Johnson & Johnson
Industry: Major Drugs

Johnson & Johnson is the world's most comprehensive and broadly based manufacturer of health care products, as well as a provider of related services, for the consumer, pharmaceutical and medical devices and diagnostics markets. Johnson & Johnson has 197 operating companies in 54 countries around the world employing 107,000 employees and selling products in more than 175 countries. The fundamental objective of Johnson & Johnson is to provide scientifically sound, high quality products and services to help heal, cure disease and improve the quality of life. This is a goal that began with the Company's founding in 1886.

Business Summary
Johnson & Johnson is engaged in the manufacture and sale of a range of products in the healthcare field. Johnson & Johnson has over 200 subsidiaries that conduct business worldwide. The Company focuses in products related to human health and well being. Johnson & Johnson is organized on the principle of decentralized management. The Company's operations are categorized into Consumer, Pharmaceutical and Medical Devices and Diagnostics. The international business of Johnson & Johnson is conducted by subsidiaries located in 56 countries outside the United States. Sales of the Company's two largest products, PROCRIT and RISPERDAL, each accounted for over 5% of Johnson & Johnson's total revenues during the fiscal year ended January 2, 2005 (fiscal 2004).

Financial Summary
For the nine months ended 30 September 2005, Johnson & Johnson's revenues increased 10% to $37.9B. Net income for the period increased 13% to $8.23B. Revenues reflect a positive impact of currency fluctuations and strong sales performance in worldwide Medical Devices and Diagnostics and Consumer segments. Higher net income reflects favorable product mix, cost improvement initiatives, and higher net interest income.