No. 2: Johnson & Johnson (medical device segment)
New Brunswick, N.J.
2017 revenues: $26,592,000,000
2017 R&D spend: $1,610,000,000
Fiscal year ending: December 31, 2017
Alex Gorsky, chairman & CEO; Joaquin Duato, vice chairman of executive committee; Peter Fasolo, EVP, chief human resources officer; Ashley McEvoy, EVP, worldwide chairman, medical devices; Sandra Peterson, worldwide chair; Michael Sneed, EVP, global corporate affairs & chief communication officer; Dr. Paul Stoffels, vice chair of executive committee & chief scientific officer; Jorge Mesquita, EVP, worldwide chairman, consumer; Jennifer Taubert, EVP, worldwide chairman, pharmaceuticals; Michael Ullmann, EVP, general counsel; Kathy Wengel, EVP & chief global supply chain officer; Joseph Wolk, EVP & CFO
Johnson & Johnson continued the transformation of its medtech business last year, after a flurry of M&A deals in 2016 culminated with the $4.3 billion acquisition of Abbott Medical Optics early in 2017. That bet on the vision care market (including the buyouts of picked up TearScience and Sightbox) roughly coincided with a wager on the diabetes market the other way, when J&J announced that it would seek to sell off its LifeScan, Animas and Calibra Medical brands. The company later decided just to shutter the Animas insulin pump business, dealing the LifeScan blood glucose monitoring unit to Platinum Equity for more than $2 billion and selling Calibra to CeQur in July 2018 for an undisclosed amount. J&J further pared the medtech business with a $1.05 billion deal for its Codman Neurosurgery business to Integra LifeSciences. Also last year, longtime finance chief Dominic Caruso retired and was replaced by Joseph Wolk.