Advertisement
Under terms of the agreement, Amgen will pay Ortho Biotech $200 million.The after-tax gain of approximately $120 million is expected to be recorded inthe results of operations for Johnson & Johnson for the third quarter of 2008.
Advertisement
Ortho Biotech is pleased with the agreement and the pending litigation inNew Jersey District Court will be dismissed with prejudice.
About Ortho Biotech Products, L.P.
Ortho Biotech Products, L.P. is a leading biopharmaceutical companydevoted to helping improve the lives of patients with cancer and with anemiadue to multiple causes, including chronic kidney disease. Since it wasfounded in 1990, Ortho Biotech and its worldwide affiliates have earned aglobal reputation for researching, manufacturing and marketing innovativeproducts that enhance patients' health. Located in Bridgewater, N.J., OrthoBiotech is an established market leader in Epoetin alfa therapy for anemiamanagement. The company also markets treatments for recurrent ovarian cancer,rejection of transplanted organs and other serious illnesses. For moreinformation, visit www.orthobiotech.com.
Forward-Looking Statement
This press release contains "forward-looking statements" as defined in thePrivate Securities Litigation Reform Act of 1995. These statements are basedon current expectations of future events. If underlying assumptions proveinaccurate or unknown risks or uncertainties materialize, actual results couldvary materially from the Company's expectations and projections. Risks anduncertainties include general industry conditions and competition; economicconditions, such as interest rate and currency exchange rate fluctuations;technological advances and patents attained by competitors; challengesinherent in new product development, including obtaining regulatory approvals;domestic and foreign health care reforms and governmental laws andregulations; and trends toward health care cost containment. A further listand description of these risks, uncertainties and other factors can be foundin Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K for the fiscalyear ended December 30, 2007. Copies of this Form 10-K, as well as subsequentfilings, are available online at www.sec.gov, www.jnj.com or on request fromJohnson & Johnson. The Company does not undertake to update any forward-looking statements as a result of new information or future events ordevelopments.
SOURCE Johnson & Johnson
