Sept. 28 (Bloomberg) -- Johnson & Johnson bought Merck & Co.’s half of the companies’ joint venture for over-the-counter medicines for heartburn and digestive diseases for $175 million, ending a 22-year partnership in the U.S. and Canada.
The deal announced today includes a manufacturing plant in Lancaster, Pennsylvania, that is part of a consent decree with U.S. regulators because of production violations. J&J, the world’s second-biggest seller of health products after Pfizer Inc., has recalled dozens of drugs and devices in the past two years, including nonprescription medicines such as Tylenol.
Thursday, September 29, 2011
J&J Buys Merck’s Share of OTC Drug Partnership for $175 Million - Businessweek