Brussels, 1 July 2004 -- Janssen Pharmaceutica is performing as expected. In 2003, the company achieved a turnover of 1,876 million euros and a net profit of 355 million euros. The employee headcount in Belgium rose by 152 units to a workforce of 4,386. Of particular note were the company’s investments: 166 million euros in buildings, equipment and new technology, and 868 million euros in Research & Development. The group is now working on a number of very promising new products that should ensure future growth. For the first time in Belgium, the company has also presented its Sustainability Report.

Strong financial results
Janssen Pharmaceutica realizes the major portion of its turnover within the Johnson & Johnson group. This turnover grew by 12% to 1.87 billion euros, of which 95% came from exports. Net profits grew to 355 million euros. The payroll rose by 41 million euros to 378 million euros.

The cash flow was at 939 million euros. Cash-flow development over past years shows that the company’s financial health is fundamentally sound.

Most important events in 2003
2003 will be remembered as the year in which Dr. Paul Janssen passed away. He left us a range of medicines that continue to enhance the quality of life of tens of millions of people. His scientific and entrepreneurial vision will further inspire the company to carry forward his work.

2003 was for Janssen Pharmaceutica a new year of major investment in buildings and equipment, predominantly in the new buildings for its Discovery Research (€67 million) and Drug Safety Evaluation departments (€44 million), and the Clinical Supply Unit (€16 million). In addition, a new center has been opened for phase-1 clinical research, in collaboration with the Jan Palfijn Hospital in Merksem.

Within the Belgian production operation, of particular note is the increased cooperation within the group, which was manifest in such developments as the “coating” for CYPHER™, the sirolimus-eluting stent, and the new EVRA® contraceptive patch.

Investing in research - a promising pipeline
Belgian investment in R&D reached a record 868 million euros, up by more than 60 million euros, or around one-third of all R&D expenditure by companies in Flanders. Johnson & Johnson’s pipeline includes promising new drugs, particularly in the fields of cancer, infectious diseases, the central nervous system and pain relief.

Johnson & Johnson’s results
In 2003, Johnson & Johnson achieved a turnover of 41.9 billion dollars (up 15.3%). Group net profit stood at 7.2 billion dollars. With a turnover of 19.5 billion dollars, the pharmaceutical group accounted for 46% of this sales volume and thus ranked as the fourth largest pharmaceutical company in the world.

Within the Johnson & Johnson group, Janssen Pharmaceutica is a worldwide Center of Excellence for integrated R&D, production and general services. In Belgium, the company has facilities in Beerse, Geel and Olen. It has a total of 4,386 employees, and in addition 260 persons work at Janssen-Cilag in Berchem, which is responsible for the Belgian and Luxemburg markets. With over 80 drugs to its name, the company is one of the most innovative in the world and its products are used worldwide in human and veterinary medicine and for material protection. The company is involved in a wide variety of areas, such as gastroenterology, diseases affecting the central nervous system, oncology, pain control and infectious diseases.