Le Lézard
Classified in: Health, Business
Subject: TNM

Johnson & Johnson Announces Acceptance of Binding Offer From Platinum Equity To Acquire LifeScan, Inc.


NEW BRUNSWICK, N.J., June 12, 2018 /CNW/ -- Johnson & Johnson (NYSE: JNJ) today announced that it has accepted the binding offer from Platinum Equity, previously announced on March 16, 2018, to acquire its LifeScan business for approximately $2.1 billion. LifeScan, Inc. is a world leader in blood glucose monitoring and maker of the OneTouch® brand of products.

This acceptance was made after consultation with relevant works councils and trade unions. The transaction is expected to close by the end of 2018, subject to the satisfaction of regulatory clearances and other customary closing conditions.

The Johnson & Johnson Family of Companies will continue to serve those impacted by diabetes through innovative products, services and solutions from its Medical Device, Pharmaceuticals and Consumer businesses. These include important leadership and innovation in areas such as bariatric surgery and through medicines such as INVOKANA® (canagliflozin) and INVOKAMET® (canagliflozin/metformin HCl).

About LifeScan

LifeScan, Inc. is a world leader in blood glucose monitoring. In the U.S., LifeScan, Inc. is the leading maker of blood glucose monitoring systems and its OneTouch® brand products are recommended by more endocrinologists and primary care physicians than any other brand.1 Globally, more than 20 million people depend on OneTouch® brand products for simple testing and accurate results to help them manage their diabetes. For more information visit: www.OneTouch.com.

About Johnson & Johnson

At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That's why for more than 130 years, we have aimed to keep people well at every age and every stage of life. Today, as the world's largest and most broadly-based health care company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.

Note on Forward-Looking Statements

This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 related to the divestiture of the LifeScan business. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: the possibility that the transaction will not be completed, or if completed, not completed in the expected timeframe, and the potential that the expected strategic benefits or opportunities from any divestiture may not be realized, or may take longer to realize than expected. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 31, 2017, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in the company's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

1 Global Brand Equity Insights Study, February 2015

 

SOURCE Johnson & Johnson


These press releases may also interest you

at 06:15
The "Molecular Diagnostics for Cancer: Markets Forecasts by Cancer Type, Product, and Place with Executive & Consultant Guides and Customization. 2023 to 2027" report has been added to  ResearchAndMarkets.com's offering. Exciting technical...

at 06:10
Confo Therapeutics, a leader in the discovery of novel medicines targeting G-protein coupled receptors (GPCRs), announced today that it has been awarded a EUR 1.6 million grant from Flanders Innovation & Entrepreneurship (VLAIO). The 2-year grant...

at 06:08
Aesthetic Management Partners LLC, a manufacturer of skin-based solutions and a provider of energy-based devices announces its collaboration with Croma (Croma-Pharma® GmbH), a global player in the minimally invasive aesthetics market and a leading...

at 06:05
The 2023 U.S. soybean field trials conducted by Texas Crop Science (TCS) demonstrated an average yield increase of 21% in soybean lines incorporating the TCS yield trait. This breakthrough in performance would generate approximately $121 per acre in...

at 06:05
3EO Health, a "Point of Life" diagnostics company focused on the development of high-performing low-cost molecular diagnostics, is excited to announce the next step in their quest to make molecular testing affordable. Today, the company has published...

at 06:05
Zura Bio Limited ("Zura Bio") a clinical-stage immunology company developing novel dual-pathway antibodies for autoimmune and inflammatory diseases, today reported full year 2023 financial results and recent business highlights. The Company has also...



News published on and distributed by: