Pharma BD Deal Intelligence

Johnson & Johnson / Neutrogena

1994 · Acquisition/Merger · $924M · Complete

WRONG BY 27 POINTS
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Top 25 largest deals of the 1990s

Ranks computed across 828 graded deals (Critic + Outcome Score both present).

The coverage arc

Aug 22, 1994 Johnson & Johnson Form 8-K Neutral

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…

Aug 23, 1994 Roanoke Times Bullish

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…

Aug 23, 1994 Tampa Bay Times (St. Petersburg Times) Bullish

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.

Key facts

Related deals — scored

DealYearValueOutcome
Johnson & Johnson / Neutrogena (this deal)1994$924M48
Johnson & Johnson / Legend Biotech Corporation2017$9.0B96
Johnson & Johnson / Centocor Inc.1999$4.9B92
Johnson & Johnson / Cougar Biotechnology, Inc.2009$970M91
Johnson & Johnson / Actelion Ltd2017$30.0B90
Johnson & Johnson / Aragon Pharmaceuticals Inc.2013$1.0B89
Johnson & Johnson / Legend Biotech Corporation2017$350M83

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