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Synthes

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BUSINESS
November 14, 2007 | By Linda Loyd INQUIRER STAFF WRITER
Synthes Inc., the world's No. 3 manufacturer of spinal-implant devices, said yesterday that it would buy a San Diego maker of spinal devices for $30 million, plus up to $45 million if certain development, regulatory and marketing milestones were reached. In addition, the private California firm, N Spine Inc., will receive an undisclosed share of future sales of its products. Synthes, with worldwide headquarters in West Chester, employs about 1,400 in Chester County, including in Brandywine, Paoli and West Chester.
BUSINESS
April 19, 2011 | By David Sell, Inquirer Staff Writer
The existence of talks aimed at a possible merger of Johnson & Johnson and Synthes was confirmed Monday by Synthes, which has major operations in Chester County. Synthes is a global manufacturer of medical devices with headquarters in Switzerland and West Chester and four facilities in West Chester and one in Paoli. The company is one of the dominant players in the field of repairing bones, especially in the spine and those broken by trauma. That means plates and screws, compounds, and medical power tools.
BUSINESS
June 7, 2011 | By David Sell, Inquirer Staff Writer
Attorneys for four local executives guilty in a case involving an illegal clinical trial of a bone cement in the spines of elderly patients - three of whom died - argued for leniency in federal court in Philadelphia on Monday. The former executives of the medical-device maker Synthes Inc. in West Chester pleaded guilty in 2009 but say they were not intimately involved in testing the bone cement, according to their lawyers. "The evidence of intent is insufficient," said Adam S. Hoffinger, lead attorney for Thomas B. Higgins, one of the four former executives.
NEWS
October 4, 2010
A division of Synthes Inc., the world's largest maker of bone-related medical devices, has agreed to plead guilty to trying to circumvent the FDA and agreed to pay the maximum $22.5 million fine, the U.S. Attorney's Office in Philadelphia has announced. Norian Corp., a division of West Chester-based Synthes Inc., will plead to one felony count of conspiracy to impair and impede the lawful functions of the FDA, and 110 misdemeanor counts of shipping adulterated and misbranded Norian XR across state lines.
BUSINESS
April 28, 2011 | By David Sell, Inquirer Staff Writer
Health-care giant Johnson & Johnson and medical-device maker Synthes Inc. - both of which have large operations in the Philadelphia area - agreed to a $21.3 billion merger deal announced Wednesday. Johnson & Johnson Inc. hopes to fill a hole in its 250-company portfolio by adding a stronger device component and dominating that market. Synthes is a leader in the manufacture of devices that help treat bones with compounds, screws, nails, plates, and power tools. The deal is J&J's largest acquisition ever.
BUSINESS
July 9, 2011 | By David Sell, Inquirer Staff Writer
Synthes Inc. solicited bids from nine companies and then six private equity firms before agreeing to be bought by health-care giant Johnson & Johnson Inc. for $21.3 billion, according to a J&J filing with the Securities and Exchange Commission. Synthes is a global manufacturer of medical devices, with five facilities in Chester County, but its headquarters is in Switzerland and the company's shares trade on the Swiss stock exchange. The sale was announced April 27 of this year, which has prompted three lawsuits from Synthes shareholders hoping for more.
BUSINESS
May 26, 2011 | By David Sell, Inquirer Staff Writer
Without saying they approve or disapprove of such deals, the federal officials supervising the Synthes Inc. divestiture of its Norian subsidiary's assets have indicated - sort of - that Tuesday's $22 million sale to Exton-based Kensey Nash is acceptable. Synthes, the medical-device manufacturer near West Chester, had to shed its Norian assets as part of a plea bargain to settle criminal charges that it ran an illegal test market of the subsidiary's bone cement from 2002 to 2004.
NEWS
June 6, 2011 | By David Sell, INQUIRER STAFF WRITER
Attorneys for four local executives guilty in a case involving an illegal clinical trial of a bone cement in the spines of elderly patients - three of whom died - argued for leniency in federal court in Philadelphia Monday. The former executives of medical device maker Synthes Inc. in West Chester pleaded guilty in 2009, but say they were not intimately involved in testing the bone cement, according to their lawyers. "The evidence of intent is insufficient," said Adam S. Hoffinger, lead attorney for Thomas B. Higgins, one of the four former Synthes executives.
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BUSINESS
June 4, 2016 | By Linda Loyd, STAFF WRITER
Johnson & Johnson said Thursday its consumer products division will buy beauty products company Vogue International for $3.3 billion in cash. Vogue, in Clearwater, Fla., sells the OGX collection of shampoos, body care and bath products, and hair styling items under the FX brand, and the Proganix and Maui Moisture hair care products lines sold in the United States and 38 countries. The deal is expected to close in the third quarter. Johnson & Johnson Consumer Inc. is based in Skillman, N.J. J&J owns 250 companies worldwide, including McNeil Consumer Healthcare in Fort Washington and medical-device maker Synthes in West Chester.
NEWS
June 3, 2016 | By Linda Loyd, STAFF WRITER
A Johnson & Johnson diagnostic test that can detect the Ebola virus has been authorized by the U.S. Food and Drug Administration for emergency use when there is a suspected outbreak. The test, developed by J&J subsidiary Janssen Pharmaceutica and partner Biocartis NV in Belgium, detects the Ebola strain that caused more than 11,000 deaths in West Africa in 2014. Using only a few drops of blood, the test can distinguish Ebola from other fevers, such as malaria, in 100 minutes, said Janssen medical director Theresa Pattery.
BUSINESS
January 21, 2016 | By Joseph N. Distefano, Staff Writer
Johnson & Johnson plans to cut about 3,000 employees, or 1 in 20, from its global medical-device workforce in hopes of saving up to $1 billion in yearly costs. The drug and medical-supply company will use that money to invest in "new growth opportunities," J&J said Tuesday. In a statement to employees, J&J said the cuts would "accelerate its pace of innovation. " The company expects a pretax restructuring charge of up to $2.4 billion by 2018, including $600 million later this year.
BUSINESS
January 22, 2015 | By David Sell, Inquirer Staff Writer
Johnson & Johnson has been a long-term moneymaker, and it said Tuesday that its full-year profit for 2014 rose 18 percent, but the last few months were less profitable for the health-care giant. And it forecast declining profits in the near term because of price pressure on big-ticket drugs, stretched consumers, and tumult in world currency markets. Though consumer products are the smallest of its three divisions, the tumult in Fort Washington, site of the headquarters of J&J's McNeil Consumer Healthcare unit, might finally be nearing a regulatory end. But then, previous target dates have come and gone.
BUSINESS
June 18, 2014 | By David Sell, Inquirer Staff Writer
Medical device maker Medtronic said it would buy rival Covidien for close to $43 billion, which will help Medtronic challenge competitors such as New Brunswick, N.J.-based Johnson & Johnson and avoid paying some U.S. corporate taxes. Medtronic is headquartered in Minneapolis. Covidien's leadership operates from a Boston suburb, but it is officially registered in Ireland, which has much lower corporate taxes than the United States. Medtronic will keep operational control in Minneapolis, but officially register in Ireland and have relatively few employees there.
BUSINESS
April 26, 2013
In the Region   J&J taken to task by shareholders   Several Johnson & Johnson shareholders took the health-care giant to task during its annual meeting Thursday, citing repeated product recalls, ethical lapses, and excessive executive pay. CEO Alex Gorsky took it in stride, promising improvements and saying J&J was making progress in returning a "reliable supply" of products from its Fort Washington-based McNeil Consumer Healthcare...
BUSINESS
April 18, 2013 | By David Sell, Inquirer Staff Writer
Though its Fort Washington plant is still being repaired, and overall profit fell 10.6 percent to $3.5 billion in the first quarter of 2013, Johnson & Johnson said Tuesday that it has put more Tylenol and Motrin on store shelves in the United States through its McNeil Consumer Healthcare unit. "We are pleased with results in our consumer division, with over-the-counter sales in the U.S. up 14 percent," J&J chief financial officer Dominic Caruso said in a conference call with stock market analysts.
BUSINESS
January 24, 2013 | By David Sell, Inquirer Staff Writer
NEW YORK - Pharmaceutical companies are pleased that health-care reform means more patients have insurance and will be encouraged to take their medicine to avoid costly hospitalizations. But, as Johnson & Johnson chief executive officer Alex Gorsky said Tuesday, drugmakers want private insurers or government programs such as Medicare and Medicaid to pay them for those drugs at a prices closer to their choosing. "Be aware," Gorsky said, that cost-containment efforts must "ensure we continue to reward innovation," or risk not having new drugs to treat health problems.
BUSINESS
October 18, 2012 | By David Sell, Inquirer Staff Writer
Johnson & Johnson's third-quarter overall sales grew 6.5 percent and profits dropped 7.3 percent compared with the same period in 2011, as two of the health care giant's Philadelphia-area businesses were key elements in the good-and-bad financial picture. J&J is famous for Tylenol, Band-Aid bandages and shampoos, but this consumer segment is the last of the three divisions in sales, in part because the McNeil Consumer Healthcare facility in Fort Washington has been shut down since 2010, and the entire consumer unit is operating under legal restrictions.
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