Johnson & Johnson Reports Q2 2025 Results; Raises 2025 Outlook
Overall financial results
1
Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2
Excludes the impact of translational currency
3
Excludes the net impact of acquisitions and divestitures and translational currency
4
Excludes intangible amortization expense and special items
5
Excludes COVID-19 Vaccine
6
Non-GAAP measure; defined as cash flow from operating activities, less additions to property, plant and equipment. Cash flow from operations, the most directly comparable GAAP financial measure, will be included in subsequent SEC filings.
7
Second-quarter YTD 2025 is estimated as of July 16, 2025
Note: values may have been rounded
Expand
Regional sales results
1
Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2
Excludes the impact of translational currency
3
Excludes the net impact of acquisitions and divestitures and translational currency
Note: values may have been rounded
Expand
Segment sales results
1
Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2
Excludes the impact of translational currency
3
Excludes the net impact of acquisitions and divestitures and translational currency
Note: values may have been rounded
Expand
Second-Quarter 2025 segment commentary:
Operational sales* reflected below excludes the impact of translational currency.
Innovative Medicine
Innovative Medicine worldwide operational sales grew 3.8%*, with net acquisitions and divestitures positively impacting growth by 1.4%. Growth was primarily driven by DARZALEX, CARVYKTI, ERLEADA and RYBREVANT/LAZCLUZE in Oncology, TREMFYA and SIMPONI/SIMPONI ARIA in Immunology, and SPRAVATO in Neuroscience. Growth was partially offset by an approximate (1,170) basis points impact from STELARA in Immunology, and an approximate (130) basis points impact from COVID-19 in Infectious Diseases.
MedTech
MedTech worldwide operational sales grew 6.1%*, with net acquisitions and divestitures positively impacting growth by 2.0%. Growth was primarily driven by electrophysiology products and Abiomed in Cardiovascular, as well as wound closure products in General Surgery.
Full-year 2025 guidance:
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.
1
Non-GAAP financial measure; excludes the net impact of acquisitions and divestitures
2
Non-GAAP financial measure; excludes the impact of translational currency
3
Calculated using Euro Average Rate: July 2025 = $1.13 and April 2025 = $1.10 (Illustrative purposes only)
4
Non-GAAP financial measure; excludes intangible amortization expense and special items
5
Excludes COVID-19 Vaccine
Note: percentages may have been rounded
Expand
Other modeling considerations will be provided on the webcast
Notable announcements in the quarter:
The information contained in this section should be read together with Johnson & Johnson's other disclosures filed with the Securities and Exchange Commission, including its Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. The reader is also encouraged to review all other news releases and information available in the Investor Relations section of the company's website at News Releases, as well as Innovative Medicine News Center, MedTech News & Events, and www.factsabouttalc.com.
Webcast information:
Johnson & Johnson will conduct a conference call with investors to discuss this earnings 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. A replay and podcast will be available approximately two hours after the live webcast in the Investor Relations section of the company's website at events-and-presentations.
About Johnson & Johnson:
At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow, and profoundly impact health for humanity. Learn more at www.jnj.com.
Non-GAAP financial measures:
* 'Operational sales growth' excluding the impact of translational currency, 'adjusted operational sales growth' excluding the net impact of acquisitions and divestitures and translational currency, as well as 'adjusted net earnings', 'adjusted diluted earnings per share' and 'adjusted operational 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 quarterly results.
Copies of the financial schedules accompanying this earnings release are available on the company's website at quarterly results. 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, an Innovative Medicine pipeline of selected compounds in late stage development and a copy of today's earnings call presentation can also be found in the Investor Relations section of the company's website at quarterly results.
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, and 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 factors, such as interest rate and currency exchange rate fluctuations or changes to applicable laws and regulations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new 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; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; 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; and increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's most recent Annual Report on Form 10-K, including in the sections captioned 'Cautionary Note Regarding Forward-Looking Statements' and 'Item 1A. Risk Factors,' and in Johnson & Johnson's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com, 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) SECOND QUARTER
Sales to customers by
geographic area
U.S.
$
13,544
12,569
7.8
%
7.8
-
$
25,849
24,189
6.9
%
6.9
-
Europe
5,387
5,214
3.3
(1.9
)
5.2
10,497
10,377
1.1
0.2
0.9
Western Hemisphere excluding U.S.
1,206
1,212
(0.5
)
6.2
(6.7
)
2,373
2,406
(1.3
)
7.7
(9.0
)
Asia-Pacific, Africa
3,606
3,452
4.4
2.4
2.0
6,917
6,858
0.9
0.9
0.0
International
10,199
9,878
3.2
0.6
2.6
19,787
19,641
0.7
1.4
(0.7
)
Worldwide
$
23,743
22,447
5.8
%
4.6
1.2
$
45,636
43,830
4.1
%
4.4
(0.3
)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
Expand
Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures) SIX MONTHS
2025
2024
Percent
Percent
Percent
Increase
Amount
to Sales
Amount
to Sales
(Decrease)
Sales to customers
$
45,636
100.0
$
43,830
100.0
4.1
Cost of products sold
14,985
32.8
13,380
30.5
12.0
Gross Profit
30,651
67.2
30,450
69.5
0.7
Selling, marketing and administrative expenses
11,001
24.1
10,938
25.0
0.6
Research and development expense
6,741
14.8
6,982
16.0
(3.5
)
In-process research and development impairments
-
-
194
0.4
Interest (income) expense, net
(80
)
(0.2
)
(334
)
(0.8
)
Other (income) expense, net
(7,214
)
(15.8
)
3,057
7.0
Restructuring
81
0.2
151
0.3
Earnings before provision for taxes on income
20,122
44.1
9,462
21.6
112.7
Provision for taxes on income
3,586
7.9
1,521
3.5
135.8
Net earnings
$
16,536
36.2
$
7,941
18.1
108.2
Net earnings per share (Diluted)
$
6.82
$
3.27
108.6
Average shares outstanding (Diluted)
2,423.3
2,428.5
Effective tax rate
17.8
%
16.1
%
Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income
$
16,199
35.5
$
16,281
37.1
(0.5
)
Net earnings
$
13,405
29.4
$
13,420
30.6
(0.1
)
Net earnings per share (Diluted)
$
5.53
$
5.53
0.0
Effective tax rate
17.2
%
17.6
%
(1) See Reconciliation of Non-GAAP Financial Measures.
Expand
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Second Quarter Six Months Ended
(Dollars in Millions Except Per Share Data)
2025
2024
2025
2024
Net Earnings, after tax- as reported
$5,537
$4,686
$16,536
$7,941
Pre-tax Adjustments
Litigation related
57
352
(6,909)
3,078
Intangible Asset Amortization expense
1,267
1,106
2,387
2,184
COVID-19 Vaccine related costs
-
64
-
73
Restructuring related 1
79
(11)
134
160
Medical Device Regulation
-
68
-
119
Acquisition, integration and divestiture related
246
452
378
600
(Gains)/losses on securities
21
431
60
411
IPR&D impairments
-
194
-
194
Other
27
-
27
-
Tax Adjustments
Tax impact on special item adjustments 2
(321)
(437)
994
(1,293)
Tax legislation and other tax related
(214)
(65)
(202)
(47)
Adjusted Net Earnings , after tax
$6,699
$6,840
$13,405
$13,420
Average shares outstanding (Diluted)
2,419.1
2,422.0
2,423.3
2,428.5
Adjusted net earnings per share (Diluted)
$2.77
$2.82
$5.53
$5.53
Operational adjusted net earnings per share (Diluted)
$2.71
$5.52
Notes:
1
In fiscal 2023, the company completed a prioritization of its research and development (R&D) investment within the Innovative Medicine segment to focus on the most promising medicines with the greatest benefit to patients. This resulted in the exit of certain programs within therapeutic areas. The R&D program exits were primarily in infectious diseases and vaccines including the discontinuation of its respiratory syncytial virus (RSV) adult vaccine program, hepatitis and HIV development. The restructuring income of $63 million in the fiscal second quarter of 2024 ($81 million expense Q2 2024 YTD) included asset divestments and the termination of partnered and non-partnered program costs and asset impairments. This program was completed in Q4 2024.
In fiscal 2023, the company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expenses of $50 million in the fiscal second quarter of 2025 ($105 million Q2 2025 YTD) and $52 million in the fiscal second quarter of 2024 ($79 million Q2 2024 YTD) includes costs related to market and product exits.
In fiscal 2025, the company initiated a restructuring program of its Surgery franchise within the MedTech segment to simplify and focus operations by exiting certain non-strategic product lines and optimize select sites across the network. Restructuring expenses of $29 million were recorded in the fiscal second quarter of 2025.
2
The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings.
Expand
REPORTED SALES vs. PRIOR PERIOD ($MM)
REPORTED SALES vs. PRIOR PERIOD ($MM)
% Change
% Change
ONCOLOGY
US
$
3,385
2,636
28.4
%
28.4
%
-
$
6,398
5,019
27.5
%
27.5
%
-
Intl
2,928
2,455
19.3
%
15.7
%
3.6
%
5,592
4,885
14.5
%
15.1
%
-0.6
%
WW
6,312
5,090
24.0
%
22.3
%
1.7
%
11,990
9,904
21.1
%
21.3
%
-0.2
%
CARVYKTI
US
358
167
*
*
-
676
307
*
*
-
Intl
81
20
*
*
*
132
36
*
*
*
WW
439
186
*
*
*
808
343
*
*
*
DARZALEX
US
2,017
1,641
23.0
%
23.0
%
-
3,846
3,105
23.9
%
23.9
%
-
Intl
1,521
1,237
23.0
%
19.6
%
3.4
%
2,930
2,465
18.9
%
19.7
%
-0.8
%
WW
3,539
2,878
23.0
%
21.5
%
1.5
%
6,776
5,570
21.7
%
22.0
%
-0.3
%
ERLEADA
US
378
318
18.6
%
18.6
%
-
670
603
11.0
%
11.0
%
-
Intl
530
418
27.0
%
22.8
%
4.2
%
1,009
822
22.9
%
23.0
%
-0.1
%
WW
908
736
23.4
%
21.0
%
2.4
%
1,679
1,425
17.8
%
17.9
%
-0.1
%
IMBRUVICA
US
239
246
-2.7
%
-2.7
%
-
474
511
-7.3
%
-7.3
%
-
Intl
496
525
-5.4
%
-8.4
%
3.0
%
970
1,043
-6.9
%
-6.3
%
-0.6
%
WW
735
770
-4.5
%
-6.6
%
2.1
%
1,444
1,554
-7.0
%
-6.6
%
-0.4
%
RYBREVANT / LAZCLUZE (3)
US
139
52
*
*
-
252
88
*
*
-
Intl
41
17
*
*
*
69
28
*
*
*
WW
179
69
*
*
*
320
116
*
*
*
TALVEY
US
82
59
38.0
%
38.0
%
-
150
109
36.7
%
36.7
%
-
Intl
24
9
*
*
*
42
17
*
*
*
WW
106
69
55.0
%
54.3
%
0.7
%
192
127
52.0
%
52.4
%
-0.4
%
TECVAYLI
US
114
104
8.2
%
8.2
%
-
219
205
6.6
%
6.6
%
-
Intl
52
30
74.8
%
72.0
%
2.8
%
98
63
56.0
%
58.4
%
-2.4
%
WW
166
135
23.1
%
22.4
%
0.7
%
317
268
18.2
%
18.7
%
-0.5
%
ZYTIGA / abiraterone acetate
US
6
11
-38.9
%
-38.9
%
-
13
20
-31.9
%
-31.9
%
-
Intl
139
154
-9.8
%
-13.3
%
3.5
%
257
326
-21.1
%
-21.3
%
0.2
%
WW
145
165
-11.6
%
-14.9
%
3.3
%
270
346
-21.7
%
-21.9
%
0.2
%
OTHER ONCOLOGY
US
50
37
36.9
%
36.9
%
-
97
70
39.8
%
39.8
%
-
Intl
42
45
-8.7
%
-12.3
%
3.6
%
84
86
-2.5
%
-1.8
%
-0.7
%
WW
93
83
11.7
%
9.7
%
2.0
%
182
156
16.4
%
16.8
%
-0.4
%
See footnotes at end of schedule
REPORTED SALES vs. PRIOR PERIOD ($MM)
REPORTED SALES vs. PRIOR PERIOD ($MM)
SECOND QUARTER
SIX MONTHS
% Change
% Change
IMMUNOLOGY
US
$
2,505
2,978
-15.9
%
-15.9
%
-
$
4,701
5,431
-13.4
%
-13.4
%
-
Intl
1,489
1,744
-14.6
%
-16.2
%
1.6
%
2,999
3,538
-15.2
%
-13.8
%
-1.4
%
WW
3,993
4,722
-15.4
%
-16.0
%
0.6
%
7,700
8,969
-14.1
%
-13.6
%
-0.5
%
REMICADE
US
283
231
22.5
%
22.5
%
-
597
497
20.1
%
20.1
%
-
US Exports (4)
34
35
-2.6
%
-2.6
%
-
44
62
-28.7
%
-28.7
%
-
Intl
138
127
8.6
%
8.8
%
-0.2
%
281
268
4.8
%
7.7
%
-2.9
%
WW
455
393
15.9
%
15.9
%
0.0
%
922
827
11.5
%
12.4
%
-0.9
%
SIMPONI / SIMPONI ARIA
US
305
267
14.0
%
14.0
%
-
597
521
14.4
%
14.4
%
-
Intl
387
270
43.1
%
40.8
%
2.3
%
753
569
32.2
%
35.0
%
-2.8
%
WW
690
537
28.6
%
27.5
%
1.1
%
1,349
1,091
23.7
%
25.1
%
-1.4
%
STELARA
US
1,078
1,855
-41.9
%
-41.9
%
-
2,059
3,251
-36.7
%
-36.7
%
-
Intl
575
1,030
-44.2
%
-45.6
%
1.4
%
1,219
2,085
-41.5
%
-40.6
%
-0.9
%
WW
1,653
2,885
-42.7
%
-43.2
%
0.5
%
3,278
5,336
-38.6
%
-38.2
%
-0.4
%
TREMFYA
US
796
589
35.2
%
35.2
%
-
1,395
1,098
27.1
%
27.1
%
-
Intl
391
317
23.2
%
20.5
%
2.7
%
747
616
21.2
%
22.4
%
-1.2
%
WW
1,186
906
31.0
%
30.1
%
0.9
%
2,142
1,714
25.0
%
25.4
%
-0.4
%
OTHER IMMUNOLOGY
US
8
2
*
*
-
9
2
*
*
-
Intl
0
0
-
-
-
0
0
-
-
-
WW
8
2
*
*
-
9
2
*
*
-
NEUROSCIENCE
US
1,377
1,102
24.9
%
24.9
%
-
2,345
2,156
8.7
%
8.7
%
-
Intl
674
679
-0.8
%
-2.6
%
1.8
%
1,353
1,428
-5.2
%
-4.1
%
-1.1
%
WW
2,051
1,782
15.1
%
14.4
%
0.7
%
3,698
3,585
3.2
%
3.6
%
-0.4
%
CAPLYTA (5)
US
211
-
*
*
-
211
-
*
*
-
Intl
-
-
-
-
-
-
-
-
-
-
WW
211
-
*
*
-
211
-
*
*
-
CONCERTA / Methylphenidate
US
24
34
-27.7
%
-27.7
%
-
62
75
-16.6
%
-16.6
%
-
Intl
139
129
7.5
%
7.0
%
0.5
%
249
265
-6.0
%
-4.4
%
-1.6
%
WW
164
163
0.2
%
-0.2
%
0.4
%
312
340
-8.3
%
-7.1
%
-1.2
%
INVEGA SUSTENNA / XEPLION /
INVEGA TRINZA / TREVICTA
US
732
784
-6.7
%
-6.7
%
-
1,357
1,549
-12.4
%
-12.4
%
-
Intl
260
269
-3.5
%
-5.1
%
1.6
%
537
561
-4.2
%
-3.1
%
-1.1
%
WW
992
1,054
-5.9
%
-6.3
%
0.4
%
1,895
2,110
-10.2
%
-9.9
%
-0.3
%
SPRAVATO
US
366
226
61.1
%
61.1
%
-
642
417
53.7
%
53.7
%
-
Intl
50
44
12.8
%
11.0
%
1.8
%
93
78
18.1
%
20.1
%
-2.0
%
WW
414
271
53.3
%
53.0
%
0.3
%
734
496
48.1
%
48.4
%
-0.3
%
OTHER NEUROSCIENCE
US
45
57
-23.5
%
-23.5
%
-
73
115
-37.0
%
-37.0
%
-
Intl
226
237
-4.7
%
-7.6
%
2.9
%
474
524
-9.5
%
-8.8
%
-0.7
%
WW
270
294
-8.4
%
-10.7
%
2.3
%
547
639
-14.4
%
-13.9
%
-0.5
%
See footnotes at end of schedule
REPORTED SALES vs. PRIOR PERIOD ($MM)
REPORTED SALES vs. PRIOR PERIOD ($MM)
SECOND QUARTER
SIX MONTHS
% Change
% Change
PULMONARY HYPERTENSION
US
$
799
743
7.6
%
7.6
%
-
$
1,543
1,509
2.3
%
2.3
%
-
Intl
314
296
5.8
%
2.8
%
3.0
%
595
579
2.6
%
3.0
%
-0.4
%
WW
1,113
1,039
7.1
%
6.2
%
0.9
%
2,138
2,088
2.4
%
2.5
%
-0.1
%
OPSUMIT / OPSYNVI
US
403
376
6.9
%
6.9
%
-
766
732
4.6
%
4.6
%
-
Intl
180
171
5.4
%
2.1
%
3.3
%
339
340
-0.3
%
-0.2
%
-0.1
%
WW
582
548
6.4
%
5.4
%
1.0
%
1,104
1,072
3.0
%
3.1
%
-0.1
%
UPTRAVI
US
382
349
9.4
%
9.4
%
-
747
741
0.8
%
0.8
%
-
Intl
94
76
22.4
%
19.8
%
2.6
%
180
152
17.9
%
18.7
%
-0.8
%
WW
476
426
11.7
%
11.3
%
0.4
%
927
894
3.7
%
3.8
%
-0.1
%
OTHER PULMONARY HYPERTENSION
US
16
17
-12.4
%
-12.4
%
-
31
35
-12.6
%
-12.6
%
-
Intl
40
49
-18.5
%
-21.3
%
2.8
%
77
88
-12.4
%
-12.1
%
-0.3
%
WW
55
67
-16.9
%
-19.0
%
2.1
%
107
123
-12.5
%
-12.3
%
-0.2
%
INFECTIOUS DISEASES
US
320
334
-4.3
%
-4.3
%
-
635
658
-3.6
%
-3.6
%
-
Intl
484
631
-23.4
%
-26.8
%
3.4
%
971
1,128
-13.9
%
-14.1
%
0.2
%
WW
803
965
-16.8
%
-19.0
%
2.2
%
1,605
1,786
-10.1
%
-10.2
%
0.1
%
EDURANT / rilpivirine
US
6
8
-25.4
%
-25.4
%
-
14
16
-13.6
%
-13.6
%
-
Intl
354
288
23.0
%
16.7
%
6.3
%
704
603
16.7
%
15.6
%
1.1
%
WW
360
297
21.6
%
15.5
%
6.1
%
718
620
15.9
%
14.9
%
1.0
%
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US
312
321
-3.0
%
-3.0
%
-
617
635
-2.9
%
-2.9
%
-
Intl
85
117
-27.0
%
-29.4
%
2.4
%
183
221
-17.2
%
-15.8
%
-1.4
%
WW
396
438
-9.4
%
-10.0
%
0.6
%
799
856
-6.6
%
-6.3
%
-0.3
%
OTHER INFECTIOUS DISEASES
US
2
5
-51.8
%
-51.8
%
-
4
7
-37.4
%
-37.4
%
-
Intl
45
227
-80.5
%
-80.6
%
0.1
%
84
304
-72.5
%
-72.1
%
-0.4
%
WW
47
233
-79.8
%
-79.9
%
0.1
%
88
311
-71.7
%
-71.3
%
-0.4
%
CARDIOVASCULAR / METABOLISM / OTHER
US
776
717
8.2
%
8.2
%
-
1,631
1,348
21.0
%
21.0
%
-
Intl
154
176
-12.3
%
-13.2
%
0.9
%
312
373
-16.2
%
-14.3
%
-1.9
%
WW
930
892
4.2
%
4.0
%
0.2
%
1,943
1,721
12.9
%
13.3
%
-0.4
%
XARELTO
US
621
587
5.6
%
5.6
%
-
1,311
1,105
18.6
%
18.6
%
-
Intl
-
-
-
-
-
-
-
-
-
-
WW
621
587
5.6
%
5.6
%
-
1,311
1,105
18.6
%
18.6
%
-
OTHER
US
155
129
20.0
%
20.0
%
-
320
243
31.6
%
31.6
%
-
Intl
154
176
-12.3
%
-13.2
%
0.9
%
312
373
-16.2
%
-14.3
%
-1.9
%
WW
309
305
1.4
%
0.9
%
0.5
%
632
616
2.7
%
3.9
%
-1.2
%
TOTAL INNOVATIVE MEDICINE
US
9,161
8,510
7.6
%
7.6
%
-
17,253
16,122
7.0
%
7.0
%
-
Intl
6,041
5,980
1.0
%
-1.6
%
2.6
%
11,822
11,930
-0.9
%
-0.1
%
-0.8
%
WW
$
15,202
14,490
4.9
%
3.8
%
1.1
%
$
29,075
28,052
3.6
%
4.0
%
-0.4
%
See footnotes at end of schedule
REPORTED SALES vs. PRIOR PERIOD ($MM)
REPORTED SALES vs. PRIOR PERIOD ($MM)
SECOND QUARTER
SIX MONTHS
% Change
% Change
CARDIOVASCULAR
US
$
1,364
1,119
21.9
%
21.9
%
-
$
2,625
2,144
22.4
%
22.4
%
-
Intl
948
753
25.9
%
22.9
%
3.0
%
1,790
1,534
16.7
%
16.7
%
0.0
%
WW
2,313
1,873
23.5
%
22.3
%
1.2
%
4,416
3,679
20.0
%
20.0
%
0.0
%
ELECTROPHYSIOLOGY
US
741
705
5.1
%
5.1
%
-
1,425
1,397
2.0
%
2.0
%
-
Intl
728
618
17.8
%
15.2
%
2.6
%
1,366
1,270
7.6
%
7.8
%
-0.2
%
WW
1,468
1,323
11.0
%
9.8
%
1.2
%
2,791
2,667
4.7
%
4.7
%
0.0
%
ABIOMED
US
360
309
16.6
%
16.6
%
-
699
612
14.2
%
14.2
%
-
Intl
89
72
25.0
%
18.4
%
6.6
%
170
139
22.4
%
20.9
%
1.5
%
WW
448
379
18.2
%
16.9
%
1.3
%
868
750
15.7
%
15.5
%
0.2
%
SHOCKWAVE (6)
US
233
77
*
*
-
439
77
*
*
-
Intl
58
0
*
*
*
110
0
*
*
*
WW
292
77
*
*
*
550
77
*
*
-
OTHER CARDIOVASCULAR
US
31
29
5.4
%
5.4
%
-
63
59
6.3
%
6.3
%
-
Intl
72
64
13.4
%
11.6
%
1.8
%
144
126
14.2
%
14.5
%
-0.3
%
WW
104
93
10.8
%
9.7
%
1.1
%
207
185
11.7
%
11.8
%
-0.1
%
ORTHOPAEDICS
US
1,420
1,422
-0.2
%
-0.2
%
-
2,804
2,870
-2.3
%
-2.3
%
-
Intl
885
890
-0.5
%
-4.0
%
3.5
%
1,742
1,782
-2.2
%
-2.4
%
0.2
%
WW
2,305
2,312
-0.3
%
-1.6
%
1.3
%
4,546
4,652
-2.3
%
-2.3
%
0.0
%
HIPS
US
271
265
2.1
%
2.1
%
-
534
535
-0.2
%
-0.2
%
-
Intl
150
152
-1.0
%
-4.3
%
3.3
%
296
304
-2.5
%
-2.6
%
0.1
%
WW
421
417
1.0
%
-0.2
%
1.2
%
830
839
-1.1
%
-1.1
%
0.0
%
KNEES
US
226
230
-1.9
%
-1.9
%
-
457
472
-3.1
%
-3.1
%
-
Intl
164
163
0.0
%
-2.9
%
2.9
%
322
323
-0.5
%
-0.4
%
-0.1
%
WW
389
394
-1.1
%
-2.3
%
1.2
%
778
795
-2.0
%
-2.0
%
0.0
%
TRAUMA
US
501
498
0.7
%
0.7
%
-
1,003
1,002
0.1
%
0.1
%
-
Intl
267
260
2.2
%
-1.5
%
3.7
%
537
521
2.9
%
2.8
%
0.1
%
WW
768
759
1.2
%
-0.1
%
1.3
%
1,540
1,524
1.1
%
1.0
%
0.1
%
SPINE, SPORTS & OTHER
US
422
430
-1.7
%
-1.7
%
-
810
862
-6.0
%
-6.0
%
-
Intl
305
314
-2.7
%
-6.4
%
3.7
%
588
634
-7.2
%
-7.7
%
0.5
%
WW
727
743
-2.1
%
-3.7
%
1.6
%
1,398
1,495
-6.5
%
-6.7
%
0.2
%
See footnotes at end of schedule
REPORTED SALES vs. PRIOR PERIOD ($MM)
REPORTED SALES vs. PRIOR PERIOD ($MM)
SECOND QUARTER
SIX MONTHS
% Change
% Change
SURGERY
US
$
1,043
995
4.8
%
4.8
%
-
$
2,045
1,982
3.2
%
3.2
%
-
Intl
1,512
1,493
1.3
%
-0.2
%
1.5
%
2,906
2,922
-0.5
%
0.3
%
-0.8
%
WW
2,555
2,488
2.7
%
1.8
%
0.9
%
4,951
4,904
1.0
%
1.5
%
-0.5
%
ADVANCED
US
477
466
2.2
%
2.2
%
-
934
912
2.4
%
2.4
%
-
Intl
687
675
1.9
%
0.2
%
1.7
%
1,303
1,316
-1.0
%
-0.4
%
-0.6
%
WW
1,164
1,141
2.0
%
1.0
%
1.0
%
2,237
2,228
0.4
%
0.8
%
-0.4
%
GENERAL
US
567
528
7.2
%
7.2
%
-
1,111
1,070
3.8
%
3.8
%
-
Intl
825
818
0.9
%
-0.6
%
1.5
%
1,603
1,606
-0.1
%
0.8
%
-0.9
%
WW
1,391
1,346
3.3
%
2.5
%
0.8
%
2,714
2,676
1.4
%
2.0
%
-0.6
%
VISION
US
557
523
6.5
%
6.5
%
-
1,123
1,070
4.9
%
4.9
%
-
Intl
813
763
6.5
%
3.4
%
3.1
%
1,526
1,473
3.6
%
3.7
%
-0.1
%
WW
1,369
1,285
6.5
%
4.6
%
1.9
%
2,648
2,543
4.1
%
4.2
%
-0.1
%
CONTACT LENSES / OTHER
US
429
409
4.8
%
4.8
%
-
881
847
3.9
%
3.9
%
-
Intl
536
509
5.4
%
1.4
%
4.0
%
1,003
981
2.3
%
1.9
%
0.4
%
WW
965
918
5.1
%
2.9
%
2.2
%
1,884
1,828
3.1
%
2.8
%
0.3
%
SURGICAL
US
128
113
12.6
%
12.6
%
-
242
223
8.5
%
8.5
%
-
Intl
277
254
8.8
%
7.3
%
1.5
%
523
492
6.2
%
7.2
%
-1.0
%
WW
403
367
9.9
%
8.9
%
1.0
%
764
715
6.9
%
7.6
%
-0.7
%
TOTAL MEDTECH
US
4,383
4,059
8.0
%
8.0
%
-
8,596
8,067
6.6
%
6.6
%
-
Intl
4,158
3,898
6.7
%
4.1
%
2.6
%
7,965
7,711
3.3
%
3.6
%
-0.3
%
WW
$
8,541
7,957
7.3
%
6.1
%
1.2
%
$
16,561
15,778
5.0
%
5.1
%
-0.1
%
Expand
Note: Columns and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely
* Percentage greater than 100% or not meaningful
(1) Operational growth excludes the effect of translational currency
(2) Unaudited
(3) Includes the sales of RYBREVANT and RYBREVANT + LAZCLUZE
(4) Reported as U.S. sales
(5) Acquired with Intra-Cellular Therapies on April 2, 2025
(6) Acquired on May 31, 2024
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'Fresenius Kabi's deep commercialization experience and commitment to biosimilars make them an ideal partner for bringing PB016 to patients worldwide. Together, we are taking an important step toward addressing the rising burden of chronic inflammatory diseases.' The agreement builds on Polpharma Biologics' growing biosimilar portfolio and proven development capabilities. The company has previously brought forward multiple biosimilars — including ranibizumab and natalizumab — across global markets in partnership with leading pharmaceutical companies. This strategic collaboration strengthens both companies' commitments to expanding global access to affordable biologic medicines while supporting healthcare system sustainability. *Entyvio® is a registered trademark of Takeda. About Polpharma Biologics: Polpharma Biologics is an international biotechnology company with integrated operations in the European Union (EU), developing and manufacturing biosimilar medicines. Using patented solutions and state-of-the-art platform technologies, Polpharma Biologics develops biosimilar products to treat a range of conditions in major therapeutic areas. Programs at Polpharma Biologics start in cell line development and transition through technical and clinical development to commercial-scale production preparing drugs for future commercial partnerships with global pharmaceutical organizations. The expertise of Polpharma Biologics lies in the development and manufacture of medicines based on microbial and mammalian expression systems. With its cell line development center in the Netherlands and two centers of development and manufacturing in Poland, Polpharma Biologics creates growth and development opportunities for biotechnology specialists. Learn more at About Fresenius Kabi: As part of the global healthcare company Fresenius, Fresenius Kabi specializes in (bio)pharmaceuticals, medical technologies and nutrition products for critical and chronic conditions. The company's products, technologies, and services are used for the therapy and care of critically and chronically ill patients. With more than 41,000 employees and present in over 100 countries, Fresenius Kabi's expansive product portfolio focuses on providing access to high-quality and lifesaving medicines and technologies. For more information, please visit Important Note This press release is for informational purposes only and does not constitute promotional material for PB016 in Poland or any other jurisdiction. The commercialization of proposed vedolizumab biosimilar PB016 is solely the responsibility of Fresenius Kabi, the marketing authorization holder, in accordance with all applicable laws and regulations. Disclaimer This press release is issued from Polpharma Biologics Group and is intended to provide worldwide information to healthcare professionals, media and (potential) investors about our global business in relation to drug development and manufacturing expertise. Although Polpharma Biologics Group is not a public company as of this date, recipients should understand that this press release contains certain forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995). These statements involve inherent risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the approval and commercialization of the medicinal product, market reception, competition, changes in economic conditions and applicable laws, global regulatory developments, contractual risks and dependencies from third parties. Polpharma Biologics undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release. Moreover, Polpharma Biologics wishes to emphasize that this press release is for informational purposes only and shall not be construed as making any representation, warranties, or guarantees, either express or implied, regarding the potential approval, market reception, commercialization, or success of the medicinal product or any other product or therapy.
Business Wire
5 minutes ago
- Business Wire
Data Sovereignty Shapes Netherlands Cloud Strategies
AMSTERDAM--(BUSINESS WIRE)--Enterprises in the Netherlands are shifting to hybrid and multicloud environments for agility, security and compliance, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm. The Dutch market is experiencing rapid growth in sovereign and hybrid cloud adoption. This trend aligns closely with sustainability initiatives that are also influencing data center investments. The 2025 ISG Provider Lens® Private/Hybrid Cloud — Data Center Services report for the Netherlands finds demand for sovereign cloud solutions rising as data protection and digital sovereignty mandates grow stricter and more coordinated. Dutch enterprises, particularly in regulated sectors such as healthcare, finance and government, are seeking cloud architectures that ensure sensitive data remains within national boundaries. 'The Dutch market is experiencing rapid growth in sovereign and hybrid cloud adoption,' said Anthony Drake, partner at ISG. 'This trend aligns closely with sustainability initiatives that are also influencing data center investments.' The Netherlands is emerging as a leading European market for colocation and edge computing, driven by enterprise demand for secure, sustainable and compliant data centers, the report says. As edge computing grows, many organizations are also using colocation centers for faster data processing that is available closer to users. Sustainability goals are driving Dutch enterprises toward green data center operations, with more than 80 percent of centers already powered by renewable energy, ISG says. Enterprises adopt measures such as advanced cooling technologies, waste heat reuse and renewable energy integration to enhance operational efficiency, comply with environmental laws and meet national climate targets. Many Dutch companies are adopting advanced technologies such as AI, ML and real-time monitoring to strengthen cloud operations and security, the report says. Industries including healthcare and finance embrace robust security models such as zero trust to protect complex cloud environments. Amid this evolution, providers are addressing skills shortages by expanding managed services and automation, helping clients address cloud complexity. Enterprises in the Netherlands increasingly seek flexible, customized cloud solutions that go beyond basic infrastructure to support efficient workload migration, seamless integration and enhanced security for sensitive data, ISG says. Companies need these environments to ensure greater operational control, improved performance and adherence to evolving data protection regulations. 'Dutch enterprises are prioritizing adaptable cloud strategies to navigate changing technology demands,' said Meenakshi Srivastava, lead analyst, ISG Provider Lens Research, and lead author of the report. 'They prefer tailored services that simplify compliance while providing strong protection.' The report also explores other cloud trends in the Netherlands, including the requirement for cloud portability and interoperability to avoid vendor lock-in and the deployment of adaptive AI solutions to streamline complex business processes. For more insights into the cloud-related challenges faced by Dutch enterprises, along with ISG's advice for addressing them, see the ISG Provider Lens® Focal Points briefing here. The 2025 ISG Provider Lens® Private/Hybrid Cloud — Data Center Services report for the Netherlands evaluates the capabilities of 48 providers across three quadrants: Managed Services, Colocation Services and AI-Ready Infrastructure Consulting. The report names Accenture, Capgemini, Kyndryl and TCS as Leaders in two quadrants each. Atos, Cognizant, CyrusOne, Digital Realty, DXC Technology, Equinix, Eurofiber Cloud Infra, maincubes, NorthC Datacenters, NTT DATA, QTS and Wipro are named as Leaders in one quadrant each. In addition, LTIMindtree and nLighten are named as Rising Stars — companies with a 'promising portfolio' and 'high future potential' by ISG's definition — in one quadrant each. In the area of customer experience, Persistent Systems is named the global ISG CX Star Performer for 2025 among private/hybrid cloud and data center service providers. Persistent Systems earned the highest customer satisfaction scores in ISG's Voice of the Customer survey, part of the ISG Star of Excellence™ program, the premier quality recognition for the technology and business services industry. The 2025 ISG Provider Lens® Private/Hybrid Cloud — Data Center Services report for the Netherlands is available to subscribers or for one-time purchase on this webpage. About ISG Provider Lens® Research The ISG Provider Lens® Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Mexico, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage. About ISG ISG (Nasdaq: III) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world's top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data, in-depth knowledge of provider ecosystems, and the expertise of its 1,600 professionals worldwide working together to help clients maximize the value of their technology investments.
