2. J&J – Orthopedics
2018 revenue: $8.9 billion
Johnson & Johnson’s orthopedic device sales were down 1.9% to $8.9 billion in 2018, according to the company’s annual report. The shrinking business was partly due to J&J selling its Codman Neurosurgery business — maker of spinal cord and cranial repair products — for more than $1 billion to Integra LifeSciences in 2017. J&J (NYSE:JNJ) also saw a decline in sales of products for knee procedures, due to competitive pressures in the U.S.
At the same time, New Brunswick, N.J.–based Johnson & Johnson has been introducing new products related to the hips and spine. New spine products include the Concorde Lift expandable cage and the Viper Prime system for minimally invasive surgery.
During a January earnings call, investor relations VP Chris DelOrefice also touted continued strong demand in the hip products sector for the primary stem Actis. Surgeons can implant the Actis total hip system through tissue-sparing approaches, such as the anterior approach, as well as traditional approaches, according to J&J and its DePuy Synthes Cos.
Johnson & Johnson is also developing robot-assisted orthopedic surgery platforms after acquiring French robot-assisted surgery company Orthotaxy in 2018. The Orthotaxy robot will be smaller and more affordable than surgical robots currently out there, Liam Rowley, VP of R&D for knees at DePuy, recently told Medical Design & Outsourcing.
You may also like: