INNOVATION
Johnson & Johnson held a Consumer and Medical Devices Business Review on May 16, highlighting the company’s recent achievements and plans for the future – specifically, how they plan to revive flagging business segments and set the stage for long-term, above-market growth in medical devices.
JNJ has already demonstrated its commitment to developing its pipeline, citing “reinvestment in innovation” and more than 30 transactions (acquisitions, investments and partnerships) in 2017. These deals were valued at more than $5 billion. This focus on new technology and the closing of “critical portfolio gaps” is expected to significantly impact the company’s product pipeline in the coming years, with 15-20 product launched planned for 2018 alone, 20-25 in 2019 and 40-50 starting in 2020.
At the core of JNJ’s growth strategy is addressing unmet needs, furthering their digital solutions product suite (the presentations focused heavily on the promise of the Verb surgical platform) and incorporating cost and value considerations into product development and marketing.
There was a particular focus on orthopedics during the presentation. JNJ occupies top market positions and has shown strong performance in trauma, hip and sports medicine; however, the company is looking for improvements in knees and spine. The presentation featured the Attune knee to provide an example of how JNJ is looking to differentiate its devices. The company has taken some novel approaches to demonstrate the benefits of the Attune knee: presenting clinical registry data, patient-reported outcomes data and cost data. JNJ plans to continue this method of collaborating with multiple stakeholders – physicians, patients, policymakers, etc. – to further drive the value of their products. On the technology side, the company described good progress with Orthotaxy, the French surgical robotics company that JNJ acquired earlier this year. Further, the company described a plan to incorporate digital technologies throughout the continuum of care: pre-operatively, intraoperatively and post-operatively.
To view the full presentation, visit JNJ’s investor relations page.
Posted: May 21, 2018
