Document


(Unaudited; Dollars in Millions)	SECOND QUARTER
			Percent Change
Sales to customers by geographic area	2026	2025	Total		Operations	Currency
U.S.	$14,533	13,544	7.3	%	7.3	—
Europe	5,726	5,387	6.3		3.3	3.0
Western Hemisphere excluding U.S.	1,309	1,206	8.5		2.7	5.8
Asia-Pacific, Africa	3,742	3,606	3.8		3.9	(0.1)
International	10,777	10,199	5.7		3.4	2.3
Worldwide	$25,310	23,743	6.6	%	5.6	1.0

Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.


(Unaudited; Dollars in Millions)	SIX MONTHS
			Percent Change
Sales to customers by geographic area	2026	2025	Total		Operations	Currency
U.S.	$27,863	25,849	7.8	%	7.8	—
Europe	11,574	10,497	10.3		3.0	7.3
Western Hemisphere excluding U.S.	2,602	2,373	9.6		2.6	7.0
Asia-Pacific, Africa	7,333	6,917	6.0		4.9	1.1
International	21,509	19,787	8.7		3.6	5.1
Worldwide	$49,372	45,636	8.2	%	6.0	2.2

Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.


(Unaudited; Dollars in Millions)	SECOND QUARTER
					Percent Change
Sales to customers by segment of business		2026		2025	Total		Operations	Currency
Innovative Medicine
U.S.		$	9,979	9,161	8.9	%	8.9	—
International		6,405		6,041	6.0		3.6	2.4
		16,384		15,202	7.8		6.8	1.0
MedTech
U.S.		4,554		4,383	3.9		3.9	—
International		4,372		4,158	5.2		3.2	2.0
		8,926		8,541	4.5		3.6	0.9
U.S.		14,533		13,544	7.3		7.3	—
International		10,777		10,199	5.7		3.4	2.3
Worldwide		$	25,310	23,743	6.6	%	5.6	1.0

Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.


(Unaudited; Dollars in Millions)	SIX MONTHS
					Percent Change
Sales to customers by segment of business		2026		2025	Total		Operations	Currency
Innovative Medicine
U.S.		$	18,850	17,253	9.3	%	9.3	—
International		12,960		11,822	9.6		3.9	5.7
		31,810		29,075	9.4		7.1	2.3
MedTech
U.S.		9,013		8,596	4.8		4.8	—
International		8,549		7,965	7.3		3.2	4.1
		17,562		16,561	6.0		4.1	1.9
U.S.		27,863		25,849	7.8		7.8	—
International		21,509		19,787	8.7		3.6	5.1
Worldwide		$	49,372	45,636	8.2	%	6.0	2.2

Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.


(Unaudited; in Millions Except Per Share Figures)	SECOND QUARTER
	2026				2025				Percent Increase (Decrease)
	Amount			Percent to Sales	Amount			Percent to Sales
Sales to customers	$	25,310		100.0	$	23,743		100.0	6.6
Cost of products sold	8,051			31.8	7,628			32.1	5.5
Gross Profit	17,259			68.2	16,115			67.9	7.1
Selling, marketing and administrative expenses	6,432			25.4	5,889			24.8	9.2
Research and development expense	3,653			14.4	3,516			14.8	3.9
Interest (income) expense, net	62			0.2	48			0.2
Other (income) expense, net	331			1.3	107			0.5
Restructuring	34			0.2	64			0.3
Earnings before provision for taxes on income	6,747			26.7	6,491			27.3	3.9
Provision for taxes on income	1,213			4.8	954			4.0	27.1
Net earnings	$	5,534		21.9	$	5,537		23.3	(0.1)

Net earnings per share (Diluted)	$	2.27			$	2.29			(0.9)

Average shares outstanding (Diluted)	2,440.1				2,419.1

Effective tax rate	18.0		%		14.7		%

Adjusted earnings before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income	$	8,660		34.2	$	8,188		34.5	5.8
Net earnings	$	7,081		28.0	$	6,699		28.2	5.7
Net earnings per share (Diluted)	$	2.90			$	2.77			4.7
Effective tax rate	18.2		%		18.2		%

(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, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant gains from divestitures, the effects of an acquisition, restructuring, 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. 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 intangible asset amortization expense, significant gains from divestitures, the effects of an acquisition, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) 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.


(Unaudited; in Millions Except Per Share Figures)	SIX MONTHS
	2026				2025				Percent Increase (Decrease)
	Amount			Percent to Sales	Amount			Percent to Sales
Sales to customers	$	49,372		100.0	$	45,636		100.0	8.2
Cost of products sold	16,157			32.7	14,985			32.8	7.8
Gross Profit	33,215			67.3	30,651			67.2	8.4
Selling, marketing and administrative expenses	12,466			25.3	11,001			24.1	13.3
Research and development expense	7,180			14.5	6,741			14.8	6.5
In-process research and development impairments	36			0.1	—			—
Interest (income) expense, net	105			0.2	(80)			(0.2)
Other (income) expense, net	625			1.3	(7,214)			(15.8)
Restructuring	66			0.1	81			0.2
Earnings before provision for taxes on income	12,737			25.8	20,122			44.1	(36.7)
Provision for taxes on income	1,968			4.0	3,586			7.9	(45.1)
Net earnings	$	10,769		21.8	$	16,536		36.2	(34.9)

Net earnings per share (Diluted)	$	4.41			$	6.82			(35.3)

Average shares outstanding (Diluted)	2,443.9				2,423.3

Effective tax rate	15.5		%		17.8		%

Adjusted earnings before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income	$	16,481		33.4	$	16,199		35.5	1.7
Net earnings	$	13,695		27.7	$	13,405		29.4	2.2
Net earnings per share (Diluted)	$	5.60			$	5.53			1.3
Effective tax rate	16.9		%		17.2		%


	SECOND QUARTER			SIX MONTHS
(Dollars in Millions Except Per Share Data)	2026		2025	2026		2025
Net Earnings, after tax- as reported		$5,534	$5,537		$10,769	$16,536

Pre-tax Adjustments
Litigation related		267	57		597	(6,909)
Intangible Asset Amortization expense		1,245	1,267		2,492	2,387
Restructuring related 1		276	79		338	134
Orthopaedics separation related		258	—		377	—
Acquisition, integration and divestiture related		80	246		176	378
(Gains)/losses on securities		(213)	21		(272)	60
IPR&D impairments		—	—		36	—
Other		—	27		—	27

Tax Adjustments
Tax impact on special item adjustments 2		(368)	(321)		(792)	994
Tax legislation and other tax related		2	(214)		(26)	(202)
Adjusted Net Earnings , after tax		$7,081	$6,699		$13,695	$13,405
Average shares outstanding (Diluted)		2,440.1	2,419.1		2,443.9	2,423.3
Adjusted net earnings per share (Diluted)		$2.90	$2.77		$5.60	$5.53
Operational adjusted net earnings per share (Diluted)		$2.86			$5.43

1In the fiscal second quarter of 2026, the Company commenced a supply chain restructuring program primarily in the Innovative Medicine segment to exit certain manufacturing locations as part of its optimization efforts to streamline operations. The program is expected to be substantially completed by the end of fiscal year 2029 with estimated costs between $650 - $750 million, and include site and supplier exit costs, decommissioning and asset impairment costs. Restructuring expenses of $200 million, primarily related to asset impairments, were recorded in the fiscal second quarter of 2026.

In fiscal 2025, the Company initiated a restructuring program of its Surgery franchise within the MedTech segment to simplify and focus operations by exiting certain non-strategic product lines and optimize select sites across the network. Restructuring expenses of $59 million were recorded in the fiscal second quarter of 2026 ($114 million Q2 2026 YTD) and $29 million in the fiscal second quarter of 2025 ($29 million Q2 2025 YTD) and primarily include costs related to product exits. This program is expected to be substantially completed by the end of fiscal year 2026.

In fiscal 2023, the Company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expenses of $17 million in the fiscal second quarter of 2026 ($24 million Q2 2026 YTD) and $50 million in the fiscal second quarter of 2025 ($105 million Q2 2025 YTD) includes costs related to market and product exits. This program will be completed as of Q4 2026 at a total cost of approximately $1 billion.

(A) NON-GAAP FINANCIAL MEASURE “Adjusted operational sales growth" excludes acquisitions, divestitures and translational currency and is a non-GAAP financial measure. 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. Due to the variable nature of acquisitions and divestitures, and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods. The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry.


Segments
	Innovative Medicine		MedTech		Total
WW As Reported	9.4	%	6.0	%	8.2	%
U.S.	9.3	%	4.8	%	7.8	%
International	9.6	%	7.3	%	8.7	%

WW Currency	2.3		1.9		2.2
U.S.	—		—		—
International	5.7		4.1		5.1

WW Operational	7.1	%	4.1	%	6.0	%
U.S.	9.3	%	4.8	%	7.8	%
International	3.9	%	3.2	%	3.6	%

Caplyta	(0.9)				(0.6)
U.S.	(1.6)				(1.0)
International	0.0				0.0

All Other Acquisitions and Divestitures (A&D)	0.0		0.1		0.1
U.S.	0.0		0.2		0.1
International	0.2		0.0		0.1

WW Adjusted Operational Ex A&D	6.2	%	4.2	%	5.5	%
U.S.	7.7	%	5.0	%	6.9	%
International	4.1	%	3.2	%	3.7	%


	SECOND QUARTER
				% Change
	2026		2025	Reported		Operational(1)		Currency
INNOVATIVE MEDICINE SEGMENT(2)
ONCOLOGY
US	$	4,069	3,385	20.3	%	20.3	%	—	%
Intl	3,337		2,928	14.0		11.2		2.8
WW	7,406		6,312	17.3		16.1		1.2

DARZALEX
US	2,435		2,017	20.7		20.7		—
Intl	1,772		1,521	16.4		13.5		2.9
WW	4,207		3,539	18.9		17.6		1.3

CARVYKTI
US	472		358	31.7		31.7		—
Intl	185		81	*		*		*
WW	657		439	49.4		47.7		1.7

TECVAYLI
US	186		114	63.9		63.9		—
Intl	74		52	40.7		39.2		1.5
WW	260		166	56.5		56.1		0.4

TALVEY
US	112		82	36.2		36.2		—
Intl	62		24	*		*		*
WW	174		106	63.3		62.6		0.7

RYBREVANT / LAZCLUZE
US	190		139	36.8		36.8		—
Intl	99		41	*		*		*
WW	289		179	60.8		61.6		(0.8)

ERLEADA
US	396		378	4.7		4.7		—
Intl	599		530	12.9		9.7		3.2
WW	995		908	9.5		7.6		1.9

IMBRUVICA
US	149		239	(37.6)		(37.6)		—
Intl	449		496	(9.5)		(11.8)		2.3
WW	599		735	(18.6)		(20.2)		1.6

OTHER ONCOLOGY(3)
US	131		56	*		*		—
Intl	97		181	(46.5)		(45.7)		(0.8)
WW	226		238	(4.6)		(3.9)		(0.7)

See footnotes at end of schedule

(Dollars in Millions)


	SECOND QUARTER
				% Change
	2026		2025	Reported		Operational(1)		Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
IMMUNOLOGY
US	$	2,372	2,505	(5.3)	%	(5.3)	%	—	%
Intl	1,473		1,489	(1.0)		(3.5)		2.5
WW	3,844		3,993	(3.7)		(4.6)		0.9

TREMFYA
US	1,465		796	84.2		84.2		—
Intl	581		391	48.7		44.2		4.5
WW	2,046		1,186	72.5		71.0		1.5

SIMPONI / SIMPONI ARIA
US	260		305	(14.6)		(14.6)		—
Intl	358		387	(7.3)		(9.5)		2.2
WW	618		690	(10.5)		(11.7)		1.2

REMICADE
US	215		283	(24.1)		(24.1)		—
US Exports(4)	10		34	(71.0)		(71.0)		—
Intl	112		138	(18.4)		(20.5)		2.1
WW	338		455	(25.8)		(26.4)		0.6

STELARA
US	336		1,078	(68.8)		(68.8)		—
Intl	404		575	(29.7)		(31.1)		1.4
WW	740		1,653	(55.2)		(55.7)		0.5

OTHER IMMUNOLOGY
US	85		8	*		*		—
Intl	18		0	*		*		*
WW	104		8	*		*		*

NEUROSCIENCE
US	1,659		1,377	20.5		20.5		—
Intl	678		674	0.6		(1.1)		1.7
WW	2,337		2,051	14.0		13.4		0.6

SPRAVATO
US	514		366	40.7		40.7		—
Intl	70		50	41.2		34.7		6.5
WW	584		414	40.8		40.0		0.8

CAPLYTA
US	361		211	70.9		70.9		—
Intl	—		—	—		—		—
WW	361		211	70.9		70.9		—

INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA
US	738		732	0.8		0.8		—
Intl	278		260	6.6		5.1		1.5
WW	1,015		992	2.3		1.9		0.4

See footnotes at end of schedule


	SECOND QUARTER
				% Change
	2026		2025	Reported		Operational(1)		Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)

CONCERTA / methylphenidate
US	$	12	24	(48.6)	%	(48.6)	%	—	%
Intl	133		139	(4.2)		(4.8)		0.6
WW	146		164	(10.8)		(11.3)		0.5
OTHER NEUROSCIENCE
US	34		45	(22.9)		(22.9)		—
Intl	198		226	(12.3)		(13.7)		1.4
WW	232		270	(14.0)		(15.2)		1.2
PULMONARY HYPERTENSION (PH)
US	814		799	1.8		1.8		—
Intl	329		314	4.9		3.4		1.5
WW	1,143		1,113	2.6		2.2		0.4

UPTRAVI
US	386		382	1.0		1.0		—
Intl	108		94	15.0		10.1		4.9
WW	494		476	3.8		2.8		1.0

OPSUMIT / OPSYNVI
US	416		403	3.2		3.2		—
Intl	187		180	3.9		3.6		0.3
WW	602		582	3.4		3.3		0.1

OTHER PULMONARY HYPERTENSION
US	13		16	(16.9)		(16.9)		—
Intl	34		40	(14.3)		(12.7)		(1.6)
WW	47		55	(15.0)		(13.9)		(1.1)

INFECTIOUS DISEASES (ID)
US	300		320	(6.3)		(6.3)		—
Intl	463		484	(4.1)		(6.2)		2.1
WW	763		803	(5.0)		(6.3)		1.3

EDURANT / rilpivirine
US	3		6	(49.6)		(49.6)		—
Intl	347		354	(1.9)		(3.8)		1.9
WW	350		360	(2.7)		(4.6)		1.9

PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US	296		312	(5.1)		(5.1)		—
Intl	76		85	(10.4)		(12.8)		2.4
WW	372		396	(6.3)		(6.8)		0.5

OTHER INFECTIOUS DISEASES
US	1		2	(47.9)		(47.9)		—
Intl	40		45	(9.6)		(12.8)		3.2
WW	41		47	(11.6)		(14.6)		3.0

See footnotes at end of schedule


	SECOND QUARTER
				% Change
	2026		2025	Reported		Operational(1)		Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)

CARDIOVASCULAR / METABOLISM / OTHER (CVM)
US	$	765	776	(1.3)	%	(1.3)	%	—	%
Intl	124		154	(19.4)		(21.5)		2.1
WW	889		930	(4.3)		(4.7)		0.4

XARELTO
US	664		621	7.1		7.1		—
Intl	—		—	—		—		—
WW	664		621	7.1		7.1		—

OTHER
US	101		155	(35.0)		(35.0)		—
Intl	124		154	(19.4)		(21.5)		2.1
WW	225		309	(27.2)		(28.3)		1.1

TOTAL PH, ID, CVM
US	1,878		1,895	(0.9)		(0.9)		—
Intl	916		952	(3.6)		(5.5)		1.9
WW	2,795		2,846	(1.8)		(2.4)		0.6

TOTAL INNOVATIVE MEDICINE
US	9,979		9,161	8.9		8.9		—
Intl	6,405		6,041	6.0		3.6		2.4
WW	$16,384		15,202	7.8	%	6.8	%	1.0	%


	SECOND QUARTER
				% Change
	2026		2025	Reported		Operational(1)		Currency
MEDTECH SEGMENT(2)
CARDIOVASCULAR
US	$	1,426	1,364	4.5	%	4.5	%	—	%
Intl	978		948	3.2		1.1		2.1
WW	2,404		2,313	4.0		3.1		0.9

ELECTROPHYSIOLOGY
US	783		741	5.8		5.8		—
Intl	749		728	2.9		0.4		2.5
WW	1,533		1,468	4.4		3.1		1.3

ABIOMED
US	342		360	(4.8)		(4.8)		—
Intl	97		89	9.5		9.2		0.3
WW	440		448	(2.0)		(2.0)		0.0

SHOCKWAVE
US	268		233	14.6		14.6		—
Intl	67		58	14.5		15.4		(0.9)
WW	335		292	14.6		14.7		(0.1)

OTHER CARDIOVASCULAR
US	33		31	5.5		5.5		—
Intl	65		72	(10.5)		(13.2)		2.7
WW	98		104	(5.7)		(7.5)		1.8

SURGERY
US	1,094		1,043	5.0		5.0		—
Intl	1,559		1,512	3.1		0.5		2.6
WW	2,653		2,555	3.9		2.3		1.6

ADVANCED
US	499		477	4.7		4.7		—
Intl	691		687	0.5		(1.9)		2.4
WW	1,189		1,164	2.2		0.8		1.4

GENERAL
US	596		567	5.2		5.2		—
Intl	868		825	5.3		2.5		2.8
WW	1,464		1,391	5.2		3.6		1.6


	SECOND QUARTER
			% Change
	2026	2025	Reported		Operational(1)		Currency
MEDTECH SEGMENT(2)(Continued)
VISION
US	$565	557	1.4	%	1.4	%	—	%
Intl	887	813	9.1		8.5		0.6
WW	1,451	1,369	6.0		5.6		0.4

CONTACT LENSES / OTHER
US	445	429	3.6		3.6		—
Intl	580	536	8.1		7.9		0.2
WW	1,025	965	6.1		6.0		0.1

SURGICAL
US	120	128	(6.0)		(6.0)		—
Intl	306	277	10.9		9.6		1.3
WW	426	403	5.6		4.7		0.9

ORTHOPAEDICS
US	1,470	1,420	3.5		3.5		—
Intl	948	885	7.2		5.3		1.9
WW	2,418	2,305	4.9		4.2		0.7

HIPS
US	283	271	4.6		4.6		—
Intl	158	150	5.5		3.0		2.5
WW	441	421	4.9		4.0		0.9

KNEES
US	228	226	1.1		1.1		—
Intl	182	164	11.4		10.3		1.1
WW	410	389	5.5		5.0		0.5

TRAUMA
US	536	501	6.7		6.7		—
Intl	291	267	9.2		7.4		1.8
WW	827	768	7.6		6.9		0.7

SPINE, SPORTS & OTHER
US	423	422	0.2		0.2		—
Intl	317	305	4.0		1.9		2.1
WW	740	727	1.8		0.9		0.9

TOTAL MEDTECH
US	4,554	4,383	3.9		3.9		—
Intl	4,372	4,158	5.2		3.2		2.0
WW	$8,926	8,541	4.5	%	3.6	%	0.9	%


	SIX MONTHS
			% Change
	2026	2025	Reported		Operational(1)		Currency
INNOVATIVE MEDICINE SEGMENT(2)
ONCOLOGY
US	$7,684	6,398	20.1	%	20.1	%	—	%
Intl	6,695	5,592	19.7		13.2		6.5
WW	14,379	11,990	19.9		16.9		3.0

DARZALEX
US	4,643	3,846	20.7		20.7		—
Intl	3,528	2,930	20.4		13.7		6.7
WW	8,171	6,776	20.6		17.7		2.9

CARVYKTI
US	905	676	33.8		33.8		—
Intl	349	132	*		*		*
WW	1,254	808	55.1		52.1		3.0

TECVAYLI
US	313	219	43.1		43.1		—
Intl	148	98	51.1		45.2		5.9
WW	462	317	45.5		43.7		1.8

TALVEY
US	213	150	41.7		41.7		—
Intl	113	42	*		*		*
WW	326	192	69.3		67.2		2.1

RYBREVANT / LAZCLUZE
US	365	252	45.0		45.0		—
Intl	181	69	*		*		*
WW	546	320	70.4		69.9		0.5

ERLEADA
US	738	670	10.2		10.2		—
Intl	1,206	1,009	19.4		12.5		6.9
WW	1,944	1,679	15.8		11.6		4.2

IMBRUVICA
US	292	474	(38.4)		(38.4)		—
Intl	966	970	(0.4)		(6.7)		6.3
WW	1,259	1,444	(12.9)		(17.1)		4.2

OTHER ONCOLOGY(3)
US	216	110	94.5		94.5		—
Intl	203	341	(40.5)		(41.3)		0.8
WW	418	452	(7.4)		(8.0)		0.6

See footnotes at end of schedule

(Dollars in Millions)


	SIX MONTHS
			% Change
	2026	2025	Reported		Operational(1)		Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
IMMUNOLOGY
US	$4,227	4,701	(10.1)	%	(10.1)	%	—	%
Intl	2,997	2,999	(0.1)		(5.0)		4.9
WW	7,224	7,700	(6.2)		(8.1)		1.9

TREMFYA
US	2,507	1,395	79.7		79.7		—
Intl	1,147	747	53.6		45.5		8.1
WW	3,654	2,142	70.6		67.8		2.8

SIMPONI / SIMPONI ARIA
US	529	597	(11.2)		(11.2)		—
Intl	736	753	(2.3)		(6.9)		4.6
WW	1,265	1,349	(6.2)		(8.8)		2.6

REMICADE
US	484	597	(19.0)		(19.0)		—
US Exports(4)	28	44	(37.1)		(37.1)		—
Intl	248	281	(11.5)		(15.4)		3.9
WW	760	922	(17.6)		(18.7)		1.1

STELARA
US	556	2,059	(73.0)		(73.0)		—
Intl	839	1,219	(31.1)		(34.6)		3.5
WW	1,396	3,278	(57.4)		(58.7)		1.3

OTHER IMMUNOLOGY
US	123	9	*		*		—
Intl	27	0	*		*		*
WW	150	9	*		*		*

NEUROSCIENCE
US	3,153	2,345	34.5		34.5		—
Intl	1,359	1,353	0.4		(3.7)		4.1
WW	4,512	3,698	22.0		20.5		1.5

SPRAVATO
US	920	642	43.4		43.4		—
Intl	131	93	41.8		31.9		9.9
WW	1,052	734	43.2		42.0		1.2

CAPLYTA(5)
US	631	211	*		*		—
Intl	—	—	—		—		—
WW	631	211	*		*		—

INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA
US	1,496	1,357	10.2		10.2		—
Intl	558	537	3.7		(0.1)		3.8
WW	2,053	1,895	8.4		7.3		1.1

CONCERTA / methylphenidate
US	34	62	(45.5)		(45.5)		—
Intl	248	249	(0.4)		(3.0)		2.6
WW	282	312	(9.5)		(11.5)		2.0

See footnotes at end of schedule


	SIX MONTHS
				% Change
	2026		2025	Reported		Operational(1)		Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)

OTHER NEUROSCIENCE
US	$	72	73	(1.1)	%	(1.1)	%	—	%
Intl	422		474	(10.9)		(15.1)		4.2
WW	494		547	(9.6)		(13.2)		3.6

PULMONARY HYPERTENSION (PH)
US	1,645		1,543	6.5		6.5		—
Intl	633		595	6.4		2.3		4.1
WW	2,278		2,138	6.5		5.4		1.1

UPTRAVI
US	771		747	3.2		3.2		—
Intl	206		180	14.7		7.7		7.0
WW	977		927	5.4		4.0		1.4

OPSUMIT / OPSYNVI
US	849		766	10.9		10.9		—
Intl	359		339	6.1		2.7		3.4
WW	1,208		1,104	9.4		8.4		1.0

OTHER PULMONARY HYPERTENSION
US	25		31	(19.0)		(19.0)		—
Intl	68		77	(11.5)		(12.3)		0.8
WW	93		107	(13.6)		(14.2)		0.6

INFECTIOUS DISEASES (ID)
US	642		635	1.1		1.1		—
Intl	1,010		971	4.1		(2.5)		6.6
WW	1,652		1,605	2.9		(1.1)		4.0

EDURANT / rilpivirine
US	10		14	(29.3)		(29.3)		—
Intl	749		704	6.4		(0.3)		6.7
WW	759		718	5.7		(0.9)		6.6

PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US	630		617	2.1		2.1		—
Intl	185		183	1.2		(5.6)		6.8
WW	815		799	1.9		0.4		1.5

OTHER INFECTIOUS DISEASES
US	2		4	(51.6)		(51.6)		—
Intl	76		84	(9.0)		(13.7)		4.7
WW	78		88	(11.1)		(15.5)		4.4

See footnotes at end of schedule


	SIX MONTHS
				% Change
	2026		2025	Reported		Operational(1)		Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)

CARDIOVASCULAR / METABOLISM / OTHER (CVM)
US	$	1,499	1,631	(8.1)	%	(8.1)	%	—	%
Intl	266		312	(14.8)		(19.5)		4.7
WW	1,765		1,943	(9.2)		(9.9)		0.7

XARELTO
US	1,306		1,311	(0.3)		(0.3)		—
Intl	—		—	—		—		—
WW	1,306		1,311	(0.3)		(0.3)		—

OTHER
US	192		320	(39.9)		(39.9)		—
Intl	266		312	(14.8)		(19.5)		4.7
WW	458		632	(27.5)		(29.8)		2.3

TOTAL PH, ID, CVM
US	3,785		3,809	(0.6)		(0.6)		—
Intl	1,909		1,878	1.7		(3.8)		5.5
WW	5,694		5,686	0.1		(1.7)		1.8

TOTAL INNOVATIVE MEDICINE
US	18,850		17,253	9.3		9.3		—
Intl	12,960		11,822	9.6		3.9		5.7
WW	$	31,810	29,075	9.4	%	7.1	%	2.3	%


	SIX MONTHS
				% Change
	2026		2025	Reported		Operational(1)		Currency
MEDTECH SEGMENT(2)
CARDIOVASCULAR
US	$	2,825	2,625	7.6	%	7.6	%	—	%
Intl	1,956		1,790	9.3		5.2		4.1
WW	4,781		4,416	8.3		6.6		1.7

ELECTROPHYSIOLOGY
US	1,519		1,425	6.6		6.6		—
Intl	1,502		1,366	10.0		5.6		4.4
WW	3,022		2,791	8.3		6.2		2.1

ABIOMED
US	731		699	4.6		4.6		—
Intl	197		170	16.1		11.4		4.7
WW	928		868	6.8		5.9		0.9

SHOCKWAVE
US	510		439	16.1		16.1		—
Intl	130		110	17.7		17.2		0.5
WW	640		550	16.4		16.3		0.1

OTHER CARDIOVASCULAR
US	65		63	3.1		3.1		—
Intl	127		144	(11.9)		(15.3)		3.4
WW	192		207	(7.4)		(9.7)		2.3

SURGERY
US	2,140		2,045	4.7		4.7		—
Intl	3,024		2,906	4.1		(0.3)		4.4
WW	5,164		4,951	4.3		1.8		2.5

ADVANCED
US	976		934	4.5		4.5		—
Intl	1,337		1,303	2.6		(1.4)		4.0
WW	2,312		2,237	3.4		1.0		2.4

GENERAL
US	1,165		1,111	4.8		4.8		—
Intl	1,687		1,603	5.2		0.7		4.5
WW	2,852		2,714	5.1		2.4		2.7

(Dollars in Millions)


	SIX MONTHS
			% Change
	2026	2025	Reported		Operational(1)		Currency
MEDTECH SEGMENT(2)(Continued)
VISION
US	$1,144	1,123	1.9	%	1.9	%	—	%
Intl	1,672	1,526	9.6		6.7		2.9
WW	2,816	2,648	6.3		4.6		1.7

CONTACT LENSES / OTHER
US	913	881	3.7		3.7		—
Intl	1,081	1,003	7.7		5.0		2.7
WW	1,994	1,884	5.8		4.4		1.4

SURGICAL
US	231	242	(4.5)		(4.5)		—
Intl	591	523	13.1		9.8		3.3
WW	822	764	7.5		5.3		2.2
ORTHOPAEDICS
US	2,905	2,804	3.6		3.6		—
Intl	1,896	1,742	8.9		3.9		5.0
WW	4,801	4,546	5.6		3.7		1.9

HIPS
US	560	534	4.9		4.9		—
Intl	317	296	7.2		1.7		5.5
WW	877	830	5.7		3.8		1.9

KNEES
US	467	457	2.2		2.2		—
Intl	363	322	13.0		8.4		4.6
WW	830	778	6.7		4.8		1.9

TRAUMA
US	1,068	1,003	6.4		6.4		—
Intl	592	537	10.3		5.2		5.1
WW	1,660	1,540	7.8		6.0		1.8

SPINE, SPORTS & OTHER
US	810	810	0.0		0.0		—
Intl	624	588	6.1		1.3		4.8
WW	1,434	1,398	2.6		0.6		2.0

TOTAL MEDTECH
US	9,013	8,596	4.8		4.8		—
Intl	8,549	7,965	7.3		3.2		4.1
WW	$17,562	16,561	6.0	%	4.1	%	1.9	%