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Johnson & Johnson Acquisition of Pfizer Consumer Healthcare Receives Clearance from U.S. Federal Trade Commission (FTC)
Dec 12, 2006

NEW BRUNSWICK, N.J., Dec 12, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Johnson & Johnson (NYSE: JNJ) today announced that the U.S. Federal Trade Commission (FTC) has cleared the Company's proposed acquisition of Pfizer Consumer Healthcare. In addition to FTC clearance, Johnson & Johnson also received clearance from The European Commission on December 11, 2006. Johnson & Johnson announced the agreement to acquire Pfizer Consumer Healthcare in June 2006 for $16.6 billion in an all cash transaction. The transaction is expected to close by year-end.

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 115,700 men and women in 57 countries and sell products throughout the world.

(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from the Company's expectations and projections. Risks and uncertainties include general industry conditions and competition; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of the Company's Annual Report on Form 10-K for the fiscal year ended January 1, 2006. Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov or on request from the Company. The Company does not undertake to update any forward-looking statements as a result of new information or future events or developments.)

SOURCE Johnson & Johnson

Media Contact: Jeffrey J. Leebaw, +1-732-524-3350, or Marc Monseau, +1-732-524-1130,
or Investor Contacts: Louise Mehrotra, +1-732-524-6491, or Stan Panasewicz,
+1-732-524-2524, or Lesley Fishman, +1-732-524-3922, all of Johnson & Johnson

Copyright (C) 2006 PR Newswire. All rights reserved

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