April Openings, Closings, Mergers and Acquisitions
Johnson & Johnson completed acquisition of Abbott Medical Optics. AMO is a global leader in ophthalmic surgery and is known for world-class intraocular lenses used in cataract surgery. The World Health Organization estimates that approximately 20 million people are blind from age-related cataracts. These numbers are steadily rising due to population growth and increasing life expectancy.
Japan’s Takeda acquired cancer-drug manufacturer ARIAD Pharmaceuticals, Inc. Takeda¹s current top seller is a treatment for blood cancer under the brand name Velcade that is soon to face competition from generics.
After more than 85 years in business, Family Christian, the “world’s largest retailer of Christian-themed merchandise” is shutting its doors. The Christian retail chain cited declining sales as the reason for its closure. This isn’t the first time the company has revealed its financial troubles, having previously filed for bankruptcy in 2015.
HHGregg is closing 88 stores, accounting for 40% of its outlets plus three distribution centers by mid-April. Approximatly 1500 jobs are expected to be cut.