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1.1 Develop knowledge and critical understanding of the theories and frameworks underpinning the strategy process at the different levels where strategies are developed in organisations, including the international context

Word count: The total word limit for this TMA is 3300 words.
This TMA accounts for 25% of your total assessment for the module.
Your TMA will be marked by your tutor.
You will find everything you need to answer this TMA in the ‘Materials’ section of this document.
Learning outcomes
The module learning outcomes that will be assessed in this TMA are:
1.1 Develop knowledge and critical understanding of the theories and frameworks underpinning the strategy process 
at the different levels where strategies are developed in organisations, including the international context
2.1 Work with the appropriate data to generate information relevant to the development of strategy.
2.2 Critically analyse relevant information using suitable conceptual tools.
2.3 Critically apply conceptual knowledge to the development of strategy in different situations and contexts.
2.4 Argue coherently and justify a point of view using appropriate information and theoretical concepts.
3.2 Communicate effectively during strategy development using a wide range of media.
4.4 Reflect on how strategic management can inform practice and next steps of career progression and
Assignment tasks
TMA 03 is made up of four parts. You need to complete all of the parts.
Part 1
Read the documents and materials provided in ‘Materials’, ‘Part 1’.
Critically analyse the company’s current corporate strategy, following the guidance notes for this part.
Your answer to this part should be no more than 1000 words. (30 marks)
Part 2
Based on the analysis that you conducted in Part 1, give advice about potential strategic choices at the corporate level that
the company might pursue in the future, providing strategic recommendations.
Your answer to this part should be no more than 700 words. (20 marks)
Part 3
Read the documents and materials provided in ‘Materials’, ‘Part 3’.
Taking into consideration one of the industries in which the company is operating, analyse its current business strategy in
that industry and make strategic recommendations that can ensure business success in that industry in the future.
Evaluate the suitability of its business model for pursuing that strategy.
Your answer to this part should be no more than 1300 words. (35 marks)

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Part 4
Building on your work on Blocks 3 and 4, reflect on the skills you have developed so far and how the activities you have
carried out in these two blocks have enhanced those skills.
Your answer to this part should be no more than 300 words. (15 marks)
Guidance notes
Read the materials provided for each part. You can use them as supporting evidence in your TMA. All the sources you
use, including the materials provided in the TMA, should be correctly referenced.
You can also use materials from previous TMAs and external sources, provided that you reference them correctly.

Part 1
To approach this part of the TMA, you should rely on your study of Block 4. You should start your answer by identifying the
strategic choices that the company has made across the years. Think about the following questions:
Is the company diversified? Is it a multinational? Is it vertically integrated? Are there any instances of horizontal
How has the company grown? Week 17 summarises the main methods that companies can use to grow: organic
development, M&As and alliances. Week 20 provides additional information about entry mode choices in foreign
markets. For instance, in Activity 20.7 you discussed entry mode choices at Lamborghini.
Afterwards, you should focus on the strategic choices that are more relevant for the discussion of the case. You may
address questions such as the ones below. Focus on the questions that are relevant to the case.
How does Johnson et al.’s (2011) buy, ally, or DIY matrix (see Week 17 Section 4.1) apply to this case?
If you have identified any instances of vertical or horizontal integration, what do you think their drivers were? Can you
think of any potential benefits and downsides the company might have faced while pursuing the type of integration(s)
that you have identified? You can refer to Week 18 to revise vertical integration.
How would you define the company’s business portfolio? If you have identified any instances of product
diversification, what do you think their drivers were? Were the new businesses/industries related or unrelated? Can
you think of any potential benefits and downsides they might have faced? Refer to Week 19 for the topics related to
product diversification.
Why do you think the company ventured abroad? What can you say about the foreign locations that they chose and
their speed of internationalisation? Which strategic approach to competing internationally do they use? Can you think
of any potential benefits and downsides they might have faced while competing in more than one location?
Do you think that corporate political activity (CPA) was important in their expansion to new countries?
The activities in the five weeks of Block 4 will have helped to prepare you for this part of the TMA. In addition, part of
Tutorial 4 was devoted to the discussion of corporate strategy materials and their application to the case of Starling Bank.
It is important that you structure your answer well, incorporating the suggestions that you received during Tutorial 4.
A good answer to this question will be well-structured and demonstrate evidence of 1) critical thinking; 2) understanding of
the chosen theoretical concepts; and 3) ability to apply these concepts to the case.
Part 2
In this part, you are required to formulate recommendations about the company’s corporate strategy, justifying them with
appropriately selected theoretical concepts from Block 4 and evidence from the case study materials. Feel free to also use
case study materials from other parts of this TMA or from previous TMAs. Your recommendations should be informed by
the analysis you have carried out in Part 1, so you should show how the recommendations are built upon the analysis you
have done. These recommendations will need to be linked to the concepts and frameworks you have learnt about in Block
4 and should be applicable to the company of the case study. In preparing your answer, consider the following points:

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1. Think about two strategic recommendations you would like to give to the company regarding its future corporate
strategy. You can consider the different growth strategies presented in Block 4 Weeks 17, 18, 19 and 20, ranging
from vertical integration, product diversification and internationalisation. For instance, if you consider
internationalisation, you can think about possible markets that can be targeted for entering or exiting in the next few
years. For each recommendation, explain why you would recommend it with a solid theoretical grounding and
reference to the module frameworks and concepts.
2. In Week 21, you learnt about the importance of CPA. In discussing your recommendations, reflect on whether the
company should enact some CPA and of which type (see Week 21 Section 3.2)? Consider also what challenges they
could face in deploying CPA and how they could overcome them.
A good answer will be well-structured and will demonstrate critical thinking, understanding of the chosen concepts and
ability to apply these concepts to the case study.
Part 3
This part asks you to consider the business strategy of the company of the case study. You should select and consider one
industry where the company is active and focus on that.
You could divide the answer into three parts:
1. Analyse the current business strategy of the company in the industry you have selected. You need to apply Porter’s
generic strategies framework that you studied in Week 13 Section 4. You can position the company into the Porter
framework as you learnt in Week 14 Section 5. Following Lamborghini and Starling Bank examples, you should:

2. Provide strategic recommendations to the company on how to frame its future business strategy in the selected
industry. To answer this question you can look back at what you have done in Week 14 Section 5. It is important that
you give a good support to your answer explaining which choice the company should make and why, combining in
your answer the evidence from the case with theoretical concepts from the module (Weeks 13 and 14). You can also
draw a diagram demonstrated in Activity 14.11 representing the move(s) that the company could make from its
current position.
3. In defining your strategic recommendations at a business level, you should consider also what you recommended at
a corporate level in Part 2. You have the chance to establish a connection between the two sets of recommendations.
4. Discuss the current business model of the company identifying its type (see Week 15 Sections 4, 5 and 6) and
evaluating if the strategy you are proposing requires some change to the business model. You can look back at the
sections of Week 16 related to the business model of Starling Bank and the design of its value proposition (Activity
16.3) and of its business model canvas (Activity 16.6).
Part 4
You have learnt a lot in Blocks 3 and 4 about business and corporate strategies. As you have done for the previous TMAs,
take a step back and think about what you have learnt in these two blocks about decision making. This part is not about
the case study of the TMA but about your learning journey. To answer it, you can look back at the summaries that you
have prepared at the end of each week. Can you identify two main learning outcomes that you have achieved and discuss
how you have achieved them, explaining which activities have helped you? A good answer to this question is able to
ground the discussion in clear examples of how you have enhanced your skills. For instance, you can reflect on how the
application of a particular framework has enhanced some form of skills. You can conclude the answer by discussing how
this learning has progressed your understanding of strategic management as a discipline.
a. Identify the current strategy pursued by the company. You can look back at cost leadership definition and its
sources of advantage (Week 13 Sections 6 and 7), at broad differentiation strategy and its characteristics
(Week 14, Sections 1, 2 and 3), and focus strategies (Week 14 Section 3 and its subsections).
b. Discuss the pros and cons of the strategy chosen by the company. Revising the risks of cost leadership
(Week 13 Section 10.1) and broad differentiation (Week 14 Section 2.4) would be helpful.

Submitting your TMA

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You need to submit a single file for your assessment, including all parts of the assignment in one document. More
information about preparing and submitting your assignment can be found in the Assessment guide.
This section contains documents from different sources. Read them before answering the questions.
Part 1
You should use the materials in this section to help you complete Part 1 of the TMA.
1.1 Industries and markets of Johnson & Johnson

Source: Johnson & Johnson (2019) Annual Report 2018 [Online]. Available at http://www.investor.jnj.com/annual-
meeting-materials/2018-annual-report (Accessed 15 August 2019).

The business of Johnson & Johnson is conducted by more than 260 operating companies located in more than 60
countries, including the U.S., which sell products in virtually all countries throughout the world. The products made and
sold in the international business include many of those described above under “ — Segments of Business — Consumer,”
“ — Pharmaceutical” and “ — Medical Devices.” However, the principal markets, products and methods of distribution in
the international business vary with the country and the culture. The products sold in international business include those
developed in the U.S. and by subsidiaries abroad.
Investments and activities in some countries outside the U.S. are subject to higher risks than comparable U.S. activities
because the investment and commercial climate may be influenced by financial instability in international economies,
restrictive economic policies and political and legal system uncertainties.
1.2 The products categories of J&J
Source: Johnson & Johnson (2019) Products [Online]. Available at https://www.jnj.com/healthcare-products
(Accessed 15 August 2019).

Consumer Products
The Johnson & Johnson Family of Consumer Companies offers the world’s largest range of consumer healthcare
products. Our baby care, skin care, oral care, wound care, over-the-counter and women’s health products feature brands
trusted by consumers and healthcare professionals worldwide. By anticipating needs and creating solutions and
experiences, we help people live healthy, vibrant lives.
Medical Devices
At Johnson & Johnson Medical Devices Companies, we are using our breadth, scale and experience to reimagine the way
healthcare is delivered and help people live longer, healthier lives.
In a radically changing environment, we are making connections across science and technology to combine our own
expertise in surgery, orthopaedics, vision and interventional solutions with the big ideas of others to design and deliver
physician and patient-centric products and solutions.
As pioneers in medical devices, we continually focus on elevating the standard of care—working to expand patient access,
improve outcomes, reduce health system costs and drive value. We create smart, people-centered healthcare to help the
patients we serve recover faster and live longer and more vibrantly.
Pharmaceutical Products

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The Janssen Pharmaceutical Companies of Johnson & Johnson address some of the most devastating and complex
diseases faced in our time. With advanced biologic and other treatments, Janssen is investing in a transformative future,
changing the way diseases are prevented, intercepted, treated and cured.
1.3 Timeline

Source: adapted from Johnson & Johnson (2019) Timeline of Our Story [Online]. Available at
https://ourstory.jnj.com/timeline (Accessed 15 August 2019).

1886: Johnson & Johnson is Founded
Robert Wood Johnson, along with his two younger brothers, James Wood and Edward Mead, launched the company. Its
first factory opened in New Brunswick, New Jersey, with just 14 employees: eight women and six men. As president,
Robert Wood Johnson established the company’s focus on the future, its values, and inaugurated a legacy of generous
employee benefits. In less than a decade, the startup had blossomed into a thriving company. Johnson & Johnson boasted
400 employees and spanned 14 buildings by 1894.
1916: Chicopee Manufacturing Company Acquisition
Located in Chicopee Falls, Massachusetts, the Chicopee Manufacturing Company was one of the oldest textile mills in the
United States. To keep up the booming wartime demand for sterile dressings, Johnson & Johnson acquired Chicopee
during World War I to increase its manufacturing capacity.
1919: Johnson & Johnson Expands to Canada
After operating a Canadian sales force for three decades, Johnson & Johnson opened its first factory outside of the United
States in 1919. Johnson & Johnson products had previously been shipped to the Montreal-based Gilmour Brothers, who
then distributed them throughout Canada. The outbreak of World War I in 1914 swiftly increased demand for sterile
surgical supplies. Though the conflict ended in 1918, needs remained high. To expand its manufacturing capacity, Johnson
& Johnson opened the Gilmour Plant near Montreal, where it began producing surgical products for international
1924: Johnson & Johnson Expands Overseas
After evaluating locations worldwide, future company president Robert Wood Johnson II and his younger brother, Seward,
chose Slough, England, as the location for the company’s first overseas factory. In hiring all British workers and leadership,
the company ensured that it was tied to the needs of local consumers. Because the decentralized global structure was
successful first in Canada and then in England, it became the guiding principle as Johnson & Johnson continued to
expand its operations across the world.
1930: Johnson & Johnson Expands to Africa and Central America
In 1930, Johnson & Johnson opened operating companies in Mexico and South Africa.
1937: Johnson & Johnson Expands to South America
In 1937, Johnson & Johnson opened operating companies in Argentina and Brazil.
1937: Johnson & Johnson Launches Ortho Research Laboratories, Inc.
Johnson & Johnson founded the operating company, Ortho Research Laboratories, Inc. to manufacture women’s health
products in Linden, New Jersey.
1947: Johnson & Johnson Acquires G. F. Merson
Johnson & Johnson acquired G. F. Merson Ltd., a well-respected surgical supply company. The Scotland-based business
produced sterile surgical sutures that were so exceptional, none other than Dr. Joseph Lister, the father of antiseptic
surgery, was among their proud customers. The acquisition provided Johnson & Johnson with the plans and
manufacturing capacity to grow its locally managed suture business in the United Kingdom.

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1956: Johnson & Johnson Expands to the Philippines
Johnson & Johnson opened its first operating company in the Philippines in 1956.
1957: Johnson & Johnson Expands to India
Johnson & Johnson opened its first operating company in India in 1957.
1959: Johnson & Johnson Acquires Cilag Chemie
Johnson & Johnson acquired the Swiss company Cilag Chemie, expanding its presence in the growing field of
pharmaceutical medicines.
1959: Johnson & Johnson Acquires McNeil Laboratories
Johnson & Johnson acquired McNeil Laboratories in 1958. To expand its reach beyond consumer and medical supplies,
the company began acquiring pharmaceutical firms, including McNeil.
1961: Johnson & Johnson Acquires Janssen Pharmaceutica
Johnson & Johnson acquired Janssen Pharmaceutica, a Belgian research and drug company founded by Dr. Paul
Janssen–one of the century’s greatest innovators. Over the course of Dr. Janssen’s prolific career, he held more than 100
patents and authored and co-authored more than 850 scientific publications. Today, 11 Jansen treatments are included on
the World Health Organisation’s List of Essential Medicines.
1965: Johnson & Johnson Acquires Codman & Shurtleff
Johnson & Johnson purchased Codman & Shurtleff, a respected medical and surgical instruments company that was
founded in 1838. Established nearly 50 years before Johnson & Johnson, Codman & Shurtleff’s first connection to the
Johnson family dates back to 1876. In that year, Thomas Codman was an exhibitor at the Philadelphia Centennial
Exhibition alongside Robert Wood Johnson, who was there representing his then-company, Seabury & Johnson.
1985: Johnson & Johnson Expands to Egypt
Johnson & Johnson launched its first operating company in Egypt.
1985: Johnson & Johnson Expands to China
Johnson & Johnson opened its first operating company in China, Xian-Janssen Pharmaceuticals. It was the first western
healthcare joint venture in China.
1991: Johnson & Johnson Reaches Eastern Europe
With the fall of the Soviet Union and the subsequent opening of the former Eastern Bloc to American businesses, Johnson
& Johnson opened its first operating companies in Russia, the Czech Republic, and Poland.
1993: Johnson & Johnson Acquires RoC
Acquired by Johnson & Johnson in 1993, RoC was an award-winning French skincare company that specialized in
powerful anti-aging formulas. Founded by pharmacist Dr. Jean-Charles Lissarrague in 1957, the RoC Brand’s mission
was to create outstanding products that promoted skin health. Dr. Lissarrague was a passionate innovator who created the
first hypoallergenic skincare, as well as the first SPF sunscreen to protect skin from the harmful effects of UV rays.
1996: Johnson & Johnson Opens in Israel
Johnson & Johnson opened its first operating company in Israel in 1996.
1999: Centocor Joins Johnson & Johnson
Centocor, one of the first American biotechnology companies, was acquired by Johnson & Johnson. When biotech
became the next frontier in science, Johnson & Johnson made strategic acquisitions in the field to expand its research and
drug production capacity.
2002: Johnson & Johnson Acquires Tibotec-Virco


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Johnson & Johnson acquired Tibotec-Virco to help address the vast unmet needs of people living with HIV/AIDS and other
infectious diseases. Headquartered in Mechelen, Belgium, Tibotec-Virco applies the latest techniques in ultra-high
throughput screening, pharmacogenomics, molecular biology, and artificial intelligence to develop new drugs. The
acquisition gave Johnson & Johnson the means to expand its research and create pioneering HIV/AIDS medications.
2006: Acquiring Pfizer’s Consumer Healthcare Business
Johnson & Johnson acquired Pfizer’s consumer healthcare business, expanding the company’s capacity to meet rising
global needs. The acquisition brought iconic products, including LISTERINE , BENGAY , and NEOSPORIN , which fit
seamlessly with the company’s long history of creating products to improve oral care, pain relief, and wound care.
2009: Johnson & Johnson Acquires HealthMedia
Johnson & Johnson acquired HealthMedia, a health coaching software business. Founded in Ann Arbor, Michigan, the
company remains one of the city’s most successful startups of the 2000s. Renamed Health & Wellness Solutions, the
operating company continues to revolutionize software, creating digital solutions to improve the length and quality of users’
2009: Johnson & Johnson Acquires Human Performance Institute
The Human Performance Institute seeks to correct the ever-growing demands of the modern world of the human body.
Using science and multidisciplinary training programmes, the institute works with individuals and other companies to teach
people how to better manage their energy and achieve higher performance, helping to promote health and wellbeing at
work and beyond.
2011: Crucell Joins Johnson & Johnson
Crucell, a biopharmaceutical company specialising in vaccines and antibodies to fight infectious disease worldwide, was
acquired by Johnson & Johnson. The purchase equipped Johnson & Johnson with the tools to produce vaccines for the
first time. In 2011, Crucell marketed vaccines in the pediatric, travel, endemic, and respiratory fields with others in clinical
2012: Johnson & Johnson Acquires Synthes
Johnson & Johnson acquired the Swiss company Synthes, a pioneer in orthopaedic medical devices.
2013: Four Innovation Centres Across the Globe
Johnson & Johnson opened innovation centres in Boston (Massachusetts); Menlo Park (California); London (England);
and Shanghai (China). The centres support business teams, as well as science and transaction experts who focus on
identifying and building partnerships with emerging companies, entrepreneurs, and academic institutions for the
development of early-stage scientific innovation. Through company collaborations with innovators across industries, the
centers advance healthcare.
2015: Founding of Verb Surgical
Ethicon (a Johnson & Johnson company) in collaboration with Google Life Sciences founded Verb Surgical . The
company partners with physicians around the world to pioneer the future of surgery.
2016: JLABS @ Toronto Opens
Johnson & Johnson Innovation, LLC opens JLABS @ Toronto, its first JLABS facility in Canada. JLABS @ Toronto is a
40,000-square foot life sciences incubator, providing entrepreneurs shared lab space and offices, modular lab suites and
access to scientific, industry and capital funding experts as they work to build important and successful early-stage
companies. The new JLABS facility can accommodate up to 50 startups and opened with 22 companies representing a
range of sectors including therapeutics, medical devices and consumer health solutions.
2016: Johnson & Johnson Consumer Inc. Acquires Vogue International LLC
Johnson & Johnson Consumer Inc. acquires Vogue International LLC, the developer of OGX hair and personal products.
Taking their inspiration from nature, OGX products use natural ingredients such as coconut water, shea butter, argan oil,
pomegranate and ginger to bring innovative salon-quality hair care and personal care products directly to consumers.
® ® ®





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2016: Johnson & Johnson Acquires NeoStrata Company Inc.
Johnson & Johnson Acquires NeoStrata Company Inc., the makers of NEOSTRATA and
EXUVIANCE dermocosmetic products. Founded in 1988 by dermatologist Dr. Eugene J. Van Scott
and dermopharmacologist Dr. Ruey J. Yu, OMD, PhD, NeoStrata Company develops innovative compounds to
revolutionise the treatment of dermatological conditions, including anti-aging treatments.
2017: Johnson & Johnson Institute Opens
The Johnson & Johnson Institute opens to address worldwide needs in the healthcare professional education. Combining
26 separate facilities, online resources and partnerships, the Johnson & Johnson Institute gives on-site classes and virtual
reality and app-based surgical simulation training to more than 125,000 clinical and non-clinical healthcare professionals
each year. It focuses on addressing the demands of today’s healthcare delivery system in developed markets, as well as
emerging markets such as Brazil and China.
2017: Johnson & Johnson Acquires Abbott Medical Optics
Johnson & Johnson acquires Abbott Medical Optics to broaden its ability to meet vision care needs. The acquisition adds
products in cataract surgery, laser refractive surgery and consumer eye health to the company’s vision care business,
helping Johnson & Johnson address one of the largest and most underserved segments in health care: eye health.



Part 3
You should use the materials in this section to help you complete Part 3 of the TMA.
3.1 Johnson & Johnson growth strategies
Source: Johnson & Johnson (2011) Johnson & Johnson Highlights Strategies for Growth Through Differentiated

Medicines, Transformational Pipeline and Global Product Launches [Online]. Available at https://www.jnj.com/media-
transformational-pipeline-and-global-product-launches (Accessed 15 August 2019).

* * In process of launching 6 key pharmaceuticals products since 2009 * Executing therapeutic area strategy and
advancing key compounds in pipeline * Leveraging global market strategies using local insights to successfully grow
market share and expand geographic presence * *
New Brunswick, N.J. (May 26, 2011) – Johnson & Johnson will review growth strategies for its Pharmaceuticals business
at a meeting with the investment community today. Senior leaders from the company’s executive committee and
pharmaceuticals segment will review how the business plans to address some of the world’s major unmet medical needs
and outpace pharmaceutical market growth with an optimized product portfolio, robust pipeline and a demonstrated track
record of successful global product launches.
“Our people focus every day on addressing the world’s major unmet medical needs with superior science,” said Vice
Chairman, Executive Committee, Sheri McCoy. “Since our last Pharmaceuticals Business Review with analysts in 2009,
we have built a highly productive pharmaceuticals pipeline, with six key new products launching and another two pending
regulatory review, some in multiple geographies. Our disciplined approach to research and development, rigorous
investment prioritization, and internal and external sources of innovation has enabled us to be well-positioned for long-term
growth. Our revitalized portfolio and launch capabilities have led to market leadership in key categories.”
Johnson & Johnson’s pharmaceuticals business will highlight its plans for continuing to address major medical needs and
build on its market leadership in five therapeutic areas: Neuroscience; Cardiovascular and Metabolism; Immunology;
Oncology and Infectious Diseases/Vaccines. ...
Pharmaceuticals Growth Strategies

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Johnson & Johnson’s pharmaceuticals business generated $22.4 billion in sales last year, 36 percent of the company’s
total revenue, and it ranks as the world’s eighth largest pharmaceutical company and fifth largest biotech company. The
pharmaceuticals business saw over 6% operational growth in the first quarter of 2011 as new products contributed to
growth and core brands delivered solid performance.
Johnson & Johnson’s pharmaceuticals business has taken a disciplined management approach to increasing its efficiency
in order to invest in its pipeline and new product launches. For example, the pharmaceuticals business has seen a
significant increase in productivity over the last two years based on the ratio of sales per employee, and it continues
investing in R&D at higher rates than its competitive set.
Ms. McCoy added, “The health care industry is undergoing dramatic change and with science evolving rapidly, we are
well-positioned for the new demands, requirements, demographics and trends shaping the health care market.”
With the pharmaceutical market at an estimated $850 billion globally and expected to grow to more than $1 trillion by
2015, Ms. McCoy and other leaders will outline four strategies for growth for the company’s pharmaceuticals business:
Deliver differentiated medicines – In recent years, the pharmaceuticals business has transformed its portfolio by
expanding its leadership in immunology, deepened its expertise in oncology and entered vaccines. The company’s
pharmaceuticals businesses are in the process of launching six significant new products between 2009 and 2011,
some in multiple geographies. Two of the new products are pending regulatory review in the European Union (EU),
and two additional key compounds are in registration in key markets. Many of these products could represent
significant advances over the current standards of care.
Build transformational pipeline – The pharmaceuticals business’ prioritized investments in internal R&D, strategic
licensing arrangements, partnerships and select acquisitions continue to build a robust pipeline for the long-term. The
company’s pharmaceuticals businesses expect to file 11 new products and over 30 important line extensions
between 2011 and 2015.
Strengthen geographic presence – The pharmaceuticals business will grow its geographic footprint and increase
investments in emerging markets, evaluating market appropriate commercial approaches and portfolios. It also
remains focused on key developed markets. Japan, the second largest pharmaceuticals market, is a key growth
market and the company’s pharmaceuticals businesses have seven launches planned there for 2011.
Invest in talented people and organizational capabilities – The company’s pharmaceuticals business is
strengthening leadership capabilities locally, regionally and globally. A key component involves rotating key talent into
important roles to quickly accelerate skills development to address a growing and complex business environment.
The pharmaceuticals business is also building R&D capabilities in new technology areas and emerging markets.
Transformational Innovation
Paul Stoffels, M.D., Worldwide Chairman, Pharmaceuticals, will report today on the business’ approach to identifying
medical need and accessing the best science – internally and externally, to deliver differentiated medicines that will
address some of the most important unmet medical needs in the world today.
Johnson & Johnson’s pharmaceuticals business invested just over $4.4 billion in R&D programs last year. “Innovation and
sustained R&D productivity are key to our long-term future,” said Dr. Stoffels. “The future drivers for success in
pharmaceuticals will depend on matching the medical need with the best science and operational excellence. We have
strong therapeutic area expertise to anticipate the medical need and the scientific acumen to access the best science
internal or external.
“Our development programs incorporate an outcomes-based approach, embedding customer, physician, and patient
insights, while our broad-based expertise and global development operations allow us to deliver competitive products
globally, with enhanced productivity and accelerated timelines,” Stoffels added.
Joaquin Duato, Worldwide Chairman, Pharmaceuticals, will review the company’s growing core pharmaceuticals

businesses and key category strength. Among some of the core growth businesses being discussed today are market-
leading immunology medicines, REMICADE , SIMPONI , STELARA , and the long-acting injectable anti-psychotics, ® ® ®

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RISPERDAL CONSTA and INVEGA SUSTENNA . Mr. Duato, Dr. Stoffels and R&D leaders will discuss the company’s
expectations for new filings and early-stage compounds across the pharmaceuticals business’ five therapeutic areas
throughout the day.
“Launch leadership in the United States for 2010 demonstrates not only the strength of our pipeline but our capacity to
successfully commercialize important medicines,” says Mr. Duato. “We are leveraging that expertise in key markets around
the world, particularly as we launch important global compounds in 2011. I have great confidence in our ability to deliver
the promise of our portfolio to make a real difference in patients’ lives.”

® ® ® ®

3.2 Johnson & Johnson Outlines Strategy to Deliver Above-Market Growth at 2019
Pharmaceutical Business Review

Source: Johnson & Johnson (2019) Johnson & Johnson Outlines Strategy to Deliver Above-Market Growth at 2019

Pharmaceutical Business Review [Online]. Available at https://www.jnj.com/johnson-johnson-outlines-strategy-to-
deliver-above-market-growth-at-2019-pharmaceutical-business-review (Accessed 15 August 2019).

Highlights progress and commitment to deliver breakthrough medicines to meet the needs of patients around the
Plans to maximize potential of leading brands by filing more than 40 line extensions for regulatory approval through
Plans to file for regulatory approval or launch at least 10 new medicines between 2019 and 2023
Features a robust pipeline that leverages data science, advanced therapeutic modalities such as cell and gene
therapy, and a parallel focus on diseases and biological pathways
NEW BRUNSWICK, NJ – May 15, 2019 – Johnson & Johnson will host a meeting today with industry analysts to review
the strategy of its Janssen Pharmaceutical Companies to deliver above-market, compound annual growth through 2023.
The company will also discuss its progress across its six therapeutic areas, pipeline developments and capital allocation
Chairman and Chief Executive Officer Alex Gorsky and members of the Johnson & Johnson leadership team, along with
leaders of each of the company’s six therapeutic areas, including Immunology, Infectious Diseases & Vaccines,
Neuroscience, Cardiovascular & Metabolism, Oncology and Pulmonary Hypertension, will provide a detailed overview of
the company’s strategy to continue to drive a robust pipeline of innovative medicines to generate near- and long-term,
volume-driven growth.
“Our pharmaceutical organization has created breakthrough medicines to address some of society’s greatest unmet
medical needs, resulting in meaningful outcomes and benefits to patients,” said Mr. Gorsky. “That progress must continue
as we consider the future shape of healthcare. Greater transparency is already empowering families, leaders of healthcare
systems and insurers to make informed choices. Our broad base is well-positioned to continue delivering value creating
innovations that will improve outcomes.”
At today’s meeting, Johnson & Johnson will outline its key drivers to deliver above-market growth at Janssen. This strategy
Maximizing the clinical potential of the company’s industry-leading portfolio with new indications, patient

populations and lines of therapy. A well-established industry leader in R&D productivity, Janssen has earned major-
market regulatory approvals for 18 new products since 2011 spanning the company’s diverse portfolio across six

therapeutic areas. Janssen anticipates filing for regulatory approval of more than 40 line extensions through 2023 to reach
additional patients with unmet medical needs.
Delivering on the pipeline with new, differentiated medicines, with at least 10 NME filings and/or launches
anticipated through 2023. In 2019 to date, Janssen has gained U.S. regulatory approvals for two first-in-class molecular
entities, SPRAVATO (esketamine) nasal spray for treatment-resistant depression in adults and BALVERSA (erdaftinib) for

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the treatment of adults with bladder cancer that has spread or cannot be removed surgically. Additional medicines will be
discussed that have the potential to file or launch by 2023, including four that are new to the pipeline, as well as advanced
therapeutic modalities such as gene therapy and RNA therapeutics.
Forging new approaches to discovery, development and delivery of the company’s transformational medicines.
Janssen has an evolving and differentiated R&D strategy that embraces both disease areas and biological pathways, as
well as new technologies such as cell and gene therapy and broad-based application of data science. Together with strong
partnerships, this strategy will help Janssen discover, develop and deliver the next wave of transformational medicines.
Investing in innovation will continue to be a key pillar of Johnson & Johnson’s disciplined capital allocation
strategy. The company is also committed to delivering a competitive and increasing dividend, having paid $9.5 billion in
dividends to shareholders in 2018, and will continue to deploy capital to value-creating acquisitions with more than
$5 billion dollars invested in acquisitions across the company in recent months. Additionally, Johnson & Johnson is
focused on returning capital to shareholders through share repurchases and has completed more than one-third of its
$5 billion authorization announced last year as of March 2019. Together with its significant free cash flow and strong
balance sheet, the company intends to execute all levers of its capital allocation strategy to fund future growth
opportunities while providing attractive returns to shareholders.
As we all know that the strategic management assignments are hard to tackle especially TMA 03 becasue it encompasses 
case analysis of different organisations.

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