NEW BRUNSWICK, N.J.,
May 28, 2015 /PRNewswire/
-- Johnson & Johnson (NYSE: JNJ) today announced the
acceptance of the March 1, 2015
binding offer from Cardinal Health to acquire its Cordis business
for an approximate value of $2
billion. The offer was accepted after consultations with
relevant works councils and trade unions. The company expects the
transaction to close towards the end of 2015, subject to regulatory
clearances and other customary closing conditions.
Johnson & Johnson remains dedicated to combating
cardiovascular disease through its electrophysiology business,
Biosense Webster, in the Medical Devices segment and its leading
cardiovascular medicine, XARELTO®, in the Pharmaceutical
segment.
About Cordis
Cordis is a leader in the development and manufacture of
interventional vascular technology, partnering with experts
worldwide to treat millions of patients who suffer from vascular
disease. The business has operations in more than 50 countries,
with an extensive research and development network and a global
commercial footprint.
About Johnson & Johnson
Caring for the world one person at a time inspires and unites
the people of Johnson & Johnson. We embrace research and
science - bringing innovative ideas, products and services to
advance the health and well-being of people. Our approximately
127,000 employees at more than 265 Johnson & Johnson operating
companies work with partners in health care to touch the lives of
over a billion people every day, throughout the world.
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 Cordis 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 description 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 28, 2014, including in
Exhibit 99 thereto, and the company's subsequent 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. Johnson & Johnson does not undertake to
update any forward-looking statement as a result of new information
or future events or developments.
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SOURCE Johnson & Johnson