“There will be more innovation in health care over the next ten years than in the past century,” Joaquin Duato said in his first interview since becoming CEO of Johnson & Johnson in January.
Speaking as the pharma giant prepares to form two separate companies on CNBC’s Healthy Returns, Duato underscored that separating the company’s consumer brands from its medical technology and pharmaceuticals will help J&J be at the forefront of surgical techniques that transform health care.
“For the consumer health company, it’s going to be an opportunity to deepen the relationships with consumers to attract new investors, to inspire employees, and to be able to have a fit-for-purpose model with their own capital location priorities … and then for the new Johnson & Johnson it is going to be an opportunity to be more focused, more competitive and to deliver increased growth,” Duato told CNBC.
Duato noted that in 2021 Johnson & Johnson invested more than $2 billion in innovation, an increase of 23%. “That’s a sign of how much we believe in … combining science and technology to deliver improvements in patient care,” he said.
He also discussed exciting innovations in the pipeline.
Johnson & Johnson is a BIO member.