FTC approves J&J purchase of Pfizer unit

The Federal Trade Commission said it would not oppose the deal as long as the companies sell the drugs Zantac, Cortizone, Unisom and Balmex. Johnson & Johnson has acquired the PCH unit, Pfizer’s worldwide business division active in over-the-counter pharmaceuticals and personal care products.

In addition to Federal Trade Commission clearance, Johnson & Johnson also received clearance from The European Commission on December 11.

Johnson & Johnson announced the agreement to acquire Pfizer Consumer Healthcare in June 2006 for $16.6 billion in an all cash transaction. The transaction is expected to close by year-end.