Chattem Completes Purchase of Several J&J Brands

2007-01-02 | 01:48

Chattem, Inc. a leading marketer and manufacturer of branded consumer products, today announced the closing of its previously announced agreement to acquire the U.S. rights to five leading consumer and over-the-counter brands from Johnson & Johnson for $410 million in cash.

With the acquisition, Chattem's diverse portfolio of high quality brands has now been expanded to include the following additional brands: Act, an anti-cavity mouthwash/mouth rinse; Uunisom, an OTC sleep aid; Cortizone, a hydrocortisone anti-itch product; Kaopectate, an anti-diarrhea product; and Balmex, a diaper rash product. The acquired brands were divested in connection with the recent acquisition by Johnson & Johnson of Pfizer Inc.'s Consumer Healthcare business and certain regulatory requirements in connection with that acquisition.

"We are very excited to add these leading brands to the company's existing portfolio of quality products," said Zan Guerry, chairman and chief executive officer of Chattem. "With the tremendous cooperation of Johnson & Johnson and Pfizer Inc., we have worked very hard over the past several months to help ensure a smooth transition of ownership and remain very excited about the growth potential of these brands."