Johnson & Johnson will acquire TransForm Pharmaceuticals, Lexington, Mass., for approximately $230 million in a deal expected to close in the second quarter. J&J said it expects to incur a one-time charge of about $50 million for its acquisition of the privately held drug discovery and development company. The deal follows the announcement last week of J&J's plans to acquire Closure Medical Corp., Raleigh, N.C., for approximately $370 million. Closure Medical, which makes biomaterial-based adhesives and delivery devices for wound care, has worked closely with J&J's Ethicon since 1996 on the development of topical adhesives. The deal, also expected to close in the second quarter, likely will result in a one-time charge of about $68 million, J&J said. -- by Cinda Becker
J&J to add to drug discovery, wound-care operations
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