Earnings Winners & Losers: Billion-Dollar-Revenue Players JNJ, ABT, GE, PHG, BAX
The first earnings season of 2018 is now in full swing, with most of medtech's giants having reported Q4 and full-year results for 2017. Most succeeded in hitting their targets for the quarter, even beating expectations, but dig deeper and the cracks in some business segments start showing themselves.
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Platinum Equity plans to acquire J&J's LifeScan business, which makes OneTouch blood glucose monitoring products, by the end of the year. J&J has been exploring strategic options for its diabetes businesses for more than a year, as revenues from the sector have declined. In October, the company announced plans to stop making the Animas Vibe and OneTouch Ping insulin pumps, and transfer patients relying on those products to Medtronic.
Minimally invasive glaucoma surgery specialist Glaukos saw its stock leap 40% in the wake of a worldwide recall by much bigger rival Alcon of its CyPass microstent.
Roland Diggelmann will end his decade-long career at Roche Diagnostics at the end of September. The business's head of EMEA Michael Heuer will take Diggelmann's place while the search is on for his replacement.