(MT Newswires) -- Johnson & JohnsonCFO Joseph Wolk says the company beat expectations in 2023, buoyed by 9% growth in innovative medicine and medical technology in the final quarter. The year was marked by the acquisition of heart pump specialist AbioMed for 17 billion dollars, as well as investment of more than 3 billion dollars in around fifty partnerships and small acquisitions. These strategic investments have strengthened the company's product portfolio, which now includes 10 projects each capable of generating more than $5 billion in annual sales at their peak.

Although Johnson & Johnson expects a slowdown in pharmaceutical sales in the second half of the year due to the loss of exclusivity for its flagship product, Stelara, the company remains confident in its ability to grow through its portfolio of products in oncology, immunology and neuroscience. Among the promising areas of research and development, Wolk cites treatments for bladder cancer, lung cancer and multiple myeloma, as well as phase 3 clinical trials for inflammatory bowel disease and psoriasis.

Bloomberg videos