jnj earnings call 2020

Testing is more readily available. And similar to the first quarter, these assumptions are the most ambiguous at this time. We continue to increase the overall value of our new product pipeline and are shifting to more substantial and transformational innovation. Moving now to immunology, globally sales grew 1.9% in the third quarter, driven by double-digit growth in STELARA and TREMFYA partially offset by continued erosion in REMICADE due to biosimilar competition. On the heels of some really promising Phase 1 and 2a data, we initiated a single dose Phase 3 study called ENSEMBLE a few weeks ago on September 21 in the United States, and we're in the process of opening numerous sites globally. We believe we have a responsibility to step in and invest in solutions for global public health crisis and are proud to be contributing to the global response to COVID-19. And then did receive FDA breakthrough device designation on our myopia control lens. The UK is still below 50%. He will then conclude with our 2020 guidance, and qualitative expectations as we’re positioned for a strong start to 2021. Next question is from Bob Hopkins with Bank of America. It sounded to me that you were redesigning, if I heard you right, the program to integrate the two systems. I think the general sentiment is that they are better prepared in terms of the kind of equipment that they have on hand. Not surprisingly, urgent procedures declined at a lesser rate than procedures considered deferrable. Excluding the net impact of acquisitions and divestitures, adjusted operational sales decline was 8.8% worldwide, 8.1% in the US and 9.4% outside the US. Our oral care franchise was positively impacted by COVID-19 as the franchise grew 6.3% from strong demand of adult LISTERINE primarily in the US across multiple channels. And in our remaining Consumer Health franchises, Baby Care, Women's Health and Wound Care/Other all declined primarily due to COVID-19. But we are seeing improvement in recent weeks for those areas. Knees and spine also showed improvement globally throughout the quarter with June declines of around 21% and 15%, respectively. And we are working with them to ensure the broadest possible access to people around the world. And given COVID-19’s impact on 2020, we expect to deliver robust double-digit operational sales growth. What I can say is, as an industry group, we really have come together. Hi. Moving on to operational sales. And availability of a vaccine will be starting early next year. So we will be able to administer a very high single dose, which will be enabled in our Zika and in our RSV, will elicit a very strong neutralizing antibody response as well as a cellular immunity response with one single dose. As you heard from Chris, this quarter, again, we have seen that our consumer brands have been very resilient during this unprecedented time. So essentially, on income, we are estimating no year-on-year impact from currency. Joe, I will now turn it over to you. Our total pulmonary hypertension portfolio posted double-digit growth of 15%, driven by strong growth of OPSUMIT and UPTRAVI of 17.6% and 39.5%, respectively, driven by increased market penetration and share growth. So those are two things to consider, one from this year and one from last year. Growth outside of the US was also driven by Asia-Pacific from promotional activities and new product launches of adult LISTERINE. First of all, thank you very much for the question. So, we think relative to our competitive set, that we are very well positioned for this future environment. Joaquin, maybe you want to answer the new-to-brand? For example, according to IQVIA, office visits are down approximately 10% to 15% as of late June compared to the earlier stages of the pandemic in mid-April when office visits were down almost 70%. The impact was primarily related to COVID-19, providing enhanced insight into the level and mix of inventory in our distributor channel, resulting in the need to increase our reserves. Year-to-date, immunology growth was 5.7%. Remarkably, over 700,000 tests now occur daily in the US alone. So we worked really hard to maximize the value of our industry-leading portfolio of marketed medicines. And then secondarily, if unemployment levels stay where they are, what type of headwinds you expect in 2021 and whether those have been baked into that 2021 outlook? Let me respond to the first, and then I’ll ask Paul obviously to cover the second. Maybe I can take the question on the EGFR-cMet antibody amivantamab. Chris, this is Joe. You may recall Q1 was very strong, with a modest piece of that strength attributable to pharmacy providers offering longer prescription durations, which slightly impacted Q2 results negatively. Performance was also negatively impacted by a comparison to strong double-digit adjusted growth in the third quarter of 2019. Good morning, everyone, and thank you for joining us today. Just when you talk at the end of June, 85% to 95% of pre-COVID levels and the spike in cases in the South, are you seeing other parts of the world offset that? This is an indicator for our Pharmaceutical and Medical Device segments. For the quarter, net earnings were $3.6 billion and diluted earnings per share was $1.36 versus diluted earnings per share of $2.08 a year ago. And really, obviously, with China leading the way, but we also saw positives in areas like Germany, in areas like Russia. A single dose of a safe and effective vaccine could offer a significant advantage during a global pandemic. Finally, a portion of the population will have developed antibodies. I'm really proud of the Pharmaceuticals group performance in the third quarter. While not providing guidance related to 2021 at this time, I'd like to provide some early perspectives on how we are thinking about next year for consideration in your financial modeling. And as you might expect, anticipate to deliver robust double-digit sales growth. And how many patients have you dosed thus far? So if you look at this, it means that our range for quarter 4 could be consistent with the results we delivered in quarter 3, a kind of one-bookend to then delivering some modest growth versus 2019 last year. Currently, the company pays an annual dividend of $4.04 per share. I hope everyone is healthy and continues to remain safe during these times. Just for background, our payer mix now, it's about 50% commercial and about 40% -- 43% Medicare and Medicaid: Medicare being 37%, Medicaid 6%. We are excited to share that TREMFYA received FDA approval earlier this week for adult patients with active psoriatic arthritis. Because in many cases just as they were beginning to ramp back up with elective procedures and bring staffing back on, now they’re having to, in many cases, reallocate it based upon the surge that they’re seeing take place. Internationally, sales grew double digits at 11%, offsetting a slight decline in the US of under 1%. This means the results could change at any time and the contemplated impact of COVID-19 on the company's business results and outlook is a best estimate based on the information available as of today's date. Next, Paul will provide an update on our vaccine platform, including our efforts to develop and manufacture a COVID-19 vaccine. Sure. Rob, are you there? Are you still going to seek EUA approval based on the Phase I/II trial? Several of the products and compounds discussed today are being developed in collaboration with strategic partners or licensed from other companies. And it will be a few days at minimum for the right set of information to be gathered and evaluated.

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