Johnson & Johnson To Expand Business In China, CEO Says

Johnson & Johnson plans to focus more on China, a market characterized by an expanding middle class and an aging population, according to company chairman and CEO Alex Gorsky. China's middle class could grow from the current 300 million people to as much as 800 million in the next several years, Gorsky added. China's population is also aging, with 9 percent of the population above 65 years. That number is forecast to reach 25 percent in the next 20 or 30 years, J&J's CEO said. China accounted for almost $2.5 billion of Johnson & Johnson's $67.2 billion sales in 2012.