New Brunswick, New Jersey (ots/PRNewswire)
- Johnson & Johnson
(NYSE: JNJ) has been notified that the European Commission has
cleared its proposed acquisition of Guidant Corporation (NYSE: GDT).
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
United States. 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. The more than 200 Johnson & Johnson
operating companies employ approximately 113,800 men and women in 57
countries and sell products throughout the world.
(This press release contains "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995.
These statements are based on current expectations of future events.
If underlying assumptions prove inaccurate or unknown risks or
uncertainties materialize, actual results could vary materially from
the Company's expectations and projections. Risks and uncertainties
include general industry conditions and competition; economic
conditions, such as interest rate and currency exchange rate
fluctuations; technological advances and patents attained by
competitors; challenges inherent in new product development,
including obtaining regulatory approvals; domestic and foreign health
care reforms and governmental laws and regulations; and trends toward
health care cost containment. A further list and description of these
risks, uncertainties and other factors can be found in Exhibit 99(b)
of the Company's Annual Report on Form 10-K for the fiscal year ended
January 2, 2005. Copies of this Form 10-K, as well as subsequent
filings, are available online at www.sec.gov
or on request from the
Company. The Company assumes no obligation to update any
forward-looking statements as a result of new information or future
events or developments.)
For more information on Johnson & Johnson, please visit the
Company's website at http://www.jnj.com
Web site: http://www.jnj.com
ots Originaltext: Johnson & Johnson
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