How business units get involved with J&J’s network of innovation centers
By Amy Lucas, Contributing Writer
That’s the focus of our forthcoming research report, out later this month. And among the people we sought out for advice was Darren Snellgrove, Chief Financial Officer for Johnson & Johnson’s network of innovation centers. The centers aim to be an interface between J&J’s various business units — including pharmaceuticals, medical devices, and consumer healthcare — and the world of startups and academic research institutions. The goal is to spark new collaborations, and sometimes investments, that will lead to new products that J&J can deliver to patients.
J&J has 3 sectors: pharmaceutical, medical device, and consumer, and the innovation centers are one of the few places where those three sectors come together. At J&J Innovation, we’ve invested in some exciting areas across all three sectors and we’re seeing a lot more convergence. General areas of investment include; immuno-oncology, robotic surgery, 3D-printing, gene therapy, the microbiome, wearable technologies, and light therapy for aging and acne. The consumerization of healthcare and the wearable space will have a big impact on healthcare. Wearables, for example, can provide diagnostic capability, continuous monitoring, caregiver interaction, and increased patient and physician interaction.