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Johnson & Johnson MedTech
2022 Rank: 22021 Rank: 2
Headquarters
New Brunswick, New Jersey
United States
www.jnjmedtech.com
2022 Revenues ($USD) : $27,100,000,000
2022 R&D spend : $2,377,000,000
2022 Number of Employees : 75,000
Fiscal Year End : 1/3/2022
Company CEO : Joaquin Duato, CEO; Ashley McEvoy, EVP, medical devices
But during J&J’s second-quarter earnings call in July, CEO Joaquin Duato played down the M&A speculation. He emphasized that J&J MedTech has its sights set on strengthening current strongholds.
Meanwhile, J&J’s DePuy Synthes ortho business is betting that it can compete in the ortho surgical robotics space with its Velys system, which could help reduce the physical burden of orthopedic surgery. And Ethicon is seeking to up the game in the surgical devices space with new tools such as its Echelon 3000 surgical stapler. Ethicon also secured an FDA 510(k) clearance in May for its Monarch robotic surgery system, enabling its use in both bronchoscopy and urology. The company, however, has been quiet about its next-gen Ottava robot. A lawsuit remains active in Delaware involving former shareholders of Auris Health, who alleged that J&J executives misrepresented their intentions for the robotic surgery company when they acquired it for $3.4 billion in 2019. J&J says the lawsuit is without merit.
In other news, Johnson & Johnson Vision announced a significant win in March with FDA approval of its Acuvue Theravision with the antihistamine Ketotifen. It’s the first drug-eluting contact lens authorized for marketing in the U.S. –CN and SW