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Chinese Medical Firm Eyes Johnson & Johnson Diabetes Unit

Johnson & Johnson’s diabetes business has been in decline since 2011. Revenue dropped 32% to $1.8 billion in 2016 from five years earlier. Photo: VCG
Johnson & Johnson’s diabetes business has been in decline since 2011. Revenue dropped 32% to $1.8 billion in 2016 from five years earlier. Photo: VCG

Chinese medical test-developer Sinocare Inc. has confirmed its interest in potentially acquiring Johnson & Johnson’s diabetes care unit.

The Shenzhen-listed company — which makes blood sugar monitoring systems — said it has hired agencies to study a possible deal, but that there was no timeline and talks could be halted at any time.

The deal could fetch up to $4 billion, Reuters reported earlier this month, citing unnamed sources with direct knowledge of the discussions.

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