J&J might sell its Ortho Clinical Diagnostics division

Technician at Ortho-Clinical Diagnostics, a J&J unit, in Raritan, N.J. The health-care giant cited a sales slump for heart stents among reasons for cutting costs. It did not say which plants would be affected. (Associated Press)

New York - Johnson & Johnson might sell its Ortho Clinical Diagnostics business if it can find the right price, chief executive officer Alex Gorsky said Tuesday morning.

The division has its headquarters in Raritan, N.J., and its research and development center in Rochester, N.Y.

Gorsky said J&J is "initiating the first steps," in the divestiture process of that division.

"When you look at diagnostics, we have good technology and a lot of good businesses, but they are not No. 1 or 2 in the market," Gorsky said.

Gorsky spoke at an investor conference held at the Pierre Hotel to discuss the company's financial results for all of 2012 and the fourth quarter.

A link to Ortho Clinical Diagnostics is here.