Abbott’s current COO Robert Ford will become the company’s new CEO on 31 March, 2020. Miles White is stepping down after 21 years leading the diversified health-care products company.

Most of the large, diversified medtech companies have now reported their sales and earnings for the second quarter and first half of 2017. All of the companies in this category reported revenue growth and promised investment in new technologies across all their businesses, but a Baxter and Cardinal Health stand out as having especially successful quarters. Abbott is still trying to overcome major challenges, and J&J is turning around its medical device businesses under new leadership.

"Some much weaker markets and some macroeconomic conditions, particularly in China and India" prompt J&J to adjust its overall and consumer business expectations, CFO Dominic Caruso says. The firm's consumer product revenues climbed 1.7% to $3.5bn in is latest quarter.