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Johnson Johnson
built 272 days ago
Organized in 1973, Johnson & Johnson Development Corporation (JJDC) is the venture capital subsidiary of Johnson & Johnson. JJDC makes private equity investments in venture funded health care companies. Portfolio companies include those in the fields of pharmaceuticals, biotechnology, medical devices, diagnostics and consumer products. JJDC ... leads and manages internal investments in selected promising technologies.
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Cordis Corporation, a Johnson & Johnson company, is a worldwide leader in the development and manufacture of interventional vascular technology. Through the company's innovation, research and development, Cordis partners with interventional cardiologists worldwide to treat millions of patients who suffer from vascular disease. More information about Cordis Corporation can be found at www.cordis.com.
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In July Johnson & Johnson took the axe to its pharma division in a bid to cut up to $750 million in costs. Included in the cuts was a plan to reduce the company's workforce by four percent, or almost 5,000 employees. According to J&J, the cuts are designed to improve the company's cost structure and ensure profitable growth in the coming years. While J&J plans plans to continue investing in new technologies, it faces some significant patent losses among its current therapies. In addition, both J&J and Amgen have been embroiled in the anemia drug safety controversey, which has impacted sales of the company's best-selling drug Procrit. Medicare, which spends more money on anemia drugs than any other pharmaceutical, recently decided to limit the amount of anemia drugs that it will reimburse for.
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Johnson & Johnson greatly benefits from a rock-solid balance sheet and enormous free cash flow generating abilities. The previous year’s free cash flows exceeded $10 billion, and long-term debt from the most recent quarter was only $2 billion. One analyst report suggested that Johnson & Johnson could drive growth by increasing financial leverage, and its healthy financial state and AAA credit rating should give it the ability to make strategic acquisitions that increase shareholder value. Johnson & Johnson has a free cash flow return on invested capital in excess of 40%, a value far in excess of the firm’s cost of capital. Levering up the company could play an important role in boosting growth, as long as the acquisitions show the same ability to generate free cash flow as the current core products.
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Johnson & Johnson Medical, a division of Johnson & Johnson (India) Limited, is committed to “Patient Care Through Innovation”. Professional Education is one such effort that re-iterates this commitment by providing a platform for advanced training in diverse specialties to the entire medical fraternity.
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Johnson & Johnson announced record sales of $16.0 billion for the fourth quarter of 2007, an increase of 16.6% as compared to the fourth quarter of 2006. Operational growth was 11.9% and currency contributed 4.7%. Domestic sales were up 9.1%, while international sales increased 25.8%, reflecting operational growth of 15.3% and a positive currency impact of 10.5%. Net earnings and diluted earnings per share for the fourth quarter of 2007 were $2.4 billion and $0.82 respectively, representing increases of 9.5% and 10.8% respectively, compared to the same period in 2006. Net earnings for the fourth quarter of 2007 included an after-tax, non-cash charge of $441 million for the write-down of the intangible asset related to NATRECOR (nesiritide) and a tax gain of $267 million associated with the restructuring of certain international subsidiaries. Excluding these special items, 2007 fourth-quarter net earnings were $2.5 billion and earnings per share were $0.88, representing increases of 6.8% and 8.6%, respectively, as compared with the same period in 2006.
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