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....
...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....
...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...
...The company took unspecified litigation charges, against a backdrop of continuing legal actions including compensation demands from users of its DePuy ASR artificial hip....
...DePuy, the division of J&J that Synthes would potentially join, made revenues of $5.6bn but supposedly lower profitability....
...Consolidation is intensifying, including Johnson & Johnson’s recent $21bn purchase of Synthes of Switzerland....
...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...
...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....
...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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