Johnson & Johnson will sell off some of its neurological business, including the manufacture of hydrocephalus shunts, to complete its $1.8 billion acquisition of Cordis Corp.
The Federal Trade Commission contended the companies' merger would violate antitrust laws by giving the two companies control of 85% of the market for hydrocephalus shunts, which are used in treatment of some brain disorders.
Johnson & Johnson, based in New Brunswick, N.J., and Cordis, based in Miami, still are performing due diligence prior to merging.
They recently extended their due diligence period through Jan. 22. FTC commissioners voted 5-0 to accept the proposed consent agreement, which is subject to a 60-day public comment period.