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Report: J&J exploring sale of sterilization products business

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Report: J&J exploring sale of sterilization products business

Johnson & Johnson is looking to divest another one of its units, Bloomberg Technology reported, citing people familiar with the matter.

The New Jersey-based pharma giant hired an adviser to solicit bids for its sterilization products unit which could rake in as much as $2 billion.

The unit develops solutions for cleaning medical devices and tools.

While bids are expected in the coming days, Johnson & Johnson could still decide against selling the division.

Last month, China's Sinocare Inc. confirmed that it was in talks for Johnson & Johnson's diabetes care business, which has faced steady declines since 2011.