Johnson & Johnson (JNJ) CEO Gorsky Says Company Will Grow While Rivals Shrink
4/26/2012 6:43:44 AM
When Alex Gorsky takes over as Johnson & Johnson (JNJ)’s chief executive officer today, he won’t be shedding operations like his peers at Pfizer Inc. (PFE) and Abbott Laboratories. (ABT) He’s looking to get bigger.
Gorsky sees value in being a large, diversified company and said he has no plans to sell any of J&J’s businesses. He expects to use some of company’s $14 billion in cash to do deals, focusing on medical devices such as heart valves and acquisitions that will expand sales in China and other emerging markets, he said.