Johnson & Johnson Weighs Options for Diabetic-Care Subsidiary in West Chester

By

The Animas Vibe glucose monitoring system.

animasJohnson & Johnson is currently weighing strategic options for the future of its diabetic-care companies, including West Chester’s Animas, writes John George for the Philadelphia Business Journal.

Animas, which produces and markets insulin pumps and other devices to help diabetics, recently worked on a project with the Juvenile Diabetes Research Foundation to develop an artificial pancreas system for Type 1 diabetes patients.

Animas was founded two decades ago by Dr. Katherine Crothall. The company that went public in 2004 with a $63.4 million initial public stock offering was acquired by Johnson & Johnson two years later for $518 million.

According to Johnson & Johnson, some of the options being considered are the formation of operating partnerships, strategic alliances, or joint ventures and potentially selling some of its businesses.

“All options will be evaluated to determine the best opportunity to drive future growth and maximize shareholder value,” the company said in a statement.

However, Alex Gorsky, Johnson & Johnson’s chairman and CEO, said that the company has no plans to divest its billion-dollar diabetes medicine, Invokana.

“We still are very interested in diabetes,” he said.

Read more about the company’s plans in the Philadelphia Business Journal here.

Connect With Your Community

Subscribe to stay informed!

"*" indicates required fields

Hidden
VT Yes
This field is for validation purposes and should be left unchanged.
Advertisement
Creative Capital logo