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Home Industry News Johnson and Johnson buys insulin pump maker for $518m

Johnson and Johnson buys insulin pump maker for $518m

20th December 2005

Johnson & Johnson (J&J) has agreed to buy insulin pump maker Animas Corporation for $518 million, $24.50 per share.

In a statement, the companies said that Animas would continue to operate as a standalone company through J&J’s LifeScan subsidiary, which produces monitoring systems for blood glucose levels.

It said that the deal had been agreed by boards of directors at both companies, and that it was now awaiting regulatory and shareholder approval. It is expected that the deal will be completed by the first quarter of 2006.

“The combination of Animas’ insulin delivery systems and LifeScan’s glucose monitoring systems will allow us to offer more comprehensive disease management solutions for our patients,” said Eric Milledge, J&J group chairman.

“We have worked in partnership with Animas Corporation since 2003 and know they share our commitment and passion for advancing the standards of care for people with diabetes.”

Dr Katherine D Crothall, CEO of Animas, said that the deal enhanced the firm’s “capacity to further contribute to the management of [diabetes]”.

Johnson & Johnson had planned to purchase heart device maker Gudiant, but has found itself in a bidding war with Boston Scientific, which made a larger bid for the company.

track© Adfero Ltd

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