Johnson & Johnson (NYSE:JNJ) says it is abandoning plans to buy Takeda Pharmaceutical's (NYSE:TAK) TachoSil surgical patch product due to regulatory issues.
Takeda had announced the sale of TachoSil to J&J subsidiary Ethicon for $400M last May.
Federal Trade Commission Chairman Joseph Simons earlier cited potential regulatory issues over the deal because J&J also sells Evarrest, the only other U.S.-approved fibrin sealant patch designed to stop bleeding during surgery.