Johnson & Johnson Completes Acquisition Of Cougar

Johnson & Johnson has completed its acquisition of Cougar. Johnson & Johnson’s tender offer for shares of Cougar common stock expired on July, 9, 2009, with approximately 20,148,930 shares tendered. It represented approximately 95.9% of Cougar’s outstanding common stock.

The acquisition was completed yesterday through a short-form merger, without a vote or meeting of Cougar Biotechnology’s remaining shareholders.

Cougar now operates as a wholly-owned subsidiary of Johnson & Johnson and will work with Ortho Biotech Oncology Research & Development, a unit of Centocor Research & Development (a Johnson & Johnson company).

William Hait, Head, Global Therapeutic, Oncology, Ortho Biotech Oncology Research & Development, said: “With the acquisition of Cougar Biotechnology and its talented team, we have strengthened our position in the global oncology market and our efforts to provide a meaningful difference in the lives of millions of patients worldwide.

“Abiraterone acetate now becomes one of many new treatments we are developing, which we hope will change the course of cancer treatment by targeting cancer cells and the tumor microenvironment,” he added.