Johnson & Johnson Announces Sale of Elan American Depositary Shares to Elan

 Johnson & Johnson Announces Sale of Elan American Depositary Shares to Elan

PR Newswire

NEW BRUNSWICK, N.J., April 18, 2013

NEW BRUNSWICK, N.J., April 18, 2013 /PRNewswire/ -- Johnson & Johnson (NYSE:
JNJ) today announced the sale to Elan Corporation, plc of approximately 82
million American Depositary Shares (ADS) of Elan held by Janssen
Pharmaceutical (Janssen), an affiliate of Johnson & Johnson. This sale took
place in accordance with the "Dutch Auction" tender offer commenced by Elan on
March 11, 2013. The aggregate proceeds are expected to be received on or
before April 30, 2013.

Janssen will receive $11.25 per ADS which will result in an after-tax gain of
approximately $213 million and will be recorded by Johnson & Johnson in the
second quarter. The Company expects to invest this gain in the business. It is
not expected to impact earnings per share guidance for full-year 2013 which
was previously announced on April 16, 2013.

About Johnson & Johnson
Caring for the world, one person at a time…inspires and unites the people of
Johnson & Johnson. We embrace research and science - bringing innovative
ideas, products and services to advance the health and well-being of people.
Our approximately 128,000 employees at more than 275 Johnson & Johnson
operating companies work with partners in health care to touch the lives of
over a billion people every day, throughout the world.

(This press release contains "forward-looking statements" as defined in the
Private Securities Litigation Reform Act of 1995. 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 unknown risks or uncertainties materialize, actual results could
vary materially from the expectations and projections of Janssen
Pharmaceutical and/or Johnson & Johnson. Risks and uncertainties include, but
are not limited to, general industry conditions and competition; economic
factors, such as interest rate and currency exchange rate fluctuations;
technological advances, new products and patents attained by competitors;
challenges inherent in new product development, including obtaining regulatory
approvals; challenges to patents; significant adverse litigation or government
action; impact of business combinations; financial distress and bankruptcies
experienced by significant customers and suppliers; changes to governmental
laws and regulations and domestic and foreign health care reforms; trends
toward health care cost containment; increased scrutiny of the health care
industry by government agencies; changes in behavior and spending patterns of
purchasers of health care products and services; financial instability of
international economies and sovereign risk; disruptions due to natural
disasters; manufacturing difficulties or delays; complex global supply chains
with increasing regulatory requirements; and product efficacy or safety
concerns resulting in product recalls or regulatory action. A further list and
description of these risks, uncertainties and other factors can be found in
Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K for the fiscal
year ended December 30, 2012. Copies of this Form 10-K, as well as subsequent
filings, are available online at www.sec.gov, www.investor.jnj.com  or on
request from Johnson & Johnson. Johnson & Johnson does not undertake to update
any forward-looking statements as a result of new information or future events
or developments.)

SOURCE Johnson & Johnson

Website: http://www.jnj.com
Contact: Press: Ernie Knewitz, (732) 524-6623, (917) 697-2318 (M), or Al
Wasilewski, (732) 524-1130, (732) 447-5918 (M); or Investors: Louise Mehrotra,
(732) 524-6491, or Stan Panasewicz, (732) 524-2524
 
Press spacebar to pause and continue. Press esc to stop.