Pharma BD Deal Intelligence

Johnson & Johnson / Pfizer Consumer Healthcare

2006 · Acquisition/Merger · $16.6B · Complete

CALLED IT — OFF BY 7

Strong initial integration soured by a decade-long quality crisis, and the whole consumer unit was ultimately spun off into a stock that has underperformed

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Top 25 largest deals of the 2000s

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

The coverage arc

Jun 26, 2006 FierceHealthcare Neutral

J&J's $16.6B acquisition of Pfizer's consumer health unit reflected drugmakers' search for secure revenue streams amid approaching patent expirations, though…

Dec 19, 2006 Federal Trade Commission Neutral

FTC required divestitures in OTC H-2 blockers (Zantac to Boehringer Ingelheim), hydrocortisone anti-itch, night-time sleep aids, and diaper rash treatments to…

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Consumer health (Listerine, Nicorette, Sudafed, Benadryl, Neosporin); borderline - consumer/OTC scope; closed 2006-12-20

Did it work? Outcome assessment

Strong initial integration soured by a decade-long quality crisis, and the whole consumer unit was ultimately spun off into a stock that has underperformed

Strategic verdict
Partially Achieved

Key facts

Related deals — scored

DealYearValueOutcome
Johnson & Johnson / Pfizer Consumer Healthcare (this deal)2006$16.6B56
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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