• / Free eNewsletters & Magazine
  • / My Account
Home>Johnson & Johnson's Animas to close operations, exit the insulin pump business

Johnson & Johnson's Animas to close operations, exit the insulin pump business

Johnson & Johnson's Animas to close operations, exit the insulin pump business

10/05/2017

Johnson & Johnson's Animas Corp. said Thursday it plans to close operations and exit the insulin pump business. The company will discontinue the manufacturing and sale of its Animas, Vibe and OneTouch Ping insulin pumps. Animas said Medtronic PLC (MDT) will help facilitate a transition for the 90,000 patients who use Animas pumps, and who will be offered the option to transfer to a Medtronic pump. Animas employs 410 people around the world. The move comes as part of J&J's strategic review announced in January, in which it is continuing to evaluate options for LifeScan, a blood glucose monitoring company with the OneTouch brand of products. J&J's stock was inactive in premarket trade. It has slipped 0.6% over the past three months, while the SPDR Health Care Select Sector ETF (XLV) has gained 3.9% and the S&P 500 has advanced 4.3%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

 

(END) Dow Jones Newswires

10-05-17 0712ET

Copyright (c) 2017 Dow Jones & Company, Inc.

1

©2017 Morningstar Advisor. All right reserved.