Johnson & Johnson has completed the acquisition of Merck’s share in Consumer Pharmaceuticals, originally a joint venture between the two companies, for a fee of $175m.
Johnson & Johnson will assume full ownership of the company, which is to be renamed as McNeil Consumer Pharmaceuticals.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Merck said that it had decided to sell its stake in the venture in order to focus fully on long-term growth prospects of its wholly owned consumer products division.
As per the agreement, ownership of a manufacturing facility in Pennsylvania, US, will transfer to McNeil.
