What is Johnson & Johnson?
The world's broadest healthcare company — from blockbuster oncology drugs to surgical robotics.
- Category
- Pharmaceutical & MedTech
- Headquarters
- New Brunswick, NJ
- Founded
- 1886
- Employees
- ~138,000
- 2025 Revenue
- $94.2B
- Market Cap (June 2026)
- ~$560B
What is Johnson & Johnson?
Johnson & Johnson (NYSE: JNJ) is the world's largest and most diversified healthcare company, operating across two global segments — Innovative Medicine (pharmaceuticals) and MedTech (medical devices and surgical technology) — from its headquarters in New Brunswick, New Jersey, where it was founded in 1886.
J&J generated $94.2 billion in worldwide sales in 2025, a 6% increase over 2024, driven by blockbuster oncology and immunology drugs led by Darzalex ($14.4B in 2025 sales alone — confirmed by Genmab's royalty disclosures and J&J's own earnings release), Tremfya, Carvykti, and Erleada. The company employs approximately 138,000 people globally and is on track to cross the $100 billion revenue mark in 2026 for the first time in its 140-year history, with Q1 2026 revenue already printing at $24.1B (+9.9% year-over-year) and full-year 2026 guidance raised to $100.3–$101.3 billion in April 2026.
The Innovative Medicine segment accounts for roughly 64% of sales ($60.4B in 2025) and covers oncology, immunology, neuroscience, cardiovascular, and pulmonary hypertension. The MedTech segment ($33.8B in 2025) covers cardiovascular devices (Shockwave IVL, Abiomed heart pumps), electrophysiology, orthopaedics, surgery, and vision. After spinning off its consumer health brands into Kenvue in May 2023, J&J is now a pure-play pharmaceutical and medical technology company.
With a market capitalization of approximately $560 billion as of June 2026, J&J ranks among the 25 most valuable companies in the world. Its 140-year heritage, Fortune 500 standing, AAA credit rating from both S&P and Moody's (one of only two U.S. companies with that distinction), Dow Jones Industrial Average membership, and 64 consecutive years of dividend increases (announced April 2026) make it the definitive incumbent in global healthcare.
What does Johnson & Johnson offer?
J&J offers a broad portfolio of prescription medicines and medical technologies across oncology, immunology, neuroscience, cardiovascular, orthopaedics, surgery, and vision.
- Darzalex (daratumumab)· Oncology
- Carvykti (ciltacabtagene autoleucel)· Oncology
- Erleada (apalutamide)· Oncology
- Rybrevant / Lazcluze· Oncology
- Talvey (talquetamab)· Oncology
- Tremfya (guselkumab)· Immunology
- Stelara (ustekinumab)· Immunology
- Simponi / Simponi Aria· Immunology
- Spravato (esketamine)· Neuroscience
- Caplyta (lumateperone)· Neuroscience
- Shockwave IVL· Cardiovascular MedTech
- Impella / Abiomed· Cardiovascular MedTech
- Biosense Webster Electrophysiology· Cardiovascular MedTech
- DePuy Synthes Orthopaedics· Orthopaedics
- Ethicon Surgical· Surgery
- Acuvue / Tecnis Vision· Vision
How does Johnson & Johnson make money?
J&J earns revenue through two primary models: selling patent-protected prescription medicines to hospitals, payers, and pharmacy benefit managers (Innovative Medicine, 64% of 2025 sales), and selling medical devices and capital equipment to hospitals and surgery centers (MedTech, 36% of 2025 sales).
In Innovative Medicine, revenue is driven by branded drug sales through specialty pharmacy channels and hospital formularies. Pricing is negotiated with payers and government programs. Darzalex — a monoclonal antibody for multiple myeloma — generated $14.4B in 2025 at a list price of roughly $100,000–$250,000 per patient-year depending on the regimen and line of therapy. Carvykti, a CAR-T cell therapy co-developed with Legend Biotech and approved by the FDA in 2022, carries a U.S. list price of approximately $465,000 per one-time infusion; it reached blockbuster-level trajectory in 2025 with full-year revenues growing sharply on label expansion. Segment gross margins routinely exceed 70%, and J&J invested $14.7 billion in R&D in 2025, with a further commitment to deploy more than $55 billion in U.S. manufacturing, R&D, and technology over 2025–2029.
In MedTech, J&J sells through a direct sales force and distributor network. Capital equipment (e.g., Shockwave generators) is placed at hospitals with recurring revenue from single-use disposables — the classic razor-and-blade model. A Shockwave IVL catheter sells for approximately $3,500–$4,500 per procedure; Biosense Webster electrophysiology catheters run $1,500–$3,500 each. MedTech revenue benefits from long-term GPO contracts with major health systems, and the cardiovascular franchise accelerated in Q1 2026 on Shockwave and Abiomed momentum.
Growth is fueled by new drug approvals, label expansions, and acquisitions: Shockwave Medical for $13.1B (2024), Abiomed for $16.6B (2022), and Halda Therapeutics (acquired in 2025, contributing a modest $(0.10) EPS drag from acquisition costs). J&J is also progressing the separation of DePuy Synthes (orthopaedics, ~$9.3B in 2025 revenue) into an independent public company, announced in October 2025, sharpening its remaining portfolio on higher-growth cardiovascular and oncology platforms.
Who leads Johnson & Johnson?
J&J is led by Chairman and CEO Joaquin Duato, supported by a seasoned executive committee spanning finance, R&D, MedTech operations, legal, and technology.
- Joaquin DuatoChairman & Chief Executive OfficerCEO since Jan 2022; Chairman since Jan 2023; joined J&J 1989A biochemist by training and 35-year J&J veteran who previously ran the Pharmaceuticals segment; described 2025 as a 'catapult year' toward $100B+ revenue. Wrote an op-ed in Fortune (May 2026) championing U.S. biopharma innovation policy.
- Joseph J. WolkExecutive Vice President & Chief Financial OfficerCFO since 2018Stewards J&J's capital allocation and M&A diligence, overseeing a balance sheet with a AAA credit rating and multi-billion-dollar acquisition capacity. Led structuring of the Shockwave ($13.1B) and DePuy Synthes spinoff transactions.
- Jennifer L. TaubertExecutive Vice President & Worldwide Chairman, Innovative MedicineIn role since 2018Oversees the $60.4B pharmaceutical business including blockbusters Darzalex, Tremfya, and Carvykti. Taubert's organization manages commercial strategy, market access, and medical affairs globally.
- Tim SchmidExecutive Vice President & Worldwide Chairman, MedTechIn role since 2022Leads a $33.8B MedTech organization of 75,000+ employees spanning cardiovascular, surgery, orthopaedics, and vision. Responsible for integrating Shockwave Medical and Abiomed into J&J's cardiovascular platform.
- John C. Reed, M.D., Ph.D.Executive Vice President, Innovative Medicine R&DJoined 2014Directs the $14.7B annual R&D investment (2025); a world-renowned cancer biologist who discovered key apoptosis pathway proteins. Oversees the oncology, immunology, and neuroscience pipeline.
- James SwansonExecutive Vice President & Chief Information OfficerRejoined J&J 2019Leads enterprise technology across 4,000+ IT professionals in 50 countries. In 2025, he narrowed J&J's generative AI projects to a focused set of high-impact use cases, publicly stating 'this is the better way to run now' after three years of GenAI pilots.
How do you contact Johnson & Johnson's leadership?
J&J's verified corporate email format follows firstname.lastname@jnj.com (used in approximately 65% of employee addresses per LeadIQ and RocketReach). No personal executive emails are publicly published; the addresses below follow the verified company format. For media inquiries, contact J&J's media relations team through the corporate communications page at jnj.com.
firstname.lastname@jnj.comHow much funding has Johnson & Johnson raised?
Johnson & Johnson is a publicly traded company (NYSE: JNJ) that has been listed since its September 24, 1944 IPO at $37.50 per share — its sole external equity raise in 140 years of history. As of June 2026, its market capitalization is approximately $560 billion, making it one of the world's 25 most valuable companies.
J&J went public on September 24, 1944 at $37.50 per share on the New York Stock Exchange, 58 years after its 1886 founding. At the time of the IPO, the company had $93.6 million in annual sales and $9.5 million in profits, and operated 31 manufacturing subsidiaries worldwide. Chairman Robert Wood Johnson II simultaneously authored the company's famous Credo — a document still in use today — articulating J&J's responsibilities to customers, employees, communities, and shareholders in that order.
Rather than raising external capital, J&J funds growth entirely through its own cash flows and debt markets. The company deployed more than $30 billion in acquisitions between 2022 and 2024: $16.6 billion for Abiomed (2022), $13.1 billion for Shockwave Medical (2024), and additional bolt-on deals including Laminar (2023) and Halda Therapeutics (2025). J&J carries a AAA credit rating from both S&P and Moody's — one of only two U.S. companies with that distinction alongside Microsoft — enabling it to borrow at near-Treasury rates for large strategic deals. It has raised its dividend for 64 consecutive years as of April 2026, qualifying it as a Dividend King.
With net income of $26.8 billion in 2025 (a 90% increase year-over-year, partly reflecting the reversal of prior-year litigation reserves related to talc litigation settlements) and 2026 full-year guidance raised to $100.3–$101.3 billion in revenue, J&J's financial profile is that of a highly profitable mature compounder. The market cap of approximately $560B as of June 2026 implies a trailing price-to-earnings ratio of roughly 21x and a forward PE of approximately 19x on raised 2026 adjusted EPS guidance of $11.45–$11.65.
How did Johnson & Johnson get here?
From a 14-person manufacturer of sterile surgical dressings in 1886 to a $94B healthcare giant, J&J has grown through 140 years of innovation, acquisitions, and resilience.
- 1886Founded in New Brunswick, NJBrothers Robert Wood Johnson, James Wood Johnson, and Edward Mead Johnson start the company with 14 employees, inspired by Joseph Lister's antiseptic principles, to make the world's first mass-produced sterile surgical dressings.
- September 24, 1944IPO on NYSE at $37.50/shareJ&J goes public with $93.6M in annual sales and $9.5M in profits, operating 31 subsidiaries worldwide. Chairman Robert Wood Johnson II simultaneously authors the company's famous Credo articulating responsibilities to customers, employees, communities, and shareholders.
- 1982Tylenol crisis — model corporate responseSeven people die after Tylenol capsules are laced with cyanide in Chicago. CEO James Burke orders a nationwide recall of 31 million bottles, setting the global standard for corporate crisis management and pioneering tamper-resistant packaging — a case still taught in business schools worldwide.
- 2022$16.6B Abiomed acquisition — cardiovascular push beginsJ&J completes the acquisition of Abiomed, maker of the Impella heart pump — the world's smallest heart pump and a critical tool in high-risk PCI procedures. The deal marks the beginning of J&J's major cardiovascular buildout.
- May 2023Kenvue spinoff — consumer brands separatedJ&J completes the IPO and separation of Kenvue (NYSE: KVUE), which holds Band-Aid, Tylenol, Neutrogena, Listerine, and other consumer brands. The deal generates $13.2B for J&J and sharpens focus on pharmaceutical innovation and MedTech.
- 2024$13.1B Shockwave Medical acquisition closesJ&J completes the largest MedTech acquisition of 2024, adding Shockwave's intravascular lithotripsy (IVL) technology for calcified coronary and peripheral artery disease at $335/share. Cementing cardiovascular leadership alongside Abiomed and Biosense Webster.
- October 2025DePuy Synthes spinoff announcedJ&J announces the planned separation of its DePuy Synthes orthopaedics unit (~$9.3B in 2025 revenue) as a new public company within 18–24 months. Namal Nawana is named Worldwide President of DePuy Synthes to lead the business through separation.
- 2025–2026$94.2B revenue; $100B+ guidance issued and raisedCEO Duato calls 2025 a 'catapult year.' Darzalex hits $14.4B and Carvykti achieves blockbuster-level trajectory. Q1 2026 prints at $24.1B (+9.9% YoY), and J&J raises full-year 2026 guidance to $100.3–$101.3B — the first time in company history above the $100B threshold.
Who are Johnson & Johnson's competitors?
J&J competes across two fronts: global pharmaceutical companies in drug development and sales, and large MedTech conglomerates in medical devices. No single rival matches J&J's combined breadth across both sectors.
- PfizerJ&J's closest pharmaceutical peer by revenue (~$63B in 2024); competes directly in oncology and immunology but has no MedTech revenue stream. Pfizer's Eliquis competes in cardiovascular, and its oncology portfolio overlaps in hematology.
- Merck & Co.Keytruda dominates immuno-oncology (>$25B in 2025 sales), directly rivaling J&J's Darzalex and Carvykti in hematologic cancers; also competes in immunology and vaccines. Pure pharma, no MedTech exposure.
- Abbott LaboratoriesMulti-segment healthcare rival in diagnostics, cardiovascular devices, and diabetes care (FreeStyle Libre); ~$22B revenue competing across multiple MedTech categories including electrophysiology and structural heart.
- MedtronicWorld's largest pure-play medical device company (~$33.5B revenue); competes head-to-head in cardiac rhythm management, spine, and surgical robotics. The Medtronic-J&J rivalry in cardiovascular and EP has intensified since J&J acquired Shockwave.
- Boston ScientificFastest-growing large MedTech rival (~$16B revenue); competes aggressively in electrophysiology, cardiovascular intervention, and endoscopy — directly overlapping with J&J's Biosense Webster and Shockwave franchises.
- NovartisSwiss pharma competing in oncology (Kymriah CAR-T vs. Carvykti in multiple myeloma) and immunology; purely medicines-focused without any MedTech division. Also competes in cardiovascular with Entresto.
Johnson & Johnson — frequently asked questions
