April 25, 2022
J&J Is Open to M&A
Johnson & Johnson executives made it clear during the company's first-quarter earnings call that J&J remains focused on both internal innovation as well as merger and acquisition (M&A) opportunities. That includes the company's medtech business. The company's CFO, Joe Wolk, said J&J is evaluating opportunities to complement the current portfolio with acquisitions that build upon J&J's capabilities, address portfolio gaps, or play in higher-growth markets while yielding solid financial returns. He emphasized that strategic fit – not size – is what matters most to the company where M&A is concerned.
Abbott's COVID Test Sales Surge
Abbott's COVID-19 test sales surged in the first quarter to $3.3 billion, driven mostly by the sale of rapid COVID-19 tests such as the BinaxNOW. The company's first-quarter results also show that its diversified product portfolio continues to be its secret sauce.