Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Medtronic PLC    MDT   IE00BTN1Y115

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsSector newsTweets

Medtronic : J&J to close its Animas Corp. diabetes-care business in Chesterbrook

share with twitter share with LinkedIn share with facebook
share via e-mail
10/06/2017 | 03:37am CET

Oct. 05--Animas Corp., a Johnson & Johnson diabetes-care company in Chesterbrook, said Thursday that it plans to close operations and get out of the insulin-pump business.

About 90,000 patients using Animas pumps will be offered the option of transferring to pumps made by Medtronic PLC, the company said.

Animas employs 410 globally, about half of whom work in Chesterbrook and at a manufacturing plant in West Chester.

In January, Johnson & Johnson said it was evaluating strategic options, including the possible sale of some of its diabetes-care businesses. J&J said Thursday that it continues to review potential options for its blood-glucose monitoring business, LifeScan Inc.

Animas will stop selling the pumps, Animas Vibe and OneTouch Ping, in the United States and Canada, effective immediately. Operations in other countries will continue for a while, but eventually end, the company said.

"We will continue to operate certain functions of the business -- including manufacturing, customer and safety support, as examples -- for an indeterminate amount of time as we help our patients transition," said Bridget Doherty, spokeswoman for Animas. "Accordingly, we will provide support to impacted employees and their families through the transition.

"A decision and timing to exit markets outside of the U.S. and Canada is pending consultation with relevant works councils," she said.

Chesterbrook and West Chester will continue to operate for an "indeterminate amount of time to provide support for our current patients, help them transition, and to support the business outside the U.S. and Canada," she said.

Valerie Asbury, general manager of Animas, said: "With changing needs of customers, rapidly evolving market dynamics, and increased competitive pressures, it proved too difficult to sustain the insulin-pump business, and we decided to pursue an exit. This decision was extremely difficult and comes following the extensive exploration of all other viable options for the Animas business."

Animas said it will work with Medtronic as a "partner of choice" to help ensure a smooth transition for patients on insulin pumps.

In a statement late Thursday, JDRF, formerly known as the Juvenile Diabetes Research Foundation, said the Animas closing takes away choice for 1.25 million Americans with type 1 diabetes. Animas is the second-largest manufacturer of insulin pumps, after No. 1 Medtronic.

"It means fewer treatment options," said Derek Rapp, CEO of the nonprofit group. "Pump choice is critical, and people with type 1 diabetes need the ability to choose the devices that work best for them."

In a news release, J&J said it "remains committed to the prevention and treatment of diabetes," and will continue to serve patients through products from its medical-device, pharmaceuticals, and consumer businesses in areas such as bariatric surgery and medicines such as Invokana (canagliflozin) and Invokamet (canagliflozin/metformin HCI), which are used to treat type 2 diabetes.


(c)2017 Philly.com

Visit Philly.com at www.philly.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on MEDTRONIC PLC
04:52a MEDTRONIC : agrees to settlement with five states in Infuse case
12/12 MEDTRONIC : Announces Cash Dividend for Third Quarter of Fiscal Year 2018
12/12 65-- TITLE : Medtronic Situate Detection System X l Actionable Package 11/21/201..
12/12 MEDTRONIC PLC : Change in Directors or Principal Officers, Submission of Matters..
12/09 MEDTRONIC : Announces Cash Dividend for Third Quarter of FY 2018
12/08 MEDTRONIC : Announces Cash Dividend for Third Quarter of Fiscal Year 2018
12/07 MEDTRONIC : Intent to Sole Source - FA486118PB035
12/04 MEDTRONIC : Management's Discussion and Analysis of Financial Condition and Resu..
12/04 APPLE : Clinical trial puts Apple Watch's heart monitoring prowess to the test
12/04 MEDTRONIC : EVP & RTG President Geoff Martha to Speak at Citi Global Healthcare ..
More news
News from SeekingAlpha
04:07a YOUR DAILY PHARMA SCOOP : Right Time To Buy Regeneron, Eli Lilly Gives Guidance,..
12/13 I'm Sticking With CVS And Walgreens, My Last Two Losers
12/12 Premarket analyst action - healthcare
12/11 BECTON DICKINSON : A Fully Valued Healthcare Blue Chip Stock
12/04 My Dividend Growth Portfolio Update - 48 Holdings, 1 Buy
Financials ($)
Sales 2018 29 479 M
EBIT 2018 8 298 M
Net income 2018 5 343 M
Debt 2018 14 550 M
Yield 2018 2,25%
P/E ratio 2018 20,23
P/E ratio 2019 20,90
EV / Sales 2018 4,25x
EV / Sales 2019 4,03x
Capitalization 111 B
Duration : Period :
Medtronic PLC Technical Analysis Chart | MDT | IE00BTN1Y115 | 4-Traders
Technical analysis trends MEDTRONIC PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 90,2 $
Spread / Average Target 10%
EPS Revisions
Omar S. Ishrak Chairman & Chief Executive Officer
Mark Ploof Senior Vice President-Global Operations
Karen L. Parkhill Chief Financial Officer & Executive Vice President
Richard H. Anderson Lead Independent Director
Craig Arnold Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
MEDTRONIC PLC13.81%110 879
C R BARD INC48.14%24 200