UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): May 9, 2006 JOHNSON & JOHNSON (Exact name of registrant as specified in its charter) New Jersey 1-3215 22-1024240 (State or Other Juris- (Commission (IRS Employer diction of Incorporation) File Number) Identification No.) One Johnson & Johnson Plaza, New Brunswick, New Jersey 08933 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: 732-524-0400 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 8.01. Other Events. On May 9, ETHICON, Inc., a wholly owned subsidiary of Johnson & Johnson, announced the completion of the acquisition of Vascular Control Systems, Inc., a privately held company focused on developing medical devices to treat fibroids and to control bleeding in obstetric and gynecologic applications. Terms of the transaction were not disclosed. Johnson & Johnson will incur a one-time, after- tax charge of approximately $90 million or $.03 per share, reflecting the write-off of in-process research and development charges. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. JOHNSON & JOHNSON (Registrant) Date: May 17, 2006 By: /s/ Stephen J. Cosgrove Stephen J. Cosgrove Chief Accounting Officer