Hold on to J&J

Clients have been a little anxious about Johnson & Johnson because it hasn't done much over the last five years. It's been grinding slowly higher, unlike the tech stocks that we own, which have been flying. J&J does have a 3% dividend yield, which is nice. Apart from that, there's not been much to "write home about", as they say.

Now that it has spun off its consumer products division, J&J is left with two major parts: pharma (drugs) and MedTech (joint replacements, hospital equipment and scanners).

In the pharma division they have a great pipeline of new drugs coming. That's good news, because their longstanding immunology product, Stelara, is nearing the end of its 20-year patent period.

Here's a review of their new drug pipeline, on Fierce Pharma: J&J expects 25 blockbuster drugs to drive future sales growth. Here's another article on EndPoints, an interview with J&J's head of innovative medicine, John Reed: J&J promises 20 new drugs to back pharma growth through end of decade.

We will go on holding this one.