This Healthcare Company Ditches its Partnership with Merck

Johnson & Johnson (NYSE:JNJ) coughed up $175 million to extricate itself from a partnership with Merck (NYSE:MRK) to manufacture various over-the-counter drugs.  Johnson & Johnson’s press release can be found here and Merck’s can be found here.

Johnson & Johnson‘s shares are trading at $64.03, up $0.78, or 1.23%, on the day, and have traded in a 52-week range of $57.50 to $68.05.  Its market capitalization is $175.46 billion.  About the company: Johnson & Johnson manufactures health care products and provides related services for the consumer, pharmaceutical, and medical devices and diagnostics markets. The Company sells products such as skin and hair care products, acetaminophen products, pharmaceuticals, diagnostic equipment, and surgical equipment in countries located around the world.

Merck‘s shares are trading at $32.50, up $0.54, or 1.69%, on the day, and have traded in a 52-week range of $29.47 to $37.68.  Its market capitalization is $100.13 billion.  About the company: Merck & Co., Inc. is a global pharmaceutical company that discovers, develops, manufactures, and markets a broad range of human and animal health products. Merck’s products include a treatment for elevated cholesterol, a treatment for male pattern hair loss, a preventive treatment for osteoporosis, a treatment for hypertension, and a treatment for allergic rhinitis.

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