During Johnson & Johnson's fourth-quarter earnings call, CEO Alex Gorsky projected elective surgical volumes to be most affected in the first quarter, but hopes improved vaccine distribution will lead to more "normalized levels" toward the end of the year, according to The Motley Fool.
Five notes:
1. Despite surgical challenges in the first quarter, Mr. Gorsky said he was "encouraged" by hospitals' ability to navigate current patient demands. Overall, hospital volumes are decreasing no more than 10-15 percent, particularly in the U.K. and parts of Europe, he said.
2. Johnson & Johnson plans to use 2019 as "more of a benchmark" for financial performance in 2021, Mr. Gorsky said.
3. The company's fourth-quarter revenue of $6.6 billion was $59 million short of Wall Street expectations, according to MedTech Dive. Analysts reported that orthopedics revenue missed projections by $92 million, with further misses for hips ($12 million), knees ($38 million), and spine and other ($56 million).
4. This month, Johnson & Johnson received FDA clearance for its Velys robotic-assisted solutions. The system will complement its Attune system for knee replacement, with applications for hip procedures in the pipeline.
5. Mr. Gorsky said the industry is "just starting to unlock the full potential and benefits of robotic and digital technologies," and believes Johnson & Johnson is well-positioned to bring these innovations "to the surgery suite over the next 10, 20, and 30 years."