Merck advances plan to shed consumer biz
The Wall Street Journal reported today that Merck will begin meeting with potential buyers of its consumer business next week and, citing unnamed sources, wrote that the price tag could be over $10 billion. Merck inherited its consumer business from Schering-Plough, which it acquired in 2009. In an investor note Wednesday night, ISI Group analyst Mark Schoenebaum stated that the final bid will likely be due in late March. Merck consumer products include Coppertone sunscreen, and Claritin allergy medication, among others.