Johnson and Johnson outlines medical technology growth strategy

Johnson and Johnson has outlined its plans to continue the global expansion and market leadership of its medical devices and diagnostics segment during its annual business review.

The group's medical technology division is the largest of its kind in the world and accounted for 41 percent of its 2012 sales, benefiting from research and development investments of $3.5 billion (2.21 billion pounds) in the last two years.

Following the historic $20 billion takeover of Synthes last year, the firm will be evaluating strategic options for its Ortho Clinical Diagnostics business in the coming months and continuing to roll out new products to address unmet medical needs, while also taking steps to accelerate growth in Asia-Pacific and other emerging markets.

Alex Gorsky, chairman and chief executive officer of Johnson and Johnson, said: "We're building on our market leadership positions – having sustained or grown share in the majority of our key platforms – and hold number one or number two positions in over 80 percent of them today."

This week, the firm also announced its financial results for 2012, during which it generated full-year sales of $67.2 billion – up by 3.4 percent on 2011.