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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.

Johnson & Johnson Chairman and CEO Alex Gorsky Takes the #EmbracingSustainability Challenge

A new Business Roundtable campaign is challenging America's top CEOs to shine a light on how they're doing their part to help improve the health of the environment.

Originally Published by Johnson & Johnson.

For more than 130 years, Johnson & Johnson has made it a mission to help keep people healthy. And since human health and environmental health are inextricably linked, the company is dedicated to helping keep the planet healthy, too.

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REUTERS

Originally Published by Johnson & Johnson.

Johnson & Johnson Consumer, Inc. announced the company is joining an ambitious effort to move the world closer to a circular economy in which plastic never becomes waste. Together with the Ellen MacArthur Foundation, the UN Environment Programme, and many industry-leading companies, governments, and NGOs this commitment will strive to meet goals to tackle one of the most urgent environmental issues of our time: plastic waste and the necessity of consumer packaging reform.

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Scientists Name Abbott a Top Workplace

The results are in: Abbott's a top 20 workplace for scientists.

Originally Published by Abbott.

What do scientists at Abbott do?

They create tiny, life-saving devices for baby's hearts, seek out neurons that cause Parkinson's and develop tests for Zika. They invent wearable sensors that eliminate the need for painful fingerpricks for people with diabetes. They drive breakthroughs in infant formula and make it possible to test half the world's blood supply.

They are our superheroes. And today, they've named us one of theirs.

After Science Magazine surveyed scientists at biotech companies around the world – ranking each on 23 characteristics from financial strength to having a research-driven environment – Abbott has landed for the 15th year on its Top Employers list.

The Brighton Consulting Group independently evaluated each company's employer reputation score, considering factors such as whether it treats its employees with respect and whether its work-culture values align with employees' personal values.

One of the coolest things about being a scientist at Abbott is we have tracks for both management – and science. You can continue to climb while never giving up the research you love, or you can choose to take a management track and lead a team. There are paths for advancement for both.

Last year alone, we launched more than 20 life-changing technologies around the globe. We do work that matters.

Janssen Announces New Three-Year TREMFYA Data Demonstrates Stably Maintained Rates of Skin Clearance in Patients with Moderate to Severe Plaque Psoriasis

At the three-year mark, patients receiving TREMFYA in clinical studies continue to show stably maintained PASI 90 and IGA 0/1 responses.

REUTERS

Originally Published by Johnson & Johnson.

The Janssen Pharmaceutical Companies of Johnson & Johnson announced new long-term data from the open-label period of the VOYAGE 1 clinical trial demonstrating that stably maintained rates of skin clearance with TREMFYA® treatment achieved from week 52 (1 year) were maintained through week 156 (3 years) among adult patients with moderate to severe plaque psoriasis. TREMFYA® is the first anti-interleukin (IL)-23 monoclonal antibody that was approved by the U.S. Food and Drug Administration (FDA) and is administered by subcutaneous injection. The findings, presented at the 37th Fall Clinical Dermatology Conference in Las Vegas, Nevada, showed nearly 83 percent of patients receiving TREMFYA® in the Phase 3 VOYAGE 1 study maintained at least a 90 percent improvement in the Psoriasis Area Severity Index (PASI 90) response (near complete skin clearance), and an Investigator's Global Assessment (IGA) score of cleared (0) or minimal disease (1) at week 156.

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Abbott: Partnering for a Healthier Future

Abbott supports the First Ladies of Africa in the fight to end AIDS in children and keep mothers healthy.

Originally Published by Abbott.

In countries around the world, Abbott is working across its businesses and in partnerships with others to create healthier futures for families. One example: since 2014, Abbott's diagnostics business has supported the work of the Organization of African First Ladies Against HIV/AIDS (OAFLA – pictured above) to fight the AIDS epidemic in Africa, particularly among pregnant women and children – who are among the most vulnerable populations impacted by the disease.

At an OAFLA meeting on the sidelines of the UN General Assembly in New York City, Abbott and several other organizations are being recognized by OAFLA for longstanding partnership and support, including public-private partnerships that bring together technical, financial and other resources to focus on a global health challenge such as HIV/AIDS.

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Johnson & Johnson: Nurse Innovators: The Change Agents of Healthcare

The launch of Campaign for Nursing's Future more than a decade ago helped address a dire nursing shortage. Now it wants to inspire nurses to be medical trailblazers.

REUTERS

Originally Pubished by Johnson & Johnson.

By Magdalena Puniewska

What words come to mind when you hear "nurse"?

Is it terms like "compassionate," "kind" and "comforting"? All of these are apt ways to describe the work that nurses do each and every day. But chances are you likely didn't think: "innovative."

Yet that's exactly what many nurses are—often unsung innovators. And Johnson & Johnson wants to help change that.

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Where Will the Next Big Idea in Healthcare Come From? Johnson & Johnson is Counting on Nurses.

Johnson & Johnson Launches Nurses Innovate QuickFire Challenge to Bring Nurses' Ideas to Life.

REUTERS

Originally Published by Johnson & Johnson.

There's a reason the saying goes, "nurse someone back to health." Throughout history, nurses have been important facilitators of health – caring for the sick when others would not, identifying smarter and better ways to heal and developing life-saving methods.

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Johnson & Johnson Announces 10-year Initiative to Help End Tuberculosis, the World's #1 Infectious Killer

J&J's goal is to save an estimated 1.8 million lives and prevent 12 million new TB infections.

REUTERS

Originally Published by Johnson & Johnson.

Ahead of the first-ever United Nations (UN) High-Level Meeting on Tuberculosis (TB), Johnson & Johnson yesterday announced a comprehensive 10-year initiative in support of the United Nations Sustainable Development Goal target of ending the TB pandemic by 2030. With the goal of saving an estimated 1.8 million lives and preventing 12 million new TB infections in the next decade, Johnson & Johnson will work with partners to improve detection of undiagnosed casesof TB, broaden access to its novel medicine for multidrug-resistant TB (MDR-TB), and accelerate research & development (R&D) to discover next-generation TB treatments.

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