Several Chinese bidders are sizing up bids worth a potential $4 billion for the diabetes care business run by global healthcare firm Johnson & Johnson, sources told Reuters.
China is home to a third of the world’s diabetes sufferers, according to World Health Organization estimates, a large percentage of whom receive little or no treatment for their condition. Diabetes care is therefore widely expected to be a growth industry in the Asian country.
Among the potential bidders is a consortium led by blood sugar level monitoring systems company Sinocare Inc and China Jianyin Investment Ltd (JIC), a unit of sovereign wealth fund China Investment Corp. The group has hired an adviser to work on a bid, according to two sources.