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Jan. 22, 2013 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) will present its Medical Devices & Diagnostics (MD&D) business strategy for accelerating growth during its annual Business Review today. The presentations will focus on its market leading products, plans for global expansion and meaningful innovations in MD&D that position the company well for long-term growth in a dynamic market. Johnson & Johnson last highlighted its MD&D business in 2010.
"Our MD&D business is the largest medical technology business in the world with sales of
$27.4 billion, which grew 8.7% operationally with the inclusion of Synthes,"
Alex Gorsky, Chairman and Chief Executive Officer, said. "We're building on our market leadership positions, having sustained or grown share in the majority of our key platforms, and hold number one or number two positions in over 80% of them today. We're also expanding our MD&D business in emerging markets, and with Synthes, generated strong double-digit growth there last year."
MD&D accounted for about 41% of Johnson & Johnson's total sales in 2012. Its businesses are global leaders with strong market positions across a broad range of areas, including orthopaedics, neurosurgery, general surgery, vision care, diabetes care, infection prevention, cardiovascular and aesthetics.
In the last two years, the company has invested approximately
$3.5 billion in research and development for its MD&D segment, advancing its pipelines and developing new technologies and solutions across its businesses. It has also made decisions to shape its portfolio, including completing the approximately
$20 billion acquisition of Synthes, Inc.--the largest acquisition in Johnson & Johnson history, while also continuing to take a disciplined approach to adapting its businesses to reflect the evolving needs of the marketplace."
The company announced today that it is initiating an exploratory process to evaluate strategic options for its Ortho Clinical Diagnostics (OCD) business. All options will be evaluated to determine the best opportunity to drive future growth and maximize shareholder value. Options include a possible divestiture if it is determined that OCD could have greater potential as part of another organization whose focus is more closely aligned with its core strengths, or by operating as a stand-alone company. At this time it is not certain that any transaction will be consummated.