• Adweek, Monday, June 4, 2007 10 AM

Carat is one of the finalists in Johnson & Johnson's $3 billion global media review, according to insiders, but the agency is only after the European and Asian portions of the business. Others still in the running include OMD, pitching the entire global account; Universal McCann; and Initiative. The last two, both owned by Interpublic, are coordinating efforts. The former is J&J's North American incumbent and wants to keep the account, while Initiative is pursuing the rest. Earlier this month, MindShare bailed out of the review.

Pitches are being made in more than two dozen countries as part of the process, with final presentations expected the week of June 18 and a decision by early July. Insiders says it makes sense for Carat to avoid the U.S. business. When J&J acquired Pfizer's consumer healthcare division last year, it stripped the shop of planning and buying duties; but in Europe, it is one of the strongest media agencies in the market. New Brunswick, N.J.-based J&J spends over $2 billion annually on U.S. measured media and approximately $3 billion globally.

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