Johnson & Johnson (JNJ:US) and Sanofi (SAN) declined to provide information on a transaction between the two companies that won the approval of U.S. antitrust regulators.
A deal with J&J, its McNeil-PPC, Inc. subsidiary that makes over-the-counter medicines such as Tylenol and personal care products, and Sanofi was authorized by regulators, according to an early termination notice posted today on the Federal Trade Commission (FTC:US)’s website. No details were given by the agency about the transaction.
“We have no additional information and do not comment on pending business development activities,” said Peggy Ballman, a spokeswoman for New Brunswick, New Jersey-based J&J, the world’s biggest maker of health-care products. Marisol Peron, a spokeswoman for Paris-based Sanofi, also declined to comment on the transaction.
“Sanofi certainly has interest in over-the-counter brands, but they’re a small player, especially in the U.S.,” Jeff Jonas, co-portfolio manager of the Gabelli Healthcare & Wellness Trust fund, said in an e-mail. “J&J is constantly reviewing its products/brands and divesting anything that doesn’t have good growth prospects or that they view as non-core.”
Jonas said he doesn’t have any specifics on the deal.
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