Shares of Johnson & Johnson (NYSE:JNJ) ended Monday session in green amid volatile trading. The shares closed up +0.92 points or 0.78% at $118.49 with 6.96 million shares getting traded. Post opening the session at $117.50, the shares hit an intraday low of $117.50 and an intraday high of $118.55 and the price vacillated in this range throughout the day. The company has a market cap of $322.26 billion and the numbers of outstanding shares have been calculated to be 2.74 billion shares.
Johnson & Johnson (JNJ) announced a definitive agreement to acquire Abbott Medical Optics (AMO), a wholly-owned subsidiary of Abbott Laboratories, for $4.325 billion in cash. AMO reported sales of $1.1 billion for 2015. The acquisition will include ophthalmic products in three business segments: cataract surgery, laser refractive surgery and consumer eye health.
“Eye health is one of the largest, fastest growing and most underserved segments in health care,” said Ashley McEvoy, Company Group Chairman, responsible for Johnson & Johnson’s Vision Care Companies. “With the acquisition of Abbott Medical Optics’ strong and differentiated surgical ophthalmic portfolio, coupled with our world-leading ACUVUE® contact lens business, we will become a more broad-based leader in vision care. Importantly, with this acquisition we will enter cataract surgery – one of the most commonly performed surgeries and the number one cause of preventable blindness.”
Shares of Merck & Co., Inc. (NYSE:MRK) ended Monday session in red amid volatile trading. The shares closed down -0.62 points or -1.00% at $61.52 with 13.05 million shares getting traded. Post opening the session at $62.05, the shares hit an intraday low of $60.80 and an intraday high of $62.05 and the price vacillated in this range throughout the day. The company has a market cap of $169.11 billion and the numbers of outstanding shares have been calculated to be 2.77 billion shares.
Merck & Co., Inc. (MRK) announced that Merck Research Laboratories (MRL) facilities in Rahway, N.J., and West Point, Pa., have been designated as “Milestones in Microbiology” sites by the American Society for Microbiology (ASM) for their contributions to anti-infectives and vaccines, respectively. This is the first time a biopharmaceutical company has received this recognition. The ASM Milestones in Microbiology program recognizes institutions and scientists that have made significant contributions toward advancing the science of microbiology.
“Merck is honored to be the first biopharmaceutical company to receive this recognition from the American Society for Microbiology as we celebrate our 125th anniversary,” said Dr. Roger M. Perlmutter, president, Merck Research Laboratories. “We are proud of our legacy of antimicrobial research and remain steadfast in our commitment to treating and preventing infectious diseases.”