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

May 15, 2022

Novo Nordisk and Flagship Pioneering announce a strategic collaboration to create a portfolio of transformational medicines

Life sciences

The companies will explore opportunities to apply Flagship’s innovative bioplatforms – an ecosystem that currently comprises 41 companies – to scientific challenges in disease areas within cardiometabolic and rare diseases and initiate research programmes based on these.

May 15, 2022

BD, Babson set sights on bringing simple blood collection into the home

Life sciences

BD is expanding its long-running partnership with the blood collection company Babson Diagnostics. The two companies have been working together since 2019 on a device that can gather small volumes of blood from the capillaries in the fingertip without requiring any specialized training, and beginning with a focus on supporting primary care in retail settings.

May 15, 2022

CSL’s $11.7B Vifor buy, 2021’s biggest biopharma M&A deal, hits antitrust delay

Life sciences

Wednesday, Australian biotech CSL said (PDF) the regulatory review of its $11.7 billion acquisition of Switzerland’s Vifor Pharma will take “a few more months,” suggesting it won’t be able to close the transaction by June 2022 as previously expected.