
Bloomberg Talks
Johnson & Johnson CFO Talks Capital Commitments and Acquisitions
Jan 23, 2024
Joseph Wolk, Johnson & Johnson Exec VP/CFO, discusses the company's yearly growth, pipeline of products, cybersecurity for small businesses, the role of AI in MedTech, and Instagram's collaboration with Congress for parental approval on app downloads.
06:18
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Johnson & Johnson had a successful year in 2023, with strong growth in both the pharmaceutical and MedTech segments.
- Johnson & Johnson is confident in its ability to replace the lost revenue from Stelara with other products in its pipeline and has identified ten assets that have the potential to generate more than $5 billion in peak year sales.
Deep dives
Strong performance in 2023 and solid foundation for 2024
Johnson & Johnson had a successful year in 2023, with strong growth in both the pharmaceutical and MedTech segments. The fourth quarter showed 9% growth in each sector, signaling a prolific year and a solid foundation for future success. The company fortified its pipeline by deploying capital for acquisitions and licensing deals, bolstering its position in areas like oncology, immunology, and neuroscience. Although the loss of exclusivity on J&J's largest product, Stelara, may affect sales in the second half of 2024, the company remains confident in its ability to not only handle this loss but also to grow through it.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.