Q3 FY26 · Ended Sep 27, 2026 · View SEC filing
A legal charge erased profit, not cash
Net earnings fell to $210M while operating activities still produced $7.7B, because a litigation accrual is booked now and paid later.
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Operational sales still rose 6.0% after STELARA biosimilars cut about 4.2% from growth, with cancer and neuroscience drugs doing the lifting.
Sales rose 5.9% but gross profit only 3.7%, as STELARA's decline and acquisition amortization changed what each dollar of sales costs.
Research and development rose 26.7% to $4.7B, mostly from buying Firefly Bio, whose research asset was expensed in full at once.
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Business Lens describes Johnson & Johnson from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
