A：For the first quarter, Johnson and Johnson reported operational sales growth of 6.4% and focus on areas of high innovation, high medical need, and high growth, which is delivering results across its three key businesses.

A：The Johnson and Johnson pipeline contributes to the company's future plans by offering a diverse and robust set of product platforms and assets, which are expected to drive sustained growth and provide a strong competitive advantage. With 28 platforms or products generating at least $100 billion in annual revenue, the pipeline is a key driver of future success and is anticipated to contribute to achieving the $100 billion annual revenue target by the end of the decade.

A：Operational sales growth was reported in several therapeutic areas in the first quarter: Innovative Medicine with 8.4% growth, driven by Darzalex's performance in multiple myeloma; Immunology with 11.9% growth, bolstered by the addition of Icty for first-line treatment of plaque psoriasis; Neuroscience with 4.6% growth, including the US launch of Kalista in adjunctive major depressive disorder; and Metabolics with 4.6% growth, marked by the cardiovascular franchise's sustained growth and Johnson and Johnson's leadership in the field.

A：Johnson and Johnson reported worldwide sales of $24.1 billion for the first quarter, with a 6.4% increase despite challenges from currency translation. The US reported 8.3% growth, while international markets reported 3.9% growth. Acquisitions and divestitures positively impacted growth by 100 basis points, primarily due to the intra-cellular acquisition. Net earnings were $8.6 billion and diluted earnings per share were $3.59. Adjusted net earnings were $6.6 billion and adjusted diluted earnings per share were $2.85, representing a decrease of 19.7% and 22.5%, respectively, compared to the first quarter of 2025.

A：Alita, acquired in Q2 of 2025, delivered sales of $270 million with continued strong momentum in its amdd launch since amdd approval in the US. The Medtech business grew worldwide sales by 4.6%, with 5.9% growth in the US and 8.6 billion in total sales. Growth was attributed to cardiovascular surgery and vision products, with cardiovascular electrophysiology delivering growth driven by newly launched products such as variolous and a continued strong adoption of the impeller technology shockwave. Vision contact lenses and other products showed growth, supported by strong performance in the accuvote oasis Ed day family of products and strategic price actions.

A：The cost of goods sold deleveraged by 59 basis points, primarily due to the impact of tariffs and other operational drivers in the Medtech business, an unfavorable mix in the innovative medicine business, but partially offset by favorable translational currency. Other income and expense turned from a net income of $128 million in the first quarter of 2025 to a net expense of $294 million in the first quarter of 2026, with the change primarily driven by the approximate query dollar talc reserve reversal in the first quarter of 2026.

A：The company ended the first quarter with approximately $22 billion of cash and marketable securities and $55 billion of debt, maintaining a strong financial position and cash flow generation. Free cash flow in the first quarter was approximately $11.4 billion, suggesting a run rate below the full year projection as Q1 reflects payment timing changes on certain US rebate programs and increased US capital expenditures. Despite this, the company remains confident in its full year free cash flow outlook of approximately $21 billion. The company invests in future innovation and plans to invest $55 billion in US-based manufacturing technology and research and development through early 2026, with significant investment already underway. An increased annual dividend rate was also announced, marking the company's 16th consecutive year of dividend growth.

A：The updated operational sales guidance is in the range of 6% to 8% and with a midpoint of $11.95 billion or 7%. With the right rate to the US dollar as of last week, the euro spot rate has stayed relatively flat with modest benefit from other major currencies. As a result, the company estimates reported sales growth between 5% to 7.5% with a midpoint of $100.8 billion, or 7%.

A：The company expects a pretax operating margin to improve by at least 60 basis points, driven by continued operating efficiencies with a portion reinvested to support new product launches and further strengthen the pipeline. Net interest expense, net other income, and the effective tax rate for the full year are being maintained. The guidance for adjusted operational earnings per share is increased by 1.2 cents to a range of $11.30 to $11.50, representing 5.7% growth at the midpoint. The company now expects reported adjusted earnings per share of $11.55 at the midpoint, or a growth of 7.1%.

A：The company anticipates fairly consistent operational sales growth throughout the year with a higher fourth quarter due to the benefit from the 53rd week of operations and the announced voluntary agreement with the US government to improve access to medicines and lower costs to US stations. Key product launches include icot I for certain types of bladder cancer, with sales slightly above script million dollars in the quarter, and Alexa, which received a permanent J code for reimbursement, serving as an important catalyst for growth in neuroscience. Additionally, kalita is building momentum following its FDA approval for adjunctive major depressive disorder and orthopedics business delivered a strong first quarter with encouraging momentum across key platforms.

A：The company is looking forward to regulatory approval for trumm FAA for the inhibition of structural joint damage for patients with psoriatic arthritis. Notably, there are important upcoming data presentations across oncology, immunology, and neuroscience, including studies on Alita and localized and locally advanced high-risk prostate cancer, lex and high-risk non-muscle vascular bladder cancer, J and J 4804 in ulcerative colitis and Crohn's disease, and Cap Lita in bipolar mania.

A：The new drug, ICO Ti, is positioned as a preferred first-line systemic therapy for patients with psoriasis. The company is seeing strong early enthusiasm from both physicians and patients. The drug was launched with a very differentiated label, which includes no lab monitoring, easy-to-use language, and no black box or drug interactions. Reimbursement coverage ramps and sampling plans are expected to be positive, aiming for early and broad access. As of the speech, over 1500 patients have already been prescribed the drug.

A：ICO Ti is significant as it is the first and only targeted oral peptide that precisely blocks the Il 23 receptor. It offers complete skin clearance, favorable safety, and the simplicity of a once-daily pill. The product is expected to become one of the company's biggest products. The company was day 1 launch ready for ICO Ti, with the first patient receiving medication within 24 hours of approval. Early enthusiasm from physicians and patients and positive feedback from the AAD meeting suggest that the product could be a preferred choice for systemic therapy.

A：The new drug, ICO Ti, is fitting into the company's portfolio well alongside another product, trom FIA. The guidelines from the International Psoriasis Foundation now state that after two trials of topical therapies, which last four weeks each, patients are eligible for systemic and advanced therapies. ICO Ti fits into this 'sweet spot' as the first choice systemic therapy for such patients.

A：Trom FIA holds a unique and distinct position in the company's portfolio as the first choice biologic. It is structurally and functionally different from other biologics and has demonstrated durable, complete skin clearance. In particular, it is the first and only biologic to show significant innovation in the treatment of structural damage, making it especially suitable for patients with active or suspected psoriatic arthritis or psoriatic arthritis. The company is excited about both agents going forward.

A：The study of ICO Ti in psoriatic arthritis is expected to read out later in the year. This is important considering that about a third of patients with psoriasis also develop psoriatic arthritis. Additionally, studies in inflammatory bowel diseases such as Crohn's and colitis are progressing through a phase II program.

A：The company's strategy in the medical device space is focused on higher growth and higher innovation markets, specifically prioritizing cardiovascular, vision, and surgery areas as part of its strategy to separate from orthopedics. This strategy is working, and the company is experiencing solid operational growth, achieving 4.6% in the first quarter despite seasonally subdued expectations. The quarter unfolded as anticipated, with growth across all businesses and regions, and the company is confident in its end markets and the robustness of its performance.

A：In the first quarter, the company faced some procedural softness and localized impact from severe weather in parts of the business. However, these challenges were not material or meaningful at an overall level. The company's area teams, along with its support and commercial teams, worked closely with healthcare providers to maintain continuity of service and ensure patient care was not adversely affected.

A：The key drivers for achieving double-digit top-line growth by the end of the decade include the continuing success of the company's strong portfolio and pipeline, particularly the new product launches that are anticipated to have a significant impact. These include the underappreciated potential of ICO Ti in psoriasis, psoriatic arthritis, and inflammatory bowel diseases, as well as the potential of other products in non-small cell lung cancer, head and neck cancer, colorectal cancer, and high-risk non-muscle invasive bladder cancer. The impact of the spin-off of the company's personal care business is also expected to further boost growth rates. Additional details on these factors will be provided in the company's upcoming enterprise review.

A：The company's focus is on investing behind its portfolio of new product launches and promising pipeline programs, particularly those that are at the every stage deals like the one done this year in oncology therapeutics.

A：The potential market expansion for the drug mentioned involves offering patients the convenience of a highly effective, once-a-day biologic. The company is looking to expand into the systemic market, which could include a significant impact and broader market expansion due to patient resistance to moving into biologics for various reasons such as needle phobia and perceptions around safety profiles.

A：The company's strategy to maintain its marketing leadership position in the medical device space includes focusing on the cardiovascular space, acquisitions that add high growth and high-margin businesses, robust technology pipelines, and clinical studies showing benefits of the technology. They also emphasize their evidence of innovation, having earned a reputation as an innovative disruptor with a portfolio of new catheters that have set new standards of care.

A：The company anticipates that Medtech will grow from a mid single-digit player into a higher single-digit player as they move towards the end of the decade. This growth is driven by catalysts in their surgery business, including the launch of new surgical robotic programs which they expect to be accretive to growth in the back half of the decade.

A：The company is making investments in prescriber and patient education for the new drug. They are also anticipating the importance of advertising to engage new patients who may be nervous about systemic therapy. The significance of the results from the iconic Ascend trial in ongoing commercial discussions is also highlighted as important.

A：Significant investment is being made in ICA Ti to ensure the brand can fulfill its potential for patients. This includes investments in clinical profile, safety, efficacy, ease of the product, and the launch with appropriate field teams. Additionally, best-in-class patient access and support services have been built out to assist patients in getting on and staying on the medicine.

A：The overall vision business delivered a solid first quarter with script sales growth consistent with expectations, despite a challenging start typical for the industry. US surgical vision declined by almost 3% in the quarter, which is attributed to competitive pressures from new market entrants. Contact lenses grew strongly, with Accu AI lens family and Max multifocal products contributing to this growth. The surgical vision business grew by 6%, led by premium IOLs such as Techno Odyssey and Pierce, and is seeing strong global momentum.

A：The surgical vision business is expected to experience accelerated growth in the back half of the year, supported by the introduction of premium IOLs and the upcoming launch of Techno Purity in the US. Globally, there has been a strong uptake of Techno Purity, with nearly half a million eyes benefiting from its premium features. The combination of Techno Odyssey and Techno Purity is anticipated to drive value and differentiation.

A：The co-antibody therapeutic, Janssen-480, combines Stremvia (IL-23 inhibitor) and golimumab (TNF inhibitor) and has the potential to be the first co-antibody therapeutic in the IBD space. The therapy is currently in Phase I studies for Crohn's and colitis and will present data at a medical conference. It aims to address the unmet need for patients not achieving complete remission with monotherapy, offering a dual therapy approach.

A：The Alexa product has been launched for BCG-unresponsive bladder cancer, targeting a large market opportunity with approximately 600,000 new diagnoses and 400,000 recurrent cases each year. It has been well-received by urologists and practices, as evidenced by the high start rate of eligible patients on the Alexa regimen post-approval. Following the J-code approval, new patient insertions increased over time, indicating market adoption. Alexa achieved the highest complete response rates for non-muscle invasive bladder cancer and has received breakthrough designation from the FDA and rapid review from the FDA. A unique go-to-market model combining innovative medicine and medtech businesses is being utilized to ensure urologists are up-to-date and fully trained to utilize the product.