Thank us you, everyone, joining Jessica, and thanks, today. for
results shared, previously second quarter the the reported As XXXX. for particularly first-half of and we segments strong across all
revenue operational quarter. of quarter, quarter an During XXXX. sequential adjusted X.X% on pharmaceuticals excluding Similarly, X.X% over accelerated to growth increased the sales MedTech COVID-XX basis, by the first sales operational first strong a second already over
long-term strategy provide foundation and and the the for growth During around testament the hard colleagues These world. talented first-half work strong our executed milestones. clinical and regulatory of advancements long-term our the business a against of dedication to achieved and a year we key are
made also the of toward separation progress We considerable Kenvue.
On through Kenvue conditions, market consideration net to on separation. split partial pleased with subject transactions exchange $XX.X our an transfer of next proceeds update May toward as Johnson of the an Kenvue in Consumer separation paid were to the off of as from our the business, initial offering we to Kenvue, Today, to is our for the billion step next separation. connection the announce step the offer intention the shares public Johnson and & debt in financing Xth, Health
form & common exchange Johnson's the offer. subject choice As is shares of of cash exchange number have Kenvue their future the federal to Johnson & for Johnson, the of provides financial one off of proposed & manner separation potential believe or & U.S. stock and part reducing Johnson split tax & shares terms time at a all some shares an without advantageous offer to income stock for to stock of common none Johnson Johnson the will or exchange tax Johnson Johnson in specifically shareholders a a an of the We overall for large flexibility. offer, of shareholders, Kenvue purposes outstanding our free Johnson acquire Johnson opportunity common of most
tender tender understand well the set details have base providing additional exchange of to would are exchange of occur most exchange its as we Kenvue on early following no but updates Offer shares. The be on but days. We likely a the this committed have Further, inclusive would completion market At the the off could as the own discounts, our conditions, an applicable of launch you the have questions the would share, shareholder terms upon to stated the offer, will, period made timing point, as contemplated for may of launch election as process. that to split exact duration this as to of depend are exchange about coming offer that decision earlier, the the there launch. timely appropriate. as
allocation. flow net ended billion approximately and prior turn debt and now net inclusive position for cash and approximately the was year. through $X.X XX compared a the $XX approximately Let's to We to second securities second quarter of $X $XX Free billion of cash capital cash of with billion $X.X billion marketable the $XX billion, in of billion, Kenvue approximately quarter of debt. debt
tax The of to second quarter audit payments related and TCJA approximately matters. related $X past reflects billion elevated
better annual followed priority continued increasing opportunities business strategic to investment highest for growth, in an Our new dividends, capital being drive our repurchases inorganic on allocation and and adding patients, solutions when with basis, by priorities remain the unchanged attractive. share for
XX% the two of treatment generation first-half recently our CAR-Ts announced therapy In includes of April, we or the external billion partnership investments This dividend XXXX was $X in Biomedicine Group for this the share further with September our program of the B-cell authorized $X.X cell and approximately in billion next malignancies of consecutive as Cellular returned we shareholders sales. our broadening completion to on investment of first-half portfolio. of Our R&D such XXst repurchase billion increases of combination with and in $X.X earlier our announced completed year year, Board XXXX, in the XXXX. by
the for outlook XXXX. our discuss Let's of balance
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the non-controlling development interest investment Group. Cellular Specifically approximate Biomedicine related cost process to related the in lost our and and in Kenvue income acquired the in XX% research to
to up or X%. growth of to for billion XXXX the range sales billion range and currency operational the X% of expect growth $X.X on adjusted in full-year X% the in constant sales to basis in $XX.X X% now billion of to the be $XXX.X operational a We range
at quarter, week the on as Last spot mid-last Euro noted that know, dollar at we speculate relative rate of we The As Euro utilized you $X.XX. currency we $X.XX. U.S. remains spot movements. don't rate to the future
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sales As X.X%, of between to currency points now billion. in of XXX X.X% to a growth XXXX midpoint $XX.X with such, we basis compared foreign estimated estimate approximately negative a resulting of reported impact translation
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the exchange predicting foreign impact. not of exchange While reported share adjusted I our assumes currency referenced the movements, earnings per additional year previously rates impact recent for assuming no
X% As $XX.XX reported year growth to midpoint. or of the such, our range adjusted increases earnings share at a share per of per the reflecting the midpoint, $X.XX $XX.XX to by at for $XX.XX
normal not we by qualitative your quarterly me staffing guidance year on we seasonality. in segment or stable While let healthcare basis, procedure to of back some modeling. with half anticipate MedTech, levels volumes a to considerations the continue do and In the offer support provide
the commercial We of as year. Russia in as expect are Headwinds in in from first-half to to higher second-half volume than the the international China, sanctions products attributable from launched recently based in execution supply. expected competitive impacts continued performance potential and well procurement improvement be
In above to products. XXth Pharmaceuticals, our key consecutive and newly XXXX, by launched of assets driven deliver expect in uptake continue we year of growth to continued our market
the consumer growth consideration increases price in into the modeling it's in the higher expect of with the take continued year. XXXX, important first-half. half health rates to prior back year the growth slightly half We strong comparisons in back of than year When lapping
sales clinical our our momentum in target strong upcoming billion. the business ability pharmaceutical confident the in $XX to Given mentioned remain earlier and pharmaceutical very XXXX our of milestones meet we
long-term for that catalysts year near the remainder and important of can many value. drive have the meaningful we ahead, Looking
in products the Beyond in factor across MedTech significant performance to near-term, we trajectory business. with drive are the continuing growth a execution and recently higher innovative separation, MedTech commercial being continued better launched the the in driving
Many the significant opportunity ahead. there early their means are mentioned in of solutions which are commercialization, still
electrophysiology second-half year. the U.S. during year. by commercialization Orthopaedics, the in this countries VELYS example, the in MICRO assisted key approvals the are excited to of solution, we it of Europe, recently For regulatory In launch the of in this begin end the we to QDOT robotic and plan in European Catheter received
Vision, ACUVUE this launched the we in & And growth are from and innovations Johnson market. which to driving and market seeing growth look Vision the growing such benefits other recently is Johnson's recent of forward our share multifocal, continued large X-Day as OASYS in launches. We presbyopia
to myeloma. Related of number and clinical multiple (ph) front key of future relapsed refractory assets, are a our we regulatory expected pipeline advancements important in for upcoming milestones [daratumumab] including regulatory in about pharmaceutical on excited the our or business, is with our there approval
results with potentially upcoming the data cancer, TREMFYA Phase Phase Clinically, Crohn's in for TAR-XXX that data a in line study we plus in cell an front medical at the Phase of X of colitis. data for bladder rheumatoid and opportunity data cancer non-muscle X arthritis. lazertinib The to meeting. for invasive present Nipocalimab major lung X disease expect MARIPOSA for ulcerative and non-small RYBREVANT
and transparency hosting pricing of we couple missed enterprise on to Humanity report patent be all Also, our and business recently items you of A Stock case our them, U.S. an report found featuring reminder December published U.S. that be both In table, at our we the a Pharmaceutical MedTech website. will can Health highlight. other Xth. our review New York on Pharmaceutical Exchange which For
of we operationally and upon and of in by build my strong to both first-half remarks that continue expect financially this year year. had reiterating the that we to conclude prepared have I'll a the second-half momentum
With to will that, over turn Haas. now Erik the call I
