Sanofi buys Rolaids from J&J's McNeil Consumer Healthcare unit

Sanofi said Monday it bought Rolaids antacid brand products from the McNeil Consumer Healthcare Unit of Johnson & Johnson.

The company did not reveal a price in its Monday morning announcement.

McNeil Consumer Healthcare is based in Fort Washington, Montgomery County, and is under the umbrella of McNeil, PPC, which is part of J&J's consumer branch.

Sanofi aventis is based in Paris and is one of the world's largest pharmaceutical companies. Sanofi's Chattem division, based in Chattanooga, Tenn., will take over selling Rolaids. Sanofi has facilities in New Jersey and Pennsylvania.

"The addition of Rolaids represents a rare opportunity to obtain an iconic brand that we believe will respond positively to our proven approach of growing brands through innovation and advertising," Zan Guerry, chief executive officer of Chattem said in a statement. "We are primed to leverage the Rolaids market opportunity to drive incremental growth and take the brand to a new level."

In late December, the Federal Trade Commission approved the sale, thought the companies declined to say at that time what products were changing hands.