March 16, 2011
On March 15, 2011, Elanco, the animal health division of Eli Lilly and Company (“Lilly”), announced that Lilly has made an irrevocable, unconditional offer to acquire the animal health business of Janssen Pharmaceutica NV, a Johnson & Johnson Company. Cravath represented Janssen Pharmaceutica in connection with this transaction. Financial terms were not disclosed. Headquartered in Beerse, Belgium, Janssen Pharmaceutica’s animal health business is primarily European-focused, targeting disease segments in companion animals and livestock. Closing of the transaction is contingent upon clearance from European regulatory authorities and is subject to other customary closing conditions.
The Cravath team included partner Robert I. Townsend and associates Benjamin P. Schaye, Jason S. Kollander and Katerina M. Novak on corporate matters; partner Andrew W. Needham and associate J. Leonard Teti II on tax matters; and partner Eric W. Hilfers and associates Jarrett R. Hoffman and Michael J. Schobel on executive compensation and benefits matters.
Deals & Cases
March 12, 2025
Cravath represented the underwriters in connection with the $5 billion registered notes offering of Johnson & Johnson, the world’s largest, most diversified healthcare products company. Cravath also represented the underwriters in connection with Johnson & Johnson’s concurrent €4 billion notes offering. Proceeds of both offerings will be used to finance the acquisition of Intra‑Cellular Therapies, Inc. by Johnson & Johnson. The transactions closed on February 20, 2025, and February 26, 2025, respectively.
Deals & Cases
October 12, 2023
On October 10, 2023, following a full trial on the merits and an appeal to the Delaware Supreme Court, Cravath client The Williams Companies, Inc. (“Williams”) secured a victory resulting in a judgment of more than $600 million.
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