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Johnson &
Johnson Buys Synthes
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Paying $21.3 Billion Johnson and Johnson purchased Synthes to boost presence in Trauma market. According to Chief Executive Officer
Bill Weldon the Acquisition will effectively position J&J as the the
majority in
the trauma market.
Weldon went on to say “Very infrequently do you ever see an opportunity for a
company like Synthes to come into play with J&J....We just thought this was an
extraordinary opportunity and the time was right.”
Alex Gorsky, vice chairman of J&J’s executive committee said "We believe we will
not be any required to make any divestitures and if there are any, they will not
materially impact the transaction.” He indicated that the acquisition will move
to benefit the industry including medical practitioner because it will stimulate
competition.
The purchase was the biggest in Johnson &
Johnson's 125 year history and is expected to corner the $5.5 Billion
dollar Trauma market. |
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