JNJ stock gains 1.3% as reports emerge of a potential $20 billion sale of its orthopedics unit to Apollo Global Management, a move that could reshape the company's medical device footprint.
Johnson & Johnson shares rose 1.3% pre-market on reports of Apollo talks to acquire its orthopedics unit in a deal potentially valued near $20 billion.
Apollo Global Management is reportedly in discussions to acquire Johnson & Johnson's orthopedics division, a potential $20 billion transaction.
Johnson & Johnson shares climbed 1.3% in pre-market trading following reports that Apollo Global Management is in advanced talks to acquire the company's orthopedics division. The potential transaction is estimated to be valued at approximately $20 billion, as the healthcare giant looks to streamline its portfolio.
While not explicitly stated as a strategic pivot, the unit has faced significant legal headwinds, including thousands of lawsuits related to hip replacement devices, and the sale would allow JNJ to focus on core healthcare segments.