Jan 9 (Reuters) – Johnson & Johnson (JNJ. N) will look for opportunities to merge with or acquire firms that will add value to its focus areas of eye care, surgical robots, orthopedics and cardiovascular products, the company’s Chief Executive Officer Joaquin Duato said on Monday.
The healthcare giant is in the process of spinning off its consumer healthcare business under the brand Kenvue to focus on the pharmaceutical plus medical devices businesses.
“We’ll continue to be disciplined in looking for opportunities in which we can create value that serve a significant unmet medical need like heart failure, ” Duato stated at the particular J. P. Morgan Healthcare Conference.
J& J last month completed its acquisition of coronary heart pump maker Abiomed for $16. 6 billion, which usually will operate as an independent division in its medical devices company.
Duato mentioned many of its future deals would likely be small “tuck-in” acquisitions.
The company’s CEO expects J& J to continue growing towards the goal of $60 billion in pharmaceutical sales by 2025, and is confident associated with exceeding current Street expectations by the targeted year.
Reporting by Leroy Leo and Aditya Samal; Editing simply by Krishna Chandra Eluri
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