Johnson & Johnson is working to find new solutions to advance health treatments, CEO Joaquin Duato told CNBC’s Jim Cramer on Tuesday.
The “Mad Money” host spoke with the chief executive on Tuesday at the opening of the company’s new research and development center in San Francisco.
Duato, who became CEO in January, said this is an exciting time for the company as it is on the path to facilitating the future of medicine.
When Cramer was asked what makes him believe Johnson & Johnson can hold that claim, Duato cited two initiatives: 1/ how it develops and discovers new drugs, and 2/ how the company incorporates technology into its devices. medical.
“When it comes to developing new drugs, our ability to process hundreds of millions of data points makes us much smarter and faster when it comes to identifying the right targets for our drugs,” explained Duato.
Duato said the company is working to be more competitive in medical and pharmaceutical technologies, segments that fall under the same business umbrella, by taking the “smart” approach to building medical devices through sensors, visualizations and the ability to download data to advance medical outcomes.
Johnson & Johnson is the world’s largest pharmaceutical company. Sales of its pharmaceuticals business jumped 12.4% to $13.3 billion in the second quarter, while sales of medical and consumer health technologies rose 3.4% to $6.8 billion and 2.9% to $3.8 billion, respectively.
Disclaimer: Cramer’s Charitable Trust owns shares of Johnson & Johnson.
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