Johnson & Johnson pushes into insulin delivery market
Johnson & Johnson (New Brunswick, New Jersey, US) has completed its previously announced acquisition of Animas Corporation (West Chester, Pennsylvania, US), a maker of insulin infusion pumps and related products.
Johnson & Johnson (New Brunswick, New Jersey, US) has completed its previously announced acquisition of Animas Corporation (West Chester, Pennsylvania, US), a maker of insulin infusion pumps and related products.
The company was acquired in a cash-for-stock merger transaction in which stockholders received $24.50 for each outstanding Animas share. The net value of the transaction is estimated at $518m.
Animas is expected to operate as a stand-alone entity reporting through LifeScan, a J&J company offering blood glucose monitoring systems, thus providing LifeScan with immediate entry into the insulin-delivery pump market.
'Diabetes is a worldwide issue, growing at an alarming rate,' said Eric Milledge, J&J company group chairman with responsibility for the LifeScan business. '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.'