WHITEHOUSE STATION, N.J.--(BUSINESS WIRE)--Merck (NYSE:MRK), known as MSD outside the United States and Canada, said today it has completed the previously announced sale of the Merck Consumer Care (MCC) business to Bayer AG. Effective today, Bayer will acquire Merck’s existing over-the-counter business, including the global trademark and prescription rights for CLARITINTM and AFRINTM, for $14.2 billion or approximately $9 billion in after-tax proceeds, less customary closing adjustments as well as certain contingent amounts held back that will be payable upon the manufacturing site transfer in Canada and regulatory approvals in Mexico and Korea.
“The proceeds from this sale, combined with our strong operating cash flow, give us greater flexibility to invest in opportunities that augment the company’s pipeline and product portfolio, such as the purchase of Idenix to strengthen our hepatitis C portfolio, while at the same time continuing to return capital to shareholders,” said Kenneth C. Frazier, chairman and chief executive officer, Merck.
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