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Biotech / Medical : Future Medical Device Companies -- Ignore unavailable to you. Want to Upgrade?

To: dr.praveen who wrote (15)	9/6/2006 10:56:46 AM
From: keokalani'nui	Respond to of 136

FWIW... JERSEY CITY, N.J., Sept 6 (Reuters) - Johnson & Johnson (JNJ.N: Quote, Profile, Research) on Wednesday forecast slower growth in the medical devices sector, which was driven by a spate of new products in the first part of the decade. Michael Dormer, worldwide chairman of J&J's medical device and diagnostics business, said the sector will likely not keep pace with prior years. J&J's net sales for medical devices and diagnostics in the 2006 first half rose 5 percent from a year earlier to $10.2 billion. Growth in the 2005 first half was 18 percent. "While it likely won't grow as rapidly as it did in the first half of this decade ... this remains a very large market with healthy growth prospects," said Dormer. He pointed to analysts' projections for overall growth in the medical technology sector of 4 percent, far below the 15 percent growth rate in 2004. Dormer made his comments at the company's medical devices and diagnostics analyst day. He said the company is spending more than $1 billion a year on research and development. J&J earlier this year lost a bidding war with rival Boston Scientific Corp. (BSX.N: Quote, Profile, Research) over Guidant, maker of implantable heart devices. Dormer said the company will make selective acquisitions to drive growth.