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A $924 million cash tender offer (roughly a 63% premium) that gave Johnson & Johnson the dermatologist-recommended Neutrogena skin-care brand for its consumer-health portfolio.
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J&J entered an agreement to acquire for a net price of approximately $924 million all outstanding shares of Neutrogena common stock through a $35.25 per share…
Neutrogena goes for $924 million at $35.25 per share; Moody's validated the deal, saying J&J could handle the borrowing and the companies' strengths appear…
Moody's said J&J could handle the borrowing, and the strengths of each company appear to be complementary; the $35.25 per share bid represented roughly a…
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Johnson & Johnson acquired Neutrogena for approximately $924 million, or $35.25 per share in cash (roughly a 63% premium), through a cash tender offer and subsequent merger in 1994. The acquisition added the dermatologist-recommended skin-care brand to J&J's consumer-health portfolio.
$5.0B US Skincare Market (1994)
Johnson & Johnson acquired Neutrogena for $924M ($35.25/share) in 1994, gaining a premium dermatologist-recommended skincare brand known for its signature transparent glycerine soap bar. Neutrogena had established strong credibility with dermatologists and consumers through its gentle, fragrance-free formulations.
Under J&J's global distribution network, Neutrogena expanded from a niche premium brand to a global skincare powerhouse present in over 70 countries. The brand leveraged J&J's international infrastructure to enter markets including India, China, and South Africa, maintaining its premium positioning and dermatological credibility.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Johnson & Johnson / Neutrogena (this deal) | 1994 | $924M | 48 |
| Johnson & Johnson / Legend Biotech Corporation | 2017 | $9.0B | 96 |
| Johnson & Johnson / Centocor Inc. | 1999 | $4.9B | 92 |
| Johnson & Johnson / Cougar Biotechnology, Inc. | 2009 | $970M | 91 |
| Johnson & Johnson / Actelion Ltd | 2017 | $30.0B | 90 |
| Johnson & Johnson / Aragon Pharmaceuticals Inc. | 2013 | $1.0B | 89 |
| Johnson & Johnson / Legend Biotech Corporation | 2017 | $350M | 83 |
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More: 1994 deals · Johnson & Johnson deals · Dermatology deals