Procter & Gamble to pick up Merck's consumer healthcare unit

April 19, 2018
Merck had been seeking options for its consumer healthcare business for months

German pharmaceutical and chemicals group Merck said Thursday it had agreed to sell its consumer health business to American giant Procter & Gamble and would use the proceeds mostly to pay off debt.

As part of the 3.4-billion euro ($4.2 billion) cash deal, some 3,300 staff will move from Merck to Procter & Gamble, it said in a statement.

Merck had announced in September that it was looking at options for the consumer health business, including a possible sale.

On Thursday, Merck said it would use the net proceeds from the spinoff "primarily to accelerate deleveraging", but also to give its key businesses—, and performance materials—extra financial clout.

Procter & Gamble's CEO David Taylor, meanwhile, said his company liked "the steady, broad-based growth" of the over-the-counter healthcare market.

Merck said its consumer healthcare , which comprises more than 900 products sold in 44 countries, had outperformed the market's overall growth in the past three years.

The deal is to be completed by the end of the year.

Germany's Merck, founded in 1668, is the world's oldest chemical and pharmaceutical company. It employs 53,000 staff across the world and had sales last year of 25.3 billion euros.

Explore further: Merck completes sale of consumer unit to Bayer

Related Stories

Merck completes sale of consumer unit to Bayer

October 1, 2014
Drugmaker Merck said Wednesday that it completed the sale of its consumer care business, which makes products including Claritin allergy medication and Coppertone sun-care line, to German health care company Bayer for $14.2 ...

German drug maker Merck ups forecast for 2013

November 14, 2013
German chemicals and pharmaceuticals giant Merck KGaA said Thursday it is raising its full-year operating profit forecast thanks to improving sales and positive cost-cutting effects.

Germany's Merck suffers setback with cancer drug

December 19, 2012
German pharmaceutical company Merck KgaA says a late stage trial of a new lung cancer drug has failed to meet expectations.

Higher prices for MS drug help drug firm Merck

May 14, 2013
(AP)—Higher prices for its multiple sclerosis drug Rebif helped German pharmaceutical and high-tech materials company Merck KGaA post a 54 percent rise in first-quarter profit.

Recommended for you

Tongue-in-cheek Nobels honor nutritional analysis of cannibalism, roller-coaster kidney stones treatment

September 14, 2018
A nutritional analysis of cannibalism and treating kidney stones on roller-coasters were research projects honored by tongue-in-cheek awards at Harvard University Thursday, designed to make you laugh first, and think later.

Pediatric robot patient offers new level of realism for doctors in training

September 10, 2018
A team of researchers and engineers at Gaumard Scientific has unveiled a new robot that raises the bar on medical training devices. The robot, called HAL, has been made to look like a five-year-old male patient and offers ...

Why men say they've had more lifetime sexual partners than women

July 25, 2018
The disparity between the number of sexual partners reported by men and women can largely be explained by a tendency among men to report extreme numbers of partners, and to estimate rather than count their lifetime total, ...

Censors jump into action as China's latest vaccine scandal ignites

July 22, 2018
Chinese censors on Sunday deleted articles and postings about the vaccine industry as an online outcry over the country's latest vaccine scandal intensified.

Revenge of a forgotten medical 'genius'

June 30, 2018
It's not an uncommon fate for a pioneering scientist: languishing unrecognised in his time before dying in obscurity. But as his 200th birthday approaches, the life-saving work of a Hungarian obstetrician is finally getting ...

Yes, you can put too much chlorine in a pool

June 2, 2018
(HealthDay)—Before you take a dip in the pool this summer, be sure there's not too much chlorine in the water.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.