J&J negotiating to buy Guidant for $24 billion

Johnson & Johnson is negotiating to buy Guidant for $24 billion. “The long-rumored talks could still fall apart over price and other issues, according to The New York Times. Shares of Guidant, which earned about $154 million on revenue of $925 million in the third quarter, rose $3.51, or 5.1%, to $72.26 Tuesday. Shares of J&J, which earned $2.07 billion on revenue of $11.6 billion in the same period, fell 91 cents, or 1.5%, to $60.92.

In Guidant, J&J would snag a fast-growing implantable cardioverter defibrillator (ICD) division that did $445 million in sales last quarter. It would also gain ownership of a big maker of so-called bare metal coronary stents, which have steadily lost market share to the drug-coated versions made by J&J and Boston Scientific (BSX:NYSE - news - research),” TheStreet.com reports.

 

Johnson & Johnson is negotiating to buy Guidant for $24 billion. “The long-rumored talks could still fall apart over price and other issues, according to The New York Times. Shares of Guidant, which earned about $154 million on revenue of $925 million in the third quarter, rose $3.51, or 5.1%, to $72.26 Tuesday. Shares of J&J, which earned $2.07 billion on revenue of $11.6 billion in the same period, fell 91 cents, or 1.5%, to $60.92.

In Guidant, J&J would snag a fast-growing implantable cardioverter defibrillator (ICD) division that did $445 million in sales last quarter. It would also gain ownership of a big maker of so-called bare metal coronary stents, which have steadily lost market share to the drug-coated versions made by J&J and Boston Scientific (BSX:NYSE - news - research),” TheStreet.com reports.

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