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According to reports, on April 23, Johnson & Johnson announced by internal email that Song Weiqun, chairman of Johnson & Johnson China and president of Johnson & Johnson Medical Technology China, had submitted his resignation to the company after careful consideration to seek external development opportunities.
It is reported that Song Weiqun will continue to serve as the chairman of Johnson & Johnson China and the president of Johnson & Johnson Medical Technology China until the end of September this year, fully responsible for the company's business and daily management to ensure a smooth transition and handover.
At present, its next development direction has not been disclosed to the outside world.
01
Song Weiqun is the first Johnson & Johnson
Chairman of China, a homegrown region
According to public information, Song Weiqun joined the headquarters of Johnson & Johnson in the United States in 2003 and has held leadership positions in the United States, Australia and New Zealand.
In 2006, Song Weiqun returned to China to serve as the head of Johnson & Johnson Medical Technology's China business unit, in 2015, he was promoted to president of Johnson & Johnson Medical Technology China, and since 2018, he has also served as the chairman of Johnson & Johnson China. Prior to his resignation, Song led the Johnson & Johnson China President's Committee to promote the company's innovation journey and synergistic development in China, including medical technology and innovative pharmaceuticals.
Mr. Song Weiqun
As one of the first multinational companies to enter China after the reform and opening up, Johnson & Johnson has witnessed the rapid growth of China's economy. And Song Weiqun, as the first chairman of Johnson & Johnson to grow up in China in more than 100 years of history, has also witnessed this magnificent journey.
With his great contribution to China's healthcare industry and his outstanding leadership and influence in the process of driving the development of the industry through innovation, Song Weiqun was selected as one of the "2023 Forbes China's Top 100 Most Influential Chinese Elites" in October 2023 and was awarded the title of "2021-2022 Shanghai Outstanding Entrepreneur" in January 2024.
In October 2019, under the leadership of Song Weiqun, Johnson & Johnson became the first Fortune 500 company to position the Chinese market as a "global innovation engine".
Previously, Song Weiqun believed: "China is a key strategic source of Johnson & Johnson's global innovation. The Chinese market is huge and has great potential for development. "In the process of rapid economic development, China's medical and health needs are growing. Song Weiqun pointed out that Johnson & Johnson attaches great importance to and continues to take root in the Chinese market, and in Johnson & Johnson's global business map, China is not only the company's development engine, but also the company's innovation engine.
Under the leadership of Song Weiqun, Johnson & Johnson's two major businesses, medical technology and innovative pharmaceuticals, have made great progress in China. Song Weiqun once said that standing at a new historical starting point, Johnson & Johnson will continue to implement the innovation-driven concept of "co-construction, sharing, and common development" to promote high-quality development, accelerate the implementation of global innovation in China, and popularize more advanced medical and health products.
It is understood that as of January 2024, 30 of the 33 products in Johnson & Johnson's innovative pharmaceutical business have been included in the China Medical Insurance Catalog, while Johnson & Johnson Medical Technology has rapidly introduced innovative medical products in surgery, orthopedics, interventional solutions, eye health and other businesses, and is committed to better serving the needs of Chinese patients through local supply chain upgrades and local cooperation.
02
Johnson & Johnson Medical Technologies
There have been a number of recent personnel changes
In fact, Johnson & Johnson Medical Technology recently announced two personnel changes in China.
This month, Johnson & Johnson officially announced that Ronnie Chen will serve as the head of human resources for Johnson & Johnson Medical Technology China & OneHR China from April 29, 2024.
In this role, Ronnie will provide human resources support for Johnson & Johnson Medtech's China business from both an operational and strategic perspective. In this role, she will be responsible for talent acquisition, driving a diversity, equity and inclusion culture, and core capacity building to drive business growth.
It is understood that Chen Yanli, the former vice president of Chinese talent and organizational culture of Roche Pharmaceuticals and the head of the key account management department of China Market Access Hospital, recently left Roche.
And at the end of March, Johnson & Johnson Medical Technology announced the new general manager of China's surgical division, Tulio Oliveira.
Prior to joining the China team, Tulio was the Global Head of Advanced Stapling at Johnson & Johnson Medical Technologies. Tulio joined Johnson & Johnson in '03 with Chericon Sales in Brazil and has since worked in Brazil, the United States, Chile and Argentina, where his responsibilities span sales, marketing, new business development, global strategic marketing, strategic planning and general management. In 2013, Tulio participated in a two-year Global Development Program (IDP) in Somerville, USA, where he led a business of more than $2 billion as the global leader of the Advanced Stapler business.
Prior to joining Johnson & Johnson, Tulio served as an officer in the Brazilian Army. In addition, he was the founder and first president of the Chilean Medical Device Industry Association. At that time, it was announced that after Tulio joined the general manager of the China Surgical Division, he would report directly to Song Weiqun, senior vice president of Johnson & Johnson and chairman of Johnson & Johnson China, and serve as a member of the board of directors of China and a member of the Asia-Pacific surgical business leadership team.
03
Centennial Johnson & Johnson announces brand refresh
Founded in 1886, Johnson & Johnson is one of the world's most integrated and wide-ranging healthcare companies, with operations in three major sectors: medical devices, pharmaceuticals and consumer goods. Headquartered in New Brunswick, New Jersey, USA, it has more than 260 operating companies in 60 countries and regions around the world. For more than 100 years, the company has been committed to advancing health and wellness, keeping people healthy at every age and at every stage of life.
Among them, Johnson & Johnson's medical device business covers four major areas: minimally invasive and open surgery, electrophysiology, orthopedics, and ophthalmology, and its diversified business pipeline has supported Johnson & Johnson Medical to become the foreign medical device company with the highest revenue in China in recent years.
In September 2023, Johnson & Johnson announced a brand refresh that will integrate its two major businesses, MedTech and Pharmaceuticals, under the Johnson & Johnson brand. Among them, the pharmaceutical business Janssen changed its name to Johnson & Johnson Innovative Medicine, while Johnson & Johnson MedTech remained unchanged.
The brand refresh demonstrates Johnson & Johnson's cross-business comprehensive strength in the healthcare field, continues to promote healthcare innovation, solve the toughest health challenges, and promote the development of global health.
Johnson & Johnson launches a new brand identity
It should be pointed out that as one of the first multinational companies to enter the Chinese market since the reform and opening up, Johnson & Johnson has been committed to providing high-quality innovative products to meet the growing demand for medical and health care, bringing health to Chinese patients and consumers, and building a healthy China. Today, Johnson & Johnson's global medical devices, pharmaceutical, consumer products, and omnivision businesses have entered China and become leaders in this business field.
04
In 2024Q1, revenue was $21.4 billion
Cardiovascular business grew by 20.2%
From the perspective of financial data, for the whole year of 2023, Johnson & Johnson will achieve total revenue of $85.2 billion, a year-on-year increase of 6.5%. Among them, Johnson & Johnson Medical Technology achieved revenue of $30.4 billion in 2023, a year-on-year increase of 10.8%, thanks to electrophysiology products in the interventional solutions field, contact lenses in the vision field, wound closure products in the general surgery field and biosurgical products in the advanced surgery field.
On April 16, Johnson & Johnson released its first quarter report for 2024, showing that its global sales reached $21.4 billion, a year-on-year increase of 2.3%. Among them, Johnson & Johnson Medical Technology sales were 7.8 billion US dollars, a year-on-year increase of 4.5%. Johnson & Johnson expects full-year 2024 sales of $88.7 billion to $89.1 billion, up from its previous forecast of $88.2 billion to $89 billion.
According to the financial report, Johnson & Johnson Medical Technology's operating performance increased by 6.3% year-on-year, mainly due to electrophysiology products and Abomed (formerly known as interventional solutions) in the cardiovascular field and wound closure products in the field of general surgery. By line of business:
▪ Cardiovascular revenue was US$1.806 billion, a year-on-year increase of 20.2%. Among them, the electrophysiology business still leads, with revenue reaching US$1.344 billion, a year-on-year increase of 23%; Abiomed's revenue was $371 million, up 14.5% year-over-year.
▪ Orthopedic business revenue was US$2.340 billion, a year-on-year increase of 4.3%. Among them, all four sub-sectors achieved positive growth, with hip and knee growth of 8.1% and 9.0% year-on-year, respectively.
▪ The surgical and ophthalmology business partially declined, and the international market was relatively weak. Surgical revenue was $2.416 billion, down 0.7% year-on-year. Ophthalmology revenue was US$1.258 billion, down 3.3% year-on-year.
"Johnson & Johnson's results in the first quarter are a testament to the strength of our more focused business and the continued progress of our product portfolio and development pipeline. ”
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It should be pointed out that in recent years, due to the changing global market environment, multinational device companies have accelerated their adjustment and transformation to enhance their competitiveness. Among them, Johnson & Johnson has never stopped its pace of innovation and transformation through splits, restructurings, mergers and acquisitions and other ways. At the beginning of April, it also announced the acquisition of Shockwave for a total transaction value of about $13.1 billion, and strongly increased the layout of cardiovascular intervention.
In the face of medical reform in the Chinese market, Johnson & Johnson is also constantly transforming to a new model. As one of the world's fastest-growing markets for digital technology, Johnson & Johnson has accelerated its digital transformation through strategic layout and digital upgrading. In addition, China is the only market outside the U.S. where Johnson & Johnson has R&D centers or R&D departments in all major operations.
Previously, Song Weiqun said that Johnson & Johnson will continue to promote the localization strategy and continue to invest in technological innovation, including introducing innovative products, improving local R&D and manufacturing capabilities, leading digital technology innovation, and promoting global innovation cooperation.
So, after Song Weiqun leaves office, what kind of head will Johnson & Johnson China usher in in the future, and what kind of development path will Johnson & Johnson China take for the new leadership? We will continue to pay attention.