Johnson & Johnson - proposed acquisition of Pfizer Inc's consumer healthcare business
Type of assessment
Informal Review
Reference
24931
Acquirer(s)
Johnson & Johnson Inc
Target(s)
Pfizer Inc
Industry
Consumer healthcare
Summary
Johnson & Johnson - proposed acquisition of Pfizer Inc's consumer healthcare business
Outcome of assessment
Not opposed subject to undertakings
Total review days *
40
Commenced public review
4th October 2006
Date completed
21st December 2006
Market definition
The proposed acquisition was considered in relation to the supply in Australia of:
1. worm treatments;
2. anti-diarrhoeals; and
2. nicotine replacement therapy products.
Competition analysis
The ACCC decided not to oppose the proposed acquisition subject to section 87B undertakings being provided by Johnson & Johnson and Pfizer Inc. The reasons for the ACCC's decision are set out in the Public Competition Assessment relating to this matter.
Public competition assessment
Public Competition Assessment. 22nd February 2006 D07+17006.pdf (598.1 KB)
Statement of issues
Statement of Issues. 28th November 2006 D06+82700.pdf (548.8 KB)
Undertakings
Final Johnson & Johnson 87B Undertakings 21st December 2006 D06+89417.pdf (2.7 MB)
Final Pfizer Inc 87B Undertakings 21st December 2006 D06+89112.pdf (211.2 KB)
The Australian Competition and Consumer Commission has accepted a divestiture proposal offered by...
Issued: 22nd December 2006 Release # MR 327/06
Review timeline
Date
Event
4th October 2006
ACCC received submission from Johnson & Johnson. ACCC commences review under the Merger Review Process Guidelines. Market inquiries commence.
11th October 2006
ACCC requested further information from Johnson & Johnson. Indicative timeline suspended pending receipt of Johnson & Johnson's response.
16th October 2006
ACCC received Johnson & Johnson's response to ACCC information request of 11 October.
18th October 2006
Johnson & Johnson advised intention to make submission to ACCC addressing possible competition effects.
20th October 2006
Closing date for submissions from interested parties.
1st November 2006
ACCC received submission from Johnson & Johnson addressing possible competition effects.
6th November 2006
Proposed date for announcement of ACCC's findings (30 November 2006) delayed pending the resolution of Applicant's claim for confidentiality and related matters.
24th November 2006
Applicant's claim for confidentiality and related matters resolved. ACCC timeline recommenced.
28th November 2006
ACCC published Statement of Issues outlining its preliminary competition concerns.
11th December 2006
Closing date for submissions from interested parties responding to ACCC's Statement of Issues.
13th December 2006
Johnson & Johnson submitted s.87B Undertaking relating to its divestiture proposal for market inquiries by ACCC, and ACCC commenced market inquiries on Johnson & Johnson's proposed divestiture.
15th December 2006
Closing date for submissions from interested parties regarding Johnson & Johnson's proposed divestiture.
21st December 2006
ACCC accepted section 87B undertakings from Johnson & Johnson and Pfizer and announced it will not oppose the proposed acquisition.
* Total Review days = Total business days less public holidays and time during which the review was suspended.
