日本経済新聞 2006/6/27

ファイザーから大衆薬事業買収 J&Jが発表

 米医薬品・健康関連大手のジョンソン・エンド・ジョンソン(J&J)は26日、同業のファイザーから大衆薬事業を買収すると正式発表した。買収額は166億ドル(約1兆9300億円)。J&Jは同事業で世界シェアトップで、ファイザーからの事業買収により同部門を一段と拡大する。
 ファイザー側は中核の医療用医薬品に経営資源を集中させる狙い。売却益は自社株購入に充てる。
 J&Jは売り上げが伸び悩んでおり、買収・合併による拡大を模索していた。口腔洗浄剤「リステリン」や禁煙補助剤「ニコレット」など有力商品を持つファイザーの大衆薬事業を手に入れることでテコ入れする。


2006/6/26 Johnson & Johnson           Pfizer発表  Pfizer方針

Johnson & Johnson to Acquire Pfizer Consumer Healthcare; Combination Creates World's Premier Consumer Health Care Company
All Cash Transaction is Valued at $16.6 Billion
http://www.jnj.com/news/jnj_news/20060625_220255.htm

Johnson & Johnson, the world's most comprehensive and broadly based manufacturer of health care products, today announced that it has entered into a definitive agreement to acquire Pfizer Consumer Healthcare for $16.6 billion in cash.

The Johnson & Johnson Board of Directors has given approval to the transaction. Closing is subject to customary clearances, including the
Hart-Scott-Rodino Antitrust Improvements Act and European Union merger control regulation. The transaction is expected to close by the end of 2006.

Pfizer Consumer Healthcare's global business of personal care and over-the-counter (OTC) products achieved
sales of $3.9 billion in 2005. Worldwide market-leading brands include LISTERINE oral care products and the NICORETTE line of smoking cessation treatments. Other widely recognized and trusted brands include LUBRIDERM, VISINE, NEOSPORIN, SUDAFED, ZANTAC and BENADRYL.

"This combination creates the world's premier consumer health care company," said William C. Weldon, Chairman and Chief Executive Officer of Johnson & Johnson. "Our consumer business has a long tradition of outstanding performance and a proven track record in growing consumer brands at above-category levels through innovation. This acquisition builds upon our broad base in health care products and our leadership objectives in the consumer, pharmaceutical and medical devices and diagnostics markets."

The Pfizer Consumer Healthcare business adds a diverse portfolio of strong, growing, enduring brands that provide Johnson & Johnson with l
eadership positions in nine additional categories, including large new segments such as smoking cessation and mouthwash.

The addition of LISTERINE, the world's #1 mouthwash, transforms Johnson & Johnson's oral health care business by more than tripling it into a franchise well in excess of one billion dollars. It further expands the franchise presence in more than 60 markets.

The combined portfolio of OTC brands will solidify the global market-leading position of Johnson & Johnson's OTC franchise. Under the terms of the agreement, Johnson & Johnson will also acquire the
U.S. OTC switch rights to ZYRTEC - Pfizer's once-a-day, non-sedating prescription antihistamine抗ヒスタミン剤, upon patent expiration.

"We see the consumer health care markets as increasingly attractive growth opportunities as consumers take greater interest in and responsibility for their own health," Weldon said. "In addition, higher levels of disposable income in developing nations are helping drive increased demand for consumer health products."

The Pfizer Consumer Healthcare brands complement Johnson & Johnson's well-known consumer and OTC products, which include BAND-AID(R) Brand Adhesive Bandage, TYLENOL(R), REACH(R), SPLENDA(R) and the CLEAN & CLEAR(R), AVEENO(R) and NEUTROGENA(R) skin care brands. Johnson & Johnson is uniquely positioned to drive continued growth in Pfizer Consumer Healthcare's product portfolio and create new market opportunities through its proven capability of expanding enduring brands geographically and by bringing continuing scientific innovation into consumer brands.

"Being broadly based in health care allows us to leverage our expertise in science and technology across our businesses," Weldon said. "Through this acquisition, we look to benefit both from Pfizer Consumer Healthcare's excellent product portfolio and pipeline and from the valuable skills and experience of its employees."

The acquisition is expected to be accretive to Johnson & Johnson's earnings per share on a cash basis in 2009. The integration will provide significant opportunities to leverage the sales, administration and supply chain of both organizations globally. Additional commentary regarding the financial impact will be discussed during the conference call noted below.

Johnson & Johnson is the world's most comprehensive and broadly based manufacturer of health care products, as well as a provider of related services, for the consumer, pharmaceutical, and medical devices and diagnostics markets. The more than 230 Johnson & Johnson operating companies employ approximately 116,000 men and women in 57 countries and sell products throughout the world.


2006/6/26 Pfizer

Pfizer Reaches Agreement to Sell Its Consumer Healthcare Business to Johnson & Johnson for $16.6 Billion
http://mediaroom.pfizer.com/index.php?s=press_releases&item=73

Company Will Use After-Tax Proceeds to Invest in New Products and Innovative Technologies and Enhance Shareholder Returns
Pfizer Now Expects to Purchase up to $17 Billion in Stock in 2006-7
CEO McKinnell: 'We Have Taken Another Important Step to Create Value for Our Shareholders While Transforming Our Company'
Consumer Healthcare Colleagues 'Have Done a Superb Job in Building an Outstanding Business'

Pfizer Inc said today that it has reached a definitive agreement to sell its Pfizer Consumer Healthcare (PCH) business to Johnson & Johnson for $16.6 billion in cash, resulting in about $13.5 billion in after-tax proceeds.

The agreement, approved by the Pfizer Board of Directors, completes a review of strategic options for the consumer business that Pfizer initiated in February.


Hart-Scott-Rodino Antitrust Improvements Actの概要

HSR法は、一定の要件を満たす資産および議決権付株式の取得に適用。HSR法は手続法。同法は、事前届出制度と待機期間を規定。
現行のHSR法上の取引規模要件は、5,000万ドル。
HSR法による「当事者規模」要件は、一般に、取引の一方当事者が1億ドル以上の資産又は売上を有し、他方当事者が1,000万ドル以上の資産又は売上を有する場合。