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news.Johnson & Johnson has announced that the Federal Trade Commission has cleared its proposed acquisition of Pfizer Consumer Healthcare.
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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.