Johnson & Johnson Acquires Medical Device Maker Laminar Inc.


Johnson & Johnson has announced that its medical technology segment has completed the acquisition of Laminar Inc., a leading medical device maker. The deal, valued at $400 million, involves an upfront payment and potential milestone payments in the future.

Laminar Inc. specializes in producing devices for patients with non-valvular atrial fibrillation, a condition that significantly increases the risk of stroke. By acquiring Laminar, Johnson & Johnson aims to enhance its product portfolio and strengthen its position in the medical device market.

As a result of the acquisition, Johnson & Johnson has adjusted its earnings per share guidance for full-year 2023 and 2024. The company anticipates a reduction of 17 cents in adjusted earnings per share for 2023, with a new range of $9.90 to $9.96. Additionally, it expects a decrease of approximately 15 cents in earnings per share for fiscal year 2024.

While this acquisition presents promising opportunities for Johnson & Johnson in the long term, it has influenced the company’s stock performance. Pre-market trading showed a marginal decline of 0.1% in Johnson & Johnson shares on Thursday. Year to date, the company’s stock has experienced a decrease of 13.9%, contrasting with the S&P 500’s significant gain of 18.5%.

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Post

A Gloomy Forecast for U.S. Stocks in 2024

Next Post

Genesco’s Profit Outlook and Sales Drop in Third Quarter

Related Posts