P&G buys Merck health brands for $4.2B

A cyclist rides past a logo of drugs and chemicals group Merck KGaA in Darmstadt Thomson Reuters

Mumba- German drug manufacturer Merck on Thursday said it will sell its global consumer health business to Procter and Gamble (P&G) for Dollars 4.2 billion.

But these had been reportedly put off by price demands of as much as 4 billion euros - almost $5 billion - and the purchase price for Merck's business suggests it had to offer a discount to get the deal done.

The proceeds would allow it to reduce debt faster, giving its businesses, which include chemicals, pharmaceuticals and lab equipment, more flexibility, although it ruled out acquisitions worth more than 500 million euros this year.

Moto G6 Hands-On: Amazing What You Get for Just $250
However, if you don't want to wait, you can check for the update manually by heading over to the Settings System updates menu. As with nearly every Motorola Android phone, it runs as close-to-stock Android as you'll find on a non-Google phone.

In two years, Merck's $1bn Consumer Health business has grown by 6% and provides a broad range of OTC product remedies to relieve muscle, joint and back pain, colds and headaches as well as products for supporting physical activity and mobility. The deal is expected to close by the fourth quarter, with the possibility of Merck's almost 3,300 consumer health employees moving to P&G.

"The attractive price reflects the high asset value and the performance consumer health has delivered", he said.

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.

Everything we know about hero Southwest pilot Tammie Jo Shults
Air traffic control cleared her to land, and the plane was immediately met with medical and emergency crews after touching down. Shults toiled for a year until a recruiter processed her Navy application. "My brother says she's the best pilot he knows".

P&G shares rose 1.3 percent in post-market trading on Wednesday in NY after shifting its third-quarter earnings report to Thursday morning from an initial plan to release results on Friday. "With P&G we have found a strong, highly recognized player who has the necessary scale to successfully drive the business going forward", added the CEO.

"For the Indian business, it has been agreed that P&G will acquire Merck's majority shareholding in Merck Ltd (India), a publicly traded company, and subsequently make a mandatory tender offer to minority shareholders", it said. JP Morgan acted as financial adviser to Merck on the transaction, and Freshfields Bruckhaus Deringer acted as a legal adviser to Merck.

"These leading brands and the great employees of Merck's consumer health business will complement our personal health care business very well", said Tom Finn, President, P&G Global Personal Health Care.

Justice Loya's death: SC dismisses pleas seeking SIT probe
With the Supreme Court dismissing the petition that sought a court-monitored investigation into the death of Judge B.H. In a scathing verdict, bench headed by CJI raps petitioners and lawyers for attempting to "scandalise" the judiciary .

Related news:

Hot News

isis-killer-beheading-video-story-top NFL Schedule: Season-Opener, First Monday Night Game & More
Apr 20, 2018 - 01:51
The NFL announced on Tuesday night that it will be releasing the 2018 regular-season schedules for all 32 teams at 8 p.m. ET at the new Tottenham Stadium in London, while the Chargers-Titans game will be at Wembley Stadium on October 21st.

isis-killer-beheading-video-story-top Former 911 Operator Found Guilty Of Hanging Up On Thousands Of Callers
Apr 20, 2018 - 01:50
The manager in charge of the 911 operators said Williams was an anomaly and other operators did not hang up on people in need. Williams worked as a 911 operator from 2015 to 2016.

isis-killer-beheading-video-story-top Queen officially declares CHOGM 2018 open - hints Prince Charles will succeed her
Apr 20, 2018 - 01:49
The meeting, which held on Thursday at the Lancaster House in London , was declared open by Queen Elizabeth II . As she no longer goes overseas , the current summit will nearly certainly be her last.

isis-killer-beheading-video-story-top Giants releasing Brandon Marshall
Apr 20, 2018 - 01:48
The Ravens have been the team with the most interest in Bryant thus far and are now the oddsmakers' favorites to land him . Obviously, there would be some irony to Marshall joining the team that released the veteran that could replace him in NY .

isis-killer-beheading-video-story-top Southwest Flight 1380 became a midair scene of chaos and terror
Apr 20, 2018 - 01:47
Jennifer Riordan was Vice President of Community Relations for Wells Fargo for nearly 10 years according to her Linkedin profile. NTSB investigators look at a Southwest plane that suffered an engine blow-out that led to the death of a woman mid-air.

isis-killer-beheading-video-story-top Kanye West just announced two new albums
Apr 20, 2018 - 01:47
If that wasn't enough of a treat, Kanye clarified the second album would be with Kid Cudi in their new group, Kid See Ghost . Photo After a lengthy absence from the public eye, Kanye West announced a pair of new albums on Twitter .

isis-killer-beheading-video-story-top OPEC's new price hawk Saudi Arabia seeks oil as high as $100
Apr 20, 2018 - 01:39
US gasoline demand surged to a record high of 9.9 MMbbl a day before the summer driving season when consumption typically peaks. Rocket attacks by rebels in Yemen on top oil exporter Saudi Arabia have also contributed to oil's geopolitical risk premium .

isis-killer-beheading-video-story-top Trump says US return to TPP only if offered
Apr 20, 2018 - 01:34
Trump added: "Too many contingencies and no way to get out of it doesn't work". The president has been scheduled to play with golf with Abe.

isis-killer-beheading-video-story-top Canelo Alvarez suspended 6 months by NSAC
Apr 19, 2018 - 06:05
The Nevada Athletic Commission reduced Alvarez's one-year ban to six months after agreeing a settlement with the former two-division world champion.

isis-killer-beheading-video-story-top Puerto Rico loses power island-wide as electrical grid collapses
Apr 19, 2018 - 06:04
The island only has one electric company, and it was $9 billion in debt and utilizes old, outdated infrastructure and equipment. Just last week, 840,000 customers were left without power after two electrical lines failed, causing a massive blackout.

isis-killer-beheading-video-story-top Google Rolls out Chrome 66 for Android, iOS, Windows and Linux Users
Apr 19, 2018 - 06:03
Strict Site Isolation was one of the security features that lowered the risk of the Spectre CPU vulnerability in early January. The autoplay blocking feature is the latest attempt from Google to make the internet a more enjoyable place to navigate.

isis-killer-beheading-video-story-top Trump rewrites history on rationale for firing Comey
Apr 19, 2018 - 06:01
Colbert asked about the infamous, unverified Russian dossier that mentioned salacious details of Trump and two prostitutes. The clarification regarding Comey's disdain for Trump's leadership, rather than him personally, is certainly warranted.

isis-killer-beheading-video-story-top Tom Brady: Expected to play in 2018
Apr 19, 2018 - 05:58
The Eagles won.Foles stole the glory from a future Hall of Famer and helped the Eagles win their first-ever Super Bowl. Both he and Brady didn't report to Gillette Stadium this week for Phase 1 of the offseason workout program.

isis-killer-beheading-video-story-top Jerry Jones on Dez Bryant Release: Decision in 'Best Interest' of Cowboys
Apr 18, 2018 - 03:25
Dallas Cowboys owner Jerry Jones has released a statement following the team's decision to cut wide receiver Dez Bryant on Friday. The Ravens have already signed Michael Crabtree and John Brown this offseason in an attempt to rebuild their receiving corps.

isis-killer-beheading-video-story-top Big Reward Now Offered for Info on Lois Riess
Apr 18, 2018 - 03:21
The obituary for David Riess was published last week, and mentioned his children and grandchildren, but not wife. She then allegedly went on the lam, stopping at Diamond Joe's Casino in Iowa to feed her gambling habit.