Procter & Gamble nears deal for vitamin maker Merck KGaA

Global consumer products major, The Procter & Gamble Company (P&G), will acquire a almost 52% stake in drug firm Merck India for Rs 1,300 crore as part of a global deal under which it will take over the worldwide consumer health business of Germany's Merck KGaA. The company has been under consistent pressure to improve performance with its stock price falling 13 percent in the past year. It also provides P&G with strong Health Care commercial and supply capabilities, deep technical mastery and proven consumer Health Care leadership. According to authentic sources, the reputed consumer healthcare brands added to P&G's product line through the acquisition deal are likely to improve the product portfolio quality of the firm.

Annual revenue at the prescription-free unit last grew by more than seven percent to 911 million euros in 2017.

Commenting on the successful purchase, a spokesperson for Procter & Gamble emphasized that the firm had been impressed by the Merck unit's "stable and broad growth".

The company has clearly chose to quit consumer health while it is ahead - the unit's net sales grew organically by 6% between 2015 and 2017, outpacing the consumer health market's growth of approximately 4% over the same period.

More news: P&G buys Merck health brands for $4.2B

The consumer health business of Merck is active worldwide, in regions such as Asia, Europe and Latin America, and sells more than 900 products.

As part of the transaction, approximately 3,300 employees, mainly from consumer health, will be absorbed by P&G upon completion of the transaction.

At this time, the transaction does not comprise the French Consumer Health business, where P&G has made a binding offer to acquire the shares and assets, depending on Merck KGaA, informing and consulting the relevant works council representatives.

"Over the past few years, our Health Care business has delivered consistent growth and strong shareholder value creation", said P&G's group president of global healthcare Steve Bishop. As a part of the agreement, P&G is projected to buy majority of shares in Merck's India consumer healthcare business.

(Copyright © 2015. All Rights Reserved.)
 
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