J&J's Gorsky will target device deals for emerging markets

Expect Johnson & Johnson ($JNJ) to start spending some of its $14 billion in cash on medical device deals to help expand its presence in emerging markets once Alex Gorsky becomes CEO. So says Gorsky himself in an interview published April 25 in Bloomberg, a day before the New Jersey medical and consumer products giant is scheduled to hold its annual meeting and he assumes the top slot. Specifically, he said, he'd focus on medical devices such as heart valves in order to expand the company's presence in China and other emerging markets. "When there are large opportunities that we think can give us some strategic advantage, we will obviously take a look," Gorsky told Bloomberg. Story

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