Germany’s Merck will sell consumer products business to P&G

Merck KGaA has agreed to sell its consumer health business, featuring brands such as Seven Seas vitamins and Oral-B toothpaste, and a number of over-the-counter (OTC) drugs, to Procter & Gamble for $4.2 billion. The business generated sales in 2017 of $1.1 billion across 44 countries; it has production sites in Spittal, Austria, and Goa, India. The divestment leaves the German company with three divisions: health care, life sciences, and performance materials. Merck intends to use money from the sale to reduce debt. The firm announced plans to sell the business in September 2017.