Do you even know? How much of today’s mankind is using drugs to withstand diverse diseases that humans are suffering day by day?
Well, according to the National Institute of Health (NIH), one in every three adults around the globe suffers from a chronic disease and consumes prescribed medicines to stand against it. Since the vast development in medical science, it is all possible to manufacture drugs and antiseptics for almost every disease. Sooner or later, mankind will be able to generate antidotes against any kind of harmful viruses. All this is possible due to the technology that the world of science offers in the medical field.
Johnson & Johnson also known as J&J is one of the most popular and well-known American-based multinational corporation. The company deals with the invention of different medical tools and devices as well as pharmaceuticals. They also invest in the field of discovery of new viruses that show a negative impact on human health.
The company has more than 270 subsidiaries and operates in more than 60 countries around the world. Band-Aid, Aveeno, Reach, Splenda, Tylenol, Listerine, etc are some of the well known consumer brands that are owned by the company.
History Of Johnson & Johnson
As for the history of this company, it was founded by three brothers; James Wood Johnson, Robert Wood Johnson, and Edward Mead Johnson in the mid-1886 during the Gilded Age, a high point of the second Industrial Revolution. At the early stage, the company started selling readymade dressing materials that could help in primary health care for both small and big wounds. People living in the USA were greatly helped by this, as a result, the company started selling more items and started gaining profits in a consistent level.
The main reason behind the success of this company was, that the Johnson brothers saw a long visionary need for those products which could help humans to improve their health. In the beginning, the company sold sterile surgical products like bandages, absorbent cotton, sutures, baby products, and gauze.
Back in time, as the world was going through many wars and disputes, this company managed to sell its products in various countries and in Europe as well. Due to their consistent discoveries and research about health issues, the company brought well-developed industries that could produce products on a large scale, and with good marketing and innovations, it was quite easy to make the products available for the required consumers. However, it took quite a few years more to make their products available in Asian countries as the pharmaceuticals were first supplied in the Philippines in 1956 and in India in 1959.
After the wild growth of the company in many countries, they started producing more baby products as well as women’s cosmetics which helped them to increase their consumers. Baby products like baby hair oil, wipes, powder, soaps, and skincare are commonly available all over the world and are used by many people as they are mainly gentle and mild. Diverse lotions, skincare, hair products, and soaps made female consumers more attracted to the company’s products.
Financial Position Of Johnson & Johnson
As of 2024, the company has a market cap or net worth of $392 billion. In 2023, the company was ranked in the Top 40 in the Fortune 500 list of largest United States corporations.
In 2022, Johnson & Johnson made $17.9 billion in earnings and had a total revenue of $94.94 billion, which was a 1.25% increase from the previous year. By September 2022, the company’s shares were valued at over $175 each, and its total market worth was more than $439.8 billion.
Here are some of the stats related to the annual income of the company from the past three years taking reference to its previous year:
| YEAR | PERCENTAGE | Profit/Loss |
|---|---|---|
| 2023 | 10.31 | Decreased |
| 2022 | 1.25 | Increased |
| 2021 | 13.55 | Increased |
Exploring the shares offered by J&J, currently, it has 2.409 Billion shares held by various groups and incorporations. The highest share of the company is with Vanguard Group Inc. which is about 2.29 hundred million. Similarly, other incorporations such as Blackrock Inc., State Street Corporation, and Geode Capital Management LLC, also hold a high number of shares. These are also the main groups holding the most number of shares of the company respectively.
Johnson & Johnson Management Team
As of 2024, the members of the board of directors of Johnson & Johnson are Joaquin Duato, Darius Adamczyk, Mary C. Beckerle, D. Scott Davis, Jennifer A. Doudna, Marillyn A. Hewson, Paula A. Johnson, Hubert Joly, Mark B. McClellan, Anne M. Mulcahy, Mark A. Weinberger, and Nadja Y. West.
Joaquin Duato is the chairman and Chief Executive Officer of this world’s largest and vastly diversified healthcare products company. Under his leadership, the J&J company is all set to tackle all the health problems with different solutions and now is focused and innovative towards their medtech and medicinal developments.
Under Joaquin’s guidance, Johnson & Johnson is committed to revolutionizing healthcare, striving to prevent, treat, and cure complex diseases while also advancing smarter, less invasive, and personalized solutions. Leveraging data science and cutting-edge technology, the company aims to accelerate innovation in healthcare, ranging from cell therapy to robotic-assisted surgery.
Before assuming the roles of CEO in January 2022 and Chairman in January 2023, Joaquin held the position of Vice Chairman of the Executive Committee, overseeing the pharmaceutical and consumer health sectors, as well as technology and global supply chain operations. With over three decades of experience at Johnson & Johnson, spanning various regions, departments, and business units, Joaquin has gained profound insights into the company’s pivotal role in addressing patients’ healthcare needs.
In 2023, under Mr. Duato’s guidance, the company achieved or surpassed its combined financial and strategic objectives to a significant extent, leading to J&J granting him an annual performance bonus of 130.4% of the target and long-term incentives at 125.0% of the target, as stated in the filing.
As a citizen of both the United States and Spain, Joaquin holds an MBA from ESADE in Barcelona, Spain, and a Master of International Management from the Thunderbird School of Global Management in Phoenix, Arizona.
Awards And Recognitions
- Best Company Perks & Benefits In 2023
- Best Places to Work in New York 2022
- Johnson & Johnson is one of the largest donors to the Foundation for the National Institutes of Health (FNIH)
- J&J is a member company of the National Pharmaceutical Council (NPC), a nonprofit that advocates for expanded research funding and innovation.
- J&J is a member of the Personalized Medicine Coalition, a medical research advocacy group that lobbies on behalf of the pharmaceutical industry to increase funding for personalized medicine research and development.
“We believe our first responsibility is to the patients, doctors and nurses, to mothers and fathers and all others who use our products and services. In meeting their needs everything we do must be of high quality. We must constantly strive to provide value, reduce our costs and maintain reasonable prices. Customers’ orders must be serviced promptly and accurately. Our business partners must have an opportunity to make a fair profit.” – Johnson & Johnson
Conclusion
Johnson & Johnson has been a cornerstone in the medical field during the COVID-19 pandemic, showcasing unwavering dedication to global health. From crafting a one-shot COVID-19 vaccine to supplying essential medical equipment, the company has shown remarkable adaptability and ingenuity in tackling the crisis.
By providing a vaccine that is both convenient and effective, along with its substantial contributions to research and healthcare infrastructure, Johnson & Johnson has made a lasting impact in the battle against COVID-19, solidifying its reputation as a frontrunner in the medical arena.
In summary, J&J company has traversed a significant journey since its inception, pioneering a transformative era in medical science. Its pharmaceutical productions have profoundly influenced human life, addressing a spectrum of health concerns, both minor and major. Initially, the concept of launching such a business was novel and unconventional. However, over time, the products gained widespread acceptance and usage as they provided remarkable assistance to people.
References
References used while preparing this article are as follows;
- J&J Company Official Website
- Facts from other research.
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