LifeScan... Out with a whimper.

Had to dig to find this.

http://www.investor.jnj.com/releasedetail.cfm?ReleaseID=4554733


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October 15, 2013

LifeScan Announces Definitive Agreement To Divest SMBG Business

Milpitas, CA, October 15, 2013 - LifeScan today announced a definitive agreement to divest the assets of its OneTouch line of blood glucose monitoring business unit to subsidiaries of Roche Pharmaceuticals International, Inc. for approximately $2.6 billion in cash. The divestiture of LifeScan NA assets includes brands (ONETOUCH®, VERIO IQ® and DELICA®) sold in the U.S. LifeScan NA will continue to promote the Animas line of insulin pump therapy products in both the US and Canadian markets.

The transaction is expected to close by year-end, subject to customary closing conditions.

# # #

LifeScan, Inc. is a leading maker of blood glucose monitoring systems for people with diabetes. For information about diabetes care and LifeScan products and services, visit http://www.onetouch.com.

# # #

(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of LifeScan and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to, the possibility that the transaction will not be completed, or if completed, not completed on a timely basis; general industry conditions and competition; economic factors, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; trends toward health care cost containment; and increased scrutiny of the healthcare industry by government agencies. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 2, 2013. Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Neither Lifescan nor Johnson & Johnson undertake to update any forward-looking statements as a result of new information or future events or developments.)




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WOW!! Looks like the annual tradition of holiday layoffs will continue again this year! Best of luck to everyone! Gee, I wonder if Simms knew...

And, how are they possibly going to sustain a pump business?? No marketshare, no innovation, inability to successfully bring out products, a salesforce that will be looking over its shoulder for the never ending cuts. Hmmmm...Roche has a small pump business too...just saying!!

 

That sure explains a lot. So sad for everyone.

 

I can't find anything to verify this. When is this going to take place?

 

I've worked for J&J and LifeScan for a long time. Would not take this information as gospel until someone with credibility makes a statement. Sometimes 1+1 does not add up to $2.6 billion!!

 

The sad part of this and what really TICKs ME OFF is that our beloved leaders do not have the guts to tell us these things. It's bad, I know, but we need to know. This just wants me to run to the trash bin and dump all these samples. I'm heading to the bar.. toasting yet another management failure and saying goodbye to 16 years I have put behind this company.

 

Communication from management please!!!!

 

Someone brought this up 2 weeks ago on our regional call with MP. he mentioned that he could not elaborate, but there would be no impact on field sales and to continue with business as normal. Don't over think this. it should be a good thing. Keep your eye on moving share in Q4.

 

did any else hear about the Monday call?

 

This appears to be some kind of a hoax. The link posted goes to a blank page, there's nothing on the J&J website, there's been no announcement (but the release date is October 15th), and nothing comes up on a Google search. Maybe it's best to use our heads and confirm these "announcements" before jumping to conclusions.

 

But I see it right here on the internet. it has to be true. so the ad I saw last night while watching golden girls reruns for the Accu-Touch glucose meter wasn't real either?

 

Unfortunately for most, this will be the end....and of course Sims knew...how do you think he ended up over at Lucentis? Look also at other changes that happened in October it speaks volumes to the fact that there was inside knowledge this day would come. The sad fact is what happened to Lifescan could have been avoided if there was real leadership at the executive level and at all levels of management within the organization (from field sales to managed care to marketing.) After almost three years of layoffs every November and sometimes in July if you didn't think the Mothership would offload this liability then you are a fool. So where will your executive management team end up? They will be taken care of by JnJ, but for the rest of you, you were dealt cards none of you had control over by Val and Peter and MP thinking that strips were a billion dollar business and that LFS couldn't be touched with a premium strip while the market was heading generic, not investing in a pump business by leveraging disposables and pulling back on innovation. More insight from management on where the market was heading was needed and some key acquisitions along the way (i.e. Dexcom) would have saved all your asses.....(take a look at their stock price now.) Arrogance and pride come before the fall......truer words were never spoken. So to coin a phrase so endearing at LFS......in the spirit of transparency....the end is near.

 

You really think this would be an all-cash deal? I'll buy it when I see the official press release.

 

They are selling just in time. After rispradol J&J can't take any chances. if this government investigation into lfs off label promotion on cancer and diabetes risk reduction by ventilating finger tips with the delica lancet sticks, the company will have no cred left.

 

Accu-Touch!!!! That is f'ing funny!!!

 

I must have seen it on MSNBC where they called it the new One Check meter. Justin Bieber is new spokesperson.. LOL

 

worked with my boss today. Not sad about the demise of LifeScam but was sad she may not make it to full retirement. That is the real mentality. Help me, not let me help the company.

 

"worked with my boss today" lol. let me guess, late breakfast, two hour whine fest, maybe one call and a stop at the mall. by 1 it's "what other offices are you going to see today" so she can fill out her coaching report since she needs to scoot off then car to catch an important manager's conference call, wink wink. typical lfs manager. know a lot of them like that.

 

This is so unbelievable. I beg you to please try harder on your next attempt. As far as trolls go, you're a level 1. You didn't even bother to research the target first. I mean, really. As if any competitor would buy out. They're waiting to see who flinches first.

 

FAKE. A fairly decent attempt though.

However the actual fate will probably not be as humane as a divestiture...