Johnson & Johnson has been wading through vaginal mesh litigation, sometimes to no avail. Now the company is facing pushback from Washington and California law officials who sued J&J over its allegedly faulty implants.
Med tech is attracting a huge range of strategic investors right now. Healthcare is almost universally recognized as in need of rationalization--the application of technology in the effort to achieve better outcomes at lower costs. Medical devices and diagnostics, and the data that they generate, are expected to be central to achieving that goal in the coming decades.
Johnson & Johnson has pledged annual growth for its medical device business of about 4% to 6% through 2020. To drive that, it's looking to further enhance its fastest growing market segments while getting to market in surgical robotics and entering structural heart devices, the company told investors on May 18.
Hardware tech accelerator Highway1 is debuting its sixth class of startups, which includes Blumio, with its cuffless continuous blood pressure monitor, and Sensassure, with its incontinence patch that alerts caregivers when seniors need pads changed.
Medical device makers, not hospitals, will get squeezed in the coming years as the Centers for Medicare and Medicaid (CMS) implements its value-based pricing scheme for hip and knee implant procedures. This is the first mandatory bundled payment initiative from the U.S. agency, although it previously has piloted bundled payment programs and value-based reimbursement such as penalties for hospitals with above-average patient readmissions.
Ortho Clinical Diagnostics CEO Martin Madaus told FierceMedicalDevices in an interview that Ortho has been actively investing in building out as a standalone company, which has dragged on earnings in the near term. But he added that Ortho has returned to revenue growth--and is aiming to get to about a 4% run rate.
Johnson & Johnson's medical device sales continued to slide in the first quarter, although the conglomerate, which announced a major medical device business restructuring early this year, was quick to underscore that this effort was on track and going well.
Google parent company Alphabet has been slow to reveal financial details on its newer businesses. But now Google co-founder and Alphabet executive Sergey Brin is starting to offer some insights. He told company employees at a recent meeting that Verily, its med tech-focused business, is already profitable on a cash basis, tech pub Re/code reported.
It may not be anything like a meme or a juggernaut, but some definite momentum is building in pharma for continuous manufacturing. Janssen, Johnson & Johnson's generic drug unit, has won FDA approval for a continuous manufacturing line at a plant in Puerto Rico. That came just days after Eli Lilly said it would build a continuous manufacturing facility in Ireland.
The FDA has officially green-lighted the Remicade biosimilar Inflectra, a med from South Korea's Celltrion and Pfizer's Hospira. But will the knockoff be able to capture the same kind of market share from Johnson & Johnson that it's been stealing in Europe from Merck & Co.? Depends who you ask.