German drugmaker Bayer said it would keep the Dr. Scholl's and Coppertone brands it bagged as part of a $14 billion purchase from U.S. Merck, despite overtures from companies keen to grab them, widening its healthcare line to include consumer goods.Just weeks after clinching the deal to buy Merck 's non-prescription drugs business, Bayer - best known as a life sciences company which makes cancer drugs - is being courted by rivals keen to acquire the foot care and sunscreen brands, several people with knowledge of the approaches told Reuters.But when asked about the expressions of interest for Dr. Scholl's and Coppertone - each worth more than $1 billion - Bayer said it was not planning to untie the Merck bundle it secured in May in a competitive bidding tussle with Reckitt Benckiser, Procter & Gamble Co and Novartis ."We intend to keep the portfolio acquired by Merck & Co. as a core business," Bayer said in a written statement.
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 0.56% or $0.32/share to $57.85. In the past year, the shares have traded as low as $44.62 and as high as $59.84. On average, 9959360 shares of MRK exchange hands on a given day and today's volume is recorded at 8735723.
The Procter & Gamble Company (P&G) is focused on providing consumer packaged goods. Shares of PG fell by 0.54% or $-0.43/share to $78.59. In the past year, the shares have traded as low as $73.61 and as high as $85.82. On average, 7661060 shares of PG exchange hands on a given day and today's volume is recorded at 10303560.
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