Johnson & Johnson Inc. (JNJ) has made a trio of moves, one designed to clip costs, the other two targeted at increasing profits.
The pharma behemoth announced earlier this month it was scrapping its Animas insulin pump business after competitive shifts in the market impacted Animas. According to state records in Pennsylvania, the company filed a WARN notice that intended to shed 297 employees from its Wayne and West Chester facilities. The layoffs are effective Dec. 15.
J&J purchased Animas for $518 million in 2005 but in January the company said it was considering its options where its diabetes business was concerned. Other Johnson & Johnson diabetes brands include Calibra Medical's insulin patch and LifeScan blood glucose monitor.
Surgical Process Institute is now part of the J&J family after a transaction in which the details were not released. Surgical Process is a German company focused on organizing best practices for medical teams including communications between doctors and nurses. But the Surgical Procedure Manager unit is likely the most important take on the acquisition.
The software is designed to give surgical teams a practical checklist to use as a surgical map to ensure that the procedure is a step-by-step process in an attempt to reduce risks. J&J plans to roll the product out in Europe next year and introduce it into select markets with a possible global sale push in 2019.
Sandi Peterson, group worldwide chair for the company said the acquisition will help surgical teams perform at a higher level. "SPI's unique offerings have been shown to reduce surgery variability and the time spent in the operating room," said a statement. "These new digital tools will allow us to deliver a more comprehensive and effective solution to our customers and help them continue to improve patient care."
That deal should close before the end of the year.
And Johnson & Johnson's biotech arm, Janssen Pharmaceuticals Inc., will join with Arcturus Therapeutics Inc. to lend a hand in its development of a platform for treating hepatitis B.
Though the terms of the agreement were not made public, Arcturus will receive an upfront payment as well as royalties should a product emerge and gain FDA approval.
Arcturus has been working to develop its UNA Oligomer and LUNAR lipid-mediated platform. It entered into a reverse merger with Nasdaq listed Alcobra Ltd. (ADHD) in order to access public capital markets and advance that platform.
San Diego-based Arcturus was well known to J&J as it participated in Johnson & Johnson's JLABS incubator. J&J 's move into developing hepatitis B drugs follows an announcement last month that it was done pursuing treatments for hepatitis C and walking away from collaborations with Swedish biotech Medivir AB and Achillion Pharmaceuticals Inc. (ACHN) .