Johnson & Johnson to Acquire Conor Medsystems
I wanted to post about some pharmaceutical deals including the following.
PharmaLive: Johnson & Johnson Announces Definitive Agreement to Acquire Conor Medsystems, Inc.:
Conor Medsystems has a drug delivery system that is used in paclitaxel eluting stents. The acquisition is all cash and valued at $1.3 billion.
It should be noticed that the stents made by Conor Medsystems are NOT yet approved for use in the US but are approved in other countries.
J&J definitely wants to continue compete with Boston Scientific in the eluting stent area and this gives them several potential product that are fairly far along in development. This is likely a good deal for J&J but again, I question the high price.
Technorati Tags: Conor Medsystems, Johnson & Johnson, pharmaceutical deals
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