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Procter & Gamble has acquired a unit from Germany’s Merck KGaA for approx USD 4.21 billion.
With this acquisition the company adds a portfolio of physician supported brands, to P&G brands like Vicks, Metamucil, Pepto-Bismol, Crest and Oral-B.
David Taylor, Charmin of the Board, President and CEO stated, “We like the steady, broad-based growth of the OTC healthcare market and are pleased to add the Consumer health portfolio and people eoif Merck KGaA, to the P&G family.”
Further, as per a company release, the acquisition of the Consumer Health business of Merck KGaA, replaces the PGT Healthcare joint venture P&G had with Teva Pharmaceutical Industries, which will be terminated on July 1, 2018, pending regulatory approvals.
