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news.The European Commission has given its go ahead for Johnson & Johnson's proposed acquisition of the medical products company Guidant Corporation.
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In conjunction with the Commission’s clearance, Johnson & Johnson has agreed to divest its Cordis steerable guidewires business in Europe and the Guidant Endovascular Solutions business in Europe. Remedies addressing overlap in the endoscopic vessel harvesting product lines are also being pursued.
The proposed transaction is also being reviewed by other regulatory authorities, including the Federal Trade Commission in the US. The Company expects a decision by the FTC in October. Johnson & Johnson also continues to work with Guidant to understand and evaluate the impacts of the various field actions announced by Guidant during the past several months.
Johnson & Johnson is the world’s most comprehensive and broadly based manufacturer of health care products, as well as a provider of related services, for the consumer, pharmaceutical, and medical devices and diagnostics markets.