JNJ · 10-Q · 2026Q2 · Full report

Supply Chain Tariff Impact

JOHNSON & JOHNSON · 2026-07-23 · Importance 50 · Surprise 58

Tariffs increased cost pressure in the MedTech business during both the fiscal six months and second quarter of 2026. Management identified tariffs included in cost of products sold as a primary reason MedTech income before tax margin declined to 13.8% from 15.9% for the six months and to 13.2% from 14.1% for the quarter. The Company also faces potential additional tariffs, trade-protection measures and jurisdictional policies favoring domestic companies and technologies over foreign competitors.

Key facts

• Cost of products sold was impacted by tariffs in the MedTech business. source