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P&G to acquire Merck’s consumer health unit

P&G to acquire Merck’s consumer health unit

Mubasher: Procter and Gamble (P&G) announced on Friday, that it has signed an agreement to acquire the consumer health business of Germany’s Merck Group, for an approximate purchase price of EUR 3.4 billion ($4.18 billion).

The deal would provide the fast-moving consumer goods (FMCG) giant with a rapidly expanding portfolio of various health care commercial and technical capabilities, a wide geographical presence, along with a large set of over-the-counter products, according to the company’s statement.

The consumer health business has provided over 900 products across 44 countries, and grew by 6% over the past two years.

“This acquisition helps us continue to drive sales and profit growth for P&G by providing the capabilities and portfolio scale we need to operate a winning global [over-the-counter] OTC business on our own, without the aid of a health care partner,” said Tom Finn, the president of P&G global personal health care.

P&G hopes to close the deal during fiscal year 2018/2019, as per customary closing conditions and regulatory clearances.