Procter & Gamble (P&G) has completed its acquisition of Merck’s Consumer Health business in a €3.4bn ($3.8bn) deal.
The acquisition was announced in April. It is intended to improve P&G’s over the counter (OTC) geographic scale brand portfolio and category footprint across 15 markets.
Following the acquisition, Merck former Consumer Health president and CEO Uta Kemmerich-Keil will join P&G Personal Healthcare International as a leader.
P&G Personal Healthcare involves the newly combined consumer (OTC) healthcare businesses in Europe, Latin America, and Asia/India, Middle East and Africa (IMEA).
P&G Global Personal Healthcare president Tom Finn said: “In bringing Merck, Darmstadt, Germany, Consumer Health into P&G, we have created a new healthcare organisation that is well-positioned to enable consumers to live longer, healthier and more vibrant lives, as well as drive further sales and profit growth for P&G.”
The new brands provide a range of OTC products that can be used to relieve muscle, joint and back pain, colds and headaches, as well as other products to support physical activity and mobility.
With the acquisition, P&G is also expected to get a strong healthcare commercial and supply capabilities that will complement its existing consumer healthcare capabilities and brands.
Merck executive board member and healthcare CEO Belén Garijo said: “P&G’s global scale and strategic interest in the health and wellbeing of consumers provide an excellent basis for growth and expansion, and we wish our colleagues all the best for the future.
“This transaction marks a further step in our company’s strategic focus on science and technology.”
The combined entity is set to have an expanded position in the fastest-growing segments within the consumer health market.