Overview Financials News + Filings Key Docs Charts Transactions Holdings Ownership Insiders
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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| U.S. | 18,884.0 | 19,267.0 | 18,217.0 | 16,645.0 | 16,269.0 | 18,194.0 | 19,354.0 | |
| Other International | 3,928.0 | 3,164.0 | 2,337.0 | 1,993.0 | 1,852.0 | 2,602.0 | 4,671.0 | |
| Letairis | 196.0 | 206.0 | 314.0 | 618.0 | 943.0 | 887.0 | | 700.0 |
| AmBisome | 497.0 | 540.0 | 436.0 | 407.0 | | 366.0 | | 350.0 |
| Other | 3,776.0 | 4,128.0 | 3,385.0 | 2,786.0 | 3,063.0 | 4,058.0 | 6,365.0 | 31,589.0 |
| Total revenues [+] | 27,281.0 | 27,305.0 | 24,689.0 | 22,449.0 | 22,127.0 | 26,107.0 | 30,390.0 | 32,639.0 |
| Products | | | | | | | | 32,151.0 |
| Other | | | | | | | | 488.0 |
| Revenue growth [+] | -0.1% | 10.6% | 10.0% | 1.5% | -15.2% | -14.1% | -6.9% | 31.1% |
| U.S. | -2.0% | 5.8% | 9.4% | 2.3% | -10.6% | -6.0% | | |
| Other International | 24.1% | 35.4% | 17.3% | 7.6% | -28.8% | -44.3% | | |
| Letairis | -4.9% | -34.4% | -49.2% | -34.5% | 6.3% | | | 17.6% |
| AmBisome | -8.0% | 23.9% | 7.1% | | | | | -9.8% |
| Royalty, contract and other revenues | 0.7% | -11.1% | 1.2% | -26.7% | 1.1% | 1.8% | | |
| Cost of goods sold | 5,657.0 | 6,601.0 | 4,572.0 | 4,675.0 | 4,853.0 | 4,371.0 | 4,261.0 | 4,006.0 |
| Gross profit | 21,624.0 | 20,704.0 | 20,117.0 | 17,774.0 | 17,274.0 | 21,736.0 | 26,129.0 | 28,633.0 |
| Gross margin | 79.3% | 75.8% | 81.5% | 79.2% | 78.1% | 83.3% | 86.0% | 87.7% |
| Selling, general and administrative | 5,673.0 | 5,246.0 | 5,151.0 | 4,381.0 | 4,056.0 | 3,878.0 | 3,398.0 | 3,426.0 |
| Research and development | 4,977.0 | 4,601.0 | 4,927.0 | 4,055.0 | 3,920.0 | 3,734.0 | 5,098.0 | 3,014.0 |
| Equity in earnings | | | | | | | | |
| EBITDA [+] | 13,077.0 | 12,907.0 | 11,519.0 | 10,742.0 | 10,727.0 | 15,410.0 | 18,791.0 | 23,291.0 |
| EBITDA growth | 1.3% | 12.0% | 7.2% | 0.1% | -30.4% | -18.0% | -19.3% | 42.8% |
| EBITDA margin | 47.9% | 47.3% | 46.7% | 47.9% | 48.5% | 59.0% | 61.8% | 71.4% |
| Depreciation | 303.0 | 350.0 | 280.0 | 255.0 | 226.0 | 233.0 | 177.0 | 161.0 |
| EBITA | 12,774.0 | 12,557.0 | 11,239.0 | 10,487.0 | 10,501.0 | 15,177.0 | 18,614.0 | 23,130.0 |
| EBITA margin | 46.8% | 46.0% | 45.5% | 46.7% | 47.5% | 58.1% | 61.3% | 70.9% |
| Amortization of intangibles | 1,800.0 | 1,700.0 | 1,200.0 | 1,149.0 | 1,203.0 | 1,053.0 | 981.0 | 937.0 |
| EBIT [+] | 10,974.0 | 10,857.0 | 10,039.0 | 9,338.0 | 9,298.0 | 14,124.0 | 17,633.0 | 22,193.0 |
| EBIT growth | 1.1% | 8.1% | 7.5% | 0.4% | -34.2% | -19.9% | -20.5% | 45.4% |
| EBIT margin | 40.2% | 39.8% | 40.7% | 41.6% | 42.0% | 54.1% | 58.0% | 68.0% |
| Non-recurring items [+] | 3,644.0 | 939.0 | 5,968.0 | 5,051.0 | 1,098.0 | | | |
| Asset impairment | 2,700.0 | | | | | | | |
| In-process research & development | 944.0 | 939.0 | 5,968.0 | 5,051.0 | 1,098.0 | | | |
| Interest expense | 935.0 | 1,001.0 | 984.0 | 995.0 | 1,077.0 | 1,118.0 | 964.0 | 688.0 |
| Interest expense | 935.0 | 1,001.0 | 984.0 | 995.0 | 1,077.0 | 1,118.0 | 964.0 | 688.0 |
| Other income (expense), net | -581.0 | -639.0 | -1,418.0 | 1,868.0 | 676.0 | 523.0 | 428.0 | 154.0 |
| Pre-tax income | 5,814.0 | 8,278.0 | 1,669.0 | 5,160.0 | 7,799.0 | 13,529.0 | 17,097.0 | 21,659.0 |
| Income taxes | 1,248.0 | 2,077.0 | 1,580.0 | -204.0 | 2,339.0 | 8,885.0 | 3,609.0 | 3,553.0 |
| Tax rate | 21.5% | 25.1% | 94.7% | | 30.0% | 65.7% | 21.1% | 16.4% |
| Minority interest | -26.0 | -24.0 | -34.0 | -22.0 | 5.0 | 16.0 | -13.0 | -2.0 |
| Net income | 4,592.0 | 6,225.0 | 123.0 | 5,386.0 | 5,455.0 | 4,628.0 | 13,501.0 | 18,108.0 |
| Net margin | 16.8% | 22.8% | 0.5% | 24.0% | 24.7% | 17.7% | 44.4% | 55.5% |
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| Basic EPS [+] | $3.66 | $4.96 | $0.10 | $4.24 | $4.20 | $3.54 | $10.08 | $12.37 |
| Growth | -26.2% | 4965.0% | -97.7% | 0.9% | 18.7% | -64.9% | -18.5% | 55.6% |
| Diluted EPS [+] | $3.64 | $4.93 | $0.10 | $4.22 | $4.17 | $3.51 | $9.94 | $11.91 |
| Growth | -26.2% | 4965.0% | -97.7% | 1.1% | 18.9% | -64.7% | -16.5% | 62.0% |
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| Dividends per share [+] | $2.92 | $2.84 | $2.72 | $2.52 | $2.28 | $2.08 | $1.84 | $1.29 |
| Growth | 2.8% | 4.4% | 7.9% | 10.5% | 9.6% | 13.0% | 42.6% | |
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| Shares outstanding (basic) [+] | 1,255.0 | 1,256.0 | 1,257.0 | 1,270.0 | 1,298.0 | 1,307.0 | 1,339.0 | 1,464.0 |
| Growth | -0.1% | -0.1% | -1.0% | -2.2% | -0.7% | -2.4% | -8.5% | -3.8% |
| Shares outstanding (diluted) [+] | 1,262.0 | 1,262.0 | 1,263.0 | 1,277.0 | 1,308.0 | 1,319.0 | 1,358.0 | 1,521.0 |
| Growth | 0.0% | -0.1% | -1.1% | -2.4% | -0.8% | -2.9% | -10.7% | -7.7% |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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