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Johnson & Johnson Announces Sale of Elan American Depositary Shares to Elan
Date:4/18/2013

NEW BRUNSWICK, N.J., April 18, 2013 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced the sale to Elan Corporation, plc of approximately 82 million American Depositary Shares (ADS) of Elan held by Janssen Pharmaceutical (Janssen), an affiliate of Johnson & Johnson.  This sale took place in accordance with the "Dutch Auction" tender offer commenced by Elan on March 11, 2013.  The aggregate proceeds are expected to be received on or before April 30, 2013.

Janssen will receive $11.25 per ADS which will result in an after-tax gain of approximately $213 million and will be recorded by Johnson & Johnson in the second quarter. The Company expects to invest this gain in the business. It is not expected to impact earnings per share guidance for full-year 2013 which was previously announced on April 16, 2013.

About Johnson & Johnson
Caring for the world, one person at a time…inspires and unites the people of Johnson & Johnson. We embrace research and science - bringing innovative ideas, products and services to advance the health and well-being of people. Our approximately 128,000 employees at more than 275 Johnson & Johnson operating companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.

(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events.  If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Janssen Pharmaceutical and/or Johnson & Johnson.  Risks and uncertainties include, but are
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