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Johnson & Johnson (JNJ) Presents at Raymond James 42nd Annual Institutional Investors Conference Call Transcript

Mar. 02, 2021 9:36 PM ETJohnson & Johnson (JNJ) Stock
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Johnson & Johnson (NYSE:JNJ) Raymond James 42nd Annual Institutional Investors Conference Call March 2, 2021 9:10 AM ET

Company Participants

Joe Wolk - Chief Financial Officer

Conference Call Participants

Jayson Bedford - Raymond James

Jayson Bedford

Okay, I think we're going to get started now. So good morning, and welcome to the 42nd Annual Raymond James Institutional Investors Conference. My name is Jayson Bedford. I cover the medical device sector at Raymond James. So it's really our pleasure to have J&J with us this morning. A name that's obviously been in the news quite a bit over the last few days for the great work they've done on the vaccine and the important role they'll play in getting us all back to a state of let's call it improved normalization. So with us from J&J, we have the company's CFO, Joe Wolk; company's VP of Investor Relations, Chris DelOrefice, and Senior Director of Investor Relations, Lisa Romanko.

Question-and-Answer Session

Q - Jayson Bedford

So with that Joe, first, obviously, congratulations on the vaccine, the social good that cannot be overstated here, so well done and thank you. I hate to put a critical investment angle to this. But this is the forum we're in. So you stated that you sell the vaccine on a not-for-profit basis in the pandemic. So it certainly helps revenue, but technically, it wouldn't impact earnings. At least that's my interpretation of not for profit, so most investors do value J&J on earnings. So outside of the extremely important social good that J&J is delivering, why should investors in J&J care about the vaccine?

Joe Wolk

Yeah, certainly a pleasure to be here with you and your audience, I hope everybody is safe and well. And what an amazing feat by Dr. Paul Stoffels and his team, our manufacturing team to

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