Johnson & Johnson to restructure orthopedic business

Orthopedic

Johson & Johnson is embarking on a two-year restructuring process of its orthopedic business after its third quarter earnings report reflects a shortfall in medical device sales, according to an Oct. 17 report from The Business Times.

Its medical device sales fell short of Wall Street projections, causing J&J to plan an exit strategy for certain markets and stop selling some products under its orthopedic business. 

Johnson & Johnson reported $2.2 billion in orthopedic sales in the third quarter of the year, up 3.4% from the same period last year. Its hip, knee, spine and sports medicine segments also saw year-over-year growth. 

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