Joaquín Duato (Valencia, 1962) is not often seen in the media. This Valencian, based in the USA, has been leading Johnson & Johnson (J&J) since 2022, one of the largest healthcare companies globally, and prefers to shift the focus to the firm's achievements. Its uniqueness in the sector lies in its breadth, as it markets cutting-edge biological treatments (such as Concerta for ADHD or Darzalex for multiple myeloma), robotic surgery devices, and self-care products. "We are unique in the sector, as we focus on both pharmaceutical products and medical technology," Duato points out, welcoming Actualidad Económica at the J&J headquarters in Madrid. "It's been a long time since I've been here, since 2022," he confesses.
A week ago, he stole the spotlight at the gala where he received the Entrepreneur of the Year award from the Spain-United States Chamber of Commerce and there he recalled the "American ingenuity" of the Johnson brothers, who created sterile surgical supplies to prevent infections 140 years ago. From that seed, today there is a giant focused on six areas: oncology, immunology, neuroscience, cardiovascular, surgery, and vision. He expects to close the year with a turnover of around 93,000 million (the latest results show revenues of 24,000 million dollars in the third quarter alone), has invested more than 55,000 million in innovation for the next four years, and employs about 138,000 people worldwide (1,500 in Spain).
Few can claim to know this company as well as he does. He has been with the company for over 36 years and has gradually climbed to the top (poc a poc, as they say in his homeland). "Over all that time, you learn how to better handle problems, how to stay more focused, have clearer priorities, and not let things take you off the path you want," he summarizes his extensive career dedicated to the healthcare sector. Duato is one of the most influential Spanish executives in the world, the eighth CEO in J&J's history, and the "first with dual Spanish and American nationality," he highlights. He also boasts about the company's Credo: "These are values that we have already internalized." For the businessman, who holds an MBA from Esade (1985) and an International Management degree from the Thunderbird School of Global Management, it is "more than just a moral compass. It is a formula for business success."
That Credo, which encapsulates the passion for medicine inherited from his family, but also business aspects, is displayed at the entrance of all company headquarters. Duato looks at it with pride while posing for this interview.
"Tariffs in our sector are still to be defined. We will see what happens in the end"
"The combination of medical technologies and drugs is less than 20% of the health budget"