Second quarter sales for Johnson & Johnson's ($JNJ) medical devices and diagnostics division mirrored those reported in the first quarter, coming in relatively flat at $7.2 billion as sales in its vision and diabetes lines continued to decline due to price competition.
While Johnson & Johnson touts another strong quarter of device and diagnostics sales, subtracting the effects of its blockbuster deal for Synthes, the company charted almost no med tech improvement over the past year.
Johnson & Johnson says that by year's end it can start ticking off the punch list with the FDA at its Fort Washington, PA, manufacturing site, setting the stage for shedding a federal consent decree.
Another Big Pharma CEO is having a pep talk with employees about manufacturing lapses and the need to reflect on quality.
In its first-quarter earnings confab, J&J made good on CEO Alex Gorsky's pledge to get the company's troubled OTC manufacturing plants in shape and return the consumer health business to a growing top line.
On FierceMedicalDevices ' list of 2012's 10 highest-paid med tech CEOs, half are serving in their first full year on the job or are new in the position as of this year. Read the full report >>
A big development in the diagnostics industry emerged in Johnson & Johnson's heavy stream of earnings news today. The healthcare giant ($JNJ) is mulling options for its Ortho Clinical Diagnostics business, as CEO Alex Gorsky moves to emphasize the company's best prospects for growth.
A consent decree and a $100 million investment to upgrade its key OTC plant have not led Johnson & Johnson to give up on its Fort Washington, PA, operations, CEO Alex Gorsky told investors today.
Johnson & Johnson's $21.3 billion Synthes acquisition is starting to pay off, as the company reported a 12.5% third-quarter increase in medical device sales due largely to its fresh-bought orthopedics offerings.
Alex Gorsky, in his first earnings call since taking the CEO spot at Johnson & Johnson, listed a lot of priorities--there is a lot to be fixed at the pharmaceutical and consumer products company--but getting over-the-counter products like Tylenol and Motrin back into the hands of consumers remains his number one "short term priority."