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news.Merck, a global healthcare provider has sold 50% interest in the Johnson & Johnson'Merck Consumer Pharmaceuticals' joint venture (JJMCP) to Johnson & Johnson (J&J) affiliates for a one-time payment of $175m.
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The affiliates of J&J include McNEIL-PPC, McNEIL MMP, LLC, and Johnson & Johnson.
Following the agreement, J&J will own the venture’s assets which comprise exclusive rights to market OTC Pepcid, Mylanta, Mylicon and other local OTC brands currently sold in the US and Canada. The partnership assets comprise a manufacturing facility in Lancaster, PA.
Merck can also improve operations in the OTC consumer sector, with the termination of the JJMCP venture enabling the company to actively pursue OTC licensing activities in the US and Canada.
According to the company, the transaction will not affect Merck’s rights to the Pepcid brand outside the US and Canada.