September 8, 2017 / 6:07 PM / in 10 months

Germany's Merck hires JP Morgan to advise on consumer health review

FRANKFURT, Sept 8 (Reuters) - Merck KGaA has hired investment bank JP Morgan as a financial adviser to evaluate strategic options for its consumer health business, a spokesman for the German company said on Friday.

People familiar with the matter told Reuters that boutique bank Guggenheim Partners has also been mandated to help with the review, which was announced this week.

The Merck spokesman declined to comment on Guggenheim Partners’ involvement, while Guggenheim did not immediately respond to a request for comment.

Family-controlled Merck said on Tuesday it was considering selling its consumer healthcare business, which has sales of about $1 billion a year, to help fund more research into prescription drugs. (Reporting by Ludwig Burger and Pamela Barbaglia; editing by Alexander Smith)

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