US-based pharmaceuticals and healthcare manufacturer Johnson & Johnson has signed an agreement to acquire therapeutic and cosmetic dermatological products manufacturer NeoStrata.
Under the agreement, Johnson & Johnson will acquire NeoStrata’s affiliates and parent company TriStrata.
The value of the deal has not been disclosed.
The acquisition is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions, and expected to close in the first half of 2016.
Based in Princeton, NeoStrata carries out antiaging research besides developing and marketing a range of dermocosmetics as well as other skin care products
Johnson & Johnson Consumer worldwide chairman Jorge Mesquita said: "Doctors Ruey Yu and Eugene Van Scott formed NeoStrata in 1988 and continue to make significant contributions to the science of skincare.
"NeoStrata’s legacy in dermocosmetics will complement our global Consumer portfolio and enable us to deliver advanced skincare brands to consumers around the world.
"NeoStrata and Johnson & Johnson share a strong history of innovation and together we will work to discover important new skincare solutions grounded in deep human insights and compelling science.
"We look forward to working closely with NeoStrata’s distributors around the world and having their outstanding team of employees join Johnson & Johnson Consumer later this year."
