Germany’s Merck is selling its consumer health unit to Procter & Gamble for around for 3.4 billion Euros.
Merck said last year that is was mulling over the future of its consumer health division, and that a sale would help it execute its science and technology focused strategy.
“Consumer Health is a strong business that deserves the best possible opportunities for its future development. With P&G we have found a strong, highly recognised player who has the necessary scale to successfully drive the business going forward.”
Merck said sales from its consumer health unit grew organically by 6 percent between 2015 and 2017, “outpacing the consumer health market’s growth of approximately 4 percent over the same period”. The business pulled in new sales of around $911 million last year.
The transaction, which is expected to close by the end of the fourth quarter 2018, is subject to regulatory approvals and other customary closing conditions.
Source- Pharma Times