over the counter

Johnson & Johnson Earnings Up, but Recalls Cut Guidance

Johnson & Johnson's earnings for the second quarter of 2010 rose 5.4% to $3.4 billion, or $1.23 per share, from $3.2 billion or $1.15 per share, the company announced Tuesday morning. Adjusted earnings, which exclude litigation costs, were $1.21 per share.

Sanofi-Aventis Buys Chattem, a Leader in Over-the-Counter Sales

Sanofi-Aventis announced Monday it will acquire Chattem Inc. for about $1.9 billion -- paying $93.50 per share, a 34% premium over Chattem's closing price Friday. The deal will create the world's fifth-largest consumer health-care company by revenues and helps Sanofi diversify into over-the-counter and consumer brands: a strategy used by Johnson & Johnson, and one many pharmas seek to adopt before the coming patent cliff.