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Merck & Co Inc announces sale of consumer care business to Bayer AG for $14.2 bln


Tuesday, 6 May 2014 06:00am EDT 

Merck & Co Inc:Enters into definitive agreement to sell its Merck Consumer Care (MCC) business to Bayer AG for $14.2 bln.Bayer AG will acquire Merck's existing OTC business, including global trademark and prescription rights for Claritin and Afrin.Merck expects to close sale of MCC in second half of 2014.Morgan Stanley & Co. LLC acted as financial advisor to Merck, and Fried Frank Harris Shriver & Jacobson LLP and Morgan Lewis & Bockius LLP acted as legal counsel in connection with transaction.J.P. Morgan advised Merck with ongoing portfolio assessment leading up to transaction.Also worldwide clinical development collaboration with Bayer to market and develop its portfolio of soluble guanylate cyclase (sGC) modulators.This includes Bayer's Adempas (riociguat), the first member of this novel class of compounds.Collaboration also includes clinical development of vericiguat (BAY102), which is currently in Phase 2 trials for worsening heart failure, as well as opt-in rights for other early-stage sGC compounds in development at Bayer.Merck will in turn make available its early-stage sGC compounds under similar terms.