Johnson & Johnson keeps quiet on bid rumours despite reports

JOHNSON & JOHNSON is a US manufacturer of healthcare, medical and pharmaceutical goods, founded in 1886 by three brothers in New Jersey. It has been a Fortune 500 company since 1978, with total sales for 2009 of $61.9bn (£39bn).

Throughout the takeover rumours Johnson & Johnson has maintained that it does not comment on speculation, keeping its cards close to its chest on a bid for Smith & Nephew.

The US‚Äągiant is nearly 25 times larger than the UK company in market capitalisation terms.

It has made it a sustained strategic goal to diversify its portfolio since the company was first established in the late 1800s, including the $6.6bn acquisition of Pfizer’s consumer healthcare brand in 2006.

It holds over 250 subsidiary companies in 57 companies, with William C Weldon at the helm of its board since 2002.