UPDATED: JPM 2023: Baxter, Medtronic Pursue Simplification As Path To Growth
Executive Summary
The annual J.P. Morgan Healthcare Conference includes presentations from major medtech companies; Some use the conference as a platform for major announcements while some just take the opportunity to explain their 2023 outlook to investors. Here are some of the highlights from the presentations first day of the meeting.
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Medtech 100: Big Three Companies Lead From The Front With Medtech Back On Solid Growth Footing
Abbott Laboratories and Johnson & Johnson joined Medtronic in putting a clear distance between themselves and other global medtechs in the Top 10 by revenues for 2021. Post-COVID-19 procedure growth, and, for Abbott, a strong rebound in non-COVID diagnostic demand, were key drivers.
Dexcom Touts G7 As ‘The Most Accurate CGM’ As It Prepares For US Launch
The US FDA has granted authorization to Dexcom to market its G7 continuous glucose monitor, which the company will launch in the next couple of months.
Speculation On Baxter Division Picks Up Steam
The company reported in October that it was reviewing its portfolio and would offer more details on its future plans in January. Wells Fargo analysts expect Baxter to split its fast-growing connected care business from its lower-margin hospital-based therapeutics products.