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

Food and Healthcare Press Releases Wednesday June 13, 2018 08:00
NEW BRUNSWICK, New Jersey--13 Jun--PRNewswire/InfoQuest

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(R) 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(R) (canagliflozin) and INVOKAMET(R) (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(R) 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(R) 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

Latest Press Release

Menarini Progresses Into the Clinic With MEN1611, a PI3K Inhibitor for the Treatment of HER2 Positive Metastatic Breast Cancer

Menarini Ricerche announced today the initiation of the B-PRECISE-01 clinical trial, a multicenter phase Ib study that will evaluate the safety and efficacy of MEN1611 plus trastuzumab with or without fulvestrant. The study will enroll patients with...

Don#t Miss the Signs of a Breaking Spine, Warns IOF

Osteoporosis, a disease which causes bones to become weak and fragile, is the cause of broken bones in approximately one in three women and one in five men aged over 50 worldwide. (Photo: https://mma.prnewswire.com/media/767079/IOF_Infographic.jpg...

Merck Inaugurates State-of-the-art Pharma Packaging Center in Darmstadt

- Expansion of the pharma manufacturing site at Merck's headquarters supports growth of current and future portfolio of pharma medicines - New building dedicated to the packaging and shipping of Merck's pharma medicines in more than 90 countries - EUR63...

Herbalife Nutrition Survey Reveals Secrets to Healthy Aging, Announces Wellness Tour to Kickstart APAC Consumers# Healthy Aging Journey

As a company whose purpose is to make the world healthier and happier, premier global nutrition company, Herbalife Nutrition, today released findings from its 2018 Asia Pacific Healthy Aging Survey. Conducted in August 2018 with 5,500 respondents aged 40...

Global Survey and Documentary Film Expose Emotional Impact of Multiple Sclerosis

- Merck-sponsored survey developed in collaboration with IACO and Eurocarers reveals lifelong effects of caring for a loved one with MS - #MSInsideOut documentary film, executively produced by Shift.ms, provides artistic take on the experiences of those...

Related Topics