Johnson & Johnson acquired Pfizer's consumer health unit in a deal valued at $16.6 billion. The acquisition gives J&J control of well-known consumer brands belonging to the company, including the pain relief cream Ben-Gay, the cold medicine Sudafed and Visine eye drops. Analysts warn that a last-minute bid from Glaxo could still upset the deal. Facing the approaching loss of patented drugs, a number of drug companies are attempting to move into consumer healthcare in their search for secure revenue streams.
- see this article from The Wall Street Journal (sub. req.)