J&J's Tibotec-Virco acquisition completed
US giant Johnson & Johnson has announced the completion of theacquisition of the privately-held biopharmaceutical company Belgium-based Tibotec Virco NV, which focuses on developing antiviral treatments. The transaction is valued at approximately $320 million in cash and debt.
J&J will incur a one-time after-tax charge of about $145 million, or $0.05 per share, in the second quarter associated with in-process R&D costs. Tibotec-Virco will become a wholly-owned subsidiary of the US firm.
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