At the performance conference in the second quarter of 2025, Johnson & Johnson detailed its business achievements and financial performance, while also providing updates on financial outlook. During the meeting, senior management of the company, including the Vice President of Investor Relations, CEO, and CFO, discussed the company's future operations and financial performance, market position, and business strategies. Additionally, they specifically mentioned collaborations with strategic partners and product and compound licenses acquired from other companies. The purpose of this meeting was to provide investors with a comprehensive understanding of the current status of the company and to address any related questions.

Johnson & Johnson achieved a 4.6% growth in operational sales in the second quarter, especially demonstrating strong performance in the fields of innovative pharmaceuticals and medical devices. In terms of innovative pharmaceuticals, sales exceeded $15 billion for the first time, achieving a 3.8% growth in operational sales. Despite facing challenges such as patent expirations, the company successfully overcame this obstacle through diversified businesses and strong brand growth, such as Tarsale Carbide Tech Valley and ale. At the same time, in the field of medical devices, there was strong momentum in the cardiovascular surgery sector, with a 6.1% growth in operational sales. Based on this, the company raised its expectations for annual sales and earnings per share. Additionally, Johnson & Johnson continues to drive innovation in areas such as cancer treatment, immunology, neuroscience, and cardiovascular surgery, aiming to shift from treatment to cure in order to improve and extend the lives of patients.

This report provides a detailed analysis of the global corporate financial performance in the second quarter of 2025, including changes in key indicators such as sales revenue, net profit, earnings per share, and more. The sales revenue reached $23.7 billion, an increase of 4.6%, with a negative impact of 710 basis points due to the influence of Stella. The U.S. market grew by 7.8%, while the non-U.S. market grew by 0.6%. Net profit was $5.5 billion, with earnings per share of $2.29, showing an increase compared to the same period last year. However, adjusted net income and earnings per share decreased by 2.1% and 1.8% respectively, mainly due to incremental debt and erosion from Soara. The report also delves into the performance of six key business areas, particularly in innovative drugs and medical technology, emphasizing significant growth in fields such as oncology, immunology, neuroscience, and global sales growth driven by mergers and acquisitions and new product launches. Additionally, the report analyzes changes in costs, marketing and research and development expenses, as well as detailed information on tax and interest income.

Johnson & Johnson achieved strong performance in the second quarter of 2025, exceeding expectations, primarily driven by its existing products and platforms. The company is confident in the growth of its innovative pharmaceutical business, expecting to surpass its previously set growth targets. In addition, Johnson & Johnson has made progress in the medical technology field, particularly in cardiovascular, surgical vision, and surgical wound closure. Financially, the company generated over $6 billion in free cash flow in the first half of the year, with net debt at $32 billion, including debt from the acquisition of Intercellular. The company expects full-year operational sales to grow by 4.5% to 5%, and plans to accelerate product pipeline and market expansion through efficiency improvements and reinvestment to address challenges such as tariffs and lawsuits.

Johnson & Johnson showed strong performance in the second quarter, achieving its first billion-dollar quarterly sales despite facing a $1.25 billion annual erosion from competition in the biosimilar drug market led by Stellar. The company has raised its full-year adjusted earnings per share expectation to $10.85, an 8.7% increase, benefiting from operational improvements and favorable exchange rates. The company anticipates higher operational sales growth in the second half of the year for innovative drugs and medical devices. In the innovation drug segment, competition in biosimilar drugs from Stellar will intensify, while growth in medical devices will be driven by the adoption of new products in the cardiovascular surgery and vision fields. Additionally, the company is optimistic about progress in its pipeline for the remaining year, including expected approvals for multiple drugs and advancements in clinical trials. Johnson & Johnson emphasizes the strength of its business model, which enables it to navigate a dynamic external environment while fulfilling financial commitments, thanks to the hard work of its employees and focus on advancing the pipeline, increasing market share, and providing breakthrough therapies for patients, creating long-term value for shareholders.

Johnson & Johnson achieved revenue of over $15 billion in the first quarter, with 90% of the business showing strong growth at 15.5%, reflecting the wide range of products in the company's portfolio. Specifically mentioned strong growth brands include Darzalex, Kaviti, Erleada, and RiberBand in the oncology field; Trumm FAA in the immunology field; and Bravado and Kalita in the neuroscience field. Additionally, the company's medical device division performed well, with an operational growth of 6.1%, especially in the cardiovascular, vision, and surgery departments. Looking ahead, Johnson & Johnson is optimistic about the upcoming new products and market innovations, expecting further acceleration of growth.

During the conversation, it was mentioned that the world's first daily disposable contact lenses for individuals with both astigmatism and presbyopia are being launched, as well as confidence in the future acceleration of growth despite the performance of automation not meeting expectations. Additionally, new products in the hip and knee joint areas are set to be launched, along with the introduction of robots and Tri Al-is in the spine area, with expectations that these will enhance market competitiveness. The growth of Trea in the field of inflammatory bowel disease was specifically mentioned, as well as EP Energy's market leadership position in the medical technology field. Optimism was also expressed for the growth of the contact lens business, especially for the newly launched One Day Acuvue Oasis Max contact lenses, with expectations for higher growth in the future.

The company expressed strong confidence in reaching the goal of 50 billion by 2028, mainly based on its business strength in the field of oncology. Several key growth points mentioned include the continuous growth opportunities for the multiple myeloma treatment drug Darzalex, revenue expectations of over 5 billion for Carvic D, and the high expectations for Tar 200 for non-muscle invasive bladder cancer due to its significant innovative potential in the treatment field. Additionally, good performance of Riber Band Plus La Clues in treating newly diagnosed patients was also mentioned, emphasizing it as the first treatment option to offer meaningful overall survival extension without the use of chemotherapy.

A pharmaceutical company is advancing its drug development in areas such as lung cancer, colorectal cancer, head and neck squamous cell carcinoma, bladder cancer, multiple myeloma, and prostate cancer. Its innovative drugs have achieved significant results in lung cancer treatment, becoming one of the preferred treatment options for doctors, especially in first-line treatment patients. In addition, the company is actively developing new drug formulations, such as subcutaneous dosing forms, to further enhance treatment efficacy. In the areas of multiple myeloma and prostate cancer, the company has also made significant progress, including a 100% overall response rate and innovative T-cell engagers, demonstrating enormous therapeutic potential.

The discussion focused on the company's guidance indicating an acceleration in revenue growth in the second half of the year, particularly mentioning the adjusted growth expectation of 3.5%.

The company is currently not providing specific sales guidance, but expects operational growth to exceed sales growth based on quarterly results and the introduction of new products. As for improving profit margins, the company states that more specific comments will be made after further understanding the current year's impact, including changes in drug part D designs and tariff impacts. The company emphasizes that its consistent principle is to ensure that bottom-line growth is consistent with, or even superior to, top-line growth.

It was mentioned in the discussion that although the current tariff policies are full of uncertainty, the tax reform policies that have been passed are creating job opportunities in the United States and promoting innovation. Therefore, the company is committed to investing $55 billion in the US market in the coming years and striving to manufacture all drugs consumed in the US on American soil. In addition, the company also stated that its manufacturing supply chain is flexible and can be adjusted according to any policy changes by 2026.

The medical technology company clarified misunderstandings about the submission time of Otava, emphasizing that the submission time has not been delayed and providing a detailed overview of the progress of the Otava project and the latest EP (electrophysiology) strategy, including product innovation, market performance, feedback from doctors, and the company's leadership position in the global market. The company highlighted its comprehensive product portfolio and market leadership position in the EP field, as well as its confidence in the future.

Johnson & Johnson has seen a huge market opportunity in the 600,000 new patients and 400,000 recurrent patients diagnosed each year. They plan to first launch a new drug for patients who have failed BCG therapy, and then expand into the broader field of non-muscle-invasive bladder cancer. The company has leveraged its strengths in innovative medicine and medical devices, including engineers, catheter development, and top-tier training resources from the J&J Research Institute, to ensure that the product can quickly adapt to clinical practice and benefit patients. Currently, the product launch plan is proceeding smoothly, and the team is confident in the success of the market launch.

During the discussion, the company's senior management emphasized the strong performance of the medical technology business in the cardiovascular and surgical fields, particularly with the upcoming launch of the Otava product, expected to further drive its leading position in the robotic surgery market. At the same time, they also mentioned the stable growth in the ophthalmology business and efforts to improve market performance in the orthopedic field, with the goal of achieving overall growth in the medical technology business at the market average level. It is expected that by 2027, business growth will be maintained at a high level of 5% to 7%.

In Johnson & Johnson's second quarter 2025 earnings conference call, the focus was on the company's progress in innovative drug research and development, particularly for the treatment of inflammatory bowel disease (IBD). The meeting mentioned the ongoing Phase 2b study, with data expected to be released this year, which could bring groundbreaking advancements for treating refractory IBD patients. Additionally, the company expressed excitement about the preliminary concept proof of a oral IL-23 receptor inhibitor and plans to further conduct large-scale Phase 3 clinical trials. Furthermore, the conference also highlighted the company's strong momentum in multiple treatment areas and significant approvals and submissions in the pipeline for lung cancer, bladder cancer, severe depression, psoriasis, etc., indicating significant growth in the next six months.