Bayer Buys Merck & Co’s Consumer Care Business For $14 Billion

The pharmaceutical industry continued its massive spurt of acquisitions today with the announcement of a Merck & Co., Inc. (NYSE:MRK) deal to sell its entire consumer unit to Bayer AG (FRA:BAYN) (ETR:BAYN). The companies agreed on a price of $14.2 billion for the business. Once the deal is closed Bayer will take control of a number of over the counter medicines that will secure its place at second biggest in the market. Merck & Co., Inc. (NYSE:MRK) revealed earlier in 2014 that it was looking for a buyer to pick up its consumer business as it had decided to concentrate on…