Chattem Announces Agreement to Acquire Remaining Worldwide Rights to ACT(R) from Johnson & Johnson

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Chattem, Inc. (NASDAQ: CHTT) – a leading marketer and manufacturer of branded consumer products, today announced that it has entered into an agreement to acquire the rights to ACT®, a branded over-the-counter (“OTC”) anti-cavity mouthwash/mouth rinse, in Western Europe together with worldwide trademark rights from Johnson & Johnson for $4.1 million in cash plus certain assumed liabilities. The transaction has received the approval of the European Commission, and subject to certain closing conditions, is expected to close towards the end of May 2007.

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