This morning according to several reports Johnson and Johnson (NYSE: JNJ) has agreed to sell their LifeScan unit to private equity firm Platinum Equity for $2.1 billion. While this is good news for JNJ the sale price is well below the initial reports that this unit would go for over $3 billion. Now we know very little about this group or what their plans are, but this news marks a sad ending to what was once a mighty unit.
Since we have chronicled the demise of both LifeScan and Animas, their insulin pump unit which they could not sell . . .
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