Procter & Gamble buys Merk consumer health division for US$4.2B
The deal means Procter & Gamble acquires a business that saw six per cent organic sales growth from 2015-2017 and includes nutritional supplements for pregnant women, cod liver oil capsules and back pain balm
FRANKFURT—German pharmaceutical and chemical company Merck says it has agreed to sell its global consumer health business to Procter & Gamble for 3.4 billion euros ($4.2 billion) in cash.
The deal means Cincinnati-based Procter & Gamble, whose over-the-counter brands include Pepto-Bismol and NyQuil, acquires a business that saw 6 per cent organic sales growth in 2015-2017.
P&G CEO David Taylor said that the company “liked the steady, broad-based growth” of the over-the-counter health care market and that the acquisition would bolster the company’s geographic reach and product portfolio.
Products include nutritional supplements for pregnant women, cod liver oil capsules and back pain balm.
Merck, based in Darmstadt, Germany, said it would use the money from the sale to reduce debt. Germany’s Merck is different from U.S-based Merck & Company, Inc.