J&J Bullish On Procedure Recovery As Q2 Device Sales Beat Analyst Expectations
Johnson & Johnson management said they expect medical device sales to make a quick recovery in the third and fourth quarter of 2020 after seeing a faster-than-expected reuptake of procedures during the second quarter.
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Johnson & Johnson’s worldwide medical device revenues grew about 50% sequentially in the third quarter to $6.2bn.
Hospitals’ budgets for capital equipment have been strained during the pandemic, but they will continue to invest in digital surgery and robotics because the technologies offer value to patients, according to executives at The Virtual MedTech Conference.
Intuitive reported better-than-expected second-quarter revenues and announced plans to roll out a new extended use program for certain surgical instruments, but remains cautious for the second half amid the COVID-19 pandemic.