January 25th, 2011
The State of the Business Address
Every January, following the release of the company’s fourth-quarter 2010 earnings, our chairman and chief addresses the financial analysts who follow the company to provide an assessment of the state of the business. Earlier today, Chairman and CEO Bill Weldon did just that. You can listen to a replay of the earnings call – including Bill’s remarks – but I thought it would be of interest to share a few things covered during this wide-ranging discussion for those checking out JNJBTW. As he finished the call, Bill made the following points:
“Whether we encounter periods of slow economic growth, a product issue, or a market challenge, this commitment [to Our Credo Operating Model and our people] is the reason we can manage through the turbulent times, continue investing, and stay well-positioned for sustainable growth.
As I wrap-up, let me re-cap some of the critical points I hope you will take away today.
Johnson & Johnson is built on a strong foundation, driven by its Credo and operating model, and we are emerging stronger from recent challenges.
Our overall business is performing well, led by our Medical Devices & Diagnostics and Pharmaceuticals businesses.
We have made changes to address our supply chain issues and continue to build the Consumer business with science-based innovations that will lead the market as the business and economy recovers.
Our innovations are moving into the marketplace, launching successfully, addressing critical unmet needs in incredible ways, and thus building market share.
Our presence in promising, new growth areas and across our global footprint gives us outstanding market opportunities.
And our people are some of the most respected and talented leaders in the health care industry.
We are fortunate to compete in one of the most important and rewarding industries in the world. I am confident that we are putting the supply chain problems of 2010 behind us, and we have the products, pipelines, global presence and talented people to expand our market leadership and bring innovative solutions to health care.”