J&J To Split Consumer From Medtech and Pharmaceutical Businesses – Creating Two Companies To Unlock More Value, Growth, Innovation
Johnson & Johnson expects that the new J&J unit will be better positioned to share expertise such as combing medical devices with drugs and continue to innovate.
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Johnson & Johnson plans to buy Abiomed for $380 per share – about $16.6bn in total – plus up to $35 per share in potential commercial and clinical milestone-contingent payments. Abiomed is the clear leader in percutaneous circulatory support technology, but would benefit from J&J's reach and resources while complementing J&J's Biosense Webster electrophysiology business.
After 34 years of seeing and shaping Johnson & Johnson’s future, executive chair Alex Gorsky has recently joined Apple’s board of directors. At a recent event, he shared lessons for future leaders while unraveling some of the thinking behind decisions taken as chair and CEO
Kurt Van den Bosch has been named CFO of J&J Medtech where he will report directly to Joe Wolk, J&J’s CFO.