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J&J-MERCK BUYS OTC PRESENCE IN FRANCE WITH ACQUISITION OF J. P. MARTIN

This article was originally published in The Tan Sheet

Executive Summary

J&J-MERCK BUYS OTC PRESENCE IN FRANCE WITH ACQUISITION OF J. P. MARTIN, a Paris-based over-the-counter drug manufacturer and marketer, Johnson & Johnson-Merck Consumer announced Dec. 9. The OTC joint venture said it expected to close the deal during the first quarter of 1994, following French regulatory review. Terms of the acquisition were not disclosed. With its acquisition of Laboratoires J. P. Martin, Johnson & Johnson-Merck enters its fourth European market and the second largest OTC market in Europe after Germany. Since establishing a European joint venture in 1991, J&J-Merck has set up operations in Germany, Spain, and the U.K. Founded in 1973 by Jean Paul Martin, Laboratoires J. P. Martin posted 1992 sales of approximately $ 20 mil. and presently employees about 100 people. The company has research and manufacturing facilities in Bessay, France. Current company head Jean-Paul Martin will continue to direct operations under the terms of the agreement. The company will retain its name. J. P. Martin's major products are sold in the gastrointestinal, cough/cold and analgesic categories, J&J-Merck said. They include proctology products Titanoreine and Anoreine; expectorants Bronchiathol and Bronchalene; the flu medicine Rhinofebral; the analgesic Migralgine; and the decongestant Rectophedrol. J&J-Merck predicted that the "product capabilities, regulatory expertise, and experienced and effective management team of Laboratoires J. P. Martin will allow our joint venture to quickly establish a presence in France." The joint venture indicated that it intended to introduce some of its own proprietaries into the French market under J. P. Martin, which would handle marketing and possibly manufacturing of the product.
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