| Pharmaceutical giant Johnson & Johnson’s $16.6 billion acquisition of Pfizer’s over-the-counter (OTC) business worldwide will make J&J the largest consumer health company in India with 10 millionaire OTC brands and over 70 leading consumer and pharmaceutical products under its umbrella. At present, Glaxo SmithKline Consumer Health is the largest consumer health company in the country.
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| The flagship brands of the J&J-Pfizer combine include Coldarin Plus and Coldarin Cough, Nizoral Antidandruff shampoo and Band-Aid ( all command No. 1 position in their respective segments) from the J&J portfolio and Benadryl, Gelusil, Listerine mouthwash, Sudafed decongestant and Rolaids antacid from Pfizer’s OTC basket in India.
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| J&J Worldwide has agreed to buy $3.9-billion OTC medicines business of Pfizer for $16.6 billion. GlaxoSmithKline Plc and Reckitt Benckiser Plc were the other bidders.
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| In India, J&J is one of the most comprehensive manufacturer of healthcare products, selling more than 100 different products in the consumer, pharmaceutical and professional markets. The company is the largest babycare products outfit in India. Its total revenue from the OTC business is not known.
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| J&J executives in India said that it was too early to comment on the combined business perspective in India as they were yet to receive the details of the acquisition deal from the parent company.
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| Pfizer India spokesperson said: “Over the next few months, Pfizer India will evaluate the impact of this deal on its India consumer health business. We will make an announcement thereafter.”
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| According to industry analysts, Pfizer’s OTC business in India contributed about 20 per cent of its total sales of Rs 639.55 crore for the year ended November 30, 2005.
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| A latest release from Pfizer Inc, quoting its chairman Hank McKinnell, said it has reached a definitive agreement to sell its
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| Pfizer Consumer Healthcare (PCH) business to Johnson & Johnson for $16.6 billion in cash, resulting in about $13.5 billion in after-tax proceeds.
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| The deal will consolidate J&J’s position as the world’s largest supplier of OTC medicines, by adding brands such as Listerine mouthwash, Sudafed decongestant and Rolaids antacid of Pfizer in particular.
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| The other global OTC brands J&J include painkiller Tylenol, Neutrogena skin products and Johnson’s baby shampoo globally. |
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