Johnson & Johnson Reports Q3 2024 Revenue of $22.5 Billion and Submits IDE Application for Ottava Surgical Robot

Oct 16, 2024 17:55 CST Updated 17:55

Johnson & Johnson

Medical Device R&D and Manufacturer

October 15, 2024, Johnson & Johnson Medical releasedThird Quarter Earnings Report Data, Global Revenue$22.5 billion(Approximately 160.1 billion RMB), an increase of 5.2% year-on-year.

The company also updated the latest progress of its Ottava surgical robot, stating that it has applied to the FDA for an Investigational Device Exemption (IDE).

On October 15, Johnson & Johnson's stock price fell 1.1% to $159.78 per share in pre-market trading. After the market opened, it rose 1% to$163.10。

# Performance in the Third Quarter

Johnson & JohnsonReported Global Sales for the Third Quarter$22.5 billion, an increase of 5.2% year-on-year; excluding the impact of mergers/acquisitions, divestitures, and exchange rates, year-on-yearIncreaseUp 5.4%。

Diluted Earnings Per Share$1.11, Adjusted Diluted Earnings Per Share$2.42, a decrease of 9.0% year-on-year (due to the impact of M&A-acquired IPR&D on the base by approximately 1900).

Innovative Pharmaceuticals:Global Johnson & Johnson Innovative Pharmaceuticals Sales$14.6 billion, an increase of 4.9% year-on-year, with operational growth year-on-year6.3%。

The growth drivers include DARZALEX (daratumumab), ERLEADA (apalutamide), and CARVYKTI (ciltacabtagene autoleucel) in other oncology fields, TREMFYA (guselkumab) in the immunology field, SPRAVATO (esketamine) in the neuroscience field, and OPSUMIT (macitentan) in the pulmonary arterial hypertension field. The growth in the immunology field was driven by STELARA (Ustekinumab) and SIMPONI/SIMPONI ARIA (Golimumab) partially offset each other.

Medical Technology:Global Johnson & Johnson Medical Technology Sales$7.9 billion, a year-on-year increase of 5.8%, operational growth year-on-year6.4%。

Sales growth was primarily driven by electrophysiology products in the cardiovascular field, Abiomed (formerly known as interventional solutions), contact lenses in the vision field, and wound closure products in the general surgery field. The growth was partially offset by endocutter products in the advanced surgery field.

# Recent Developments

On October 9, 2024, Johnson & Johnson announcedCompletion of the Acquisition of V-Wave, a Manufacturer of Atrial Shunt Devices。Through this acquisition, Johnson & Johnson further expanded its product portfolio in the cardiovascular treatment field.

According to the agreement, Johnson & Johnson will pay V-Wave a$600 million (approximately 4.28 billion yuan)The prepayment, in addition to the prepayment, Johnson & Johnson is also required to pay potential additional regulatory and commercial milestone payments, with a total amount of approximately$1.7 billion (approximately 12.125 billion yuan)。

V-Wave is a medical device company focused on heart failure treatment. Its main product, the Ventura atrial shunt, is an implantable device used to treat heart failure. This technology reduces left atrial pressure in patients with congestive heart failure by creating a shunt between the left and right atria of the heart, thereby decreasing cardiovascular events and hospitalization rates for heart failure.

V-Wave's inclusion will enable Johnson & Johnson to offer more diversified and effective treatments for heart failure, addressing the unmet needs of approximately 800,000 patients with heart failure with reduced ejection fraction (HFrEF) annually.

On September 10, 2024, Johnson & Johnson stated,Is integrating its numerous medical technology brands under one banner, in order to further simplify the company's brand presentation.

In the future, the group'sEthicon, DePuy Synthes, Biosense Webster, Abiomed, and CerenovusThe brand will beJohnson & Johnson MedTechunder the name of. Johnson & Johnson stated that this move would not bring any changes to its various product portfolios.

Johnson & Johnson aims to achieve this through the integration initiative,More prominently showcase its influence in the healthcare field, and strengthen its competitiveness in this way. At the same time, thisContributes toSimplify the company's overall brand image, making it easier for consumers and partners to identify and understand the different businesses and products under Johnson & Johnson.

September 2024,Johnson & Johnson announced itsThe Latest Shockwave BalloonShockwave E8 Approved by the FDA for marketing,And it has started full-scale promotion in the United States. The name Shockwave E8 originates from itsBalloon Length (80mm), alsoThe longest currentlyShockwave Balloon, with the balloon containing8 shock wave generators。

Therefore,Shockwave E8 Can Treat Longer Femoral Artery Lesions(Length exceeding 30cm), doctors can extend the use of Intravascular Lithotripsy (IVL) to treat lesions below the knee and in very distal locations.Shockwave E8 is designed toOptimization of Calcified Popliteal Artery and Infrapopliteal Peripheral Artery Disease (PAD) PatientsTreatment, includingComplex Chronic Limb-Threatening Hemorrhage。

This product expands Johnson & Johnson's peripheral portfolio, which includes the FDA-approved Shockwave L6, Shockwave M5+, and Shockwave S4 IVL catheters.Provides doctors with a complete IVL product portfolio to treat challenging calcified lesions across the entire peripheral anatomy.。

# Executive Evaluation

Johnson & Johnson Executive Vice President and Chief Financial Officer Joe Wolk stated, "Johnson & Johnson achieved remarkable performance in the third quarter, highlighting our continuous innovation investment and acquisition strategy with a forward-looking focus. For example, the successful acquisition of V-Wave has enhanced and differentiated our product pipeline while accelerating business growth."

Johnson & Johnson Chairman and CEO Joaquin Duato stated, "Johnson & Johnson delivered strong performance in the third quarter. During this quarter,The company not only acceleratesMultiple Tumor and Immunology ProductsProgress in drug regulation and approval, andSuccessfully Submitted the IDE Application for the OTTAVA Surgical Robotic System，At the same time, the launch of several heavy-weight products such as the VELYS Spine Robotic System and the Shockwave E8 Peripheral Intravascular Lithotripsy Catheter has been welcomed."These outstanding achievements will further strengthen our confidence in achieving short-term growth targets and long-term vision."

# List of Award-Winning Medical Device Companies

Global Surgical Robotics Industry Awards 2024

Global Medical Technology Innovation Award 2024

Global MedTech Newcomer Award 2024

Global Innovative Medical Device Award 2024

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Medtronic｜Johnson & Johnson J&JMedTech｜Abbott｜Siemens Healthineers｜Philips Medical｜Stryker｜GE Healthcare｜Boston Scientific｜ESSILOR｜Alcon｜Carl Zeiss Medical

#EnMajor Medical Device Manufacturers in China

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