Johnson & Johnson purchases Mentor Corp for $1.07 billionPosted on December 2, 2008 | by Boston Plastic Surgery
On December 1, breast-implant maker Mentor Corp. (MNT) was bought out by Johnson and Johnson (JNJ) for $1.07 billion. According to JP Morgan analyst Michael Weinstein, the recent economic plunge has greatly influenced Mentor’s stability, resulting in Johnson and Johnson to step in and support MNT which will continue to stand alone.
To boost their image, Mentor intends to not only supply breast implants, which is currently about 90% of its revenue, but also plans to launch a new set of products called PurTox – a neurotoxin that will fight facial wrinkles.
Mentor already competes with Allergan in the breast implant industry and now with the estimated FDA approval for PurTox to begin in mid to late 2010, Allergan’s Botox will no longer be the only wrinkle paralyzer on the block.