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Johnson & Johnson applies to acquire Pfizer Inc

Media Release


Issued 5 October 2006/049

Johnson & Johnson applies for clearance to acquire Pfizer Inc.

The Commission has received an application from Johnson & Johnson (J&J) to acquire the stock, assets and business of the Consumer Healthcare division of Pfizer Inc.

This is a global acquisition. In New Zealand both parties supply a broad range of pharmaceutical and personal care products.

J&J is listed on the New York Stock Exchange. Its activities are divided into three business segments: consumer; pharmaceutical; and medical devices and diagnostics. In New Zealand, the consumer and medical devices businesses are operated by Johnson & Johnson (New Zealand) Limited, a local company, and the pharmaceutical division is operated by Janssen-Cilag Pty Limited, an Australian company.

Pfizer Inc. is listed on the New York, London, Euronext and Swiss stock exchanges. It manufactures and sells drugs for human and animal consumption as well as other consumer healthcare products. In New Zealand Pfizer Inc. operates through Pfizer New Zealand Limited.

In considering the application, the Commission’s role is to determine whether the acquisition has the effect of substantially lessening competition in a market.

A public version of the application will shortly be available on the Commission’s website www.comcom.govt.nz under Public Registers.

Media contact: Jacqui Martin, Senior Communications Adviser
Phone work (04) 924 3709, mobile 027 524 3709

Commission media releases can be viewed on its web site www.comcom.govt.nz

Ends

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