Johnson & Johnson headquarters in New Brunswick, NJ
Mel Evans | AP
Johnson&Johnson‘s (JNJ) $16.6 billion deal to buy a heart pump manufacturer Abiomed (ABMD) will strengthen its pharmaceutical and medical device business in advance of J&J’s plans to spin its consumer division into a separate company. The acquisition of Abiomed is expected to be completed by the end of the first quarter of 2023. The spin-off of J&J’s consumer business, including brands like Band-Aid and Tylenol, is expected in November next year.