The $62-billion US healthcare giant Johnson & Johnson (J&J) is selling its St Joseph's aspirin brand belonging to its troubled unit McNeil Consumer Healthcare to Ilex Consumer Products Group, for an undisclosed sum.
St Joseph's aspirin is an iconic brand with a 145-year history and a 90-per cent consumer brand awareness rating. The brand was created by the Gerstle Medicine Co. of Chattanooga and Tennessee-based Plough Inc, which acquired the brand in 1920.
In 2000, McNeil Consumer Healthcare acquired St Joseph's aspirin from Schering-Plough.
St Joseph's low dose aspirin, which was sold as an over the counter product for children, is now being used as aspirin by adults with heart problems.
Colombia, Maryland-based private equity firm JPB Capital Partners has made an equity investment in Ilex to fund the acquisition of St Joseph's aspirin brand.
Baltimore-based Ilex was formed in 2008 and currently owns and markets the Calgon line of bath and body beauty products and the botanical and organic bath and body care products Healing Garden brands.