J&J-Merck

Johnson & Johnson-Merck Consumer Pharmaceuticals was a prominent joint venture established in 1989 between Johnson & Johnson and Merck & Co. The partnership was primarily focused on developing and marketing over-the-counter (OTC) versions of Merck's prescription medications, most notably the H2 antagonist Pepcid (famotidine). The venture also managed other well-known consumer brands such as Mylanta. In 2011, Johnson & Johnson acquired Merck's remaining interest in the joint venture's U.S. operations for $175 million. This transaction was triggered by a change-of-control provision following Merck's merger with Schering-Plough. Today, the products formerly managed by the JV are part of Kenvue, the consumer health spin-off from Johnson & Johnson.