NEW YORK – Johnson & Johnson may be set to deliver mid single-digit revenue growth and high single-digit profit growth in the next few years, lead by its pharmaceutical division, according to an article in Barron's.
The growth could come after years of large missteps, including factory problems in its Consumer Division and a $2.9 billion charge related to the recall of artificial hips, Barron's said in its December 17 edition.
"Revenue growth is improving in all three businesses," Barclays analyst C. Anthony Butler told Barron's.
The company's three divisions are Pharmaceuticals; Medical Devices & Diagnostics, which makes artificial knees and hips; and Consumer, maker of Tylenol and Band-Aid.
Barron's said detractors have criticized the company as having lost its innovative edge and that its management team is overly conservative.
(Reporting By Ilaina Jonas; Editing by Maureen Bavdek)