2. Johnson & Johnson (medical device segment)
$25,963,000,000*
New Brunswick, N.J.
2019 rank: 2
R&D spend: $2,028,000,000
*Fiscal year ended 12/29/2019
Johnson & Johnson’s medical device segment saw a sales decline this year as the COVID-19 pandemic caused health providers to defer medical procedures in order to focus on managing the coronavirus. It’s a situation that many medtech companies have had to face. Procedure recovery was actually better-than-expected during Q3, according to J&J. The company has been taking its time in the general surgery robotics space as it seeks to combine technologies that came out of its previous Verb Surgical collaboration with the Alphabet life sciences unit Verily — as well as its $3.4 billion purchase of Auris Health and its FDA-cleared Monarch platform. Meanwhile, J&J is also playing an important role in helping the U.S. and countries around the world better manage the coronavirus: Johnson & Johnson is among the companies that have COVID-19 vaccine candidates getting evaluated in Phase 3 clinical trials. – CN
Key personnel: Alex Gorsky, board chair and CEO; Joaquin Duato, vice chair, executive committee; Peter Fasolo, EVP & chief human resources officer; Ashley McEvoy, EVP, worldwide chairperson, medical devices; Thibaut Mongon, EVP, chair, consumer health; Michael Sneed, EVP, global corporate affairs, chief communications officer; Paul Stoffels, vice chair, executive committee & chief scientific officer; Michael Ullmann, EVP, general counsel; Kathy Wengel, EVP & chief global supply chain officer; Joseph Wolk, EVP & CFO
