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)

Related News

June 19, 2021

P&G-backed Kindra to tap into overlooked menopause sector after landing US$4.5M

Life sciences

Kindra has closed a US$4.5 million seed funding round to expand and grow its menopause offerings. The US-based brand, which is backed by P&G Ventures, aims to drive a cultural shift around menopause, which has been “long overlooked.”

June 19, 2021

Johnson & Johnson among companies excluding Colorado residents from remote job openings after new state law

Life sciences

Colorado established a new law this year requiring companies to divulge a salary range on job postings. But some large companies, like Johnson & Johnson, McKesson and Cardinal Health, have responded by barring candidates from the state.

June 19, 2021

Former Emisphere investors sue over ‘ill-timed’ $1.8B sale to Novo Nordisk

Life sciences

Former Emisphere stockholder IsZo Capital is one of several parties seeking damages against controlling stockholder MHR Fund Management for allegedly “co-opting” the drug delivery specialist’s board and forcing an “ill-timed” sale to Novo Nordisk at an “artificially low price,” a new lawsuit says.

Send this to a friend