J&J CEO Gorsky Handing Over Reins To Vice Chairman Duato
Gorsky Will Transition To Executive Chairman
Joaquin Duato has been involved for the last several years in growing J&J’s pharma and consumer businesses and has led the company’s COVID-19 efforts. Alex Gorsky is stepping down due to a family health issue.
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The annual J.P. Morgan Healthcare Conference saw major medtech companies describe their experiences in 2021 and expectations for 2022 as they continue to cope with COVID-19.
J&J To Split Consumer From Medtech and Pharmaceutical Businesses – Creating Two Companies To Unlock More Value, Growth, Innovation
Johnson & Johnson expects that the new J&J unit will be better positioned to share expertise such as combing medical devices with drugs and continue to innovate.
Johnson & Johnson’s medical device sales were up nearly 60% year-over-year in the second quarter of 2021 while Abbott reported 51% growth in its device business, reflecting the recovery in procedure volumes since the worst days of the pandemic in mid-2020.