with a five-year commitment to the United  Nations’ renewed efforts to advance the  Millennium Development Goals of reducing  mortality in women and children by  2015 .  Our commitment aims to help as many as  120  million women each year for the next  five years, reaching  50  countries. It includes  initiatives such as mobile health  information for expectant mothers, safe  birth programs and  200  million doses  annually of mebendazole, a treatment for  intestinal worms in children. brands and smaller sizes in certain markets.  Despite the headwinds, we saw positive  momentum in emerging markets, where  sales grew by double digits. Operational sales decreased in most of  our consumer franchises. However, we saw  growth in many product lines, including  DABAO ®  skin care products,  NICORETTE ® ,  JOHNSON’S ® ,  AVEENO ®  and  LE PETIT  MARSEILLAIS ® , where our science-based  innovations and expansion into emerging  markets continued to drive strong results.  We also introduced new product  innovations and line extensions to iconic  brands, such as  JOHNSON’S ® NATURAL ® ,  LISTERINE ® ZERO ™ ,  PRECISE ™  from the  makers of  TYLENOL ® ,  ZYRTEC ®  Liquid  Gels and  CYTOMIMIC ™  technology in  several new skin care products. Our Consumer business continues to distinguish itself with science-based innovations, proprietary technologies and  recommendations by health care professionals. More than a  billion people around the world count on our consumer products  for themselves and their families. preventing diseases and reducing stigma and disability in  underserved communities. With the challenges of  2010 , and within the context of our 125 th anniversary in  2011 , we are reminded more than ever of our heritage. Unwavering commitment to the principles embodied  in Our Credo and an appreciation for the elements of our  operating model are as strong today as at any time in our history.  I commit to you, our shareholders, that as we enter  2011, Johnson & Johnson is well-positioned for future growth. We will  restore quality and confidence in our products. We will continue  to introduce differentiated new products that advance important  unmet needs in human health and well-being. We will continue  building and advancing pipelines that fuel our long-term success.  And we’ll continue expanding into new health care categories and  emerging markets that offer unprecedented opportunities to  touch more people around the world with better care. We are not perfect; we will make mistakes. And when we do, we hold ourselves accountable to correct them. That  accountability is inherent in Our Credo. Its tenets demand a  special level of responsibility … first to patients and customers, then to our employees, our communities and our shareholders. Our Credo remains our North Star. Another enduring strength is the character of the people of  Johnson & Johnson. Despite diverse businesses, we are united by  an extraordinary bond—a commitment to caring for one person  at a time and touching the world—originating from Our Credo  values. It is a quiet sense of purpose focused around the lives we  affect, the families and children we touch, and the professionals  who support their health. Our products, our pipeline and our global presence make us  strong as a company. Our people and Our Credo set us apart. As our businesses have diversified and expanded globally,  Johnson & Johnson remains true to the foundation of our  company: caring for the health and well-being of mothers and  children. We have a heritage unlike any other company. Because  we are especially privileged to touch mothers at the most intimate  moments with their newborn child, we have a bond forged on  deep emotional trust—one that builds a special connection with  people. It also magnifies our commitment to help ensure that  mothers and children, wherever they may live, enjoy good health care. Consistent with our legacy, Johnson & Johnson responded  2  Free cash flow is defined as operating cash flow less capital spending. See Reconciliation of Non-GAAP Financial Measures, page  76 . 1  Excludes special items. 5 CHAIRMAN’S LETTER March  16, 2011 William C. Weldon Chairman, Board of Directors, and Chief Executive Officer Most important, we will never lose sight of who we are. Our Credo, our operating model and our people are enduring  sources of success. We are deeply committed to the people who  use our products, to our employees, to the communities in which  we live and work, and to you, our loyal shareholders. OURCOMMITMENT TO WOMEN AND CHILDREN OURENDURING STRENGTH OURCOMMITMENT TO YOU In addition to this commitment, we  support nearly  650  other philanthropic  programs in more than  50  countries. While  working on saving and improving the lives  of women and children, we also focus on  building the skills of people who serve  community health needs, as well as  Unwav ering commitment t o the  principles embodied in Our Cr edo and an  appreciation f or the  elements of our  operating model are as str ong today as at an time in  our history.