According to CEO Joaquin Duato, Johnson & Johnson is focusing on developing fresh approaches to improve medical treatments.
At the company’s new research and development center’s opening in San Francisco on Tuesday, the “Mad Money” host sat down with the CEO.
The company is at an exciting time, according to Duato, who took over as CEO in January, because it is on the way to supporting the future of medicine.
Duato responded to Cramer’s question by listing two projects that give him confidence in Johnson & Johnson’s ability to fulfil this promise: 1) the company’s approach to developing and discovering new medications; and 2) the way it is integrating technology into its medical devices.
In terms of creating new medications, Duato said, “Our capacity to handle hundreds of millions of data points makes us much wiser and faster when it comes to selecting the correct targets for our medicines.
By using sensors, visualisations, and the capability to upload data to improve medical results, Duato claimed that the company is attempting to become more competitive in the medtech and pharmaceuticals sectors, which are under the same commercial umbrella.
The biggest pharmaceutical corporation in the world is Johnson & Johnson. Sales of its pharmaceutical division increased 12.4% in the second quarter to $13.3 billion, while those of its medtech and consumer health divisions increased 3.4% and 2.9%, respectively, to $6.8 billion and $3.8 billion.