Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

5/6/2014 (8 months ago)

Catholic Online (www.catholic.org)

Merck produces Coppertone, Claritin and Dr. Scholl's Foot Pads

The maker of such over-the-counter favorites as Coppertone, Claritin and Dr. Scholl's has sold its consumer care brands to Germany's Bayer for $14.2 billion. The latest deal between Merck and Bayer is just the latest deal in a wave of mergers and acquisitions sweeping the healthcare industry.

Merck was the biggest U.S. spender on research and development in pharmaceuticals and biotech in 2012. Merck has been undergoing restructuring in order to focus on vaccines and treatments for cancer and diabetes.

Merck was the biggest U.S. spender on research and development in pharmaceuticals and biotech in 2012. Merck has been undergoing restructuring in order to focus on vaccines and treatments for cancer and diabetes.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

5/6/2014 (8 months ago)

Published in Business & Economics

Keywords: Merck, Bayer, buyout, over-the-counter


LOS ANGELES, CA (Catholic Online) - According to Bayer, the deal would add $2.2 billion in annual sales to its non-prescription business. This would make Bayer the second biggest provider of over the counter products worldwide.

Merck was the biggest U.S. spender on research and development in pharmaceuticals and biotech in 2012. Merck has been undergoing restructuring in order to focus on vaccines and treatments for cancer and diabetes.

Find out how you can fill the gaps to end world hunger - by going here!


After-tax proceeds from the sale are likely to be between $8 and $9 billion. The profits will be used to develop its most promising products, such as skin and lung cancer treatment MK-3475, according to Merck.

Both Bayer and Merck have agreed to work together to develop new compounds to treat various cardiovascular diseases. Under the agreement, Merck will pay Bayer $1 billion upfront. Payments of $1.1 billion related to that agreement will unfold later on.

Corporate activity in the sector has been fruitful thus far for 2014. The value of pharmaceutical deals announced this year is running at its highest level since 2009, at a record level across the broader healthcare sector.

Driven by low interest rates that make it cheaper to borrow money and swollen corporate treasure chests has spurred on a buying spree in the pharmaceutical world. Many companies have a lot of cash on hand. There are also ongoing pushes for firms to expand their drug pipelines as patents expire and competition heats up.

The best may be yet to come. By far the biggest potential acquisition currently on the cards is Pfizer's attempt to buy AstraZeneca for $106 billion. AstraZeneca's board has rejected Pfizer's bid, and the U.S. firm now has until May 26 to change its mind. If this fails, Pfizer then has to decide whether to withdraw or go hostile by making an offer direct to shareholders.

---


Pope Francis: end world hunger through 'Prayer and Action'


2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for January 2015
General Intention:
That those from diverse religious traditions and all people of good will may work together for peace.
Missionary Intention: That in this year dedicated to consecrated life, religious men and women may rediscover the joy of following Christ and strive to serve the poor with zeal.



Comments


More Business & Economics

Game over: Saudi Arabia threatens to increase oil production to dangerously drive America out of the oil market Watch

Image of America's rising oil production has threatened Opec's control of the global oil market, but Saudi Arabia may be striking back, upping its own production in order to drive costs beyond the ability of American oil corporations to compete.

By Matt Waterson (NEWS CONSORTIUM)

Despite the continuing decline of the price of oil, Saudi Arabia has actually increased its oil production in an attempt to gain a victory in the oil war against shale drillers in the United States. LOS ANGELES, CA (Catholic Online) - The Middle Eastern oil ... continue reading


Talk about a killer app! Apple posts largest profit in history of mankind Watch

Image of The iPhone 6, which has helped Apple post the record largest profit ever made by a corporation.

By Matt Waterson (NEWS CONSORTIUM)

Apple has sold 74.5 million iPhones in just the last three months, helping the tech giant's profits soar to $18 billion, up more than 37 percent. LOS ANGELES, CA (Catholic Online) - This is the largest profit ever made by a corporation, edging out the $16.2 billion ... continue reading


ECONOMIC EARTHQUAKE: IBM rumored to lay off 110,000 employees - biggest cull in business history Watch

Image of First reported on the Forbes Web site, IBM scoffed at the news. Representatives said that the reported scale of the job cuts

By Catholic Online (NEWS CONSORTIUM)

There are alarming indications that the largest corporate layoff in history may be near. There are rumors afoot that computer IBM plans to lay off 110,000 employees shortly. As their entire worldwide workforce is estimated at 430,000, this represents a quarter ... continue reading


Living on less than $2 dollars a day: Only 5 percent of global wealth belongs to the poorest 80 percent of the world Watch

Image of Millions of people around the world are living off of less than two dollars a day.

By Abigail James (NEWS CONSORTIUM)

The staggering increasing inequality among the wealthy and poor around the world continues to be a pressing issue. Eighty rich billionaires have as much money as 3.5 billion of the poorest people. LOS ANGELES, CA (Catholic Online) - The wealthy are occuring their ... continue reading


An amazing 2,500 of the world's most prestigious people canvas Davos, Switzerland for this year's World Economic Forum Watch

Image of

By Abigail James (NEWS CONSORTIUM)

Around 1,700 private jets will cover the sky, as the most elite people of the world descend on the annual World Economic Forum in Davos, Switzerland. Throughout the next week, world leaders, wealthy businessmen and even influential pop stars will come together to speak ... continue reading


Do they have your best interests at heart? A shocking 50 PERCENT of the global wealth precariously belongs to only ONE PERCENT of the world's population Watch

Image of Nearly 50 percent of the world's entire riches belong to only one percent of its people.

By Abigail James (NEWS CONSORTIUM)

Davos men, the world's most elite billionaires and politicians, gather at the World Economic Forum to once again attempt to tackle inequality between the rich and poor as the disparity continues to grow. LOS ANGELES, CA (Catholic Online) - Every year the world's ... continue reading


Downturn of low gas prices: Schlumberger to cut 9,000 jobs due to decline at pump prices Watch

Image of The precipitous fall of $1.8 billion came in a series of one-time charges related to the steep fall in commodity prices.

By Catholic Online (NEWS CONSORTIUM)

There is a downside to the plunging prices at the gas pump: Americans will be losing jobs as companies struggle to make up the difference in falling revenue. Case in point: Schlumberger is cutting 9,000 jobs due to low oil prices. Other petroleum companies are ... continue reading


Improved economy? Study says labor force participation at 36-Year Low Watch

Image of The labor force participation rate is defined as the percentage of the civilian non-institutional population who either had a job or was actively seeking one during the month.

By Catholic Online (NEWS CONSORTIUM)

Gas prices may be cheaper, consumer confidence may be higher - but that does not take away from the brutal fact that many Americans remain jobless. A record 92,898,000 Americans 16 and older did not participate in the labor force in December, as the labor force ... continue reading


The Rise and Fall of the World's Poorest Nations Watch

Image of Leaving list of LDCs entials that of productive capacity development, structural transformation resilience building and sustainable improvement in human and social capital.

By Thalif Deen, Inter Press Service

The world's 48 Least Developed Countries (LDCs) - a special category of developing nations created by the General Assembly in 1971 but refused recognition by the World Bank - have long been described as "poorest of the poor" in need of special international ... continue reading


Is pot the future boom business? The founder of Pay Pal thinks so Watch

Image of The co-founder and former CEO of PayPal, Peter Thiel is investing multiple millions of dollars into Privateer Holdings, a Seattle-based marijuana growing, production, distribution and information company.

By Matt Waterson (NEWS CONSORTIUM)

Founders Fund, a $2 billion dollar, San Francisco-based venture capitalist firm ran by the co-founder and former CEO of PayPal is moving in a new investment direction, turning towards pastures a little greener than former tech and Silicon Valley ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Hebrews 11:1-2, 8-19
1 Only faith can guarantee the blessings that we hope ... Read More

Psalm, Luke 1:69-70, 71-72, 73-75
69 and he has established for us a saving power in ... Read More

Gospel, Mark 4:35-41
35 With the coming of evening that same day, he said ... Read More

Saint of the Day

Saint of the Day for January 31st, 2015 Image

St. John Bosco
January 31: What do dreams have to with prayer? Aren't they just random ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter