J&J exits insulin pump business: 4 things to know

Johnson & Johnson's insulin pump unit, Animas Corp., will shutter business operations in the U.S. and Canada, effective immediately.

Here are four things to know.

1. Animas will no longer sell the Animas Vibe and OneTouch Ping insulin pumps, although the products will still be available outside the U.S. and Canada.

2. About 90,000 patients currently use Animas pumps. The company is partnering with Medtronic to transition these patients to alternative pump products.

3. The decision follows a period of poor financial performance for Animas. The company generated sales of $421 million in the second quarter, a 10.6 percent decrease from the same quarter a year earlier.

4. Johnson & Johnson said it considered selling its diabetes care division, which also includes LifeScan and Calibra Medical, as an alternative option, but could not find a buyer, according to Reuters.

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