7/27/2005

In a move marking one of the first major investments from a health care or pharmaceutical company in the Olympic Games, Johnson & Johnson announced a deal with China to become the official partner of the 2008 Beijing games. J&J avoided a $75 million payment to the International Olympic Committee by negotiating directly with the Chinese. The deal also makes J&J the official health care products sponsor of the 2006 Winter Olympics in Torino, Italy, and the official products partner of the U.S. Olympic Committee.

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