McNEIL-PPC, Inc. Acquires Full Ownership of the Johnson & Johnson-Merck Consumer Pharmaceuticals Co. Joint Venture
FORT WASHINGTON, Pa., Sept. 28, 2011 /PRNewswire/ -- McNEIL-PPC, Inc. and its affiliate McNeil MMP, LLC (McNEIL) announced today that they have completed the acquisition of full ownership of the Johnson & Johnson-Merck Consumer Pharmaceuticals Co. joint venture in the United States from Merck Sharp & Dohme Corp. (Merck). The joint venture will be renamed McNeil Consumer Pharmaceuticals Co. and will continue to market products under the PEPCID®, MYLANTA®, and MYLICON® brands.
In addition, Johnson & Johnson Inc. through its McNeil Consumer Healthcare Division (McNeil Canada) has today acquired from Merck Canada Inc. its partnership interest in the Canadian joint venture. McNeil Canada will continue to market and sell PEPCID®, 222® and FLEET ENEMA® in Canada.
Ownership of the manufacturing facility located in Lancaster, Pa., will also transfer to McNEIL-PPC, Inc. These acquisitions will allow McNeil and McNeil Canada to enhance their positions in the United States and Canada, respectively, in the important digestive health category.
(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of McNEIL-PPC, Inc., Johnson & Johnson Inc. and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to, general industry conditions and competition; economic factors, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; trends toward health care cost containment; and increased scrutiny of the healthcare industry by government agencies. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 2, 2011. Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. McNEIL-PPC, Inc., Johnson & Johnson Inc. and Johnson & Johnson do not undertake to update any forward-looking statements as a result of new information or future events or developments.)
SOURCE McNEIL-PPC, Inc.