Johnson & Johnson (JNJ) Sees Fast-Growing Device Market; Plans 80 Regulatory Submissions For New Devices
6/4/2010 8:19:35 AM
NEW BRUNSWICK, N.J., June 3 /PRNewswire-FirstCall/ -- Johnson & Johnson (NYSE: JNJ) will be reviewing the growth strategies for its Medical Devices & Diagnostics (MD&D) segment at a meeting with the investment community today. Senior leaders will be highlighting the new products, robust pipelines, expanding geographic presence, and other strategies that will sustain the long-term growth of the company's largest business segment in a $350 billion, worldwide medical device and diagnostics market.
"Thanks to the hard work of thousands of talented associates, we are the largest and strongest medical device company in the world today, and poised to continue advancing patient care in the future," said Alex Gorsky, worldwide chairman of Johnson & Johnson's Medical Devices & Diagnostics segment.
The company's MD&D business segment, which generated $23.6 billion in sales in 2009 and became Johnson & Johnson's largest business segment, holds the No. 1 or 2 market positions in the majority of its markets. It includes seven global franchises:
* Cordis: a leader in the treatment of cardiovascular disease;
* DePuy: a leader in orthopaedics, spinal care, sports medicine and neurosurgical devices;
* Diabetes Care: a leader in products that allow people with diabetes to monitor and control their blood glucose levels;
* Ethicon: a leader in sutures, tissue repair and reinforcement products, women's health, aesthetics and conditions of the ear, nose and throat;
* Ethicon Endo-Surgery: a leader in surgical device solutions for minimally invasive and open surgery; and Advanced Sterilization Products, a leading developer of solutions for the reduction of healthcare-associated infections;
* Ortho Clinical Diagnostics: a leader in medical diagnostic products;
* Vision Care: a leader in the global contact lens market.
"Our MD&D businesses compete in a number of large, well-established and under-penetrated markets like joint replacement, contact lenses and sutures -- markets where we can grow through the introduction of more advanced products and continued geographic expansion," said Gorsky. "At the same time, we are expanding into other high-growth markets such as biosurgicals, energy, electrophysiology and other surgical specialties. We are using our own pipeline, as well as licensing agreements and select acquisitions, to bring us new capabilities."
Launching New Products
Today's presentations will highlight a number of products that have either launched this year or are continuing their global roll-outs in 2010.
Ethicon Endo-Surgery, for example, continues to introduce new energy instruments as part of its HARMONIC® family of technology that delivers precise ultrasonic energy to minimize thermal tissue damage to the patient, while providing surgical efficiency. Diabetes Care is rolling out a new blood glucose monitoring system, OneTouch® Verio ™ that provides the next generation of accuracy and precision, the number one need for diabetes patients.
Meanwhile, Vision Care continues rolling out its 1-DAY ACUVUE® TruEye™ Brand Contact Lenses, the world's first daily disposable silicone hydrogel lens on the market, which is currently available in Europe and Japan and is expected to launch in the U.S. later this year.
In addition, Ethicon continues to focus on patient comfort and surgeon ease-of-use as it builds its portfolio of hernia repair products with ETHICON PHYSIOMESHTM Flexible Composite Mesh and its first entry into the hernia mesh fixation market with ETHICON SECURESTRAP™ 5mm Strap Fixation Device. Ortho Clinical Diagnostics also continues to expand the adoption of its VITROS® 5600/3600 diagnostic systems launched last year, while increasing the number of tests available on them.
Johnson & Johnson's MD&D segment has received more than a dozen regulatory approvals so far in 2010, and it plans to make approximately 80 significant submissions across its seven franchises between 2010 and 2012.
Cordis' NEVO™ Sirolimus-eluting Coronary Stent, featuring unique reservoir-based technology to treat cardiovascular disease, filed for CE Mark approval earlier this year and presented positive one-year clinical trial data at EuroPCR last week. DePuy is awaiting FDA approval in the U.S. for the PINNACLE® CoMplete™ Acetabular Hip System. This first ceramic-on-metal hip bearing to be considered for approval by the FDA combines the durability and stability of metal with the enhanced wear characteristics of ceramic. And, Ethicon plans to make a BLA filing in the U.S. for its Fibrin Pad in the fourth quarter; this hemostasis product combines two biomaterials and two biologics to stop bleeding during surgical procedures. The Vision Care franchise has also completed clinical trials for a contacts lens that delivers anti-allergy medication on a lens, and is planned to be submitted to the FDA later this year.
Meanwhile, the MD&D segment continues to make strategic acquisitions to strengthen its core portfolios and expand into adjacent markets. Acclarent, Finsbury Orthopaedics and Gloster Europe are acquisitions that provide breakthrough surgical products to move into ear, nose and throat procedures; expand its orthopaedics portfolio; and increase its portfolio of infection prevention technologies.
Expanding Global Presence
As the MD&D segment expands in emerging markets, they continue globalizing their current portfolios; developing more localized, market-appropriate products; and leveraging their medical training institutes for educating medical personnel about the latest surgical techniques and treatments.
For example, the 1-DAY ACUVUE® DEFINE™ NATURAL SHINE™ contact lens builds on the recent success of other beauty-enhancing DEFINE lenses in Asia. And, SYNSYL™ is a synthetic absorbable suture created specifically for China to compete with locally manufactured silk sutures that don't offer the same level of performance.
Meanwhile, the MD&D segment continues to expand its global manufacturing and training footprint to support emerging market growth. DePuy continues to increase capacity at its state-of-the-art manufacturing facility in Suzhou, China, and MD&D's most recent medical training center opened in Sao Paulo, Brazil, earlier this year and expects to train 4,000 doctors and nurses in the region each year.
Brief summaries of the franchises, new products and pipelines being discussed in today's presentations are available in an MD&D Franchise Backgrounder.
Investors and other interested parties may access the meeting by visiting the Investor Relations section of the Johnson & Johnson website at www.investor.jnj.com for a simultaneous webcast of the presentation. Full copies of the presentations as well as a replay and podcast will be available approximately two hours after the live webcast concludes.
About Johnson & Johnson
Caring for the world, one person at a time...inspires and unites the people of Johnson & Johnson. We embrace research and science - bringing innovative ideas, products and services to advance the health and well-being of people. Our approximately 114,000 employees at more than 250 Johnson & Johnson companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.
(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Johnson & Johnson's expectations and projections. Risks and uncertainties include general industry conditions and competition; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 3, 2010. Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statements as a result of new information or future events or developments.)
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