German pharmaceutical giant Bayer has reportedly won a bidding process to acquire the consumer care business of US peer Merck with a $14.2 billion offer.
The acquisition will place products including Coppertone and Claritin in the hands of Bayer, which said the deal will allow the firm to strengthen its position in Latin America and North America for over-the-counter products.
The acquisition remains subject to regulatory clearance.
The deal was struck while the companies also agreed to work on a joint venture aimed at sales of sGC modulators, which are used for heart conditions.
Full content: Yahoo
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.