J&J-MERCK ACQUIRE FRENCH OTC COMPANY

20 December 1993

The consumer joint venture of the two US drug companies Johnson & Johnson and Merck & Co is to acquire a French over-the-counter company, Laboratoires J P Martin. Terms of the agreement were not disclosed, but the deal should be concluded in the first quarter of 1994, once the French regulatory authorities have reviewed it.

The French company was founded by a pharmacist, Jean-Paul Martin, in 1973. It has around 100 employees and has its headquarters in Paris and research and manufacturing facilities in Bessay, France. J-P Martin focuses on gastrointestinal, cough and cold, and analgesic remedies. Sales in 1992 amounted to $20 million.

Mr Martin will continue to head the company under the terms of the agreement with J&J-Merck, and the company will retain its name, becoming the base of J&J-MSD development for self medication in France.

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