J&J holds off on volatile M&A mar­ket but has plen­ty of cash for a deal

While J&J racked up $23 bil­lion in to­tal sales for the third quar­ter and spun off its con­sumer health busi­ness, an­a­lysts want to know what the com­pa­ny is plan­ning next.

CFO Joseph Wolk said dur­ing the com­pa­ny’s Q3 earn­ings call that the com­pa­ny is fac­ing some pos­si­ble macro­eco­nom­ic pres­sures, such as in­fla­tion, Covid-19 and oth­er glob­al events. Here’s what Wolk had to say:

“The macro-eco­nom­ic pres­sures that all in­dus­tries and all com­pa­nies are fac­ing is some­thing that we have to ad­dress as well, while health­care is a very, very good busi­ness and more re­silient than most it’s not as if we’re im­mune to some of those dy­nam­ics. So, as we fi­nal­ize our plans for 2023, we will be look­ing at pri­or­i­tiz­ing our re­source de­ploy­ment to those ini­tia­tives, those projects, those ser­vices that de­liv­er the most val­ue for pa­tients, which in turn is then healthy for our busi­ness.”

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