Home Business News P&G to buy German consumer health unit for $4.2bn

P&G to buy German consumer health unit for $4.2bn

by LLB Reporter
19th Apr 18 9:24 am

‘To expand its portfolio of consumer healthcare products’

Procter & Gamble P&G) will acquire the consumer health business of Merck KGaA for $4.2bn (£3bn) to ‘improve its geographic scale’.

The maker of Pampers diapers, Gillette razors and Vicks also said that the acquisition would enable it to expand its portfolio of consumer healthcare products. Merck’s unit also includes vitamin brands such as Femibion, Neurobion and Nasivin.

“We like the steady, broad-based growth of the OTC Health Care market and are pleased to add the consumer-health portfolio,” said David Taylor, Procter & Gamble’s CEO.

Shares in Merck rose 2.9 per cent following the announcement.

P&G also announced it would also terminate its consumer care joint venture with Teva Pharmaceutical Industries, PGT Healthcare, on July 1.

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