“In MedTech, as indicated in January, we anticipated pockets of challenge early on and are planning for higher second-half growth in those areas of our business.”

In context

“As a result, adjusted income before tax for the enterprise as a percentage of sales decreased from 36.8% to 36.6%. This concludes the sales and earnings portion of the call, and I will now turn the call over to Joe. Joe Wolk: Hello, everyone, and thank you for joining us today. Thanks, Jessica, not just for the transition now, but also how well you have led the investor relations function the past few years. The investment community will miss you, but we look forward to seeing you in the lead finance role in innovative medicine. Our first quarter results demonstrate the strength and reliability of Johnson & Johnson. Innovative medicine achieved robust growth in the face of STELARA biosimilar entrants, and we advanced our pipeline, attaining significant clinical and regulatory milestones. In MedTech, as indicated in January, we anticipated pockets of challenge early on and are planning for higher second-half growth in those areas of our business. The team is focused on commercial execution and accelerating the recently launched products to deliver MedTech's commitments that are included in the company's full-year guidance. The recent acquisitions of Abiomed and Shockwave continue to expand our presence in higher growth markets. Joe Wolk: In addition, we continue to take steps to improve MedTech's future margin profile, implementing a restructuring program designed to simplify and focus the operations of our surgery business, similar to what we launched in orthopedics in 2023. Focusing on portfolio renewal, we plan to exit certain non-strategic product lines globally and optimize select sites across the network. We anticipate some modest short-term revenue disruption in Surgery of approximately $250 million in total over the next t”