Chattem’s ACT goes global

Executive Summary

The Chattanooga, Tenn.-based firm announces an agreement May 7 to acquire the Western Europe rights to ACTas well as worldwide trademark rights from Johnson & Johnson for $4.1 mil. plus certain assumed liabilities. The European Commission approved the transaction and the deal is expected to close in late May. J&J is divesting ACT as a condition of the EC's approval of J&J's Pfizer Consumer Healthcare acquisition and "certain regulatory requirements in connection with the acquisition in Greece," the firm says. Chattem acquired ACT and five other OTC brands from J&J/Pfizer in January 2007 (1"The Tan Sheet" Feb. 19, 2007, p. 10)...