Bioelectronics Corp (BIEL)

[Simpsonly]

Anyone see what Alex Gorsky said in a Bloomberg interview on April 26 - his first day in office and first interview since being appointed CEO at J&J? Here it is in part - note the comment about medical devices. Yessssssssssss

HEADLINE
J&J CEO Gorsky Says Company Will Grow While Rivals Shrink

By Shannon Pettypiece and Michelle Fay Cortez - Apr 26, 2012 7:31 PM ET

When Alex Gorsky takes over as Johnson & Johnson (JNJ)’s chief executive officer today, he won’t be shedding operations like his peers at Pfizer Inc. (PFE) and Abbott Laboratories. (ABT) He’s looking to get bigger.

Gorsky sees value in being a large, diversified company and said he has no plans to sell any of J&J’s businesses. He expects to use some of company’s $14 billion in cash to do deals, focusing on medical devices such as heart valves and acquisitions that will expand sales in China and other emerging markets, he said.

“When there are large opportunities that we think can give us some strategic advantage, we will obviously take a look,” Gorsky, 51, said in a telephone interview. “We are committed to being diversified across the whole health-care continuum.”

Gorsky will officially takes over as CEO today of the world’s second-largest seller of health-care products during the New Brunswick, New Jersey-based company’s annual meeting. He steps into the role as J&J’s image has been tarnished by recalls of artificial hips and over-the-counter drugs; safety concerns over its vaginal mesh products that spurred hundreds of lawsuits; and more than $1.1 billion in fines over the marketing of schizophrenia treatment Risperdal.

The interview yesterday represents Gorsky’s first public comments since he was named CEO in February, replacing William Weldon, who ran the company since 2002.END OF THIS PART