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J&J Bullish On Procedure Recovery As Q2 Device Sales Beat Analyst Expectations

 
• By Catherine Longworth

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.

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• Source: shutterstock.com

Johnson & Johnson's medical device business shrunk by 32.7% in the second quarter of 2020 due to the COVID-19 pandemic, but the company's management remains optimistic that procedure volumes will recover by the end of the year.

Total revenues for J&J’s devices businesses were $4.3bn during the second quarter. By comparison, J&J’s medical device revenues declined by 4.8% in the first quarter

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