Pfizer plans to transfer exclusive license to J&J for Rs 215 cr

Pfizer Ltd has decided to transfer its exclusive license to Johnson & Johnson Ltd (J&J) in respect of the trademarks relating to Benadryl, Caladryl, Benylin and Listerine and certain assets related thereto, for a total consideration of Rs 214.85 crore and in connection therewith the execution of the Asset Transfer Agreement.The board of directors also granted its approval to the company providing to Johnson & Johnson Ltd, certain transitional services and in connection therewith the execution of the transitional services agreement.