Johnson & Johnson is looking to divest its diabetes care business to Chinese buyers in a deal that could be worth up to $4 billion, unnamed sources told Reuters.
Here are three things to know.
1. J&J's diabetes care business consists of LifeScan, which produces blood glucose monitors, and Animas and Calibra Medical, which manufacture insulin delivery devices.
2. The drugmaker said it was considering options, including divestiture, for its diabetes companies last January. In October, Johnson & Johnson shared plans to shut down Animas' operations in the U.S. and Canada after failing to find a buyer.
3. Several Chinese healthcare companies are interested in acquiring Calibra Medical and LifeScan from J&J, according to inside sources.
"The evaluation of potential strategic options for LifeScan and Calibra Medical Inc. is ongoing and we do not have an announcement regarding these businesses at this time," J&J told Reuters.