Johnson & Johnson to `Grow Above Market' in 2020, CFO Says

The transcript discusses the company's earnings and growth projections for 2019 and 2020, highlighting the impact of the Affordable Care Act on medical devices. It addresses litigation risks, capital allocation plans, and strategies to boost investor confidence. The company aims to grow above market expectations, focusing on pharmaceuticals, medical devices, and consumer health. Despite litigation challenges, the company has completed a $5 billion buyback and plans to increase dividends and make value-creating acquisitions.

What was a significant challenge for the company in 2019?

• Regulatory changes in Europe

• Loss of exclusivity on major products

• Increase in production costs

• Decline in consumer demand

How did the company perform in the medical device unit?

• It experienced a decline in growth

• It remained stagnant

• It achieved 5.3% growth excluding acquisitions and currency impact

• It faced significant losses

What is the company's approach to the Affordable Care Act's impact on medical devices?

• It sees the tax as a major growth obstacle

• It intends to increase prices

• It considers the tax a minor side event

• It plans to halt production

How does the company plan to handle litigation risks?

• By increasing product prices

• By appealing and defending its rights

• By settling all cases

• By ignoring them

What strategy is the company using to attract investors despite litigation concerns?

• Expanding into new markets

• Cutting down on research and development

• Increasing buybacks and demonstrating strong performance

• Reducing dividends