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Chattem/J&J deal closes

This article was originally published in The Tan Sheet

Executive Summary

Chattem announces Jan. 2 it closed its agreement to acquire the U.S. rights to ACT, Unisom, Cortizone, Kaopectate and Balmex brands for $410 mil. in cash. The acquired brands were divested in connection with J&J's acquisition of Pfizer's Consumer Healthcare business (1"The Tan Sheet" Dec. 18, 2006, p. 9 and 2"The Tan Sheet" Oct. 9, 2006, p. 6). "We are very excited to add these leading brands to the company's existing portfolio of quality products," Chattem CEO and Chairman Zan Guerry says. In related news, Standard & Poor's says Chattem will replace Fidelity Bankshares in the S&P SmallCap 600 index after the close of trading Jan. 5...

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