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2019 Vault Rankings

At a Glance


The world's largest and most diverse medical device and diagnostics company

Great brand cachet for future résumés

Nationally recognized as a great place to work


Profits and revenues have suffered in recent years

Lay-offs are a fact of life at J&J

Large-scale recalls for consumer products in recent years

The Bottom Line

Johnson & Johnson is leading provider of consumer health, pharmaceutical and device products. It's also a leading employer, with a reputation for treating employees well.

About Johnson & Johnson

Johnson & Johnson (J&J) is a diversified health care giant operating through more than 260 companies located in more than 60 countries. Its Pharmaceuticals division is focused on manufacturing medicines for infectious diseases, neurological, cardiovascular, pulmonary hypertension, autoimmune, and oncology ailments. Top sellers are psoriasis drugs Remicade and Stelara and cancer drug Zytiga. J&J's Medical Devices division offers surgical equipment, orthopedic products, and contact lenses, among other items. Finally, J&J's Consumer business makes over-the-counter (OTC) drugs and products for baby, skin, oral, women's, and first-aid care. The company operates worldwide but makes about half of revenue in the US.


Johnson & Johnson is organized into three business segments: Pharmaceutical, Medical Devices and Consumer.

The Pharmaceuticals segment (accounting for about half of annual revenue) operates in six primary therapeutic areas: immunology, oncology, neuroscience, cardiovascular and metabolic diseases, infectious diseases, and pulmonary hypertension. The segment's operating companies include Janssen Biotech and Janssen Pharmaceuticals. Its top selling drugs are Remicade and Stelara for arthritis and other inflammatory conditions; each drug brings in more than $5 billion in annual sales. Other key drugs include schizophrenia medication Invega Sustenna, rheumatoid arthritis drug Simponi, AIDS therapy Prezista, cardiovascular drug Xarelto, hypertension drug Opsumit, and cancer treatments Zytiga, Imbruvica, Darzalex, and Velcade.

The Medical Devices segment (about 30% of sales) focuses on surgery, orthopedics, vision, and interventional (cardiovascular and neurovascular) products including orthopaedic products; general surgery, biosurgical, endomechanical and energy products; electrophysiology products to treat cardiovascular disease; and vision products such as disposable contact lenses and ophthalmic products related to cataract and laser refractive surgery.

The Consumer segment (nearly 15% of sales) includes beauty care brands Aveeno, Clean & Clear, and Neutrogena and a range of OTC pharmaceuticals including Tylenol, Sudafed, and Benadryl. Other offerings include baby care (Johnson's), oral care (Listerine), women's health (Stayfree, Carefree, and o.b.), and wound care products (Band-Aid and Neosporin).

Geographic Reach

Headquartered in New Brunswick, US, J&J has approximately 260 operating companies in 60 countries selling products around the world. It has research facilities in more than a dozen countries and operates in about 100 manufacturing facilities in North America, Asia, Europe, and the Middle East.

While the US and Europe represent the company's largest markets (accounting for about 50% and nearly 25% of sales, respectively). The Asia-Pacific region and Africa together account for nearly 20% of revenue, while the non-US Western Hemisphere accounts for nearly 5%.

Sales and Marketing

J&J distributes its pharmaceutical and medical device products to retailers, wholesalers, and health care providers including hospitals. Products are marketed to consumers and health professionals.

The company's consumer products are sold to the general public and sold online and to retail outlets and distributors throughout the world.

J&J's three largest customers are wholesalers that distribute products across all three segments, each representing between 10% and 15% of sales.

Advertising expenses worldwide, which comprised television, radio, print media and Internet advertising, were $2.2 billion in 2019, $2.6 billion in 2018 and $2.5 billion in 2017, respectively.

Financial Performance

In 2019, worldwide sales increased 1% to $82.1 billion as compared to an increase of 7% in 2018. Sales by U.S. companies were $42.1 billion in 2019 and $41.9 billion in 2018. This represents increases of 1% in 2019 and 5% in 2018.

The company's net income in 2019 fell by $178 million to $15.1 billion compared to $15.3 billion in 2018. The fall was due to the increase on their operating expenses.

Cash held by the company at the end of 2019 fell by $802 million to $17.3 billion compared to $18.1 billion in 2018. Cash provided by operations was $23.4 billion while cash used for investing and financing activities were $6.2 billion and $18.0 billion, respectively.


The Company announced plans to implement a series of actions across its Global Supply Chain that are intended to focus resources and increase investments in the critical capabilities, technologies and solutions necessary to manufacture and supply its product portfolio, enhance agility and drive growth. The Global Supply Chain actions will include expanding the use of strategic collaborations and bolstering initiatives to reduce complexity, improve cost-competitiveness, enhance capabilities and optimize the Supply Chain network.

During 2019, the Company divested its Advanced Sterilization Products (ASP) business to Fortive Corporation for an aggregate value of approximately $2.8 billion, consisting of $2.7 billion of cash proceeds and $0.1 billion of retained net receivables. As of December 30, 2018, the assets held for sale on the Consolidated Balance Sheet were $0.2 billion of inventory, $0.1 billion of property, plant and equipment, net and $0.3 billion of goodwill. The Company recognized a pre-tax gain recorded in Other (income) expense, net, of approximately $2.0 billion.

Mergers and Acquisitions

While it continues to streamline its businesses for optimal performance, J&J is also keeping pace with its acquisition strategy by pursuing purchases both large and small.

In late 2019, the Janssen Pharmaceutical Companies of Johnson & Johnson completed the acquisition of all rights to the investigational compound bermekimab, which has multiple dermatological indications, along with certain employees, from XBiotech Inc., for $750 million. Janssen pursue bermekimab indications outside of dermatology, XBiotech may be eligible to receive additional payments upon the receipt of certain commercialization authorizations. Janssen Research & Development will develop bermekimab. The agreement was executed through Janssen Biotech, Inc. and the transaction will be accounted for as a business combination.

In a separate transaction of the same year, Johnson & Johnson acquired TARIS Biomedical LLC (TARIS), a privately-owned biotechnology company specializing in the development of a novel drug delivery technology for the treatment of bladder diseases including cancer. The company's lead clinical-stage product, TAR-200, uses the proprietary TARIS System, which features a silicone-based drug delivery device that allows for the continuous release of medication into the bladder. Financial terms of the transaction are not being disclosed.

In 2019, the company acquired Auris Health, Inc for $3.4 billion. That deal furthered J&J's presence in surgical robotics — a field it is targeting for future growth.

Also in 2019, J&J purchased the 80% of Japanese skincare firm Ci:z that it didn't already own for more than $2 billion.

Company Background

Brothers James and Edward Mead Johnson founded their medical products company in 1885 in New Brunswick, New Jersey. After expanding into surgical dressings, in 1921 the company introduced two of its classic products, the Band-Aid and Johnson's Baby Cream.

Subsidiary Ortho Pharmaceutical (birth control products) was formed in 1931 and the Ethicon (sutures) unit was acquired in 1947. In 1959 Johnson & Johnson bought McNeil Labs, which launched Tylenol (acetaminophen) as an OTC drug the next year. Foreign acquisitions included Switzerland's Cilag-Chemie (1959) and Belgium's Janssen (1961). 

New products in the 1980s included ACUVUE disposable contact lenses. The company bought LifeScan (blood-monitoring products for diabetics) in 1986, but eventually divested the firm in 2018. Other purchases included Neutrogena (1994), DePuy (1998), Centocor Biotech (1999), Micrus Endovascular (2010), Crucell (2010), and Synthes (2012).

In early 2017 the company acquired Swiss biotech Actelion, which focuses on rare diseases, for $30 billion. It also purchased Abbott Medical Optics (now J&J Surgical Vision) from Abbott Laboratories for $4.3 billion.

Johnson & Johnson

1 Johnson and Johnson Plz
New Brunswick, NJ 08933-0002
Phone: 1 (732) 524-0400

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: JNJ
Stock Exchange: , NYSE
EVP and CFO: Dominic J. Caruso
Chairman and CEO: Alex Gorsky
EVP and Group Worldwide Chairman: Sandra E. Peterson
Employees (This Location): 1,000
Employees (All Locations): 132,200

Major Office Locations

New Brunswick, NJ

Other Locations

Maylene, AL
Mobile, AL
Baldwin Park, CA
Cottonwood, CA
Folsom, CA
Fontana, CA
Fremont, CA
Irvine, CA
Irwindale, CA
Los Angeles, CA
Los Gatos, CA
Milpitas, CA
Mountain View, CA
Sacramento, CA
San Diego, CA
Santa Ana, CA
Santa Barbara, CA
Santa Monica, CA
Sunnyvale, CA
Vacaville, CA
Englewood, CO
Monument, CO
Simsbury, CT
Southington, CT
Washington, DC
Wilmington, DE
Boca Raton, FL
Dania Beach, FL
Miami, FL
Naples, FL
Palm Beach Gardens, FL
Sarasota, FL
Tallahassee, FL
Athens, GA
Cornelia, GA
Peachtree City, GA
Sylvester, GA
Stuart, IA
Buffalo Grove, IL
Chicago, IL
Inverness, IL
Loves Park, IL
Fishers, IN
Indianapolis, IN
Mooresville, IN
Warsaw, IN
Lenexa, KS
Overland Park, KS
Lexington, KY
Baton Rouge, LA
Mandeville, LA
Monroe, LA
Bridgewater, MA
Norton, MA
Raynham, MA
West Springfield, MA
Baltimore, MD
Rockville, MD
Ann Arbor, MI
Orion, MI
Troy, MI
Minneapolis, MN
Moorhead, MN
Canton, MO
Joliet, MT
Charlotte, NC
Greensboro, NC
Omaha, NE
Bedminster, NJ
Branchburg, NJ
Bridgewater, NJ
Lambertville, NJ
Monroe Township, NJ
Morris Plains, NJ
New Brunswick, NJ
New Providence, NJ
North Brunswick, NJ
Piscataway, NJ
Plainsboro, NJ
Princeton, NJ
Raritan, NJ
Ridgefield, NJ
Skillman, NJ
Somerset, NJ
Somerville, NJ
Titusville, NJ
Trenton, NJ
Albuquerque, NM
Albany, NY
Buffalo, NY
Horseheads, NY
North Tonawanda, NY
Rochester, NY
Wantagh, NY
Blue Ash, OH
Cincinnati, OH
Dayton, OH
Lucasville, OH
Medina, OH
Norman, OK
Oklahoma City, OK
Tulsa, OK
Chesterbrook, PA
Doylestown, PA
Exton, PA
Fort Washington, PA
Huntingdon Valley, PA
Lancaster, PA
Lititz, PA
Malvern, PA
New Kensington, PA
Paoli, PA
Philadelphia, PA
Radnor, PA
Reading, PA
Royersford, PA
Seven Fields, PA
Spring House, PA
Tobyhanna, PA
West Chester, PA
Wexford, PA
Gurabo, PR
San Lorenzo, PR
Cumberland, RI
Foster, RI
Blythewood, SC
Columbia, SC
Hopkins, SC
Franklin, TN
Memphis, TN
Austin, TX
El Paso, TX
Flower Mound, TX
Fresno, TX
Houston, TX
Irving, TX
Kingwood, TX
Plano, TX
Richardson, TX
San Angelo, TX
Tyler, TX
Cornell, WI
Beijing, China
Chengdu, China
Guangzhou, China
Hangzhou, China
Nanjing, China
Wuhan, China
24 South Parganas, India
Ahmedabad, India
Amritsar, India
Auranagabad, India
Baddi, India
Bengaluru, India
Bhiwadi, India
Bhiwandi, India
Chandigarh, India
Chennai, India
Ernakulam, India
Ghaziabad, India
Gurgaon, India
Guwahati, India
Howrah, India
Hyderabad, India
Jaipur, India
Kanpur, India
Kolkata, India
Manipal, India
Mumbai, India
Navi Mumbai, India
New Delhi, India
Pune, India
Secunderabad, India
Solan, India
Thane, India
Vapi, India
Visakhapatnam, India
Aprilia, Italy
Cologno Monzese, Italy
Latina, Italy
Milano, Italy
Opera, Italy
Chiyoda-Ku, Japan
Fukuoka, Japan
Hiroshima, Japan
Inashiki-Gun, Japan
Itabashi-Ku, Japan
Kawasaki, Japan
Koto-Ku, Japan
Kuki, Japan
Kyoto, Japan
Minato-Ku, Japan
Misato, Japan
Nagoya, Japan
Osaka, Japan
Saitama, Japan
Sapporo, Japan
Sendai, Japan
Sukagawa, Japan
Sunto-Gun, Japan
Takamatsu, Japan
Rio De Janeiro, Brazil
Aurora, Canada
Burnaby, Canada
Calgary, Canada
Etobicoke, Canada
Fabreville, Canada
Garson, Canada
Guelph, Canada
Markham, Canada
Mississauga, Canada
Montréal, Canada
Peterborough, Canada
Surrey, Canada
Thornhill, Canada
Udora, Canada
Westbank, Canada
Whitby, Canada
Windsor, Canada
Boulogne Billancourt, France
Chartres, France
Illkirch Graffenstaden, France
Issy Les Moulineaux, France
Saint Priest, France
Sezanne, France
Val De Reuil, France
Mandra, Greece
Thermi, Greece
Huejotzingo, Mexico
Monterrey, Mexico
Oslo, Norway
Moscow, Russia
Novosibirsk, Russia
Schwechat, Austria
Antwerpen, Belgium
Beerse, Belgium
Bruxelles, Belgium
Courcelles, Belgium
Geel, Belgium
La Louvière, Belgium
Machelen (Bt.), Belgium
Olen, Belgium
Turnhout, Belgium
Vosselaar, Belgium
Birkerød, Denmark
Hellerup, Denmark
Espoo, Finland
Neuss, Germany
Umkirch, Germany
Coimbra, Portugal
Porto, Portugal
Almaty, Kazakhstan
Seoul, South Korea
Zug, Switzerland