Johnson & Johnson Gains On FDA Approval Of Disk

Johnson & Johnson (JNJ) gained almost 1% yesterday to close at $57.77, mostly on news that the FDA approved its Charite artificial spinal disk. Not all analysts think it is a big deal. According to Prudential Equity Group, the device could bring in up to $200 million in revenue in fiscal 2005, not a major factor for a company the size of J&J. But others are far more bullish and project billion-dollar markets for spinal replacement disks. Surgeons are especially enthusiastic about this device.