Johnson&Johnson announced partnership and investment with different companies this week, as it traded higher on the stock market.
The American consumer company confirmed a deal with Hewlett & Packard to make personalized 3D printed healthcare solutions. The two companies will create a series of consumer products, medical devices and solutions.
Johnson & Johnson Group Worldwide Chairman Sandra Peterson said that the intersection of technology and health care is spurring innovation that will have a profound impact on patients and consumers all over the world.
“Combined with advances in data mining and software, 3D printing could enable distributed manufacturing models and patient-specific products, therapies and solutions that deliver better outcomes, better economics and improved global accessibility. This collaboration with HP Inc. exemplifies our commitment to harnessing new technology to improve outcomes and reduce costs across the health continuum,” she added
Under the agreement, HP will help the company to have better healthcare result for patients, consumers and health care providers with a lesser price. In the first few months, the two companies will pay attention to the personalized instruments and software to be used in operating patient-specific medical devices.
Stephen Nigro, president of HP’s 3D printing business explained that advances in 3D printing technology have the potential to break historical paradigms of health care delivery in ways that are not feasible in traditional manufacturing processes.
“Together with Johnson & Johnson we have the potential to create opportunities and innovations in health care to improve patients’ lives that neither company could develop alone,” Nigro said further.
In other news, Janssen, the subsidiary of Johnson & Johnson announced the partnership with MacroGenics Incorporated. Janssen is paying $75 million license fee upfront to MacroGenics and another $665 million for the clinical, regulatory and commercialization purposes.
Further, MacroGenics will have the authority to fund a portion of late-stage clinical development for a profit sharing exchange in the US and Canada in return. The
Janssen made a partnership with MacroGenics before for the T-cell attack against cancer effort of the company.
Elsewhere, Johnson&Johnson was set to build a locally registered legal entity in Saudi Arabia after the business partnership with Ahmed Mohammed Abdel Wahab Naghi & Sons.
“Our company’s products have been sold in Saudi Arabia for almost 30 years and this latest development is the natural progression of our operations, and we build on our longstanding history, and our familiarity, knowledge and experience in the market,”said Dr Ahmed Khalil, general manager of Johnson & Johnson Consumer Saudi Arabia.
On the other hand, Azmi Jabr, assistant president of Al Naghi expressed his excitement regarding the joint project. He said that having worked closely with Johnson & Johnson Middle East over the past 26 years in Saudi Arabia, we are very pleased to be strengthening this strategic relationship further by creating a legal entity.
Shares of Johnson and Johnson traded higher to $112.85, up 0.71 percent with a market capitalization of 308.39 billion. The company has a dividend yield of 2.84 percent and a price earnings ratio of 20.57. Based on the records, the American consumer company had a revenue of $70.1 billion and net income of $15.4 billion.
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