UnitedHealth Finalizes Amil Purchase, Johnson & Johnson’s Huge Recall: Healthcare Business Update
UnitedHealth Group (NYSE:UNH) finalizes its $4.9B acquisition of around 60 perecnt of Amil (AMPIF.PK) from controlling shareholders and management, subsequent to Brazil’s ANS regulatory agency approval of the transaction without conditions. The buyer anticipates making a tender offer for the 30 percent of Amil shares held by public stockholders in the first quarter of next year.
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Watson Pharmaceuticals (NYSE:WPI) divests its Rugby OTC pharmaceutical products and trademarks to The Harvard Drug Group for a price of about $117 million. The portfolio that was sold includes in excess of 250 allergy, cough and cold, nausea relief, pain relief, nicotine gum, vitamin and nutritional supplement products, marketed through a myriad of healthcare outlets nationwide. The transaction was okayed by the FDA on October 19th.
Johnson & Johnson (NYSE:JNJ) announced the recall of more than 157,000 surgical stapler devices and accessories used in hemorrhoid treatment procedures because of potential malfunctions that pose a significant safety risk. According to the FDA, use of the recalled devices could cause serious adverse health consequences, including death, and the agency has assigned its most serious classification, Class 1, to the recall last week.