JOHNSON & JOHNSON — Director's Dealing 2007

Feb 15, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2007-02-12

Reporting Person: Scodari Joseph C (Executive Committee Member)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-01-31	Common	J	42	—	Acquired	2543	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-12	Employee Stock Option (Right to Buy)	$65.62	A	109723	Acquired	2017-02-10	Common Stock (109723)	Direct
2007-02-12	Restricted Share Units	$	A	9144	Acquired		Common Stock (9144)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common	6928	Direct

Footnotes

F1: Shares held under Johnson & Johnson's 401(k) and ESOP Savings Plans at Plans' most recent reporting date (01/31/2007).

F2: Awarded under Issuer's Long-Term Incentive Plan.

F3: Each Restricted Share Unit represents a contingent right to receive one share of Company Common Stock.

F4: The Restricted Share Units vest three years after date of grant.