Chinese Medical Firm Eyes Johnson & Johnson Diabetes Unit
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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