Johnson & Johnson (JNJ) Dumps Wrist Device IP to Clear Way for $21 Billion Synthes, Inc. (SYST) Buy
6/12/2012 8:27:03 AM
Johnson & Johnson has won U.S. antitrust approval to buy Swiss medical device company Synthes Inc if it sells some assets, the Federal Trade Commission said on Monday. Johnson & Johnson will sell its system for surgically treating serious wrist fractures, and related assets, to Biomet Inc as a requirement for approval, the FTC said. European antitrust officials approved Johnson & Johnson's deal to buy Synthes, valued at about $21 billion, on April 19. Johnson & Johnson and Synthes together have about 70 percent of the market for plating systems used to surgically repair fractures in the radius bone nearest the wrist, the FTC said.