Johnson and Johnson 2006 Annual Report Download - page 51

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COMMON STOCK MARKET PRICES
The Company’s common stock is listed on the New York Stock
Exchange under the symbol JNJ. The composite market price
ranges for Johnson & Johnson common stock during 2006 and
2005 were:
2006 2005
____________________ ____________________
High Low High Low
First quarter $63.10 56.70 68.68 61.20
Second quarter 62.00 57.32 69.99 64.43
Third quarter 65.13 59.68 65.35 61.65
Fourth quarter 69.41 64.50 64.60 59.76
Year-end close $66.02 60.10
Cautionary Factors That May Affect
Future Results
This Annual Report contains forward-looking statements.
Forward-looking statements do not relate strictly to historical
or current facts and anticipate results based on management’s
plans that are subject to uncertainty. Forward-looking state-
ments may be identified by the use of words like “plans,”
“expects,” “will,” “anticipates,” “estimates” and other words of
similar meaning in conjunction with, among other things, discus-
sions of future operations, financial performance, the Company’s
strategy for growth, product development, regulatory approval,
market position and expenditures.
Forward-looking statements are based on current expecta-
tions of future events. The Company cannot guarantee that
any forward-looking statement will be accurate, although the
Company believes that it has been reasonable in its expectations
and assumptions. Investors should realize that if underlying
assumptions prove inaccurate or that unknown risks or uncer-
tainties materialize, actual results could vary materially from the
Company’s expectations and projections. Investors are therefore
cautioned not to place undue reliance on any forward-looking
statements. The Company does not undertake to update any for-
ward-looking statements as a result of new information or future
events or developments.
Risks and uncertainties include general industry conditions
and competition; economic conditions, such as interest rate and
currency exchange rate fluctuations; technological advances,
new products and patents attained by competitors; challenges
inherent in new product development, including obtaining regu-
latory approvals; challenges to patents; U.S. and foreign health
care reforms and governmental laws and regulations; trends
toward health care cost containment; increased scrutiny of the
health care industry by government agencies; product efficacy or
safety concerns resulting in product recalls or regulatory action.
The Company’s report on Form 10-K for the year ended
December 31, 2006 includes, in Exhibit 99, a discussion of
additional factors that could cause actual results to differ from
expectations. The Company notes these factors as permitted
by the Private Securities Litigation Reform Act of 1995.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION 49