Drug Store News - Pfizer is now officially a part of Johnson & Johnson, as the $16.6 billion acquisition closed late last month
Supplier News–Pfizer is now officially a part of Johnson & Johnson, as the $16.6 billion acquisition closed late last month. The deal catapults J&J into the No. 1 position worldwide as far as OTC suppliers with a combined $13 billion in sales. With the acquisition, the Johnson & Johnson Consumer Group portfolio now will feature products such as Listerine oral care products, the Nicorette line of smoking cessation treatments and Sudafed cold, flu and allergy products. Perhaps the most significant piece of this transaction will be the OTC rights to Pfizer’s Zyrtec, which generated $1.5 billion in prescription sales in 2005.
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A pair of product divestitures also closed–Chattem picked up a handful of Pfizer and J&J brands, including Cortizone and Kaopectate, in a deal valued at $410 million. Boehringer Ingelheim Pharmaceuticals acquired the U.S. rights to the OTC Zantac product line for $509.5 million in cash in 2006.
MICHAEL JOHNSEN
SENIOR EDITOR
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