Ava AbbottJohnson & Johnson (J&J) is a global giant based in New Brunswick, New Jersey, specializing in pharmaceuticals, medical gadgets, and consumer products. The company was founded in 1886 by brothers Robert, James, and Edward Johnson to manufacture sterile surgical dressings.
At the time, J&J had only 14 employees. J&J expanded its offering and market presence globally for over 135 years. In 2021, J&J had 141,700 employees and reported a 13.55% increase in revenue to $93.78 billion. Johnson & Johnson plans to split its pharmaceuticals and consumer healthcare businesses into two publicly traded companies. [1]
Johnson & Johnson is a Fortune-500 company and one of the most valuable pharmaceutical brands globally. The corporation has around 250 subsidiaries and operates in 60 countries. Consumers in over 175 countries can access J&J’s medical devices, pharmaceuticals, and personal care products. Johnson & Johnson owns several consumer brands, including Band-Aid, Tylenol, Johnson’s Baby products, Neutrogena, Clean & Clear, and Acuvue.
Its pharmaceutical arm, Janssen, develops and distributes medicines, vaccines, and therapeutic treatments. In Apr 2022, J&J rescinded its forecast for sales of its single-shot vaccine due to low demand and supply glut. The company also faces stiff competition from Pfizer, Novartis, Merck, GSK, Bayer, and Medtronic. [2]
Here is an in-depth analysis of top Johnson & Johnson’s competitors and alternatives:
1. Pfizer
Year founded: 1849
Headquarter: Manhattan, New York
Pfizer is a multinational pharmaceutical and biotechnology corporation. Its the second-largest biopharma company globally after J&J. In 2021, Pfizer had around 79,000 employees and made $81.28 billion in revenue.
Both Pfizer and J&J are the leading manufacturers of vaccines. This venture has increased its revenues since 2020. Pfizer was one of the first companies to research and produce a vaccine after the 2020 epidemic.
Its Comirnaty vaccine and Paxlovid oral drug were already in the trial phase in Nov 2020. Comirnaty is used globally, with over 91% efficacy after the second dose. According to experts, Pfizer’s revenue could reach $101.3 billion in 2022.
Of the $101.3 billion, Paxlovid could contribute $24.2 billion, and Comirnaty set at $29.7 billion. Pfizer is the top J&J competitor and alternative in the pharmaceutical and biotechnology sector. [3]
2. Novartis International AG
Year founded: 1996
Headquarter: Basel, Switzerland
Novartis is a Swiss multinational pharmaceutical corporation and one of the largest companies in the pharmacy sector. The company is a full-time member of several associations, including EEPIA, PhRMA, and IFPMA. In 2021, Novartis had around 110,000 employees and generated $49.89 billion in revenue.
Novartis produces medicines for cardiovascular, neuroscience, dermatology, respiratory, urinary, eye problems, and infectious diseases. The company also offers animal health products. In 2022, Novartis expanded its operations to work more strategically as CDMO. The company has 15 biotech, cell, and gene sites in the US, Europe, and Asia.
As a CDMO, Novartis will expand its contract manufacturing of enzymes, proteins, and antibiotics via its Global Biotech Co-operations (GBTC) unit. Novartis is one of the top Johnson & Johnson competitors. [4]
3. Merck & Co
Year founded: 1668
Headquarter: Rahway, New Jersey
Merck has been operational since the 17th century, making it the oldest existing pharmaceutical company globally. However, the company started mass-producing medicines in the 19th century. In 2021, Merck had around 74,000 employees and generated $47 billion in revenue.
Both Merck and J&J offer pharmaceuticals. But Merck focuses only on oncology, vaccines, and antibiotics. About 30% of Merck’s total revenues come from Keytruda, an oncology treatment.
In Jun 2021, Merch spun off its women’s health division to create Organon. The split will reduce Merck’s revenue by $6.53 billion. J&J is also set to demerger its consumer and pharmaceutical segments in 2022. Merck is the best alternative to Johnson & Johnson for oncology treatments. [5]
4. GlaxoSmithKline (GSK)
Year founded: 1873
Headquarter: London, England
GlaxoSmithKline (GSK) is a British pharmaceutical company. It started as a trading company in Wellington, New Zealand, called Joseph Nathan and Co. and rebranded into Glaxo Wellcome in the 1900s. Then, Glaxo merged with SmithKline Beecham in 2000 to create GlaxoSmithKline. In 2021, GSK had 99,000 employees and generated $46 billion in revenue.
GSK manufactures medicines for infections and diseases, such as diabetes, asthma, and malaria. In 2021, two GSK drugs surpassed $1 billion in annual revenue. Its Trelegy generated £1.2 billion, and Nucala brought in £1.14 billion.
And its FDA-approved monoclonal antibody, Xevudy, will hit £1.4 billion in sales in 2022. Both GSK and J&J will spin off their consumer healthcare businesses in 2022 to concentrate on pharmaceuticals. GlaxoSmithKline is one of the top Johnson & Johnson competitors in the pharmaceutical sector. [6]
5. Bayer
Year founded: 1863
Headquarter: Leverkusen, Germany
Bayer is a German multinational pharmaceutical and life sciences company. The company focuses on consumer healthcare products, agricultural chemicals, seeds, and biotechnology products. In 2021, Bayer had 99,637 employees and made $51.3 billion in revenue.
Both Bayer and J&J operate in the pharmaceutical sector. But Bayer also offers seeds, pesticides, fungicides, and insecticides for agriculture. The company’s agribusiness saw significant revenue growth in the first three months of 2022, driven by favorable agricultural markets.
Its top-selling drugs include Xarelto, Eylea, Adempas, and Xofigo. Bayer is one of the top J&J competitors. [7]
6. Procter & Gamble Co (P&G)
Year founded: 1837
Headquarter: Cincinnati, Ohio
Procter & Gamble is a multinational company that produces consumer and healthcare products, cleaning agents, and diagnostics. It offers over 300 brands in about 80 countries globally, including personal care, beauty care, and household products. In 2021, P&G had around 101,000 employees and generated $76.12 billion in revenue.
P&G reported an increase in revenue in five consecutive years. Its sales growth is at its strongest in at least 15 years. In Apr 2022, P&G raised its full-year revenue forecast due to high consumer demand for cleaning and personal care products.
The company expects fiscal 2022 sales to rise by 4%-5%. Its top-selling brands include Tide and Mr. Clean in the household segment and Oral-B and Pepto-Bismol in the health care business. Procter & Gamble is the top alternative to J&J for consumer products. [8]
7. Medtronic
Year founded: 1949
Headquarter: Dublin, Ireland, and Minneapolis, Minnesota
Medtronic is an American-Irish medical device company. It is among the top 10 most valuable healthcare brands worldwide, with more product approvals and clearances than other medical tech companies globally. In 2021, Medtronic had around 104,950 employees and generated $31 billion in revenue. [9]
Medtronic started as a medical device repair store and expanded its offerings to custom-made devices in the 1950s. Thousands of hospitals in over 140 countries use Medtronic’s medical devices. Like J&J, Medtronic also focuses on medical research, including cardiovascular and diabetes.
In May 2022, 3BL Media named Medtronic on its annual 100 Best Corporate Citizens list for outstanding environmental, social, and governance (ESG) transparency. Medtronic is the top alternative to J&J for medical devices. [10]
8. Abbott Laboratories
Year founded: 1888
Headquarter: Abbott Park, Chicago, Illinois
Abbott is a global healthcare leader that offers diagnostics, generic medicines, medical devices, and Nutritionals. The company has around 113,000 employees and sells its life-changing products in more than 160 countries. In 2021, Abbott’s full-year revenue increased by 24.5% to $43.075 billion. [11]
Abbott and J&J compete across the board, from diagnostics to medical devices, pharmaceuticals, and Nutritionals. J&J has more pharmaceutical products than Abbott. But Abbott’s branded generic medicines have a significant market share.
The company outperforms J&J in the nutritional sector, with renowned brands like Pediasure milk powder. Abbott is a worthy J&J competitor.
9. AbbVie
Year founded: 2013
Headquarter: North Chicago, Illinois
AbbVie is a biopharmaceutical company that originated as a spin-off of Abbott Laboratories. The company’s mission is to deliver innovative treatments for serious medical issues. In 2021, AbbVie had around 50,000 employees and accumulated $56.2 billion in revenue.
AbbVie’s top-selling drug Humira hit its peak sales in 2021 at $20.7 billion. But it faces stiff competition from generics in international markets. The company also offers Botox cosmetics, Imbruvica, and Botox therapeutics.
In 2021, Imbruvica made $5.4 billion. Other top-selling AbbVie drugs include immunosuppressants Skyrizi and Rinvoq. Both products can replace Humira once generics enter the US market and generate over $15 billion in revenue in 2025. AbbVie is a formidable Johnson & Johnson competitor. [12]
10. Bristol Myers Squibb (BMS)
Year founded: 1858
Headquarter: New York, NY
BMS is one of the world’s largest pharmaceutical companies. The Fortune-500 company offers several pharmaceutical products for disease prevention and treatment. In fiscal 2021, BMS had around 30,000 employees and made $42.5 billion in revenue.
BMS’s top-selling drugs include Avalide and Coumadin for cardiovascular diseases, Glucophage for diabetes, Megace for infectious diseases, and Erbitux for oncology.
Warren Buffett’s Berkshire Hathaway had a $324.4 million investment in BMS. The venture capital group severed ties with BMS in 2022. But BMS stands out from the crowd thanks to its quality control standards. Bristol Myers Squibb is one of the best alternatives to J&J in the pharmaceutical sector. [13]
11. Roche Group
Year founded: 1896
Headquarter: Basel, Switzerland
Roche is a Swiss healthcare company that offers diagnostics and pharmaceuticals. The company was one of the pioneers of targeted treatments and produced several antiretroviral drugs.
In 2021, Roche had 100,920 employees and generated $64.6 billion in sales. It accumulated $46.3 billion from pharmaceuticals and $18.3 billion from diagnostics.
Roche is the world’s leading supplier of cancer medicines. It had an enterprise value of $305 billion in 2020 and ranked 2nd in the Top 20 Pharmaceutical Companies. In 2021, Roche was the leading biopharma company in oncology. Roche is one of the top alternatives to Johnson & Johnson for diagnostics and pharmaceuticals. [14]
12. Stryker Corporation
Year founded: 1941
Headquarter: Kalamazoo, Michigan
Stryker is a multinational medical technologies corporation. The company has around 46,000 employees and sells medical devices globally. In 2021, Stryker reported a 19.2% increase in net sales to $17.1 billion. [15]
Stryker competes with J&J in the medical devices sector. Stryker’s revenue has grown by double digits in the past five years.
In 2021, the company integrated with its latest acquisition Wright Medical. “We are well-positioned for future growth,” said Kevin Lobo, chair and CEO of Stryker. Stryker is one of the top J&J competitors in the medical devices sector.
13. Boston Scientific Corporation
Year founded: 1979
Headquarter: Marlborough, Massachusetts
Boston Scientific manufactures medical devices for specialty treatments. The company operates through three segments: Rhythm Management, Cardiovascular, and MedSurg. In 2021, Boston Scientific had around 41,000 employees and generated $11.89 billion in revenue.
Boston Scientific and J&J operate in the healthcare sector. But Boston Scientific specializes in medical devices for radiology, cardiology, oncology, endoscopy, gynecology, and urology. Its top-selling product includes the Watchman projected to grow by double digits in 2022.
The company also offers an industry-leading left atrial appendage closure device. In Apr 2022, Boston Scientific raised its annual sales growth guidance to 7%-9%. Boston Scientific is one of the top Johnson & Johnson competitors in the medical devices sector. [16]
14. Biogen Inc.
Year founded: 1978
Headquarter: Cambridge, Massachusetts
Biogen is an American multinational biotechnology company. It is a leading provider of therapies and treatments for neurological diseases globally. In 2021, Biogen had 9,100 employees and made $10.98 billion in revenue.
Biogen completed the construction of its state-of-the-art facility in Solothurn, Switzerland, in May 2020 to produce the Alzheimer’s drug aducanumab. The monoclonal antibody attracted Berkshire Hathaway, which bought a $180 million stake in Biogen.
In Jun 2021, the drug received FDA approval under the name Aduhelm. But its pricing created controversy, prompting Berkshire to cash out its investment. According to the FDA, aducanumab can reduce amyloid-beta plaques in the brain and help Alzheimer’s patients. Biogen is a worthy alternative to J&J for therapeutics. [17]
15. Organon
Year founded: 1923
Headquarter: Jersey City, New Jersey
Organon is a women’s health company with established brands and biosimilars. The company spun off from Merck in Jun 2021 and started trading on the NYSE under the symbol “OGN.” Before the split, Organon’s health products and biosimilars franchises brought in $6.53 billion in sales.
Organon was a pioneer in contraception and fertility solutions. The newco spun off from Merck with about 80% of its 10,000 employees, ensuring business continuity. Organon will build on its brand reputation and prioritize women’s health. Organon is the newest J&J competitor and the best alternative for women. [18]
References & more information
- Griffin, R. (2021, Nov 13). Johnson & Johnson plans to split into drug and consumer companies. Business Standard
- Mishra, M. (2022, Apr 20). J&J pulls vaccine sales forecast due to low demand. Reuters
- Liu, A. (2021, Nov 23). Pfizer to become a $100B behemoth next year thanks to COVID-19 drug and vaccine. Fierce Pharma
- Byrne, J. (2022, May 16). Novartis looks to work more strategically as CDMO. BioPharma
- Kaser, B. (2021, Aug 4). Buy Merck and its Organon Spinoff. Yahoo Finance
- Keown, A. (2022, Feb 9). GSK Posts Strong 2021 as Demerger Countdown Begins. Bio-Space
- Burger, L. (2022, Apr 25). Bayer says agribusiness drives a successful start to the year. Reuters
- DiNapoli, J. (2022, Apr 20). Procter & Gamble raises sales forecast as demand stays price resistant. Reuters
- Stewart, C. (2021, Sep 1). Medtronic’s total revenue 2006-2021. Statista
- Medtronic (2022, May 18). Medtronic Named to 3BL 100 Best Corporate Citizens of 2022. Yahoo Finance
- Abbott (2022, Jan 26). Abbott Reports Strong Fourth-Quarter 2021 Results. PRNewswire
- Bakiny, P. J. (2022, May 17). Is It Too Late to Buy AbbVie Stock? The Motley Fool
- Kansteiner, F. (2022, May 17). Buffett’s Berkshire backs out of AbbVie, Bristol Myers Squibb holdings. Fierce Pharma
- Mikulic, M. (2022, Feb 3). Roche Group’s total sales 2006-2021. Statista
- Editorial (2022, Feb 12). Stryker reports increased net sales in fourth-quarter, year-end operating results. Helio
- Zipp, R. (2022, Apr 27). Boston Scientific expects a more stable 2022 as procedure volumes recover. Medtech Dive
- Liu, A. (2021, Aug 17). Oracle of Organon: Buffett’s Berkshire cashes out on Biogen. Fierce Pharma
- Liu, A. (2021, Jun 3). Independent from Merck, Organon’s CEO lays out newco’s women’s health ambitions. Fierce Pharma
- Featured image by Mohammad Shahhosseini
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Kevin Johnson
S.K. Gupta
Brianna Parker
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