reached an agreement with
Johnson & Johnson
to buy the U.S. rights to over-the-counter heartburn treatment Zantac for $509.5 million.
The pharmaceutical giants are unloading the drug to help facilitate antitrust approval of Johnson & Johnson's acquisition of Pfizer's consumer health care unit. J&J agreed in June to acquire the consumer health business, which includes brands such as Listerine mouthwash and Lubriderm lotion, for roughly $16.6 billion.
J&J and Pfizer have already agreed to sell other brands; last week the companies announced a deal to sell five products to
The Zantac transaction is subject to approval by the Federal Trade Commission and the closing of J&J's purchase of the Pfizer businesses.