: Johnson & Johnson buys medical device maker Laminar, cuts full-year earnings guidance
Johnson & Johnson JNJ said Thursday that its medical technology segment has acquired medical device maker Laminar Inc. in a deal that will reduce its full-year 2023 and 2024 earnings per share. The company said it paid $400 million up front for the privately held Laminar, which makes devices for patients with non-valvular atrial fibrillation, a condition that raises patients’ risk of having a stroke. The deal includes potential clinical and regulatory milestone payments in 2024 and beyond, Johnson & Johnson said in a release. As a result of the acquisition, Johnson & Johnson said it is cutting its full-year 2023 adjusted earnings per share guidance by 17 cents, to a range of $9.90 to $9.96. The deal is also expected to to reduce fiscal 2024 earnings per share by about 15 cents, the company said. Johnson & Johnson shares were down about 0.1% premarket on Thursday and have dropped 13.9% in the year to date, while the S&P 500 SPX has gained 18.5%.
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