Chinese interest in the J&J unit comes as the market for diabetes care in China is expected to grow rapidly.
HONG KONG (Reuters) - Chinese bidders are circling a diabetes care business owned by the world’s largest healthcare company Johnson & Johnson in a deal that could fetch up to $4 billion, five people with direct knowledge told Reuters.
New Brunswick, N.J.-based J&J said in January last year it was evaluating options for its diabetes care companies, specifically LifeScan, Animas, and Calibra Medical. One option was a sale of the business, it said.
Chinese interest in the J&J unit comes as the market for diabetes care in China is expected to grow rapidly. Almost one in three of the world’s diabetes sufferers lives in China, according to World Health Organization estimates.
