Johnson & Johnson has been working behind the scenes to turn around its massive $25 billion-a-year medical device business.
The efforts appear to be paying off.
After it held its annual analyst day Wednesday, many analysts now believe that the company’s device business will grow greater than the overall medtech market growth of 4–6%.
Before delving into how it will achieve the above-market growth, it’s worthwhile to understand the device business segments and how they performed last year.
The Hospital Medical Devices business has a pipeline of products that are set to be filed by 2018. The pipeline cumulatively has the potential to generate more than $6 billion in sales, according to a presentation by Gary Pruden, who leads the hospital medical device business at Johnson & Johnson.