Get Our Free Research Email
November 5-8 - American Academy of Implant Dentistry
November 7-9 - American Association of Hip and Knee SurgeonsComplete Calendar »
Complete Calendar »
Johnson & Johnson Plans to Launch 30 New Medical Devices by 2016 BY ANDREW VAHRADIAN, MAY 30, 2014
In the 2013 fiscal year, Johnson & Johnson's Pharmaceutical business grew 12% on a constant currency basis, outstripping the company's Medical Device & Diagnostic (MD&D) segment, which grew at 6%. Therefore, in order to bolster growth to its MD&D unit, the company plans to file for more than 30 major product approvals within the unit by the end of 2016.
In regards to its Orthopedics division, which operates under the MD&D segment, JNJ plans to launch new products including, shoulder repair and hip replacement systems designed to preserve bone, electrosurgery, hydrocephalus, intramedullary nail and spine systems, a non-avian single injection therapy, and high speed power tools. Management also intends to centralize certain operations within its nine orthopedic businesses (Hips, Knees, Shoulders, Trauma, Spine, Sports Medicine, CMF, Power Tools, Neuro) to help sales representatives unlock cross-selling initiatives by combining multiple product offerings in a single customer visit.
Furthermore, management aims to leverage its already established global footprint to strengthen its emerging market operations, particularly in China and Russia, to further accelerate the expansion of the overall company.
Michel Orsinger, the Worldwide Chairman of Global Orthopedics, stated that 40% of projected future growth from JNJ's Orthopedic division, will come from emerging marketplaces.