J&J accepts $2.1B offer for LifeScan diabetes product business

Johnson & Johnson announced it has accepted the $2.1 billion binding offer from Platinum Equity to purchase its LifeScan diabetes product line.

The binding offer, announced in March, would see the maker of OneTouch brand and other blood glucose monitoring products change hands.

The deal is expected to close by year-end, New Brunswick-based J&J said in a news release, subject to customary approvals and conditions.

J&J said it will continue to serve the diabetes market through its medical device, pharmaceuticals and consumer businesses, including medications.

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