Top Medtech Companies Posting Solid Revenue Gains 3844

Originally Published MX July/August 2005

BUSINESS NEWS

Unlike other technology sectors that struggled through the economic doldrums of 2004, the top 20 medtech firms turned in another year of solid performance. Of these 20 companies, 18 realized year-to-year revenue gains, with 12 firms posting double-digit sales increases. Only two companies saw 2004 revenues decline as compared with 2003 (see Table).

Boosted by sales of its market-leading Taxus drug-eluting coronary stent, Boston Scientific Corp. (Natick, MA) saw its revenues jump from $3.5 billion to $5.6 billion—a whopping increase of more than 60%. GE Healthcare (Chalfont St. Giles, UK), buoyed by its acquisition of Amersham (a top 20 company last year), reported an increase of nearly 32% in 2004 revenues. Johnson & Johnson Inc. (New Brunswick, NJ) remains the top performer, a position that is likely to strengthen, as the company's acquisition of Guidant Corp. (Indianapolis) is expected to close in the third quarter of this year. Guidant currently ranks 14th in the list of top-performing companies.