Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

5/6/2014 (1 year 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 (1 year 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'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for July 2015
Universal:
That political responsibility may be lived at all levels as a high form of charity.
Evangelization: That, amid social inequalities, Latin American Christians may bear witness to love for the poor and contribute to a more fraternal society.



Comments


More Business & Economics

U.S. hit with price hikes: Apartment rent, restaurant meals and haircut prices are up Watch

Image of Starbucks has increased the price of their coffee from around 5 cents to 20 cents per cup.

By Linky C. (NEWS CONSORTIUM)

Prices of restaurant meals, gym memberships, haircuts and even a cup of coffee are rising in America, as well as apartment rent. American consumers are beginning to feel the financial burden, as the inflation rates in the U.S. start to kick in. MUNTINLUPA, PHILIPPINES ... continue reading


Big name companies demand Planned Parenthood to remove names off list of corporate donors Watch

Image of

By Nikky Andres (NEWS CONSORTIUM)

Representatives from Coca-Cola, Ford Motor Co. and Xerox openly state they've requested Planned Parenthood to take their company's names out as corporate donors to the controversial organization. MUNTINLUPA, PHILIPPINES (Catholic Online) - Planned Parenthood is now ... continue reading


Gun sales in the United States dramatically boost after massacre shootings Watch

Image of

By Atarah Haely (NEWS CONSORTIUM)

FBI's latest background check data shows the gun industry spiked in sales at about 11 percent last June. There are about 1.53 million background checks done, making it the busiest June ever since the agency started keeping track in 1999, according to CNN. The massive ... continue reading


Microsoft slammed for thousands of layoffs while demanding increase in immigration Watch

Image of

By Atarah Haely (NEWS CONSORTIUM)

About 7,800 Microsoft employees are in line to be fired, according to a company announcement last Wednesday. Most workers are from the seemingly failing mobile phone business, while Microsfot is said to fire a majority of Nokia's remaining employees ever since ... continue reading


Subway and Jared break up after controversial police raid at spokesman's home Watch

Image of Jared Fogle is known for his massive weight loss on a

By Nikky Andres (NEWS CONSORTIUM)

Subway spokesman, Jared Fogle's house was raided by FBI agents and Indiana State Police, two months after the former executive director of Fogle's foundation was arrested with charges of child pornography. MUNTINLUPA, PHILIPPINES (Catholic Online) - In their statement, ... continue reading


'Enough with all the rules' firework industry calls out to Obama Watch

Image of

By Nikky Andres (NEWS CONSORTIUM)

This year, more states have allowed people to buy pyrotechnic materials, such as sparklers and Roman Candles. In fact, this year has been wonderful for fireworks manufacturers, since the projected 2015 sales of celebratory explosives are estimated to top $1 billion. ... continue reading


Whole Foods accused of greatly overcharging customers Watch

Image of

By Nikky Andres (NEWS CONSORTIUM)

Whole Foods, the American foods supermarket chain that specializes in organic goods, has been accused of massive overcharging. The New York City Department of Consumer Affairs explained they have discovered "systematic overcharging for pre-packaged foods" at the city's ... continue reading


Strange and powerful 'boat swallowing' vortex appears in Lake Texoma Watch

Image of

By Nikky Andres (NEWS CONSORTIUM)

A strange, giant vortex, estimated to be around 8-feet in diameter, has appeared in Lake Texoma. This occurrence is surprising and perhaps threatening. However, there is an explanation. MUNTUNLUPA, PHILIPPINES (Catholic Online) - Lake Texoma is known as one of the ... continue reading


Is it time to stash money under mattress? 'It's time to hold physical cash,' fund manager says Watch

Image of Ian Spreadbury declined to predict the exact trigger but said it was more likely to happen in the next five years rather than 10.

By Catholic Online (NEWS CONSORTIUM)

Is it time to cash your paycheck and then stick it into a hatbox for a rainy day? According to British fund manager Ian Spreadbury, who invests more than £4 billion of investors' money is gravely concerned that a "systemic event" could rock markets. The upset ... continue reading


In spite of strong showing, Ron Paul predicts Apocalypse on Wall Street Watch

Image of Ron Paul has predicted economic doomsday previously. As stocks continue to make new highs, he remains just as convicted as ever that there

By Catholic Online (NEWS CONSORTIUM)

Things seem to be on an even keel right now but according to former Representative Ron Paul, the Federal Reserve's easy money policies have left stocks and bonds are on the verge of a massive collapse. LOS ANGELES, CA (Catholic Online) - "I am utterly amazed at ... 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, Exodus 16:2-4, 12-15
2 And the whole community of Israelites began ... Read More

Psalm, Psalms 78:3-4, 23-24, 25, 54
3 What we have heard and know, what our ancestors ... Read More

Gospel, John 6:24-35
24 When the people saw that neither Jesus nor his ... Read More

Reading 2, Ephesians 4:17, 20-24
17 So this I say to you and attest to you in the ... Read More

Saint of the Day

Saint of the Day for August 2nd, 2015 Image

St. Eusebius of Vercelli
August 2: Christians who breathed a sigh of relief when Constantine ... 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