Johnson & Johnson’s anemic medical device business in the most recent quarter and the strong U.S. dollar have dimmed the company’s outlook for the year. The company’s medical device division had quarterly sales of $6.3 billion—an 11.4% drop compared with a year prior. Part of the drop was a short-term result of selling off of less-profitable medtech assets while the rest came from pricing pressures and an uptick in competition.
The company had better news to report when it came to utilization of its technology, owing to an increase in surgical procedures, hospital admissions, and physician office visits, Barrons explained. Its atrial fibrillation and diabetes units also fared well, posting 12% and 10% growth, respectively.
Help employers find you! Check out all the jobs and post your resume.
