Yen Slides as Japan Election Boosts Fiscal Stimulus Expectations 
Nikkei 225 Hits Record High Above 56,000 After Japan Election Boosts Market Confidence 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Gold and Silver Prices Climb in Asian Trade as Markets Eye Key U.S. Economic Data 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Innovent Biologics Shares Rally on New Eli Lilly Oncology and Immunology Deal 
UK Starting Salaries See Strongest Growth in 18 Months as Hiring Sentiment Improves 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Johnson & Johnson acquires Abiomed medical device technology company that develops and manufactures temporary external and implantable mechanical circulatory support devices such as the heart pump. The company invested $16.6 million in the acquisition deal.
Johnson & Johnson revealed its latest investment on Tuesday, Nov. 1, and it was described as its biggest purchase in almost six years. The buyout was a strategic move as the company is looking to bolster its cardiovascular business.
It was noted that the decision was made at a time when Johnson & Johnson was spinning off its consumer health business unit so it could focus on works related to pharmaceuticals and medical devices. The addition of Abiomed to its portfolio through the acquisition deal is expected to scale up its medical device division.
As part of the agreement, the company will pay $380 for each Abiomed share. It will also hand out another $35 per share in cash if the Danvers, Massachusetts-headquartered medical device maker achieves new commercial and clinical milestones, as per CNBC.
Abiomed is known to develop heart pumps and other technology for the treatment of coronary artery disease and heart failure. Its Impella heart pump device is typically used for patients suffering from severe coronary artery disease.
This Johnson & Johnson and Abiomed acquisition agreement is expected to be completed by early next year. Once done, it will help J&J broaden its position as a thriving cardiovascular innovator while also building its medical device segment.
“The addition of Abiomed is an important step in the execution of our strategic priorities and our vision for the new Johnson & Johnson focused on Pharmaceutical and MedTech,” Johnson & Johnson’s chief executive officer, Joaquin Duato, said in a press release.
The CEO added, “We have committed to enhancing our position in MedTech by entering high-growth segments. The addition of Abiomed provides a strategic platform to advance breakthrough treatments in cardiovascular disease and helps more patients around the world while driving value for our shareholders.”
Finally, Johson & Johnson said that Abiomed will be placed under its medical technology unit but that, despite the acquisition, it will continue to operate as a standalone business.
