Sector News

J&J seeking to divest manufacturing unit Noramco: sources

January 6, 2016
Life sciences

Johnson and Johnson is seeking to sell its manufacturer of active pharmaceutical ingredients, Noramco, in a move that could value the division at as much as $800 million, according to people familiar with the matter.

Noramco is attracting interest primarily from buyout firms, the people said this week. The unit has annual earnings before interest, taxes, depreciation and amortization of more than $70 million, some of the people added.

The sources asked not to be identified because the deliberations are confidential.

Representatives of Johnson & Johnson declined to comment.

Noramco manufactures the active ingredients in painkillers, including oxycodone.

Pharmaceutical M&A had its strongest year in history in 2015, and is expected to continue at a robust pace despite headwinds, including choppier valuations in the biotech space and unsteady credit markets.

(Reporting by Greg Roumeliotis and Carl O’Donnell in New York; Editing by Sandra Maler)

comments closed

Related News

September 25, 2022

Rise of the machines: Novo Nordisk pledges $200M to create first quantum computer for life sciences

Life sciences

Big Pharma has long seen the potential for AI and machine learning to accelerate drug development. But Novo Nordisk is going a step further by channeling $200 million toward the creation of a computer that will outrun anything in existence.

September 25, 2022

Mount Sinai AI uncovers new brain analysis method to predict dementia, Alzheimer’s disease

Life sciences

Current methods for diagnosing Alzheimer’s disease rely on a complex combination of self- and caregiver-reported symptoms, a physical examination and either a PET scan or a spinal tap to look for evidence of amyloid plaque build-ups in the brain. But a new artificial intelligence-based method may make the diagnostic process a much more objective one.

September 25, 2022

New AstraZeneca-backed report finds big money behind diverse owners and entrepreneurs in Europe

Life sciences

There is lots of talk about diversity and inclusion in business, including in pharma and medtech. A new report by the Open Political Economy Network (OPEN), a think tank focusing on migration and diversity, released its “Minority Businesses Matter: Europe” report highlighting the successes and challenges of ethnic minority-owned businesses in Europe.