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Johnson & Johnson

Healthcare and PharmaceuticalsFounded 1886
Reviewed by Swet Parvadiya
Company data updated: October 2026

Acquisitions

Johnson & Johnson Acquisitions

5

Major Deals Covered

$74.3B

Disclosed Deal Value

What are Johnson & Johnson's biggest acquisitions?

Johnson & Johnson's largest disclosed acquisition here is Actelion for $30B in 2017. This page covers 5 major deals from 2017 to 2025, each with its price where disclosed and the reason behind it.

Major deals covered
5
Largest deal
Actelion ($30B)
First deal
2017
Most recent
2025
CompanyYearPricePurpose
Actelion2017$30.0BJ&J acquired the Swiss biotech Actelion to add pulmonary arterial hypertension treatments and strengthen its specialty pharmaceutical pipeline.
Kenvue separation2023UndisclosedJohnson & Johnson separated its consumer-health business -- Band-Aid, Tylenol, Listerine, Neutrogena -- into the standalone public company Kenvue, rather than acquiring a company.
Abiomed2022$16.6BJ&J acquired heart-pump maker Abiomed to expand its MedTech cardiovascular device portfolio, paying $380 per share upfront plus contingent value rights of up to $35 per share tied to milestones.
Shockwave Medical2024$13.1BJ&J acquired Shockwave Medical, a leading maker of intravascular lithotripsy devices used to treat calcified coronary and peripheral artery disease, to further build out its cardiovascular MedTech business.
Intra-Cellular Therapies2025$14.6BJ&J agreed to acquire Intra-Cellular Therapies for $132.00 per share in cash, adding the neuroscience drug CAPLYTA and related pipeline assets to its Innovative Medicine business.
What companies has Johnson & Johnson bought?
Major acquisitions by Johnson & Johnson documented here include Actelion (2017), Abiomed (2022), Intra-Cellular Therapies (2025), Shockwave Medical (2024) and Kenvue separation (2023).
What is Johnson & Johnson's most recent acquisition?
The most recent Johnson & Johnson acquisition documented here is Intra-Cellular Therapies, in 2025, for $14.6B.

Intra-Cellular Therapies

2025

$14.6B

Why

J&J agreed to acquire Intra-Cellular Therapies for $132.00 per share in cash, adding the neuroscience drug CAPLYTA and related pipeline assets to its Innovative Medicine business.

Impact

At about US$14.6 billion in equity value, it was J&J's biggest deal in more than two years, according to Reuters, and marked a major push into neuroscience treatments.

Outcome

The acquisition closed April 2, 2025, expanding J&J's Innovative Medicine segment, which reached $60.40 billion in revenue that year.

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Shockwave Medical

2024

$13.1B

Why

J&J acquired Shockwave Medical, a leading maker of intravascular lithotripsy devices used to treat calcified coronary and peripheral artery disease, to further build out its cardiovascular MedTech business.

Impact

The deal added a differentiated device technology (breaking up arterial calcium with sonic-pressure waves) that complemented Abiomed's heart-pump portfolio.

Outcome

Shockwave strengthened J&J's cardiovascular MedTech offering as the segment scaled toward more than a third of total company revenue.

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Kenvue separation

2023

Why

Johnson & Johnson separated its consumer-health business -- Band-Aid, Tylenol, Listerine, Neutrogena -- into the standalone public company Kenvue, rather than acquiring a company.

Impact

The separation left J&J as a more focused healthcare company built around two segments, Innovative Medicine and MedTech, freeing capital and management attention previously split across three business lines.

Outcome

After the separation, J&J completed the Shockwave Medical (2024) and Intra-Cellular Therapies (2025) acquisitions; the Abiomed deal had already closed on December 22, 2022, before the Kenvue separation.

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Abiomed

2022

$16.6B

Why

J&J acquired heart-pump maker Abiomed to expand its MedTech cardiovascular device portfolio, paying $380 per share upfront plus contingent value rights of up to $35 per share tied to milestones.

Impact

It was J&J's largest deal since Actelion in 2017 and its first major MedTech-focused acquisition following the Kenvue separation announcement.

Outcome

Abiomed's heart-pump technology was integrated into J&J's MedTech segment, which grew to $33.79 billion in revenue by 2025.

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Actelion

2017

$30.0B

Why

J&J acquired the Swiss biotech Actelion to add pulmonary arterial hypertension treatments and strengthen its specialty pharmaceutical pipeline.

Impact

At US$30 billion it was J&J's largest acquisition at the time, and it remains larger than the later Abiomed (US$16.6 billion), Shockwave Medical (US$13.1 billion) and Intra-Cellular Therapies (US$14.6 billion) deals.

Outcome

Actelion's drugs were folded into J&J's Innovative Medicine segment, reinforcing the higher-margin pharmaceutical business that now generates about 64% of company revenue.

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Johnson & Johnson's Growth & Acquisition Strategy

J&J is narrowing its portfolio toward higher-growth areas. It spun off consumer health as Kenvue in 2023, announced in October 2025 that it will separate its orthopaedics business as DePuy Synthes, and used acquisitions to refill its pipeline: Abiomed ($16.6 billion, 2022), Shockwave Medical ($13.1 billion, 2024), and Intra-Cellular Therapies ($14.6 billion, 2025). Internally it is expanding TREMFYA and CAPLYTA labels, advancing multiple myeloma combinations such as TALVEY plus DARZALEX FASPRO, and developing the OTTAVA soft-tissue surgical robot to compete with Intuitive Surgical's da Vinci.

How Johnson & Johnson Makes Money

J&J makes money in two ways. Innovative Medicine (about 64% of FY2025 sales, $60.4 billion) sells patented prescription medicines to wholesalers, specialty pharmacies, hospitals, and governments; key products include DARZALEX for multiple myeloma, TREMFYA and STELARA in immunology, ERLEADA in prostate cancer, CARVYKTI cell therapy, and CAPLYTA, added through the 2025 Intra-Cellular Therapies deal. Margins depend on patent protection, so growth relies on launching new drugs as older ones such as STELARA face biosimilars. MedTech (about 36%, $33.8 billion) sells surgical tools, wound closure, orthopaedic implants, electrophysiology catheters and mapping systems, Abiomed heart pumps, Shockwave lithotripsy devices, and contact lenses to hospitals and surgery centers, with much of the revenue coming from recurring disposables and implants.

Johnson & Johnson Acquisitions FAQ

What was J&J's acquisition of Abiomed for $16.6 billion in 2022?

In December 2022, J&J acquired cardiovascular device leader Abiomed for $16.6 billion ($380/share in cash), establishing J&J's leadership in heart recovery and micro-axial Impella circulatory pumps.

Why did J&J acquire Shockwave Medical for $13.1 billion in 2024?

In May 2024, J&J acquired Shockwave Medical for $13.1 billion ($335/share in cash), adding market-leading Intravascular Lithotripsy (IVL) technology to treat severe coronary and peripheral artery calcification.

What was the landmark acquisition of Swiss biotech leader Actelion for $30 billion in 2017?

In June 2017, J&J acquired Actelion for $30 billion in cash, adding a market-leading pulmonary arterial hypertension (PAH) franchise (Opsumit, Uptravi, Tracleer) to Janssen Pharmaceuticals.

How did the acquisition of DePuy in 1998 and Synthes in 2012 build DePuy Synthes?

J&J acquired orthopedic pioneer DePuy for $3.5 billion in 1998, and merged it with Swiss trauma giant Synthes (acquired for $19.7 billion in 2012) to form DePuy Synthes, the world's largest orthopedic and trauma device enterprise.

Why did J&J acquire surgical robotics pioneer Auris Health for $3.4 billion in 2019?

In 2019, J&J acquired Auris Health (founded by surgical robotics pioneer Dr. Fred Moll) for $3.4 billion, integrating the Monarch robotic endoscopy platform for lung cancer and developing the Ottava robotic surgical platform.

How did the acquisition of Centocor in 1999 for $4.9 billion transform J&J's biologic pipeline?

In 1999, J&J acquired Centocor for $4.9 billion, securing blockbuster anti-TNF biologic Remicade (infliximab) and creating the foundational biologic antibody R&D engine that later developed Stelara, Simponi, and Tremfya.

What was the acquisition of biosurgery and electrophysiology pioneer Biosense Webster in 1997?

In 1997, J&J acquired Biosense Webster, creating the world's preeminent cardiac electrophysiology business with proprietary 3D CARTO mapping and cardiac ablation catheters.

What is Johnson & Johnson's current strategic M&A criteria?

J&J deploys billions in annual free cash flow toward acquisitions of first-in-class oncology, immunology, and neurology biotech assets, alongside high-growth, interventional cardiovascular and robotic MedTech platforms.

What companies has J&J acquired?

To dominate global MedTech, J&J executes staggering, multi-billion dollar acquisitions. In 2017, they bought Actelion for $30 billion (pulmonary hypertension drugs). Recently, they aggressively targeted cardiovascular devices, buying Abiomed (heart pumps) for an incredible $16.6 billion in 2022, and Shockwave Medical (intravascular lithotripsy) for $13.1 billion in 2024.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.