New Johnson & Johnson CEO to Discuss $20 Billion Purchase in 2Q Report
Published: Jul 16, 2012
Johnson & Johnson, a Dow component, will focus on a huge acquisition, some experimental drugs awaiting approvals and its ongoing recall and manufacturing quality issues when it reports second-quarter results before the stock market opens Tuesday. WHAT TO WATCH FOR: Alex Gorsky, who moved up from head of J&J's medical device business to CEO in April, will address analysts on the quarterly conference call for the first time. He's sure to focus on J&J's June acquisition of Synthes, the Swiss surgical trauma equipment and orthopedic implants maker, for $19.7 billion — J&J's biggest acquisition ever. The deal is meant to lift J&J to a dominant global position in the growing orthopedic surgery market.