J&J looks to gain Mentor
02 Dec 2008
Johnson & Johnson (J&J) has signed a definitive agreement to acquire Mentor, a company specialising in aesthetic medical products.
Under the terms of the deal - subject to antitrust legislation - the drugs giant is set to purchase the firm for $1.07 billion (£722 million).
It is understood that Mentor will operate as a stand-alone business reporting through Ethicon.
Josh Levine, president and chief executive officer of Mentor, said his company and Ethicon share the same values of "commercial market leadership, the commitment to developing innovative, science-based products, and unwavering service to physicians and patients".
Alex Gorsky, company group chairman for J&J with worldwide responsibility for the Ethicon business, said the move "expands our capacity to provide physicians with products that can restore patients' appearance, self-esteem and quality of life".
J&J recently revealed it had commenced a tender offer to Omrix Biopharmaceuticals.
If that deal is finalised, Omrix will also operate as a stand-alone entity reporting through Ethicon.
