Johnson & Johnson (J&J) has reported a 6.5% increase in worldwide sales to $85.2 billion for the year 2023, compared to the previous year. U.S. sales saw a 10.6% rise, while international sales grew by 1.9%. The company's Innovative Medicine segment contributed $54.8 billion, up 4.2% from 2022, with significant growth in products like STELARA and TREMFYA. The MedTech segment also saw a 10.8% increase in sales to $30.4 billion, bolstered by acquisitions and operational growth. Despite these gains, J&J faces cybersecurity threats that could impact its business and financial condition. The company has established privacy compliance programs but acknowledges the risk of information security incidents. J&J also anticipates challenges following the separation of Kenvue Inc., including potential tax liabilities and the inability to predict Kenvue...Show More

Johnson & Johnson (J&J) has reported a 6.5% increase in worldwide sales to $85.2 billion for the year 2023, compared to the previous year. U.S. sales saw a 10.6% rise, while international sales grew by 1.9%. The company's Innovative Medicine segment contributed $54.8 billion, up 4.2% from 2022, with significant growth in products like STELARA and TREMFYA. The MedTech segment also saw a 10.8% increase in sales to $30.4 billion, bolstered by acquisitions and operational growth. Despite these gains, J&J faces cybersecurity threats that could impact its business and financial condition. The company has established privacy compliance programs but acknowledges the risk of information security incidents. J&J also anticipates challenges following the separation of Kenvue Inc., including potential tax liabilities and the inability to predict Kenvue's stock performance. The company's future plans include divesting its ownership interest in Kenvue, although the timing remains uncertain. J&J's Board of Directors has approved a share repurchase program, with $5.0 billion of common stock repurchased in fiscal 2023. The company's subsidiaries operate 61 manufacturing facilities worldwide, with a focus on maintaining these properties in good condition. J&J's executive officers have been elected by the Board to hold office for one year, with no family relationships or arrangements influencing their selection.