Health & Fitness

J&J’s nearly $17 billion offer to buy a heart pump maker goes right to why we own it

Johnson & Johnson headquarters in New Brunswick, N.J.

Mel Evans | AP

Johnson & Johnson‘s (JNJ) $16.6 billion deal to buy heart pump maker Abiomed (ABMD) will bolster its pharmaceutical and medical device business ahead of J&J’s plans to separate its consumer division into a separate company. The Abiomed acquisition is set to close at the end of the first quarter of 2023. The spin-off of J&J’s consumer business, including such brands as Band-Aid and Tylenol, is expected in November of next year.

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