J&J’s Investment In Medical Device Businesses Is Starting To Pay Off
Johnson & Johnson's medical device businesses grew 5.3% on an organic basis in the third quarter, led by the Biosense Webster electrophysiology business. The company is increasing R&D investment, especially in robotic surgery, to boost its surgery and orthopedics businesses.
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The company expects the COVID-19 pandemic will cost its device businesses between $4bn and $7bn in revenue in 2020, as most non-urgent procedures are postponed.
The company’s leadership discussed its recent investments in robotic surgery technology during Johnson & Johnson’s 2019 fourth-quarter earnings call on 22 January. The company will provide more information on its robotic surgery platforms at its investors meeting in May in New York.
A new co-marketing agreement with Chinese orthopedics group Tinavi could be key in turning round Johnson & Johnson’s spine business, according to executives. The collaboration will allow J&J’s DePuy Synthes business, to sell the TiRobot for spine and trauma surgery in the Chinese market.