Merck KGaA to keep OTC
This article was originally published in The Tan Sheet
The German firm maintains a positive outlook for its consumer health business and says it does not plan to sell - contrary to analysts' suggestion Sanofi-Aventis could buy it (1"The Tan Sheet," Jan. 12, 2009, p. 14). "If some braver companies are coming in, yes, that will increase the competition - the consumer will have more choice - but they cannot overtake our brands in two years," pharmaceutical head Elmar Schnee said during the firm's earnings call Feb. 18. Fiscal 2008 OTC revenues grew 5.2 percent to 442 million euros ($599.3 million under same-day conversion rates), and rose 3.7 percent to $144.7 million in the fourth quarter. The U.K.'s depreciating currency value hit the firm's sales
You may also be interested in...
Merck KGaA's weak consumer health business could be an acquisition target for a larger, more geographically diverse and innovative firm, such as Sanofi-Aventis, according to an analysts' report
Pain relief product sales grew 27% and upper respiratory sales 35% for the week ended 7 March as consumers respond to COVID-19, according to Nielsen data noted in a Jefferies report on consumer health purchasing trends. Private label market share is up slightly, while OTC purchases continue primarily in conventional stores.
Managing partner Corey Goodman said venBio didn’t have trouble closing its fund, because the venture capital firm prepared its investors for an economic downturn months ago.