Johnson & Johnson MedTech Chairman Tim Schmid said the company remains confident it is delivering growth at the high end of its previously stated 5% to 7% operational market-growth range for 2022 through 2027, citing a portfolio shift toward cardiovascular products and continued investment in differentiated technologies. Speaking at a Wells Fargo fireside chat, Schmid said the planned separation of the orthopedics business is expected around mid-2027, with greater clarity on the method before year-end. Cardiovascular, which Schmid called the largest and fastest-growing MedTech market, is expected to become Johnson & Johnson's largest and fastest-growing MedTech business by the first quarter of next year, driven by the Abiomed and Shockwave acquisitions and its electrophysiology operations. Schmid acknowledged competitive pressure in EP, especially outside the U.S., and said China's volume-based procurement could affect the EP market later this year and into 2027. He also noted that feedback on the FDA-approved OTTAVA surgical robot has been resoundingly positive, with pilot sites being selected and details expected at the Dec. 8 Investor Day, and that the company remains confident it can meet the guidance it raised in July.
Johnson & JohnsonJ&J MedTech confident of high-end 5-7% growth, with cardiovascular (Abiomed, Shockwave, EP) becoming its largest and fastest-growing MedTech business.
Wells Fargo & Company