Johnson & Johnson Acquires Closure Medical Corporation

Johnson & Johnson and Closure Medical Corporation announced a definitive agreement whereby Closure Medical will be acquired in a cash-for-stock exchange. Closure Medical is expected to operate as a stand-alone entity reporting through Ethicon, Inc., a Johnson & Johnson company, with whom Closure Medical has worked with since 1996 developing topical adhesives.

Closure Medical designs, develops and manufactures a number of medical adhesives and delivery devices based on a proprietary medical-grade cyanoacrylate technology for specific applications in wound care and wound closure. This technology is found in the family of Dermabond Topical Skin Adhesive products, which is marketed by Ethicon, Inc. under an exclusive distribution agreement.It is also found in Band-Aid Brand Liquid bandage and other products for consumer use.