Johnson & Johnson said on Thursday it planned to file for approvals of more than 30 major products by the end of 2016 as the diversified healthcare company looks to restore growth to a medical device and diagnostics division that has been overshadowed by its drugs business in recent years.J&J said it was positioned for growth through new products recently launched and those in its pipeline and would place significant focus on fast-growing emerging markets, particularly China and Russia."We are capitalizing on our established footprint to grow and expand our overall business (in China)," Chief Financial Officer Dominic Caruso said during a device business review for analysts and investors at its New Jersey headquarters.J&J said it has the number one diabetes business in China, with a population that includes a quarter of the world's diabetics. The company said it has signed an exclusive equipment manufacturing agreement with Nova Biomedical Corp to sell blood glucose testing systems to hospitals in China, which account for about 60 percent of diabetes care in the country.
Johnson & Johnson is a holding company. The Company is engaged in the research and development, manufacture and sale of a broad range of products in the health care field. Shares of JNJ traded higher by 0.19% or $0.195/share to $100.64. In the past year, the shares have traded as low as $82.12 and as high as $101.98. On average, 7985400 shares of JNJ exchange hands on a given day and today's volume is recorded at 1855630.
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