JOHNSON & JOHNSON — Director's Dealing 2008

Jan 10, 2008

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2008-01-02

Reporting Person: McCoy Sherilyn S (Member, Executive Committee)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	39021	Direct
Common Stock	6247	Indirect
Common Stock	17292	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$40.16	2008-12-02	Common Stock (1700)		Direct
Stock Option (Right to Buy)	$40.16	2008-12-02	Common Stock (7100)		Direct
Stock Option (Right to Buy)	$50.08	2009-12-01	Common Stock (1900)		Direct
Stock Option (Right to Buy)	$50.08	2009-12-01	Common Stock (7800)		Direct
Stock Option (Right to Buy)	$50.69	2010-11-29	Common Stock (1900)		Direct
Stock Option (Right to Buy)	$50.69	2010-11-29	Common Stock (13100)		Direct
Stock Option (Right to Buy)	$57.30	2012-02-10	Common Stock (1700)		Direct
Stock Option (Right to Buy)	$57.30	2012-02-10	Common Stock (19300)		Direct
Stock Option (Right to Buy)	$52.20	2013-02-08	Common Stock (18085)		Direct
Stock Option (Right to Buy)	$52.20	2013-02-08	Common Stock (1915)		Direct
Stock Option (Right to Buy)	$53.93	2014-02-07	Common Stock (1850)		Direct
Stock Option (Right to Buy)	$53.93	2014-02-07	Common Stock (23150)		Direct
Stock Option (Right to Buy)	$66.18	2015-02-13	Common Stock (1510)		Direct
Stock Option (Right to Buy)	$66.18	2015-02-13	Common Stock (26490)		Direct
Stock Option (Right to Buy)	$58.34	2016-02-12	Common Stock (34282)		Direct
Stock Option (Right to Buy)	$65.62	2017-02-10	Common Stock (44499)		Direct

Footnotes

F1: Shares held under Johnson & Johnson's 401(k) and ESOP Savings Plans as of Plans' most recent reporting date (12/31/2007).

F2: The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

F3: Awarded under Issuer's Stock Option Plan.

F4: Awarded under Issuer's Long-Term Incentive Plan.