Pfizer, J&J; to sell some assets in acquisition deal
From the Associated Press
Pfizer Inc. and Johnson & Johnson have agreed to sell off several of their products to settle concerns that J&J;’s acquisition of Pfizer’s consumer healthcare business would reduce competition, the Federal Trade Commission said.
The proposed $16.6-billion acquisition was announced this year.
The FTC said the companies had agreed to sell Pfizer’s Zantac heartburn drug to Boehringer Ingelheim Pharmaceuticals Inc. and Pfizer’s Cortizone hydrocortisone anti-itch business and Unisom nighttime sleep aid business and J&J;’s Balmex diaper rash treatment business to Chattem Inc.
