Growth Priorities

Johnson & Johnson has tremendous assets for growth: our people, products, pipeline and global presence. At the foundation is Our Credo, a common set of values unifying our approximately 115,500 people around the world, and an operating model that has served us well for decades. Our unwavering operating model includes a commitment to being broadly based in health care, a decentralized management approach that keeps our people close to customers, managing for the long term and a focus on people and values. Our businesses rely on Our Credo and our operating model to provide a consistent framework for decision-making while leaving specific strategies to local business or franchise leaders, who are closest to the customer.

Within our strategic framework we galvanize our organization around high-level business priorities that reflect the changing global environment. These provide leaders with a common set of growth priorities. For 2010, these include:

• Innovative Products: Our growth has always been based on scientific innovations that serve unmet patient and customer needs in a meaningful way. This has created market leadership positions in many of our businesses. We will stay focused on bringing forth innovative, accessible and effective products—and entirely new business models—that address the most prevalent health care needs.
• Robust Pipelines:  Johnson & Johnson has one of the most robust product pipelines in our history. The multitude of opportunities necessitate that we target, invest in and manage its development. A mix of internal and external sources will sustain a flow of new products that provide a competitive advantage. We fully expect the new products coming from today’s pipeline to accelerate the proportion of our sales driven by newer products.
• Global Presence:  As a global health care leader, we must continue to expand our presence and execute strategies in an appropriate way for diverse markets and customers. Our approach will be strategic, effective and cost-efficient to address local needs. This may mean relating to customers in new ways, tailoring product innovation to market needs or building health care capacity. For Johnson & Johnson, this also means a special focus on high-growth emerging markets such as the BRIC countries.
• Talented People:  The hallmark of Johnson & Johnson is our talented people. They are passionate about winning in the marketplace and making a difference in people’s lives. I believe we have some of the best talent in the health care industry. Our ability to develop, challenge, motivate and reward a diverse workforce is our cornerstone for sustained growth.

The people in our Medical Devices and Diagnostics, Pharmaceuticals and Consumer segments have consistently delivered against plans for growth. These segments are each market leaders, with No. 1 or No. 2 positions in many of their businesses. In fact, 70 percent of sales are from products with leading market share positions, with approximately one-fourth of sales last year coming from new products introduced in the past five years.

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