J&J sells prescription drugs and other health products, and has been looking for acquisitions this year.
Johnson & Johnson said Tuesday it had agreed to buy heart-device maker Abiomed Inc. in an all-cash deal that would be valued at $16.6 billion upfront including cash.
Under the terms, J&J agreed to pay $380 a share upfront, and would pay an additional $35 a share if certain milestones are met.
Abiomed shares closed at $252.08 Monday.
Organizations:
& $