September 22, 2022: -Johnson & Johnson is honing in on finding new solutions to advance health care treatments, CEO Joaquin Duato said on Tuesday.
The Mad Money host sat with the chief executive on Tuesday at the opening of the company’s recent research and development center in San Francisco.
Duato lived becoming CEO in January and said this is an exciting moment for the company as it’s on the path of facilitating the future of medicine.
When Cramer questioned what makes him confident that Johnson & Johnson can deliver on this claim, Duato cited two initiatives: 1/how it develops and discovers contemporary medicines and 2/ how the company is incorporating technology into its medical devices.
“When it comes to developing the latest medicines, our ability to process hundreds of millions of data points makes us much smarter and faster when recognizing the right targets for our medicines,” Duato explained.
Duato is saying the organization works to be more competitive in Medtech and pharmaceuticals, segments that decrease under the same business umbrella, which takes the “smart” approach in building medical devices via sensors, visualizations, and the ability to upload data to advance medical products.
Johnson & Johnson is the pharmaceutical company in the world. Its pharma business sales grew 12.4% to $13.3 billion in the second quarter, while Medtech and customer health sales increased 3.4% to $6.8 billion and 2.9% to $3.8 billion, respectively.
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