A big development in the diagnostics industry emerged in Johnson & Johnson's heavy stream of earnings news today. The healthcare giant ($JNJ) is mulling options for its Ortho Clinical Diagnostics business, as CEO Alex Gorsky moves to emphasize the company's best prospects for growth.
Johnson & Johnson paid a pretty penny for orthopedics giant Synthes, but last year's $21.3 billion acquisition made quite a mark on the company's annual report, as J&J posted 6.4% revenue growth in its devices division and a 34.3% jump in its ortho business.
Johnson & Johnson's $21.3 billion Synthes acquisition is starting to pay off, as the company reported a 12.5% third-quarter increase in medical device sales due largely to its fresh-bought orthopedics offerings.
Now that they've completed their stints in federal prison, four former Synthes executives have been essentially banished from the healthcare industry for their roles in the Norian bone cement scandal that left three dead.
Johnson & Johnson's Synthes unit launched a recall of its Hemostatic Bone Putty, warning that the implant could catch fire if exposed to cautery systems during surgery, and the FDA has slapped its most serious label on the affair.
Biomet has begun a gradual process to complete its $280 million cash bid of the global trauma business of DePuy Orthopaedics, a Johnson & Johnson-owned ($JNJ) company.
Johnson & Johnson's ($JNJ) $21.3 billion bid to buy Swiss orthopedic device maker Synthes is finally reaching the regulatory finish line.
It took a year after the initial announcement, but Johnson & Johnson ($JNJ) finally gained European regulatory approval for its $21.3 billion bid to buy Synthes.
Synthes is fighting an ex-employee in court alleging, among other things, illegal use of proprietary information. This week, he's fighting back.
Synthes has been producing rods, power tools and screws for orthopedics for years. But now the FDA is putting the screws to Synthes.