Q: What is Johnson & Johnson (JNJ) Q4 2024 Earnings Call Transcript Summary?
The final result you summarize based on positive and negative content needs to be objective, neutral, and dialectical.
Here are the specific viewpoints from the earnings call:
Bullish Points:
1. Johnson & Johnson delivered robust operational sales growth of 7% for the full year 2024, excluding the COVID-19 vaccine.
2. Spravato surpassed $1 billion in annual sales, and the company now has 26 platforms generating at least $1 billion in annual revenue.
3. In innovative medicine, the company reported a third consecutive quarter of sales exceeding $14 billion, with 10 key brands growing double digits.
4. The company achieved strong growth in oncology, neuroscience, and pulmonary hypertension.
5. In 2024, Johnson & Johnson had 27 approvals in major markets, including FDA approvals of Tremfya for ulcerative colitis and Rybrevant and Lazcluze for non-small cell lung cancer.
6. The company reported 18 positive readouts for registrational studies, initiated 16 phase 3 studies, and submitted 49 filings across major markets.
7. Johnson & Johnson announced a new drug application with the FDA for TAR-200 for non-muscle invasive bladder cancer.
8. Medtech sales grew for the second year, with over $30 billion in sales and strong momentum in cardiovascular and vision.
9. The company launched 15 major products in medtech in 2024.
10. Johnson & Johnson made significant investments in M&A, including the acquisitions of Shockwave, V-Wave, Ambrx, Proteologix, and the NM26 bispecific antibody.
Bearish Points:
1. Worldwide growth was negatively impacted by 290 basis points due to Stelara and positively impacted by 100 basis points due to acquisitions and divestitures.
2. Growth in Europe was negatively impacted by 720 basis points due to the loss of exclusivity of Stelara and the COVID-19 vaccine.
3. For the quarter, net earnings were $3.4 billion and diluted earnings per share was $1.41, versus diluted earnings per share of $1.70 a year ago.
4. Adjusted net earnings for the quarter were $4.9 billion and adjusted diluted earnings per share was $2.04, representing decreases of 11.1% and 10.9%, respectively, compared to the fourth quarter of 2023.
5. Earnings per share in the quarter was negatively impacted by $0.22 of acquired IPR&D expense related to the V-Wave acquisition.
6. For the full year 2024, adjusted net earnings were $24.2 billion and adjusted diluted earnings per share was $9.98, representing a decrease of 4.6% and an increase of 0.6%, respectively, versus full year 2023.
7. Earnings per share in the year was negatively impacted by $0.67 due to acquired IPR&D charges on various transactions throughout the year.
8. Stelara declined 13.6%, driven by the impact of current and anticipated biosimilar competition.
9. The company expects China to remain a headwind through 2025.
For more information about Johnson & Johnson(JNJ)'s earnings call, you can read the relevant news: Johnson & Johnson (JNJ) Q4 2024 Earnings Call Transcript
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