Abbott Laboratories and Johnson & Johnson joined Medtronic in putting a clear distance between themselves and other global medtechs in the Top 10 by revenues for 2021. Post-COVID-19 procedure growth, and, for Abbott, a strong rebound in non-COVID diagnostic demand, were key drivers.
Abbott Laboratories joined Medtronic in recording more than $30bn in revenues In 2021, the first year that the medical devices and diagnostic industries have had two companies exceeding this threshold.
In the next year or two, Johnson & Johnson might also join the club if it consolidates progress made...
Pressure to exploit connected care functionality is accelerating the shift in care delivery away from the inpatient setting. Medtechs are reshaping to maximize faster-growth opportunities.
Nine biopharma companies made 12 or more deals, with Novartis inking 21 deals and leading M&A activity. Roche, meanwhile, spent little up front but maintained a hectic pace with 12 alliances.
As Eli Lilly and Novo Nordisk reap the blockbuster rewards of their rival obesity therapies the companies are also bulking up their organizations to make the most of the phenomenal rise of the GLP-1 class.
