Fierce Biotech January 23, 2024
In the first year after it put down $16.6 billion to purchase the miniature heart pump maker Abiomed, Johnson & Johnson MedTech has seen the acquisition begin to pay off more than many thought possible.
Worldwide operational sales across J&J’s medical device divisions grew 12.4% in 2023, excluding changes in international currencies, to top $30.4 billion in total revenue. Abiomed alone contributed 4.7%, the company reported in its latest earnings release, while sales of electrophysiology hardware, contact lenses and surgical wound closure products also had strong showings.
Abiomed’s performance to date has overtaken the company’s internal models and beaten out Wall Street analyst estimates made ahead of the deal’s closure in late December 2022, J&J CFO Joseph Wolk said on...
Today's Sponsors
Today's Sponsor