Johnson & Johnson has completed its acquisition of 3-Dimensional Pharmaceutical Inc, 3DP. The transaction was announced on January 16, 2003. Under the terms of the transaction, 3DP shareholders will receive $5.74 for each outstanding 3DP share. The transaction, which is valued at approximately $88 million, net of cash, is not expected to have a material impact on revenues or earnings of Johnson & Johnson.

3DP will operate as part of Johnson & Johnson Pharmaceutical Research and Development, L.L.C. The company applies the latest techniques in high throughput screening, combinatorial chemistry, X-ray crystallography, structure-based drug design and cheminformatics to discover and develop new drugs in the areas of oncology, inflammation, metabolic and cardiovascular diseases.

Johnson & Johnson, with approximately 108,300 employees, is the world's most comprehensive and broadly based manufacturer of health care products, as well as a provider of related services, for the consumer, pharmaceutical, and medical device and diagnostic markets. Johnson & Johnson has more than 200 operating companies in 54 countries around the world, selling products in more than 175 countries.