Big changes are afoot in the medical device industry, and Johnson & Johnson (NYSE:JNJ) is in the driver’s seat. When the largest among medical device companies makes a move, the industry tends to stop and pay attention.
J&J has witnessed its operational performance completely flip-flop over the past decade. In the 1990s and 2000s, medical device growth was strong whereas pharmaceutical growth was hit-and-miss. Nowadays, we’re observing the opposite, with J&J bringing seven blockbuster drugs and 14 novel medicines in total to pharmacy shelves since 2009, and medical device growth traipsing along at a meager 1% as of the most recent quarter.