Merck & Co Inc has agreed to sell its consumer care business to Germany's Bayer AG for $14.2 billion, the companies said on Tuesday, adding to a string of major cross-border healthcare deals."This acquisition marks a major milestone on our path towards global leadership in the attractive non-prescription medicines business," Bayer's chief executive Marijn Dekkers said in a statement.Merck said it expects after-tax proceeds of between $8 billion and $9 billion from the sale, which is expected to close in the second half of 2014.The transaction, the largest in the German healthcare industry since Bayer bought rival Schering in 2006, will make Bayer the second biggest over-the-counter drugs maker after Johnson & Johnson.
Johnson & Johnson is a holding company. The Company is engaged in the research and development, manufacture and sale of a broad range of products in the health care field. Shares of JNJ traded higher by 0.69% or $0.69/share to $100.00. In the past year, the shares have traded as low as $82.12 and as high as $101.98. On average, 8336490 shares of JNJ exchange hands on a given day and today's volume is recorded at 5438240.
Merck & Co., Inc. (Merck) is a global health care company that delivers health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products, which it markets directly and through its joint ventures. Shares of MRK traded higher by 0.7% or $0.41/share to $58.63. In the past year, the shares have traded as low as $44.62 and as high as $59.84. On average, 11132100 shares of MRK exchange hands on a given day and today's volume is recorded at 8136856.
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