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Abbott to Sell Abbott Medical Optics to Johnson & Johnson for $4.325 Billion

Abbott continues to shape its portfolio for long-term growth.

Abbott (No. 14 on the DiversityInc Top 50 Companies for Diversity list) has announced that it will sell Abbott Medical Optics, its vision care business, to Johnson & Johnson (No. 8) for $4.325 billion in cash.


"We've been actively and strategically shaping our portfolio, which has recently focused on developing leadership positions in cardiovascular devices and expanding diagnostics," said Miles D. White, chairman and chief executive officer, Abbott. "Our vision care business will be well-positioned for continued success and advancement with Johnson & Johnson, and I'd like to thank our employees for building a successful business."

Abbott's vision business has products in areas including cataract surgery, laser vision correction (LASIK) and corneal care products (contact solution, eye drops, etc.).

The net impact of this transaction is not expected to impact Abbott's overall targeted ongoing earnings per share in 2017. This targeted earnings per share excludes the expected gain on this transaction and any costs related to the transaction. The transaction is expected to close in the first quarter of 2017 and is subject to customary closing conditions, including regulatory approvals.

About Abbott:

Abbott is a global healthcare company devoted to improving life through the development of products and technologies that span the breadth of healthcare. With a portfolio of leading, science-based offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals, Abbott serves people in more than 150 countries and employs approximately 74,000 people.

Visit Abbott at www.abbott.com and connect with us on Twitter at @AbbottNews.

The Conversation

Why Johnson & Johnson Is on a Mission to Make Treating Pediatric Patients Safer

For Baby Safety Month, the company's Head of Pediatric Drug Development talks about the industry-leading Child Health Innovation Leadership Department.

REUTERS

Originally Published by Johnson & Johnson.

By Tamekia Reece

Ensuring the safety and well-being of children has been a cornerstone of Johnson & Johnson's work for over 100 years.

Today, the company helps provide treatments to millions of kids across the globe to address everything from tuberculosis to intestinal worm infections, so children can reach their full potential. It's just one facet of a larger commitment: help improve the health of future generations, or "GenH."

It's why Johnson & Johnson created the Child Health Innovation Leadership Department (CHILD), which is part of the company's Office of the Chief Medical Officer. The mission of CHILD is to help drive the creation of new and better policies around medical treatments for children, as well as uphold the safety and effectiveness of pediatric drugs.Another important facet of that commitment: help improve medical innovation for these little patients.

In honor of Baby Safety Month, we spoke to Samuel Maldonado, M.D., Head of Pediatric Drug Development and Vice President, Child Health Innovation Leadership Department, Johnson & Johnson, to learn more about the company's forward-thinking work for kids.

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Johnson & Johnson: Janssen Submits Esketamine Nasal Spray New Drug Application to U.S. FDA for Treatment-Resistant Depression

"Of the nearly 300 million people who suffer from major depressive disorder worldwide, about one-third do not respond to currently available treatments. This represents a major unmet public health need."

REUTERS

Originally Published by Johnson & Johnson.

The Janssen Pharmaceutical Companies of Johnson & Johnson (Janssen) announced the submission of a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for esketamine nasal spray. Janssen is seeking FDA approval of esketamine for treatment-resistant depression in adults.

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Johnson & Johnson: New National Survey Uncovers the Surprising Impact that Knee and Hip Pain Has on Women's Emotional Well-Being

Seventy-six percent of women surveyed agreed that the effects of their joint pain go far beyond mobility, impacting many aspects of their life.

REUTERS

Originally Published by Johnson & Johnson.

While many who suffer from knee or hip pain know that it impacts their everyday activities, results from a new survey show the significant emotional impact of joint pain. This includes impact on romantic and social relationships, ability to pursue hobbies and overall mood. The survey of more than 500 women ages 45-65, including those who have had joint replacement surgery and those planning to have joint replacement surgery, revealed:

  • 90 percent of respondents agree that they are not able to live life to the fullest because of their joint pain,
  • Nine out of 10 respondents say their joint pain negatively impacts their mood,
  • Two-thirds of the respondents have avoided a social situation because of joint pain,
  • More than half of respondents said their joint pain makes it personally challenging to feel like a part of the family,
  • 89 percent of respondents feel like they can participate in their life again after joint replacement surgery,
  • Two out of three respondents who had joint replacement surgery say their relationship with their spouse or partner improved, with 60 percent of respondents reporting improved intimacy.
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Abbott: Expediting Blood Testing With i-Stat

The portable, handheld i-STAT Alinity delivers quick blood test results anywhere you are.

Originally Published by Abbott.

Every day, countless blood samples are tested all around the world for one purpose: to help diagnose and treat medical conditions. From the couple eagerly awaiting the results of a pregnancy blood test to a worried cancer patient hoping for more answers, diagnostic blood tests give vital insight into what's happening underneath the skin.

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Is it Best for Couples Who Have Children with Disabilities to Divorce?

Some parents struggling to pay for health care are considering divorce so their child with a disability could receive Medicaid.

Jake and Maria Grey are considering ending their nine-year marriage to qualify for state aid. / WFAA screenshot

Parents of children with disabilities would be inclined to divorce each other to put their son or daughter in a better position to receive Medicaid. This is more common than you might think.

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Johnson & Johnson Announces Series of Collaborations Aimed at Transforming Mental Health Care in Low-Resource Settings

New pilot program in Rwanda aims to create an affordable, scalable quality care model for the treatment of severe mental illness in sub-Saharan Africa.

REUTERS

Originally Published by Johnson & Johnson.

Johnson & Johnson Services Inc. (Johnson & Johnson) announced a comprehensive partnership with the Government of Rwanda to significantly strengthen and expand access to quality mental health care in the country. The partnership, which is intended to be a demonstration pilot for sub-Saharan Africa, aims to show that it is possible to apply an affordable, scalable quality care model for the treatment of severe mental illness, specifically schizophrenia, in low- and middle-income countries, where the vast majority of patients lack access to treatment and care.

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Abbott: Freestyle Libre 14 Day, Now FDA Approved

Abbott's flash glucose monitor now FDA-approved for two weeks of use in U.S. between sensor changes.

Originally Published by Abbott.

The U.S. Food and Drug Administration has approved FreeStyle Libre 14 day— Abbott's revolutionary continuous glucose monitoring system. In the U.S., you can wear the sensor up to 14 days with high accuracy.

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Johnson & Johnson Consumer Inc. Announces Agreement to Acquire Zarbee's, Inc., a Leader in Naturally-Based Healthcare Products

Over the last decade, Zarbee's Naturals™ has grown into a broad-based health and wellness brand and has disrupted the cough, sleep, immune support and vitamin categories with its portfolio of family-friendly products.

REUTERS

Originally Published by Johnson & Johnson.

Johnson & Johnson Consumer Inc. announced that it has entered into a definitive agreement to acquire Zarbee's, Inc., a privately held company that is a leader in naturally-based healthcare products. The acquisition will include the full line of Zarbee's Naturals™ products for children and adults. Financial terms of the transaction were not disclosed.

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