The Thanksgiving buying bug has bitten my favorite blue-chip, Johnson & Johnson, which is buying Mentor Corp. and Omrix Biopharmaceuticals.
Omrix is going to feed right into J&J's surgical care business.... and by that I mean the serious surgical stuff.
Mentor, on the other hand, feeds into, shall we say, the sometimes desired-but-not-required cosmetic surgery side. It is a leader in cosmetic products, including breast implants. J&J has traditionally not been a market leader in cosmetic surgery, but this acquisition will change that.
J&J's stock went down as a result of these acquisitions, but the long term prognosis is very positive. I'm shoring up my position in the stock.
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