Johnson & Johnson is Betting on Vision Care and Expanding Beyond Contacts

Source: CNBC

Johnson & Johnson has beefed up its vision portfolio over the past few years, and the effort appears to be paying off. Vision care sales reached $1.12 billion last quarter, up from $798 million in the year-earlier period, an increase of 34 percent when subtracting currency. When excluding that and an acquisition, revenue grew 9 percent, according to J.P. Morgan, as reported in CNBC.

The company has invested in vision as it refines its medical device group, adding surgical products and a contact subscription service to its lineup of Acuvue contact lenses.

The result is one of the fastest-growing platforms for J&J, particularly in medical devices, said Ashley McEvoy, company group chair of consumer medical devices.

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