939

-2.2%

-2.8%

0.6%

2,816

2,892

-2.6%

-2.3%

-0.3%

SURGERY

1,002

0.0%

–

3,009

3,003

0.2%

–

Intl

1,344

1,282

4.8%

3.7%

1.1%

3,992

3,906

2.2%

2.9%

-0.7%

2,346

2,284

2.7%

2.1%

0.6%

7,001

6,909

1.3%

1.7%

-0.4%

ADVANCED

398

390

2.1%

–

1,190

1,131

5.2%

–

Intl

525

494

6.3%

5.3%

1.0%

1,543

1,478

4.4%

5.4%

-1.0%

923

884

4.4%

3.9%

0.5%

2,733

2,609

4.8%

5.3%

-0.5%

GENERAL

430

414

3.9%

–

1,276

1,254

1.8%

–

Intl

675

649

4.0%

2.8%

1.2%

2,017

2,006

0.5%

1.1%

-0.6%

1,105

1,063

4.0%

3.2%

0.8%

3,293

3,260

1.0%

1.4%

-0.4%

SPECIALTY

174

198

-12.1%

–

543

618

-12.1%

–

Intl

144

139

3.6%

2.8%

0.8%

432

422

2.4%

2.1%

0.3%

318

337

-5.6%

-5.9%

0.3%

975

1,040

-6.3%

-6.4%

0.1%

VISION CARE

432

277

56.0%

–

1,142

767

48.9%

–

Intl

659

462

42.6%

43.9%

-1.3%

1,802

1,297

38.9%

39.8%

-0.9%

1,091

739

47.6%

48.4%

-0.8%

2,944

2,064

42.6%

43.2%

-0.6%

CONTACT LENSES / OTHER

302

277

9.0%

–

832

767

8.5%

–

Intl

498

462

7.8%

9.1%

-1.3%

1,404

1,297

8.2%

9.1%

-0.9%

800

739

8.3%

9.1%

-0.8%

2,236

2,064

8.3%

8.9%

-0.6%

SURGICAL

130

–

310

–

Intl

161

–

398

–

291

–

708

–

TOTAL MEDICAL DEVICES

3,189

3,048

4.6%

–

9,510

9,118

4.3%

–

Intl

3,410

3,111

9.6%

8.6%

1.0%

10,108

9,559

5.7%

6.3%

-0.6%

$ 6,599

6,159

7.1%

6.6%

0.5%

$ 19,618

18,677

5.0%

5.3%

-0.3%

* Percentage greater than 100% or not meaningful

(1) Operational growth excludes the effect of translational currency

(2) Unaudited

(3) Prior year amounts have been reclassified to conform to current year product disclosure

(4) Reported as U.S. sales

(5) Actelion acquisition completed June 16, 2017

SOURCE Johnson & Johnson