Hints and tips:
...Before Alere, Mr Nawana spent more than 15 years at Johnson & Johnson, including time as president of its DePuy Synthes spine business....
...spokesperson for DePuy....
...Andrew Ekdahl, worldwide president of DePuy Synthes Joint Reconstruction, said: “The US settlement programme provides compensation for eligible patients without the delay and uncertainty of protracted litigation...
...Alex Gorsky, chairman and chief executive, said: “We delivered solid first-quarter results led by the success of many of our recently launched pharmaceutical products and the addition of Synthes to our orthopaedics...
...“Our third-quarter results reflected continued sales momentum driven by strong growth of key products, successful new product launches and the addition of Synthes to our family of companies,” Alex Gorsky...
...Alex Gorsky, J&J’s new chief executive, is under pressure to revive the company after a difficult stretch of embarrassing product recalls....
...The company is also facing an onslaught of lawsuits related to faulty hip implants produced by its DePuy unit....
...We see attractive risk/reward now on an inexpensive valuation, favourable currency, and new brand/product benefits to 2013 EPS,” wrote Mr Chen in a note to clients....
...DePuy, the division of J&J that Synthes would potentially join, made revenues of $5.6bn but supposedly lower profitability....
...Most subsequent deals have been more targeted on particular products or regions, such as Sanofi’s purchase of Genzyme in 2011, which specialises in “orphan diseases”; Johnson & Johnson’s purchase of Synthes...
...William Weldon, head of J&J, says ringingly of the accord: “DePuy and Synthes together will create the most innovative and comprehensive orthopaedics business in the world, and enable us to better serve...
...The UK’s Medicines and Healthcare Products Regulatory Agency, for example, was the first to identify problems with DePuy’s ASR artificial metal hips, triggering recalls in 2009 and 2010....
...The Swiss surgical products and medical services group Synthes has confirmed it was in takeover talks with Johnson & Johnson, reports the FT....
...Last year J&J took after-tax charges of $922m due to lawsuits related to its DePuy ASR replacement hip, which was recalled, and other product liabilities and litigation....
...J&J booked $271m of charges related to its DePuy ASR, a hip replacement which had to be recalled....
...Unlike the orthopaedic surgeons behind Synthes’s products, Mr Wyss studied engineering....
...And its spinal products business would help J&J edge closer to market leader Medtronic....
...The latest talks with J&J began last September, with the US group having emerged as the most suitable buyer, being big enough to afford the takeover and not so active in trauma products as to face serious...
...Shares in Synthes, the Swiss surgical products and medical services group, rose on Monday as it confirmed that it was in talks with Johnson & Johnson of the US....
...● FT comment Strong emerging markets growth, and a rebound on some US products, helped keep Smith & Nephew’s performance robust and explain its continued candidacy as a takeover target....
...Shares in Johnson & Johnson opened 1 per cent higher after Synthes, the Swiss surgical products and medical services group, confirmed that they were in deal talks....
...Smith & Nephew, which was trading ex-dividend, lost 1.7 per cent to 658½p after Swiss peer Synthes agreed to be bought by Johnson & Johnson....
...This was mainly due to a $922m charge related to the ASR hip recall from its DePuy subsidiary....
...Results from DePuy, Johnson & Johnson’s orthopaedics division, and Stryker, both highlighted slowing demand for replacement knees, an important product segment for S&N....
...We may also see Smith & Nephew seeking out a white knight approach from Biomet / Synthes or possibly private equity, but it is hard to see how any of these could outbid J&J....
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