In his first interview as Johnson & Johnson CEO, Joaquin Duato says at CNBC's Healthy Returns that there will be more innovation in health care over the next ten years than in the past century.
Duato, the first non-U.S. born CEO for the company, and first to hold dual citizenship , has been with J&J for three decades and was the chief information officer of its pharmaceuticals business, giving him key insights into the role of technology in health care. Johnson & Johnson, which is a bellwether in the health-care sector for hospital surgeries and procedures, has seen Covid pressure the overall business, but the CEO noted ahead of the upcoming earnings season that it did see good performance in its medical device business in 2021, with close to 16% growth, even as Covid weighed on activity and in particular, elective procedures.
Research and development on the drug side is accelerating as well, he said, with a pipeline of 14 new medicines to be filed before 2025. "All of them are providing significant improvements in the standard of care, and at the same time, all of them with more than a billion dollar potential," he said.
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