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Pharmaceutical

Johnson & Johnson Acquiring OTC of J B Chemicals of Russia

May 23, 2011
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The Associated Press reports, Johnson & Johnson said that its Cilag GmbH unit will expand its business in Russia by buying the over-the-counter brands of J B Chemicals & Pharmaceuticals Ltd. for $260 million in cash. J B Chemicals sells Rinza, the leading multi-symptom cough and cold brand in the country, along with Doktor Mom, the number two cough medicine. A Johnson & Johnson division will market those products in Russia, which is the eighth-largest over-the-counter drug market in the world, and in the former Soviet Union. The acquisition is expected to close in the middle of the year.

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