Merck has announced the sale of its Consumer Care division, which markets Afrin oxymetazoline nasal spray, to Bayer. According to Bayer, “The purchase price of USD 14.2 billion includes a payment associated with sales of Claritin and Afrin in certain countries where these products are still prescription-only.”
Bayer Chairman Marijn Dekkers cited Afrin as one of the brands that “will create a global consumer care business better positioned to serve consumers around the world.” The deal includes several other allergy and cold brands, including Coricidin and Chlor-Trimeton, plus foot care, women’s health, skin care, and digestive health products.
Merck Chairman and CEO Kenneth C. Frazier said, “The sale of our consumer care business is part of our efforts to ensure that assets within our portfolio align with our core strategy, have industry-leading potential and generate long-term shareholder value. By unlocking value in Merck Consumer Care, we’re able to further our goal of being the premier research-intensive biopharmaceutical company through targeted investments that strengthen our product portfolio and enhance our pipeline.”
Bayer is developing several inhaled antibiotics, including amikacin and a ciprofloxacin DPI that recently received orphan drug status in the US.
Read the Merck press release.
Read the Bayer press release.
