Johnson & Johnson Splits Orthopedics, Abbott Bets $21B on Early Cancer Screening: Divergent Strategies Behind $94.2B vs $44.3B Financial Results with China as a Key Variable

Revenue of $94.193 billion, a year-on-year increase of 6% ——Johnson & JohnsonBeneath the robust appearance of this report card lies a passive strategic contraction: the growth rate of the orthopedics business.Dropped to 1.1%, becoming the only department in the medical technology sector to lose momentum, forcing the company to announce the spin-off of DePuy Synthes to save the overall valuation system.

Latest! Johnson & Johnson Plans to Spin Off Orthopedics Business, Another $10 Billion Spin-Off Deal

In contrast,Abbott$44.328 billion in revenue, though only half of Johnson & Johnson's, faces even more pressing transformation anxiety: IVD business year-on-yearDown 4.3%, becoming the only position that has been lost. To this end, the company splurged $21 billion to acquire Exact Sciences, attempting to fill the performance vacuum left by the retreat of the COVID-19 dividend with a "growth through acquisition."

Under the dual pressures of evolving global healthcare demands and deepening centralized procurement, the response strategies of the two giants have diverged significantly:Johnson & Johnson Chooses "Cutting Losses" to Divest Low-Growth Assets, Abbott Bets on Emerging Tracks with "Blood Transfusion for a New Heart". AndChina RegionAs one of the important variables, it is accelerating this differentiation — Johnson & JohnsonOrthopedics Market Share Suffers a Major Setback Here, Abbott Diagnostics Business Endures$400 Million Centralized Procurement Impact。

When the existing business hits a ceiling, this strategic shift crucial for survival has officially begun.

• Innovative Pharmaceutical Business：Is the main engine of the company's growth, accounting for65%The above,CampRevenue of $60.401 billion, a year-on-year increase of 6%.
• Medical Technology Business: Revenue of $33.792 billion, a year-on-year increase of 6.1%. The cardiovascular business, with $8.93 billion in sales and a year-on-year growth rate of 15.8%, became the biggest highlight. It is not only the only business unit in the medical technology department to achieve double-digit growth but also propelled the overall medical device business to new heights.

• Tumor:Johnson & Johnson's most outstanding performance in the innovative drug business, with annual revenue reaching $28.308 billion, a year-on-year increase of 20.1%.Darzalex (Daratuzumab): This CD38 monoclonal antibody is Johnson & Johnson's "magic needle" in the multiple myeloma market, with annual sales reaching $14.351 billion, a year-on-year increase of 21%. Carvykti (Cilta-cel)：AndLegend Biotech CollaborationThe BCMA CAR-T therapy developed achieved annual sales of $1.887 billion, surging 95.9%;
• Immunology:Revenue of $15.728 billion, a year-on-year decrease of 11.8%. The decline was mainly attributed to core products.Stelara (Ustekinumab) Faces Biosimilar Launch Impact, Sales Drop 41.3% Year-over-Year to $6.078 Billion;

• Neuroscience:Revenue of $7.837 billion, a year-on-year increase of 10.1%;

• Pulmonary Hypertension:Revenue of $4.437 billion, a year-on-year increase of 3.6%;

• Infectious Diseases:Revenue of $3.241 billion, a year-on-year decrease of 4.6%;

• Cardiovascular and Metabolism:Revenue of $3.778 billion, a year-on-year increase of 6.1%.

  
  

• Surgical Operation:As the largest business in medical technology, revenue reached $10.137 billion, a year-on-year increase of 3%.
• Cardiovascular:Divided intoElectrophysiology,AbiomedAndShockwave MedicalThree Core Segments, Annual Sales Surge Year-over-Year15.8%To89.3Billion US dollars。
• Orthopedics:Revenue of $9.258 billion, a year-on-year increase of 1.1%;
• Ophthalmology:Revenue of $5.468 billion, a year-on-year increase of 6.3%.

• Medical Device Business：Abbott's largest business segment, with revenue of $21.387 billion, increased by 12.6% year-over-year, accounting for a significant proportion.48%；
• Diagnostic Services: Revenue of $8.937 billion, a year-on-year decrease of 4.3%, was also Abbott's only declining business, accounting for 20%.；
• Nutritional Products Business: Revenue of $8.451 billion, a year-on-year increase of 0.4%,Accounting for 19%;
• Pharmaceutical Business Revenue: $5.536 billion, a year-on-year increase of 6.6%, accounting for 13%。

▲Abbott Medical Devices Business 2025 Fiscal Year Data Overview (Unit: $Million)

• Rhythm Management: Revenue of $2.649 billion, a year-over-year increase of 10.9%;

• Electrophysiology: Revenue$2.764 billion, a year-on-year increase of 12%;

• Heart Failure: Revenue of $1.448 billion, a year-over-year increase of 13.2%, representing the fastest-growing business in cardiovascular.

• Cardiovascular (Vascular): Revenue of $2.995 billion, a year-over-year increase of 5.6%.

• Structural Heart: Revenue of $2.523 billion, a year-over-year increase of 12.3%.

• Traditional Diagnosis:Revenue of $5.36 billion, a year-on-year increase of 2.4%, is Abbott's largest IVD business.YesStable Basic Disk；

• Rapid Diagnosis:Revenue of $2.454 billion, down 18.1%, is the decline in IVD.The most serious business,This is precisely the sector where Covid-19 testing-related products were previously concentrated;
  

• Molecular Diagnostics:Revenue of $517 million,Year-on-year-0.7%；
  

• Point-of-care diagnosis:Revenue of $606 million, up 3.1% year-over-year%，Mainly due to the clinical adoption of high-sensitivity troponin testing。