SKILLMAN, N.J., April 26, 2016 /PRNewswire/ -- Johnson &
Johnson Consumer Inc. (NYSE: JNJ) announced today that it has
entered into a definitive agreement to acquire NeoStrata Company,
Inc., a global leader in dermocosmetics. The acquisition will
include NeoStrata's affiliates and parent company TriStrata,
Incorporated, a privately-held company. Financial terms were
not disclosed.
NeoStrata, based in Princeton,
N.J., has a history of innovation that includes breakthrough
research in Alpha hydroxy acids, which have become a standard among
anti-aging technologies in the beauty category. The Company
develops and markets a range of clinically-proven,
dermatologist-developed, skin care products that meet the needs of
every skin type.
"Drs. Ruey Yu and Eugene Van Scott formed NeoStrata in 1988 and
continue to make significant contributions to the science of
skincare. NeoStrata's legacy in dermocosmetics will
complement our global Consumer portfolio and enable us to deliver
advanced skin care brands to consumers around the world," said
Jorge Mesquita, Worldwide Chairman,
Consumer, Johnson & Johnson. "NeoStrata and Johnson &
Johnson share a strong history of innovation and together we will
work to discover important new skin care solutions grounded in deep
human insights and compelling science. We look forward to
working closely with NeoStrata's distributors around the world and
having their outstanding team of employees join Johnson &
Johnson Consumer later this year."
The acquisition is subject to clearance under the
Hart-Scott-Rodino Antitrust Improvements Act and other customary
closing conditions and expected to close in the first half of
2016.
About Johnson & Johnson Consumer Inc.
Johnson
& Johnson Consumer Inc., based in Skillman, N.J., is one of the world's largest
consumer health and personal care products company. Our
consumer companies produce many of the world's most trusted brands,
among them JOHNSON'S® Baby, BAND-AID®,
NEUTROGENA®, TYLENOL®, MOTRIN®,
and LISTERINE®. Each one of our consumer
businesses embraces innovative science to create products that
anticipate consumer needs and create experiences that help them
live healthy, vibrant lives.
Cautions Concerning Forward-Looking Statements
This
press release contains "forward-looking statements" as defined in
the Private Securities Litigation Reform Act of 1995 regarding the
potential acquisition of NeoStrata Company, Inc. and its
affiliates. The reader is cautioned not to rely on these
forward-looking statements. These statements are based on current
expectations of future events. If underlying assumptions prove
inaccurate or known or unknown risks or uncertainties materialize,
actual results could vary materially from the expectations and
projections of Johnson & Johnson Consumer Inc. and Johnson
& Johnson. Risks and uncertainties include, but are not limited
to: the satisfaction of closing conditions for the acquisition,
including clearance under the Hart-Scott-Rodino Antitrust
Improvements Act; the possibility that the transaction will not be
completed in the expected timeframe or at all; the potential that
the expected benefits and opportunities of the acquisition, if
completed, may not be realized or may take longer to realize than
expected; uncertainty of commercial success for new or existing
products; challenges inherent in new product research and
development; economic conditions, including currency exchange and
interest rate fluctuations; competition, including technological
advances, new products and patents attained by competitors;
challenges to patents; changes to applicable laws and regulations,
including global health care reforms; and changes in behavior and
spending patterns or financial distress of purchasers of health
care products and services. In addition, if and when the
transaction is consummated, there will be risks and uncertainties
related to the ability of Johnson & Johnson Consumer Inc. to
successfully integrate the products and employees of NeoStrata
Company, Inc. and its affiliates, as well as the ability to ensure
continued performance or market growth of their products. A further
list and description of these risks, uncertainties and other
factors can be found in Johnson & Johnson's Annual Report on
Form 10-K for the fiscal year ended January
3, 2016, including in Exhibit 99 thereto, and the company's
subsequent filings. Copies of these filings are available online
atwww.sec.gov, www.jnj.com or on request from Johnson &
Johnson. Neither Johnson & Johnson Consumer Inc. nor Johnson
& Johnson undertakes to update any forward-looking statement as
a result of new information or future events or developments.
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SOURCE Johnson & Johnson