Division of Johnson & Johnson
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Under tax reform legislation recently passed by Congress, a 20% tax on products made in domestic territories will adversely affect the many device firms with Puerto Rican plants that currently enjoy a lower, 4% tax rate on profits. And a second tax provision usually relied upon by medtech companies, the R&D tax credit, also loses ground under the final Senate bill passed Dec. 2.
Animas, a division of Johnson & Johnson, will stop making Animas Vibe and OneTouch Ping insulin pumps, close operations, and exit the insulin pump business, the company announced Oct. 5. J&J is offering patients currently using these devices the option to transfer to Medtronic device. Medtronic is already the leading supplier of insulin pumps worldwide.
The medtech industry has traditionally grown through innovation – new products with improved features and benefits have fueled revenue growth. However, innovation alone does not garner the price premium it once did, and manufacturers must decide whether to pursue a value brand strategy alongside their traditional premium brand, says global management consulting firm Simon-Kucher & Partners.
The global advanced wound-care market is expected to reach $10.4bn by 2020, driven by massive competition, and forcing companies to innovate constantly to address the rising prevalence of chronic wound injuries, diabetic foot ulcers and burns. While regulatory and reimbursement challenges prevail, opportunities in this highly segmented market, in particular, in the advanced wound-dressings sector, are vast, with double-digit revenue growth potential.
- Implantable Devices
Surgical Equipment & Devices
- Minimally or Less Invasive
- Therapeutic Areas
- Wound Healing & Tissue Repair
- North America
- Parent & Subsidiaries
Johnson & Johnson
- Acclarent Inc.
- Advanced Sterilization Products
- CardioVations Inc.
- Guangzhou Bioseal Biotechnology Co. Ltd.
- Gynecare Inc.
- Heartport Inc.
- Johnson & Johnson Medical Inc.
- Medtrex Inc.
- Mentor Corp.
- Omrix Biopharmaceuticals Inc.
- Torax Medical Inc.
- Vascular Control Systems Inc.
- Ethicon Inc.
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