Prospectus Supplement Filed Pursuant to Rule 424(b)(3)
(To Prospectus dated December 29, 1999) Registration No. 333-91349
Johnson & Johnson
792,660 Shares
Common Stock
$61,107,000
Guarantees
This prospectus supplement contains information about the persons
who can use this prospectus supplement to offer and sell shares of Johnson
& Johnson's common stock those persons own and, together with Centocor's 4 3/4%
Convertible Subordinated Debentures due 2005 those persons own,
Johnson & Johnson's guarantees those persons own of those debentures.
SELLING SECURITYHOLDERS
The information set forth in the table under the caption "Selling
Securityholders" in the Johnson & Johnson prospectus dated December 29, 1999,
relating to Johnson & Johnson common stock and Johnson & Johnson guarantees, is
amended and restated in its entirety as follows:
<TABLE>
<CAPTION>
Common Stock Guarantees
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Number of Principal Principal
Shares Shares Amount Percentage of Amount
Name of Selling Beneficially Registered for Beneficially Outstanding Registered for
Securityholder (1) Owned (2) Sale Hereby(3) Owned($) Guarantees Sale Hereby($)
------------------ ----------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Alexandra Global Investment Fund I Ltd. 25,943 25,943 2,000,000 * 2,000,000
American Investors Life 1,945 1,945 150,000 * 150,000
Arkansas PERS 16,279 16,279 1,255,000 * 1,255,000
Atlantic Trust Company 1,284,769 1,945 150,000 * 150,000
BNP Arbitrage SNC 326,344 6,485 1,000,000 * 500,000
The Class IC Company, Ltd. 25,942 12,971 2,000,000 * 1,000,000
Delaware PERS 13,231 13,231 1,020,000 * 1,020,000
Deutsche Bank Securities Inc. 26,540 26,540 2,046,000 * 2,046,000
General Motors Corp. 46,698 46,698 3,600,000 * 3,600,000
Goldman Sachs and Company 63,885 63,885 4,925,000 1.1% 4,925,000
Hull Overseas, Ltd. 6,485 6,485 500,000 * 500,000
ICI American Holdings 5,512 5,512 425,000 * 425,000
McMahan Securities Company, L.P. 324 324 25,000 * 25,000
Merrill Lynch Pierce, Fenner, Smith Inc. 32,234 32,234 2,485,000 * 2,485,000
Morgan Stanley Dean Witter 648 648 50,000 * 50,000
Motors Insurance 3,242 3,242 250,000 * 250,000
Nalco Chemical Company 3,048 3,048 235,000 * 235,000
PRIM Board 25,619 25,619 1,975,000 * 1,975,000
Regence Oregon 363 363 28,000 * 28,000
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Common Stock Guarantees
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Number of Principal Principal
Shares Shares Amount Percentage of Amount
Name of Selling Beneficially Registered for Beneficially Outstanding Registered for
Securityholder (1) Owned (2) Sale Hereby(3) Owned($) Guarantees Sale Hereby($)
------------------ ----------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Regence Utah 90 90 7,000 * 7,000
Regence Washington 596 596 46,000 * 46,000
SB Balanced 3,242 3,242 250,000 * 250,000
Starvest Combined Portfolio 3,891 3,891 300,000 * 300,000
State of Oregon Equity 68,620 68,620 5,290,000 1.2% 5,290,000
State of Oregon/SAIF Corporation 51,886 51,886 4,000,000 * 4,000,000
The TCW Group, Inc. 26,397 26,397 2,035,000 * 2,035,000
TransAmerica Life Insurance & Annuity 252,947 155,660 19,500,000 4.2% 12,000,000
Company
Zeneca Holdings 5,512 5,512 425,000 * 425,000
</TABLE>
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(1) The information set forth herein is as of March 24, 2000.
(2) Assumes conversion of the full amount of the unrestricted and
restricted Centocor debentures held by such holder at the conversion
price in effect as of March 24, 2000 of $77.091 per share of
Johnson & Johnson common stock. Fractional shares will not be issued
upon conversion of the Centocor debentures; cash will be paid in lieu
of any fractional shares.
(3) Assumes conversion of the full amount of the restricted Centocor
debentures held by such holder at the conversion price in effect as of
March 24, 2000 of $77.091 per share of Johnson & Johnson common
stock. Fractional shares will not be issued upon conversion of the
Centocor debentures; cash will be paid in lieu of any fractional
shares. This prospectus also covers any additional shares of Johnson &
Johnson common stock which become issuable in connection with the
shares registered for sale hereby by reason of any stock dividend,
stock split, recapitalization or other similar transaction effected
without the receipt of consideration which results in an increase in
the number of outstanding shares of Johnson & Johnson common stock.
* Represents beneficial ownership of less than 1% of the aggregate
principal amount of Johnson & Johnson guarantees outstanding as of
March 24, 2000.
The date of this prospectus is March 24, 2000.
