Johnson & Johnson (NYSE:JNJ) RBC Capital Markets Global Healthcare Conference May 20, 2025 1:35 PM ET
Corporate Participants
Joe Wolk – EVP, Chief Financial Officer
Conference Call Participants
Shagun Singh – RBC Capital Markets
Shagun Singh
Hello everyone, I am Shagun Singh, Senior Research Analyst at RBC, and I’m very happy to host the next session with Johnson & Johnson. Joining us from the company is Joe Wolk, Chief Financial Officer of the company. Joe, thank you so much for being here today, we really appreciate your time.
Joe Wolk
Oh, my pleasure, Shagun, pleasure to be here.
Shagun Singh
Great, so I thought we could open it up with a brief state of healthcare discussion given the current environment, maybe start off with tariffs. So we are in an unprecedented time with respect to tariffs and all the policy rhetoric that has been going on.
Joe Wolk
[Audio Gap] of the year so far with respect to tariffs, I do think it’s important [Audio Gap] as well as Part D redesign, which is another $2 billion in discounts. Most companies would be looking to contract or at least moderate their growth expectations on both the top and bottom line. We’re looking to grow through that. So I call it kind of a gutting it out type of year, and I’m really pleased with what happened in the first quarter specifically, how the overall business performed.
In our first quarter results, we did talk about tariffs. About $400 million based on what we knew back at that date in April. That considered a 90 day pause, that considered China retaliatory tariffs. And at that point in time, we were able to absorb that additional impact in our 2025 outlook of about $400 million. That was mostly on the MedTech side impacting our business.
#Johnson #Johnson #JNJ #RBC #Capital #Markets #Global #Healthcare #Conference