- A deal between the two had been tipped last last week.
- Merck's (MRK) consumer care business includes well-known brands like Claritin, Afrin, and Coppertone. "The combination of Merck Consumer Care's complementary portfolio of products and geographic reach with Bayer's will create a global consumer care business better positioned to serve consumers around the world," says Bayer (BAYZF, BAYRY) Chairman Dr. Marijn Dekkers.
- Merck CEO Kenneth Frazier: "By unlocking value in Merck Consumer Care, we’re able to further our goal of being the premier research-intensive biopharmaceutical company through targeted investments that strengthen our product portfolio and enhance our pipeline.”
- Source: Press Release