J&J Remains Optimistic Despite 5% Decline In First-Quarter Device Sales
The company expects the COVID-19 pandemic will cost its device businesses between $4bn and $7bn in revenue in 2020, as most non-urgent procedures are postponed.
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Johnson & Johnson management said they expect medical device sales to make a quick recovery in the third and fourth quarter of 2020 after seeing a faster-than-expected reuptake of procedures during the second quarter.
Orthopedic Roundup: Zimmer Biomet, J&J, Smith & Nephew, Stryker Hope For Post-COVID Recovery As Elective Surgeries Restart
The big four companies in the orthopedics space hope that the restart of elective surgeries will make up for lost sales, but many uncertainties remain.
Under guidelines recently unveiled by President Trump, US health care facilities could gradually start phasing-in more elective surgeries, including commonly performed operations that were postponed due the COVID-19 outbreak – many of which involve extensive device use. Elective surgeries include orthopedic joint replacement procedures, colonoscopies and cataract-correcting procedures that could resume as early as May under Trump’s plan.