David Chen's questions to Johnson & Johnson (JNJ) leadership • Q4 2024
Question
An analyst from Goldman Sachs questioned the MedTech strategy, noting that organic growth appeared to be below the company's target range when excluding M&A, and asked about the long-term balance between organic and inorganic growth. He also sought to confirm there was no revenue reversal for VARIPULSE.
Answer
An executive, likely Tim Schmid, acknowledged the 4.7% organic growth but expressed confidence in achieving upper-range 5-7% growth long-term, citing strong performance in cardiovascular and improvements in orthopedics and vision. He noted short-term headwinds from U.S. EP competition and China. CFO Joseph Wolk confirmed there were no revenue recognition reversals related to VARIPULSE in the quarter.