Johnson & Johnson (New Brunswick, N.J.) has announced it will acquire the consumer healthcare division of Pfizer Inc. (New York) for $16.6 billion in cash.
Pfizer Consumer Healthcare's global business of personal care and over-the-counter products achieved sales of $3.9 billion in 2005 through such brands as Listerine, Nicorette, Lubriderm, Visine, Neosporin, Sudafed, Zantac and Benadryl.
“This combination creates the world's premier consumer health care company,” said Johnson & Johnson chairman and ceo William Weldon. “Our consumer business has a long tradition of outstanding performance and a proven track record in growing consumer brands at above-category levels through innovation. This acquisition builds upon our broad base in health care products and our leadership objectives in the consumer, pharmaceutical and medical devices and diagnostics markets.”
Johnson & Johnson's consumer and over-the-counter products include Band-Aid, Tylenol, Reach, Splenda and the Clean & Clear, Aveeno and Neutrogena skin care brands.
The addition of Listerine, the world's number one mouthwash, triples Johnson & Johnson's oral health care business into a franchise well in excess of one billion dollars. It further expands the franchise presence in more than 60 markets.