J&J sees device growth via new products, emerging markets

Johnson & Johnson said on Thursday it would file for approvals of more than 30 major products by the end of 2016 as it looks to restore growth to a medical device division that has been overshadowed by its drugs business. The diversified healthcare company said it was positioned for growth through new products and would place significant focus on fast-growing emerging markets, particularly China and Russia. "We are capitalizing on our established footprint to grow and expand our overall business (in China)," Chief Financial Officer Dominic Caruso said during a device business review for analysts and investors at its New Jersey headquarters. J&J said it signed an exclusive agreement with Nova Biomedical Corp to sell blood glucose testing systems to hospitals in China, which account for about 60 percent of diabetes care in the country.