Johnson & Johnson Announces Stock Repurchase Program

14-Feb-2002

New Brunswick, NJ (February 13, 2002) -- Johnson & Johnson today announced that its Board of Directors has approved a stock repurchase program, authorizing the company to buy back up to $5 billion of the corporation’s common stock. Repurchases will take place on the open market from time to time based on market conditions. The repurchase program has no time limit and may be suspended for periods or discontinued.

On January 22, 2002 Johnson & Johnson announced sales and earnings for the fiscal year 2001. Sales of $33 billion and net earnings, excluding special charges, of $5.9 billion increased by 10.6% and 18%, respectively, over the year 2000.

Johnson & Johnson adjusted average shares outstanding at year-end 2001 were 3,099.3 million on a diluted basis.

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