Johnson & Johnson buys Eastman Kodak Unit

- Johnson & Johnson has agreed to buy Eastman Kodak's clinical diagnostics unit for $1.01 billion. The agreement is J&J's second major acquisition in less than a month. In late August, it acquired Neutrogena for $924.1 million. A spokesperson for the company said that the net result of the purchase is a major increase in the firm's product line, adding that few job cuts will be necessary as there is little duplication in the two companies. Most analysts seemed to be in agreement that the acquisition was a good move for J&J, although a couple felt that the price was a little on the rich side.