![FDA, FTC and DOJ Enforcement of Medical Device Regulations FDA, FTC and DOJ Enforcement of Medical Device Regulations](https://www.fdanews.com/ext/resources/Book-Covers-2/BFFDEMDR-COVER.png?height=200&t=1685733565&width=200)
Home » J&J TO BUY PFIZER'S CONSUMER HEALTHCARE DIVISION
J&J TO BUY PFIZER'S CONSUMER HEALTHCARE DIVISION
Pfizer will sell its consumer healthcare division to Johnson & Johnson (J&J) for $16.6 billion and focus on developing new drugs and acquiring new technology, according to announcements by both companies. The acquisition makes J&J the world's largest supplier of consumer healthcare and over-the-counter (OTC) products.
Pfizer Consumer Healthcare, which reported $3.9 billion in revenue last year, includes such OTC products as Nicorette, Listerine, Lubriderm, Visine, Neosporin, Sudafed, Zantac and Benadryl.
According to its statement, Pfizer plans to use the $13.5 billion in after-tax proceeds to purchase up to $7 billion in common stock in 2007 and up to $10 billion in 2008. Furthermore, Pfizer plans to invest in treatments for ailments such as Alzheimer's disease, diabetes, obesity and infectious diseases.
KEYWORDS FDAnews Drug Daily Bulletin
Upcoming Events
-
21Oct