NEW BRUNSWICK (dpa-AFX) - Drug major Johnson & Johnson (JNJ) announced Wednesday that it has completed the acquisition of V-Wave Ltd., a privately-held company focused on treatment options for patients with heart failure.
The company said the deal will be accounted for as an asset acquisition, resulting in an in-process research and development charge of around $600 million in the fourth quarter.
As announced earlier, Johnson & Johnson expects the transaction to dilute adjusted earnings per share by approximately $0.24 in 2024 and approximately $0.06 in 2025.
The company plans to provide an update to its full-year 2024 financial outlook when it reports third quarter results on October 15.
Regarding the acquisition, the company said V-Wave will operate as part of Johnson & Johnson MedTech.
The acquisition of V-Wave extends Johnson & Johnson MedTech's position in cardiovascular disease and provides an even greater opportunity to tackle heart failure. It further accelerates the company's shift into high-growth and high-opportunity markets.
Tim Schmid, Executive Vice President and Worldwide Chairman of Johnson & Johnson MedTech, said, 'V-Wave's novel implantable device, the Ventura Interatrial Shunt, offers tremendous promise for patients experiencing heart failure with reduced ejection fraction. This technology has the potential to be the first device of its kind to market.'
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