Johnson & Johnson (JNJ, Financial) (0.3%) (JNJ – $140.63 – NYSE) is the world's largest and most diversified healthcare company, which is helping it to weather the COVID-19 crisis better than most of its peers. The company's pharmaceutical business is one of the fastest growing in the industry, driven by multiple essential oncology and anti-inflammatory products. The consumer division has recovered from several years of manufacturing and quality problems, with a recovery in the over-the-counter medicine business being partially offset by COVID-19 related weakness in skin and beauty products. Johnson & Johnson's medical device business is recovering quickly from the March halt in non-emergency surgeries and should post double digit growth next year as they work through the backlog of deferred procedures. Johnson & Johnson has the management team and the strong balance sheet to emerge from the current crisis in a stronger position than ever before.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund second-quarter 2020 shareholder commentary.
