Published: Sun, April 22, 2018
Sport | By Fredrick Flores

P&G Acquires Merck KGaA Darmstadt Germany

P&G Acquires Merck KGaA Darmstadt Germany

German pharmaceutical- and chemicals producer Merck is selling its business with prescription-free medicines and dietary supplements to US consumer goods corporation Procter & Gamble, the Darmstadt-based company told press on Thursday.

"The divestment of the Consumer Health business is an important step in our strategic focus on innovation driven businesses within Healthcare, Life Science, and Performance Materials". The company has announced that the sale of its consumer health unit does not alter its business objective of selling the prescribed medicines such as Erbitux for treating cancer and Rebif for multiple sclerosis treatment. It also provides P&G with strong Health Care commercial and supply capabilities, deep technical mastery and proven consumer Health Care leadership. As such, the acquisition will help P&G improve its over the counter (OTC) geographic scale, category footprint and brand portfolio.

Commenting on the successful purchase, a spokesperson for Procter & Gamble emphasized that the firm had been impressed by the Merck unit's "stable and broad growth".

The deal means Cincinnati-based Procter & Gamble, whose over-the-counter brands include Pepto-Bismol and NyQuil, acquires a business that saw 6 percent organic sales growth in 2015-2017. For the full year 2017, net sales of the Consumer Health business amounted to Euro 911 million (USD$1.1 billion).

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The transaction will be executed through the sale of Merck KGaA's shares in a number of legal entities as well as various asset sales.

But the deal does not yet include Merck's French consumer health business, although P&G has made a binding offer for this. As part of the transaction, approximately 3,300 employees globally, mainly from consumer health, will transition to P&G.

"We like the steady, broad-based growth of the OTC Health Care market", P&G CEO David Taylor said in a press release.

P&G will also buy a majority stake in Merck KGaA's consumer health business in India, Merck Ltd, and make a mandatory tender offer to minority shareholders.

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