The Commerce Commission has cleared Johnson & Johnson to acquire the stock, assets and business of the Consumer Healthcare division of Pfizer Inc.

Commission Chair Paula Rebstock said that the Commission was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in any of the relevant markets.

Johnson & Johnson is listed on the New York Stock Exchange. Its activities are divided into three business segments: consumer; pharmaceutical; and medical devices and diagnostics. In New Zealand, the consumer and medical devices businesses are operated by Johnson & Johnson (New Zealand) Limited, a local company, and the pharmaceutical division is operated by Janssen-Cilag Pty Limited, an Australian company.

Pfizer Inc. is listed on the New York, London, Euronext and Swiss stock exchanges. It manufactures and sells drugs for human and animal consumption as well as other consumer healthcare products. In New Zealand Pfizer Inc. operates through Pfizer New Zealand Limited.

A public version of the written decision will be available as soon as practicable on the Clearances Register.