00:00Johnson & Johnson shares dipping just a little bit after the company reported revenue for its
00:04MedTech segment that fell short of expectations. The firm also posting mixed sales for its drugs.
00:09Joining us with more is Bloomberg's Madison Muller. What's the read across, Madison? Is this
00:15purely a J&J story? Is it a consumer story? Why the maybe slight underperformance?
00:21Yeah, thank you for having me on. I mean, J&J is interesting because it is a really diversified
00:26company. The company has both drugs. They also have MedTech devices. They make surgical tools.
00:32And typically, that can be a boon for them. But when one of the units misses, like we saw today,
00:38came in a little bit below expectations on the MedTech side, that can hurt their shares and hurt
00:45the sentiment among investors. So one of the reasons that their MedTech business is coming in a bit below
00:50expectations is because of this company, Abiomed, that they acquired. And they make devices like
00:57heart pumps and things like that. And there have been some recalls there. There was also a recent
01:02study that didn't do as well as people had hoped. And that sort of hurt demand as well.
01:08So what we're seeing right now is pretty isolated to J&J. But J&J is typically one of the
01:14first
01:14pharmaceutical companies to report earnings. And so it can be a little bit of a bellwether for the rest
01:20of the sector. Although we, you know, as of right now, it seems like this is maybe a bit isolated
01:26to
01:26a J&J situation.
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