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Merck's consumer health unit includes brands such as Femibion, Neurobion, Nasivin and Seven Seas. For the full year 2017, net sales of the Consumer Health business amounted to Euro 911 million (USD$1.1 billion).
In September 2017 Merck had said that it was preparing strategic options for its consumer health business, including a potential full or partial sale of the business as well as strategic partnerships.
The transaction will be done through the sale of shares in a number of legal entities as well as various asset sales of Merck KGaA. For the Indian business, P&G will acquire the majority shareholding of Merck KGaA in Merck Ltd., Mumbai, India, a Merck KGaA subsidiary, and will subsequently make a mandatory tender offer to minority shareholders.
The acquired brands offer solutions in relieving muscle, joint and back pain, colds and headaches, as well as supporting physical activity and mobility, many of which are treatment areas not now addressed in P&G's portfolio, it says.
Marketing has reached out to P&G for additional details. According to authentic sources, the reputed consumer healthcare brands added to P&G's product line through the acquisition deal are likely to improve the product portfolio quality of the firm. "The marketed portfolios, product pipelines, and geographic footprints of both businesses are highly complementary", said Belén Garijo, member of the executive board of Merck KGaA and CEO Healthcare, in the press release.
"Over the past few years, our Health Care business has delivered consistent growth and strong shareholder value creation", said P&G's group president of global healthcare Steve Bishop.
The companies announced the transaction on Thursday morning.
The deal follows GlaxoSmithKline agreeing to buy Novartis out of their consumer healthcare joint venture for $13 billion after dropping its pursuit of Pfizer's consumer unit.
About 3,300 Merck employees could move to P&G upon completion of the transaction, which is expected by the fourth quarter.
The sale of the global consumer health business does not yet comprise the French consumer health business, where P&G has made a binding offer.
Merck said the divestment of its consumer health business did not change its goal of keeping net sales of its established prescription drugs, such as Erbitux against cancer and multiple sclerosis treatment Rebif, organically stable until 2022.
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