Johnson & Johnson

"Johnson & Johnson delivered strong underlying growth in 2015, driven by the performance of our Pharmaceutical business and iconic Consumer brands," said Alex Gorsky, Chairman and Chief Executive Officer. "As we enter 2016, our core business is very healthy, and the recent decisive actions we've taken in support of each of our businesses position us well to drive sustainable long-term growth, faster than the markets we compete in."

Positive contributors to Consumer operational results were sales of over-the-counter products including TYLENOL and MOTRIN analgesics, upper respiratory products including ZYRTEC allergy medications, and digestive health products; international feminine protection products; LISTERINE oral care products; and NEUTROGENA skin care products.

Worldwide operational sales growth was driven by new products and the strength of core products. New product sales growth was negatively impacted by lower sales of OLYSIO /SOVRIAD (simeprevir) due to competitive entrants. Strong growth in new products include INVOKANA /INVOKAMET (canagliflozin), for the treatment of adults with type 2 diabetes; IMBRUVICA (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, or blood cancers; XARELTO (rivaroxaban), an oral anticoagulant; and ZYTIGA (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic, castration-resistant prostate cancer.

In 2015, Johnson & Johnson acquired Novira Therapeutics, Inc., a privately held clinical-stage biopharmaceutical company developing innovative therapies for curative treatment of chronic hepatitis B virus infection.

History

Robert Wood Johnson realized the dangers of unclean hospitals and surgery rooms leading to patient infections and death. Mr. Johnson joined with his two brothers, James Wood and Edward Mead Johnson, who had formed a partnership in 1885 to develop sterile dressings for hospitals. Operations began in New Brunswick, NJ, in 1886 with 14 employees on the fourth floor of a small building that once was a wallpaper factory. In 1887 the Company was incorporated as Johnson & Johnson. With few hospitals in the United States in 1887 large enough to use Lister's methods of antisepsis, Johnson & Johnson entered the surgical dressings industry.

The first products were improved medicinal plasters containing medical compounds mixed in an adhesive. Then a revolutionary surgical dressing was quickly developed and placed on the market. Recognizing the critical need for improved antiseptic surgical procedures, the Company designed a soft, absorbent cotton and gauze dressing that could be mass produced and shipped in quantity to hospitals and every crossroads physician and druggist.

Johnson & Johnson went public in 1944 on the New York Stock Exchange.

The company's best-known prodcuts include:

JOHNSON'S Baby Powder, from Johnson & Johnson Consumer Products Company Division of Johnson & Johnson Consumer Companies, Inc., introduced in 1893.

BAND-AID Brand Adhesive Bandages, from Johnson & Johnson Consumer Products Company Division of Johnson & Johnson Consumer Companies, Inc., introduced in 1921.

TYLENOL (acetaminophen), from McNeil Consumer Healthcare Division of McNEIL-PPC, Inc.,launched as a consumer product in 1960.

The company purchased Pfizer's consumer healthcare business for $16.6 billion in cash in 2006 which brings in well-known brands Listerine, Benadryl and BenGay.

Benefits

Medical Coverage - Johnson & Johnson's "Choices" benefits program offers a selection of medical plans, ranging from comprehensive HMO coverage to traditional reimbursement-type plans.
Dental Coverage - Our "Choices" benefits program also offers a comprehensive dental plan which includes coverage for routine preventive care, oral surgery and similar procedures, as well as orthodontic care for dependent children.
Reimbursement Accounts - We offer individual Health Care and Dependent Care Accounts that let employees use pre-tax dollars to pay for out-of-pocket medical and dependent care expenses, respectively, for themselves or their dependents.

Life Insurance
We offer both Term and Universal life insurance plans to help with financial security in the unfortunate case of an employee's own death, or the death of a covered dependent. 
- Term Life Insurance covers employees for the length of their employment at Johnson & Johnson.
- Universal Life Insurance is portable - employees can continue using the coverage when they leave the company for any reason, including retirement.
- Dependent Life Insurance, which is Term coverage, is available for spouses and children up to age 23.
We pay for a basic Term Life Insurance benefit equal to the employee's annual salary to a maximum of $250,000. Additional coverage is available in either Term or Universal, up to five times the employee's annual salary.
Disability Insurance
Disability insurance helps meet continuing financial obligations if an employee is temporarily or permanently disabled.
- Short-Term Disability is provided free of charge for all full-time employees who cannot work for up to 26 weeks.
- Long-Term Disability options are available, which provide coverage that would begin after 26 weeks.
Long-Term Care
Long-Term Care Insurance provides coverage for the cost of assistance with everyday living activities involving nursing home care and other community-based support services. This coverage can be continued when employees leave the company for any reason, including retirement.
Accident Insurance
Accident Insurance pays a one-time benefit in the event an employee or covered dependent dies, loses a limb or sight, or suffers a total and permanent disability as a result of an accident.
- Business Accident Insurance pays a benefit when the accident occurs while on company business. Basic coverage is free, and additional coverage may be purchased.
- 24-Hour Accident Insurance pays a benefit regardless of when or where the accident occurs. This coverage is at the employee's option and expense.
- Dependent Accident Insurance, which is 24 hour coverage, is available for spouses and dependent children through age 23.

401(k) Savings Plan
In our 401(k) Savings Plan, you can save up to 35 percent of your base pay (including 50 percent of sales commissions paid). (Government limitations may affect the actual amount you can contribute.) To help you build value faster, after one year of service, Johnson & Johnson will match 75 percent of the first 6 percent of base pay contributed to the Plan. For example, if you contribute $100, we contribute an additional $75. That's a 75 percent return, and an additional 4.5 percent of salary in tax-deferred income. Of the 75 percent Company Match, 50 percent is provided in cash and 25 percent is provided in shares of Johnson & Johnson Common Stock. Of course, employees select their own Plan investment funds in which to invest their cash contributions, and can choose between tax-deferred or after-tax contributions. 
Pension Plan
Johnson & Johnson's Pension Plan is an important benefit for employees to consider throughout their careers, and as they plan for retirement. Your pension is based on your earnings during the most recent employment years with us, as well as the total number of years of service you have with our company. So your pension benefit grows as your career with us grows.

Updated January 31, 2016