Company: Johnson & Johnson ($JNJ)
Headquarters: New Brunswick, NJ
Med Tech R&D budget 2012: $1.68 billion
The bottom line: The consumer products, drug and device giant ranks second in med tech R&D spending for 2012, and its numbers represent a decline from $1.75 billion in 2011 and $1.8 billion in 2010. That decline, in part, came from the decision by J&J's Cordis division to exit the stent business, and by default, end its clinical development program for the Nevo drug-eluting coronary stent. Exiting the stent business led to the elimination of as many as 1,000 jobs, though J&J has attempted to reverse sluggish growth through its $21.3 billion acquisition last year of orthopedic products company Synthes.
J&J's $21.3B bid for orthopedic devicemaker Synthes nearly done
Cordis to rein in stent development, cut jobs