Hints and tips:
...He was global president of Johnson & Johnson’s DePuy Synthes Spine franchise. Willkie Farr & Gallagher has hired Caleb Vesey as a private equity partner in its Los Angeles office....
...Companies that show a willingness to innovate and present cleaner products to the market will get bonus points when it comes to state aid....
...Before Alere, Mr Nawana spent more than 15 years at Johnson & Johnson, including time as president of its DePuy Synthes spine business....
...DePuy Synthes was created following Johnson & Johnson’s $21.3bn takeover of Switzerland’s Synthes in 2012. The UK’s Smith & Nephew has mulled buying smaller rival NuVasive....
...Joe Walters, a fund manager at Royal London Asset Management, which owns shares in S&N, said the company needed to move away from lower growth products and increase sales in emerging markets....
...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....
...Beyond J&J’s image problems, Mr Gorsky said he will be working hard to integrate Synthes, the Swiss orthopaedic devices group that it acquired last year for $21.3bn....
...DePuy, the division of J&J that Synthes would potentially join, made revenues of $5.6bn but supposedly lower profitability....
...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....
...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 Swiss surgical products and medical services group Synthes has confirmed it was in takeover talks with Johnson & Johnson, reports the FT....
...J&J booked $271m of charges related to its DePuy ASR, a hip replacement which had to be recalled....
...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....
...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...
...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....
...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....
...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...
...● 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....
International Edition