J&J extends tender offer to acquire Omrix Biopharmaceuticals

NEW BRUNSWICK, N.J. Johnson & Johnson has extended a tender offer for a New York-based biotech company, the drug maker announced Friday.

J&J said it had extended its tender offer for all outstanding shares of common stock of Omrix Biopharmaceuticals until midnight Dec. 26. The offer was originally intended to expire at midnight Dec. 23.

J&J, which is attempting to buy Omrix through subsidiary Binder Merger Sub, has offered $25 for each share of Omrix common stock tendered in the offer, minus any required withholding taxes.

Omrix has had a partnership with the New Brunswick, N.J.-based J&J through J&J subsidiary Ethicon since 2003 to develop and manufacture Evicel, a fibrin sealant for use in general hemostasis surgery.