Merck KGaA has signed an agreement to sell its global consumer health business to Procter & Gamble (P&G) for approximately €3.4 billion in cash.
The deal is expected to close by the end of the fourth quarter 2018.
As part of the transaction, Merck and P&G have agreed on a number of manufacturing, supply and service agreements.
“The divestment of the consumer health business is an important step in Merck’s strategic focus on innovation-driven businesses within healthcare, life science and performance materials. It is a clear demonstration of our continued commitment to actively shape our portfolio as a leading science and technology company. The attractive price reflects the high asset value and the performance consumer health has delivered,” said Stefan Oschmann, chairman of the executive board and CEO of Merck.
P&G’s global scale and strategic interest in the health and well-being of consumers provide an excellent basis for accelerating growth, leveraging our teams’ capabilities and expanding the Consumer Health business profitably. With this transaction, we continue to rigorously deliver on our strategy to become a global speciality innovator and bring breakthrough medicines to patients,” said Belen Garijo, member of the executive board of Merck and CEO healthcare.
Merck KGaA has signed an agreement to sell its global consumer health business to Procter & Gamble (P&G) for approximately €3.4 billion in cash.
The deal is expected to close by the end of the fourth quarter 2018.
As part of the transaction, Merck and P&G have agreed on a number of manufacturing, supply and service agreements.
“The divestment of the consumer health business is an important step in Merck’s strategic focus on innovation-driven businesses within healthcare, life science and performance materials. It is a clear demonstration of our continued commitment to actively shape our portfolio as a leading science and technology company. The attractive price reflects the high asset value and the performance consumer health has delivered,” said Stefan Oschmann, chairman of the executive board and CEO of Merck.
P&G’s global scale and strategic interest in the health and well-being of consumers provide an excellent basis for accelerating growth, leveraging our teams’ capabilities and expanding the Consumer Health business profitably. With this transaction, we continue to rigorously deliver on our strategy to become a global speciality innovator and bring breakthrough medicines to patients,” said Belen Garijo, member of the executive board of Merck and CEO healthcare.
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