American holding company Johnson & Johnson closes one of its units, a subsidiary of Animas Corp, which developed insulin pumps for diabetics. Production will be discontinued due to increased competition in the market. The company will soon stop selling the product in Canada and the US. Johnson & Johnson, in addition to medical equipment, is engaged in the production of medicines and sanitary goods, known throughout the world.
Over the past few weeks, Johnson & Johnson shares have fallen by 1.5% and likely further decline on the news. The trade will be available during the American session, from 13:40 to 20:00 (GMT).
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