Johnson & Johnson said Friday it has agreed to acquire Animas Corp., an insulin delivery company, for about $518 million to capitalize on the growing demand for diabetes treatment.
The acquisition will give Johnson & Johnson immediate entry in the fast-growing insulin delivery pump market, the company said. J & J;, which is based in New Brunswick, N.J., said it would pay $24.50 for each Animas share, a 35 percent premium to Animas’ Thursday closing stock price.
