E.U. Approves J&J Buyout Of Pfizer Unit

Law360, New York (December 12, 2006, 12:00 AM EST) -- European Union regulators cleared the way for Johnson & Johnson Co.’s acquisition of Pfizer Inc.’s consumer health care business Tuesday, approving the deal under the condition that J&J sell some of its assets in order to preserve competition.

“The transaction proposes a major restructuring of the over-the-counter pharmaceutical and personal care product segment in Europe. The remedies offered by J&J fully address the concerns we had identified…I am thus confident that these markets will remain competitive,” said Competition Commissioner Neelie Kroes.

J&J first announced that it...
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