PYMNTS.com July 17, 2024
Johnson & Johnson’s (J&J) MedTech arm displayed resilience in its second quarter, navigating inflationary headwinds while prioritizing innovation. The unit, a key driver for J&J, remains committed to full-year growth targets despite temporary setbacks in its vision care business.
Challenges arose from distributor adjustments in the contact lens market, leading to destocking. J&J officials expressed confidence in a swift recovery fueled by its innovation pipeline. This focus on innovative solutions propelled a resurgence in the orthopedics business.
While acknowledging inflation’s impact, the company remains committed to achieving solid growth for the full year. A strategic move further bolstered MedTech’s position: The acquisition of Shockwave Medical. This deal strengthens J&J’s presence in the high-growth cardiovascular intervention market. Shockwave’s minimally invasive IVL...
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