Income · Stocks to Consider and Updates

J&J to Acquire Taris Biomedical and Completes Stake in Verb Surgical

Health care giant Johnson & Johnson (NYSE: JNJ – $146.06) said it is acquiring Taris Biomedical LLC, a privately owned biotech company focusing on a drug-delivery device for the treatment of bladder diseases, including cancer. The silicone delivery device allows for the continued release of medication into the bladder, the company said. Taris will become part of Janssen Research and Development Oncology Therapeutics unit. Terms of the deal were not disclosed. Also, Johnson and Johnson said it had agreed to buy the remaining stake in Verb Surgical from Verily, Alphabet (Google) Life Sciences division, a robotics and data science company focusing on digital surgery. Verb Surgical will remain part of J&J’s Medical Devices segment. Terms for the transaction were also not disclosed.

       Positions in Johnson & Johnson were upgraded in the income portfolio allocation model to 11%.

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