Johnson and Johnson outline medical tech growth plan

During its annual business review Johnson and Johnson have outlined plans to continue global expansion and market domination within the medical devices and diagnostics segment of the company.

Johnson and Johnson’s medical technology division is the largest in the world and accounted for a staggering 41 percent of its total 2012 group sales. The division benefitted from research and development investments of $3.5 billion in the last two years alone.

Following the notable $20 billion takeover of Synthes last year, the global firm will be evaluating strategic options for its Ortho Clinical Diagnostics business in the coming months and will continue to roll out new products to address unmet medical needs, while also taking steps to accelerate growth in Asia-Pacific and other emerging markets.

Alex Gorsky, Chairman and Chief Executive Officer of Johnson and Johnson, said, “We're building on our market leadership positions - having sustained or grown share in the majority of our key platforms - and hold number one or number two positions in over 80 percent of them today.”

This week, the firm also announced its financial results for 2012, during which it generated full-year sales of $67.2 billion - up by 3.4 percent on 2011.