Navigation Links
Johnson & Johnson Announces Definitive Agreement to Acquire Omrix
Date:11/24/2008

tions. The $358 million estimated net value of the transaction is based on Omrix's 17.5 million fully diluted shares outstanding, net of estimated cash on hand at time of closing. The boards of directors of Johnson & Johnson and Omrix have approved the transaction. In addition, Robert Taub, Omrix's Founder and Chief Executive Officer, and entities controlled by Robert Taub, have agreed to tender approximately 16% of Omrix's outstanding shares in the tender offer.

Alex Gorsky, Company Group Chairman for Johnson & Johnson with responsibility for the ETHICON business worldwide, said, "Our partnership with Omrix has already expanded our capacity to provide innovative, next generation products that raise the standard of surgical care. We believe this transaction will further enhance our efforts to bring new, science-based products to patients and the healthcare professionals who treat them."

"We are delighted to announce this transaction, which combines Omrix's expertise in developing innovative biological products with ETHICON's commercialization expertise and global reach. We believe this merger is in the best interest of Omrix's shareholders, customers and employees," commented Robert Taub. "Omrix and ETHICON have enjoyed a solid partnership for the past five years. As a formally unified entity, our successful distribution and development agreements will evolve into an even more attractive long-term growth strategy. Omrix's Israeli-based manufacturing and research & development expertise will be strengthened by the long-term stability and integration that this merger will create."

Assuming this transaction closes in 2008, Johnson & Johnson is expected to incur an estimated one-time, after-tax charge of approximately $120 million reflecting the write-off of in-process research and development charges (IPR&D). The acquisition is expected to be breakeven to slightly dilutive to Johnso
'/>"/>

SOURCE Johnson & Johnson
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5

Related biology technology :

1. Legendary Earvin Magic Johnson Joins AFL/Signalife Cardiovascular Protection Team
2. Angiotech reaches agreement with Johnson & Johnson to settle outstanding patent litigation
3. Morria Biopharmaceuticals Plc Appoints Dr. Johnson Lau and Dr. David Sidransky to Board of Directors
4. Entry of Biogenerics and Decreasing Use of Amgens Epogen and Johnson & Johnsons Procrit Will Cause a $2.8 Billion Decline in the Drug Market for Chemotherapy-Induced Anemia by 2016
5. Johnson & Johnson Announces Changes to Accelerate Growth
6. Drugs from Johnson & Johnson/Basilea and Forest Are the Most Promising Antibiotics in the Community-Acquired Pneumonia Pipeline
7. Two-time Defending NASCAR Sprint Cup Series Champion Jimmie Johnson Joins the Team at CORD:USE Cord Blood Bank to Help Win the Race for Life
8. MultiVu Video Feed: Johnson & Johnson Diabetes Institute, LLC Launches New Training Center to Improve Community-Based Diabetes Care
9. Ortho Biotech Oncology Research & Development Unites Johnson & Johnson Biopharmaceutical Oncology R&D Assets
10. Craig Johnson Joins Ardea Biosciences Board of Directors
11. Migenix averts proxy contest; reaches agreement with DJohnson holdings
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/17/2014)... Oct. 16—As in Alice,s journey through the looking-glass to ... in surprising and unexpected ways, including a new class ... As reported today in The Optical Society,s (OSA) new ... demonstrated, for the first time, a new type of ... instead reflects infrared light by using an unusual magnetic ...
(Date:10/17/2014)... Horsham, PA (PRWEB) October 17, 2014 ... is being called upon by health facilities around ... exposed patients are being treated. Among the many ... used includes Texas Health Presbyterian Hospital Dallas and ... Center. The state-of-the-art vapor-producing robots have been utilized ...
(Date:10/17/2014)... (PRWEB) October 17, 2014 The Europe ... additives market in Europe with analysis and forecast of ... Fuel Additives Market report, to get an idea of ... of the segmentation in the European fuel additives market, ... , http://www.micromarketmonitor.com/market/europe-fuel-additives-5379768082.html , Fuel additives are chemicals ...
(Date:10/17/2014)... The Middle East and Africa Location Based Services (LBS) market ... East and Africa with analysis and forecast of revenue. This ... to $3,403.1 million by 2019, at a CAGR of 38.5% ... the Middle East and Africa Location Based Services (LBS) market ... It also provides a glimpse of the market segmentation, and ...
Breaking Biology Technology:Magnetic mirrors enable new technologies by reflecting light in uncanny ways 2Magnetic mirrors enable new technologies by reflecting light in uncanny ways 3Magnetic mirrors enable new technologies by reflecting light in uncanny ways 4Bioquell’s Vapor Producing Robots Selected to Combat Ebola in Hospitals Around the World 2Bioquell’s Vapor Producing Robots Selected to Combat Ebola in Hospitals Around the World 3Bioquell’s Vapor Producing Robots Selected to Combat Ebola in Hospitals Around the World 4Bioquell’s Vapor Producing Robots Selected to Combat Ebola in Hospitals Around the World 5Bioquell’s Vapor Producing Robots Selected to Combat Ebola in Hospitals Around the World 6The Europe Fuel Additives Market is estimated to grow to $1,401.4 million by 2018 - New Report by MicroMarket Monitor 2The Europe Fuel Additives Market is estimated to grow to $1,401.4 million by 2018 - New Report by MicroMarket Monitor 3The Europe Fuel Additives Market is estimated to grow to $1,401.4 million by 2018 - New Report by MicroMarket Monitor 4The Middle East and Africa Location Based Services (LBS) market is estimated to reach $3,403.1 million by 2019 - New Report by MicroMarket Monitor 2The Middle East and Africa Location Based Services (LBS) market is estimated to reach $3,403.1 million by 2019 - New Report by MicroMarket Monitor 3The Middle East and Africa Location Based Services (LBS) market is estimated to reach $3,403.1 million by 2019 - New Report by MicroMarket Monitor 4
... CITY , Jan. 22 /PRNewswire-FirstCall/ - Æterna Zentaris ... late-stage drug development company specialized in oncology and endocrinology, today ... received a letter from the Listing Qualifications Department of The ... of its common shares had fallen below US$1.00 ...
... , Twenty leading US research ... benefits of NIH funding through the 2009 Recovery and Reinvestment ... In advance of the one-year anniversary of the Recovery ... of the nation,s leading research institutions, patient advocates and biomedical ...
... ... is excited to announce its latest product offering, PrescriberPRO Mobile. ,PrescriberPRO Mobile ... Solutions’ full database of over 1,000,000 medical prescribers. The application will provide names, ... the United States. , ...
Cached Biology Technology:Æterna Zentaris Receives NASDAQ Notification Related to Minimum Bid Price 2Æterna Zentaris Receives NASDAQ Notification Related to Minimum Bid Price 3A Recovery Act Success Story: NIH Funding of Biomedical Innovation Is Creating Jobs, Fueling Industry Growth, and Helping Reduce Long-term Health Care Costs 2A Recovery Act Success Story: NIH Funding of Biomedical Innovation Is Creating Jobs, Fueling Industry Growth, and Helping Reduce Long-term Health Care Costs 3Healthcare Data Solutions Announces New Mobile Application, PrescriberPRO Mobile 2Healthcare Data Solutions Announces New Mobile Application, PrescriberPRO Mobile 3
(Date:10/18/2014)... for evaluation of suspected genetic conditions, whole-exome sequencing ... including detection of a number of rare genetic ... to a study appearing in JAMA . ... the American Society of Human Genetics annual meeting. ... regions of thousands of genes simultaneously using next-generation ...
(Date:10/17/2014)... shown for the first time how bacteria can grow ... them the opportunity to get tremendous insights into bacteria ... also discovered the bacterial growth in chronic lung infections ... down by the immune cells. The researchers discovered the ... the bacteria, forcing the bacteria to switch to a ...
(Date:10/16/2014)... Washington land managers have a new synthesis of recent ... mixed-conifer (MMC) forests in the two states. , ... Eastern Oregon and Washington: A Synthesis of the Relevant ... general technical report published by the U.S. Forest Service,s ... a request from managers for a synthesis of the ...
Breaking Biology News(10 mins):Whole-exome sequencing shows potential as diagnostic tool 2Scientists opens black box on bacterial growth in cystic fibrosis lung infection 2New report synthesizes best available science on management of moist mixed-conifer forests 2
... obesity and associated diseases -- and fiery debates about the ... identified a new genetic mechanism that controls the body,s fat-building ... treatments for obesity and type 2 diabetes, and it has ... dramatically cut health care costs. A research team led ...
... research developed by a scientist at The University ... selected for funding by a National Institutes of ... investigations. Valentin Dragoi, Ph.D., assistant professor of ... at Houston, has been awarded a four-year, $1.2 ...
... Calif.) Scientists at UC Santa Barbara have discovered a ... mechanism for delivery of nanoparticles into tissue. The results are ... of Sciences . "This work is important because when ... blood stream, but often doesn,t get into the tissue," said ...
Cached Biology News:UCF discovery could open door to obesity, diabetes treatments 2UT's Valentin Dragoi gets $1.2 million grant for groundbreaking approach to brain research 2UT's Valentin Dragoi gets $1.2 million grant for groundbreaking approach to brain research 3