J&J’s Weldon Says Drop in Medical Spending Near a Turnaround
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Johnson & Johnson Chief Executive Officer William C. Weldon said the decline in medical spending that started with the global financial crisis may be nearing a bottom, leading the company to forecast a sales gain for 2012.
J&J, the world’s second-biggest seller of health products, sees signs that the drop in elective procedures including knee and hip replacements is leveling off, Weldon said today. That pattern, and a return to the market of recalled J&J consumer products, may help boost sales by as much as 2 percent this year, the New Brunswick, New Jersey-based company said.