J&J closes V-Wave deal, to incur IPR&D charge of $600M in Q4
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Johnson & Johnson (NYSE:JNJ) has completed its acquisition of privately-held medical device company V-Wave Ltd.
The pharma major agreed to acquire V-Wave for an upfront payment of $600M in August.
As previously announced, V-Wave, which focuses on treatment options for cardiovascular disease, will operate as part of Johnson & Johnson MedTech.
The transaction will be accounted for as an asset acquisition, resulting in an in-process research and development charge of around $600M in the fourth quarter of 2024.
As previously disclosed, Johnson & Johnson expects the deal to dilute adjusted earnings per share by approximately $0.24 in 2024 and ~$0.06 in 2025.