Johnson & Johnson Steps Up Medical Device Investment In China
This article was originally published in PharmAsia News
Johnson & Johnson, known in China for its personal care and infant products, has of late stepped up efforts in its medical device business. Now the firm's second largest portfolio-with sales overtaking drugs and consumables for the past five consecutive years-medical device sales and profit have surpassed 36 percent growth annually. The firm also plans to acquire local companies in the sector to rapidly penetrate into the medium- and low-end medical device business, widely regarded as the first segment to benefit from China's health care reform. Johnson & Johnson is in the process of buying domestic firm DaBao Daily Chemicals; if successful, the 2.3 billion yuan deal will be J&J's biggest acquisition in China. (Click here for more - Chinese language)
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