ANNUAL REPORt 2011
Johnson & Johnson will continue to bring meaningful innovations to people around the world so they can live better and healthier lives.
We are deeply committed and dedicated to the people who use our products, our employees, the communities in which we live and work, and you, our shareholders. Most important, we will never lose sight of who we are.
ON tHE COVER
Matt Cox, who has type 1 diabetes and uses the waterproof ANIMAS® VIBE™ insulin pump, swam an English
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maintaining a disciplined approach to Our management team and employees managing our investments for growth and took critical actions to preserve the core our portfolio of broadly based businesses, values and strengths of our business. and staying true to our operating model and We remained committed to retaining the values. We have turned the corner on a trust of our patients and customers, taking particularly difficult period. responsibility and instituting new measures In 2011, the year Johnson & Johnson to ensure that our products live up to the celebrated its 125th anniversary, we high quality standards that our customers returned to sales growth, launched a expect and deserve. number of innovative new products to As 2011 came to a close, we moved through address unmet health care needs across the a turning point. The headwinds from patent globe, and advanced our pipelines, which expirations, tough portfolio choices, litigation today are among the best in the industry. matters and OTC product quality issues had We strengthened our product portfolios been, or were being, addressed. and leadership positions in many areas, At the same time, our continued Wi ll iam C. Wel dO n including immunology, oncology, surgical investments in research and development Chairman, Board of Directors,