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: Casey Donald M Jr. (Member, Executive Committee)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	36709	Direct
Common Stock	1415	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$42.10	2009-02-24	Common Stock (13800)		Direct
Stock Option (Right to Buy)	$35.74	2010-02-24	Common Stock (13800)		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 (34100)		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 (43300)		Direct
Stock Option (Right to Buy)	$52.20	2013-02-08	Common Stock (33085)		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 (38150)		Direct
Stock Option (Right to Buy)	$66.18	2015-02-03	Common Stock (1510)		Direct
Stock Option (Right to Buy)	$66.18	2015-02-13	Common Stock (48490)		Direct
Stock Option (Right to Buy)	$58.34	2016-02-12	Common Stock (30360)		Direct
Stock Option (Right to Buy)	$65.62	2017-02-10	Common Stock (17365)		Direct
Restricted Share Units	$		Common Stock (7590)		Direct
Restricted Share Units	$		Common Stock (13024)		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: Awarded under Issuer's Stock Option Plan.

F3: Awarded under Issuer's 2005 Long-Term Incentive Plan.

F4: Each Restricted Share Unit represents a contingent right to receive one share of Company Common Stock.

F5: Not applicable.