PSP Business Brief: Bayer Acquires Merck & Co's Consumer Care Lines
The business news that everyone is buzzing about is, of course, Allergan’s rejection of Valeant’s unsolicited buy-out offer, but Bayer’s acquisition of Merck & Co’s consumer care business is also garnering some headlines.
Bayer has agreed to acquire Merck & Co’s consumer care business for $14.2 billion, according to media reports. The acquisition will propel Bayer to the No 2 position in non-prescription products. Merck’s consumer care business includes Claritin, Coppertone, and Dr Scholl’s. Pro forma sales of the combined businesses in 2013 amounted to $7.4 billion with Merck’s business contributing approximately $2.2 billion.