Johnson & Johnson (JNJ.US) has completed the acquisition of the private medical devices company V-Wave Ltd. Approximately $0.6 billion in research and development expenses (IPR&D) will be incurred in the fourth quarter of 2024.
According to the report from the Securities Times App, Johnson & Johnson (JNJ.US) has completed the acquisition of the private medical devices company V-Wave Ltd. In August of this year, the pharmaceutical giant agreed to prepay $0.6 billion for the acquisition of V-Wave. This transaction will be considered as an assets acquisition and will result in approximately $0.6 billion in in-process research and development expenses (IPR&D) in the fourth quarter of 2024.
As previously announced, V-Wave, focused on cardiovascular disease treatment solutions, will operate as part of Johnson & Johnson's medical technologies operation.
As disclosed earlier, Johnson & Johnson expects this transaction to dilute adjusted earnings per share by approximately $0.24 in 2024 and by approximately $0.06 in 2025.