May 22 Johnson & Johnson said on
Thursday it planned to file for approvals of more than 30 major
products by the end of 2016 as the diversified healthcare
company looks to restore luster and growth to a medical device
and diagnostics division that has been overshadowed by its drugs
business in recent years.
The company, prior to a review of the division for analysts
and investors, said its recently launched products and extensive
pipeline position it for continued growth.
J&J also said it would expand business with a significant
focus on fast-growing emerging markets, particularly China and
The company is hoping to jumpstart growth in the device and
diagnostics business that saw flat first-quarter sales of $7.06
billion. J&J's pharmaceuticals division by comparison grew
nearly 11 percent in the first quarter with new drugs for
cancer, hepatitis C and to prevent blood clots leading the way.
The medical device and diagnostic division posted 2013 sales
of $28.5 billion.
(Reporting by Bill Berkrot; Editing by Meredith Mazzilli)