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<SEC-DOCUMENT>0000200406-06-000108.txt : 20060718
<SEC-HEADER>0000200406-06-000108.hdr.sgml : 20060718
<ACCEPTANCE-DATETIME>20060718110857
ACCESSION NUMBER:		0000200406-06-000108
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20060718
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060718
DATE AS OF CHANGE:		20060718

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JOHNSON & JOHNSON
		CENTRAL INDEX KEY:			0000200406
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				221024240
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-03215
		FILM NUMBER:		06966467

	BUSINESS ADDRESS:	
		STREET 1:		ONE JOHNSON & JOHNSON PLZ
		CITY:			NEW BRUNSWICK
		STATE:			NJ
		ZIP:			08933
		BUSINESS PHONE:		732-524-2455

	MAIL ADDRESS:	
		STREET 1:		ONE JOHNSON & JOHNSON PLZ
		CITY:			NEW BRUNSWICK
		STATE:			NJ
		ZIP:			08933
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>eightk.txt
<TEXT>


               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549


                            FORM 8K

                        Current Report
               Pursuant to Section 13 or 15(d) of
              The Securities Exchange Act of 1934



  Date of Report (Date of earliest event reported):
                       July 18, 2006


                        JOHNSON & JOHNSON

     (Exact name of registrant as specified in its
charter)


    New Jersey        1-3215              22-1024240

(State or other     Commission     (I.R.S. Employer
jurisdiction        File Number)   Identification No.)
of incorporation)



 One Johnson & Johnson Plaza, New Brunswick, New Jersey
                             08933

           (Address of principal executive offices)
                          (zip code)


Registrant's telephone number including area code:
                       (732) 524-0400

Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following
provisions:

[ ] Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)

Item 2.02 Results of Operations and Financial Condition

On  July 18, 2006, Johnson & Johnson ("J&J") issued the
attached   press  release  announcing  its  sales   and
earnings for the second quarter ended July 2, 2006.


Item 9.01 Financial Statements and Exhibits

Exhibit No.         Description of Exhibit

99.15   Press Release dated July 18, 2006 for the
        period ended July 2, 2006.

99.2O   Unaudited Comparative Supplementary Sales Data
        and Condensed Consolidated Statement of Earnings
        for the second quarter.





                            SIGNATURE



Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned hereunto
duly authorized.



                          JOHNSON & JOHNSON




Date: July 18, 2006       By: /s/ Stephen J. Cosgrove
                              Stephen J. Cosgrove
                              Chief Accounting Officer




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.15 OTH FIN ST
<SEQUENCE>2
<FILENAME>ninetyninefifteen.txt
<TEXT>
Exhibit 99.15

FOR IMMEDIATE RELEASE

Johnson & Johnson Reports 2006 Second Quarter EPS Increase
of 10.5% on Sales Increase of 4.7%

New Brunswick, NJ (July 18, 2006) - Johnson & Johnson today
announced record sales for the second quarter of $13.4
billion, an increase of 4.7% as compared to the second
quarter of 2005. Operational growth was 4.8% with a negative
currency impact of .1%. Domestic sales were up 4.4%, while
international sales increased 5.1%, reflecting operational
growth of 5.2% and a negative currency impact of .1%.

Net earnings and diluted earnings per share for the second
quarter of 2006 were $2.8 billion and $.95, respectively.
The second quarter included an after-tax in-process research
and development charge of $87 million associated with the
acquisition of Vascular Control Systems Inc. Prior-year
second quarter net earnings included after-tax in-process
research and development charges of $353 million associated
with the acquisitions of Peninsula Pharmaceuticals, Inc.,
CLOSURE Medical Corporation and TransForm Pharmaceuticals,
Inc. Net earnings for the second quarter of 2005 also
included a gain of $225 million for a tax adjustment
associated with a technical correction made to the American
Jobs Creation Act. Excluding the impact of these items, net
earnings for the current quarter were $2.9 billion and
diluted earnings per share were $.98, representing increases
of 7.0% and 8.9%, respectively, as compared to the same
period in 2005.*

"Our second quarter results demonstrated improving
performance, which is anticipated to continue throughout the
remainder of the year," said William C. Weldon, Chairman and
Chief Executive Officer. "We have made a number of business-
building investments and have received several significant
regulatory product approvals. These investments and
approvals will help us both sustain important leadership
positions as well as enter new high growth markets
characterized by unmet medical need."

Worldwide Medical Devices and Diagnostics sales of $5.2
billion for the second quarter represented a 6.2% increase
over the prior year with operational growth of 6.7% and a
negative impact from currency of .5%. Domestic sales
increased 8.9%, while international sales increased 3.5%
(4.6% from operations less 1.1% from negative currency).

Primary contributors to the operational growth included
Ethicon Endo-Surgery's minimally invasive products; Cordis'
CYPHERr Sirolimus-eluting Coronary Stent; Vistakon's
disposable contact lenses and LifeScan's blood glucose
monitoring and insulin delivery products.

During the quarter, the Company announced the completion of
the acquisition of Vascular Control Systems, Inc., a
privately held company focused on developing medical devices
to treat fibroids and to control bleeding in obstetric and
gynecologic applications. In July, the Company acquired
Colbar LifeScience Ltd., a privately held biotechnology
company specializing in reconstructive medicine and tissue
engineering.

In addition, the Company received CE Mark approval in Europe
for CYPHER SELECTTM PLUS, the first third-generation drug-
eluting stent to receive such an approval.

Worldwide Pharmaceutical sales of $5.8 billion for the
second quarter represented an increase over the prior year
of 3.2% on both a reported and an operational basis.
Domestic sales increased 2.4%, while international sales
increased 4.7%.

Sales growth reflects the strong performance of RISPERDALr
(risperidone), an antipsychotic medication; REMICADEr
(infliximab), a biologic approved for the treatment of a
number of immune mediated inflammatory diseases; TOPAMAXr
(topiramate), an antiepileptic and a treatment for the
prevention of migraine headaches, and CONCERTAr
(methylphenidate HCl), a treatment for attention deficit
hyperactivity disorder.

During the quarter, the U.S. Food and Drug Administration
(FDA) granted accelerated approval of the anti-HIV
medication PREZISTATM (darunavir). The FDA also approved
IONSYSTM (fentanyl iontophoretic transdermal system), the
first needle-free, patient-activated analgesic system; and
REMICADEr (infliximab) for reducing signs and symptoms in
pediatric patients with moderately to severely active
Crohn's disease.

JURNISTATM prolonged-release tablets (Hydromorphone HCl), a
new prescription treatment for severe pain, received
approval through the European Mutual Recognition Procedure.
In addition, the Company submitted a Marketing Authorization
Application to the European Medicines Agency for
Paliperidone prolonged-release tablets, a once daily, oral
medication for the treatment of schizophrenia.

Also during the quarter, the Company completed an agreement
with Vertex Pharmaceuticals Inc. to develop and
commercialize Vertex's investigational hepatitis C virus
(HCV) protease inhibitor, VX-950. The Company will have
exclusive rights in Europe, South America, the Middle East,
Africa and Australia. In June, the Company announced it had
entered into an agreement with Metabolex, Inc., for an
exclusive license for worldwide development and
commercialization of metaglidasen and MBX-2044, two
compounds in clinical development for the treatment of Type
2 diabetes.

Worldwide Consumer segment sales of $2.4 billion for the
second quarter represented a 5.3% increase over the prior
year with operational growth of 4.5% and a positive impact
from currency of .8%. Domestic sales increased 1.0%, while
international sales increased 9.2% (7.7% from operations and
1.5% from currency).

Sales growth reflects strong performance by the skin care
lines of AVEENOr and JOHNSON'S adult skin products. Baby &
Child Care products and McNeil Nutritional's SPLENDAr
sweetener also contributed to the results in the Consumer
segment.

The acquisition of Groupe Vendome, a privately held French
marketer of adult and baby skin care products, was completed
during the quarter.

In addition, the Company announced that it had entered into
a definitive agreement to acquire Pfizer Consumer Healthcare
for $16.6 billion in cash. The transaction is projected to
close by the end of 2006 and is subject to customary
clearances, including the Hart-Scott-Rodino Antitrust
Improvements Act and European Union merger control
regulation.

Johnson & Johnson is the world's most comprehensive and
broadly based manufacturer of health care products, as well
as a provider of related services, for the consumer,
pharmaceutical and medical devices and diagnostics markets.
The more than 230 Johnson & Johnson operating companies
employ approximately 116,200 men and women in 57 countries
and sell products throughout the world.

* Net earnings and diluted earnings per share excluding in-
process research and development charges and a revised tax
impact for the American Jobs Creation Act are non-GAAP
financial measures and should not be considered replacements
for GAAP results. For a reconciliation of these non-GAAP
financial measures to the most directly comparable GAAP
financial measures, see the accompanying tables to this
release.

NOTE TO INVESTORS:

Johnson & Johnson will conduct a meeting with financial
analysts to discuss this news release today at 8:30 a.m.,
Eastern Daylight Savings Time. A simultaneous webcast of the
meeting for interested investors and others may be accessed
by clicking on the webcast icon from the jnj.com Homepage or
by clicking on Calendar of Events in the Investor Relations
section of the Web site. A replay will be available
approximately two hours after the live webcast by clicking
on "Webcasts/Presentations" in the Investor Relations
section.

(This press release contains "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of
1995. These statements are based on current expectations of
future events. If underlying assumptions prove inaccurate or
unknown risks or uncertainties materialize, actual results
could vary materially from the Company's expectations and
projections. Risks and uncertainties include general
industry conditions and competition; economic conditions,
such as interest rate and currency exchange rate
fluctuations; technological advances and patents attained by
competitors; challenges inherent in new product development,
including obtaining regulatory approvals; domestic and
foreign health care reforms and governmental laws and
regulations; and trends toward health care cost containment.
A further list and description of these risks, uncertainties
and other factors can be found in Exhibit 99 of the
Company's Annual Report on Form 10-K for the fiscal year
ended January 1, 2006. Copies of this Form 10-K, as well as
subsequent filings, are available online at www.sec.gov or
on request from the Company. The Company assumes no
obligation to update any forward-looking statements as a
result of new information or future events or developments.)

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2O OTH FIN ST
<SEQUENCE>3
<FILENAME>ninetyninetwenty.txt
<TEXT>
Exhibit 99.20

Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)

                                 SECOND QUARTER
                 2006   2005  Percent    Percent  Percent
                               Change     Change   Change
                               Total  Operations Currency
Sales to
customers by
segment of
business
 Consumer
   U.S.          $1,103   1,092    1.0 %      1.0     --
   International  1,295   1,186    9.2        7.7    1.5
                  2,398   2,278    5.3        4.5    0.8
 Pharmaceutical
   U.S.           3,682   3,595    2.4        2.4     --
   International  2,128   2,033    4.7        4.7    0.0
                  5,810   5,628    3.2        3.2    0.0

Med Device &
Diagnostics
   U.S.           2,590   2,378    8.9        8.9     --
   International  2,565   2,478    3.5        4.6  (1.1)
                  5,155   4,856    6.2        6.7  (0.5)

U.S.              7,375   7,065    4.4        4.4     --

International     5,988   5,697    5.1        5.2  (0.1)

Worldwide       $13,363 $12,762    4.7 %      4.8  (0.1)


Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)

                                   SIX MONTHS
                 2006   2005  Percent    Percent  Percent
                               Change     Change   Change
                               Total  Operations Currency
Sales to
customers by
segment of
business
 Consumer
   U.S.           $2,253   2,206    2.1 %      2.1     --
   International   2,500   2,352    6.3        6.7  (0.4)
                   4,753   4,558    4.3        4.5  (0.2)
 Pharmaceutical
   U.S.            7,383   7,378    0.1        0.1     --
   International   4,053   4,005    1.2        3.8  (2.6)
                  11,436  11,383    0.5        1.4  (0.9)

Med Device &
Diagnostics
   U.S.            5,110  4,739    7.8        7.8     --
   International   5,056  4,914    2.9        6.8  (3.9)
                  10,166  9,653    5.3        7.3  (2.0)

U.S.              14,746 14,323    3.0        3.0     --

International     11,609 11,271    3.0        5.7  (2.7)

Worldwide        $26,355 25,594    3.0 %      4.2  (1.2)


          Johnson & Johnson and Subsidiaries
               Supplementary Sales Data

(Unaudited; Dollars in Millions)

                                 SECOND QUARTER
                 2006   2005  Percent    Percent  Percent
                               Change     Change   Change
                               Total  Operations Currency
Sales to
customers by
geographic area

U.S.              $7,375  7,065    4.4 %      4.4     --

Europe             3,295  3,186    3.4        4.3   (0.9)
Western              876    751   16.6        9.4    7.2
Hemisphere
excluding U.S.
Asia-Pacific,      1,817  1,760    3.2        5.2  (2.0)
Africa
International      5,988  5,697    5.1        5.2  (0.1)

Worldwide        $13,363 12,762    4.7 %      4.8  (0.1)


          Johnson & Johnson and Subsidiaries
               Supplementary Sales Data


(Unaudited; Dollars in Millions)

                                   SIX MONTHS
                 2006   2005  Percent    Percent  Percent
                               Change     Change   Change
                               Total  Operations Currency
Sales to customers
by geographic area

U.S.              $14,746 14,323   3.0 %      3.0     --

Europe              6,366  6,362   0.1        4.8  (4.7)
Western Hemisphere  1,698  1,477  15.0        7.5    7.5
excluding U.S.
Asia-Pacific,       3,545  3,432   3.3        6.7  (3.4)
Africa
International      11,609 11,271   3.0        5.7  (2.7)

Worldwide         $26,355 25,594   3.0 %      4.2  (1.2)


        Johnson & Johnson and Subsidiaries (1)
     Condensed Consolidated Statement of Earnings


(Unaudited; in Millions Except Per Share Figures)

                              SECOND QUARTER
                2006     2006   2005     2005     Percent
              Amount   Percent  Amount  Percent   Increase
                       to Sales         to Sales (Decrease)

Sales to
customers    $13,363    100.0 $12,762    100.0      4.7

Cost of
products sold  3,788     28.3   3,522     27.6      7.6

Selling,
marketing and
administrative
expenses       4,351     32.6   4,278     33.5      1.7

Research
Expense        1,828     13.7   1,525     11.9     19.9

In-process
research &
development       87      0.6     353      2.8

Interest
(income)
expense, net   (196)     (1.5)    (94)    (0.7)

Other
(income)
expense, net    (98)     (0.7)    (88)    (0.7)

Earnings
before
provision for
taxes on
income         3,603      27.0  3,266     25.6     10.3

Provision for
taxes on
income           783       5.9    678      5.3     15.5

Net earnings  $2,820      21.1 $2,588     20.3      9.0

Net earnings
per share
(Diluted)      $0.95            $0.86              10.5

Average
shares
outstanding
(Diluted)    2,974.4          3,024.7

Effective tax
rate            21.7 %           20.8 %


Adjusted
earnings
before
provision for
taxes and net
earnings(A)

Earnings
before
provision for
taxes on
income       $3,690(2)    27.6 $3,619(3)   28.4    2.0

Net earnings $2,907(2)    21.7 $2,716(3)   21.3    7.0

Net earnings
per share
(Diluted)     $0.98(2)          $0.90(3)           8.9

Effective
tax rate       21.2 %           25.0 %

(1) The company has adopted SFAS No. 123 (R), Shared
Based Payment, applying the modified retrospective
transition method. Previously reported financial
statements have been restated accordingly.

(2) The difference between as reported earnings before
provision for taxes on income and net earnings and
adjusted earnings before provision for taxes on income
and net earnings is the exclusion of IPR&D of $87
million before tax with no tax benefit, or $0.03 per
share.

(3) The difference between as reported earnings before
provision for taxes on income and net earnings and
adjusted earnings before provision for taxes on income
and net earnings is the exclusion of IPR&D of $353
million before tax with no tax benefit, or $0.12 per
share, and the exclusion of a $225 million tax gain, or
$0.08 per share, due to the reversal of a tax liability
related to a technical correction associated with the
American Jobs Creation Act of 2004.

        Johnson & Johnson and Subsidiaries (1)
     Condensed Consolidated Statement of Earnings

(Unaudited; in Millions Except Per Share Figures)

                                SIX MONTHS
                2006     2006   2005     2005     Percent
              Amount   Percent  Amount  Percent   Increase
                       to Sales         to Sales (Decrease)

Sales to
customers     $26,355    100.0 $25,594    100.0      3.0

Cost of
products sold   7,400     28.1   7,018     27.4      5.4

Selling,
marketing and
administrative
expenses        8,446     32.0   8,405     32.8      0.5

Research
Expense         3,360     12.7   2,909     11.4     15.5

In-process
research &
development       124      0.5     353      1.4

Interest
(income)
expense, net    (377)    (1.4)   (163)    (0.6)

Other
(income)
expense, net    (816)    (3.1)   (121)    (0.5)

Earnings
before
provision for
taxes on
income         8,218     31.2   7,193     28.1     14.2

Provision for
taxes on
income         2,093      8.0   1,766      6.9     18.5

Net earnings  $6,125     23.2  $5,427     21.2     12.9

Net earnings
per share
(Diluted)      $2.05            $1.80              13.9

Average
shares
outstanding
(Diluted)    2,982.5          3,021.8

Effective tax
rate            25.5 %           24.6 %

Adjusted
earnings
before
provision for
taxes and net
earnings(A)

Earnings
before
provision for
taxes on
income        $7,720(2)   29.3  $7,546(3)   29.5   2.3

Net earnings  $5,873(2)   22.3  $5,555(3)   21.7   5.7

Net earnings
per share
(Diluted)      $1.97(2)          $1.84(3)          7.1

Effective
tax rate        23.9 %            26.4 %

(1) The company has adopted SFAS No. 123 (R), Shared
Based Payment, applying the modified retrospective
transition method. Previously reported financial
statements have been restated accordingly.

(2) The difference between as reported earnings before
provision for taxes on income and net earnings and net
earnings per share (diluted) is the Guidant acquisition
termination fee of $622 million and $368 million and
$0.12 per share, respectively, and IRP&D of $124
million and $116 million and $0.04 per share,
respectively.

(3) The difference between as reported earnings before
provision for taxes on income and net earnings and
adjusted earnings before provision for taxes on income
and net earnings is the exclusion of IPR&D of $353
million before tax with no tax benefit, or $0.12 per
share, and the exclusion of a $225 million tax gain, or
$0.08 per share, due to the reversal of a tax liability
related to a technical correction associated with the
American Jobs Creation Act of 2004.

(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings before
provision for taxes on income," "adjusted net earnings,"
"adjusted net earnings per share (diluted)," and "adjusted
effective tax rate" are non-GAAP financial measures and
should not be considered replacements for GAAP results. The
Company provides earnings before provision for taxes on
income, net earnings, net earnings per share (diluted), and
effective tax rate on an adjusted basis because management
believes that these measures provide useful information to
investors. Among other things, they may assist investors in
evaluating the Company's results of operations period over
period. In various periods, these measures may exclude such
items as business development activities (including IPR&D at
acquisition or upon attainment of milestones and any
extraordinary expenses), strategic developments (including
restructuring and product line changes), significant
litigation, and changes in applicable laws and regulations
(including significant accounting or tax matters). Special
items may be highly variable, difficult to predict, and of a
size that sometimes has substantial impact on the Company's
reported results of operations for a period. Management uses
these measures internally for planning, forecasting and
evaluating the performances of the Company's businesses,
including allocating resources and evaluating results
relative to employee performance compensation targets.
Unlike earnings before provision for taxes on income, net
earnings, net earnings per share (diluted), and effective
tax rate prepared in accordance with GAAP, adjusted earnings
before provision for taxes on income, adjusted net earnings,
adjusted net earnings per share (diluted), and adjusted
effective tax rate may not be comparable with the
calculation of similar measures for other companies. These
non-GAAP financial measures are presented solely to permit
investors to more fully understand how management assesses
the performance of the Company. The limitations of using
these non-GAAP financial measures as performance measures
are that they provide a view of the Company's results of
operations without including all events during a period,
such as the effects of an acquisition, merger-related or
other restructuring charges, or amortization of purchased
intangibles, and do not provide a comparable view of the
Company's performance to other companies in the health care
industry. Investors should consider non-GAAP financial
measures in addition to, and not as replacements for, or
superior to, measures of financial performance prepared in
accordance with GAAP.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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