FRANKFURT/NEW YORK, April 13 (Reuters) - Generic drug maker Mylan is in advanced discussions to acquire Merck KGaA’s consumer health unit after other bidders failed to meet the German company’s price expectations, people familiar with the matter said.
Mylan’s talks with Merck come as other contenders for the business, including Nestle and Reckitt Benckiser dropped out of the bidding. Merck said last year it was looking to sell its consumer healthcare business, which has annual sales of about $1 billion, to help to fund its research into prescription drugs.
The sources asked not to be identified because the deliberations are confidential. Merck declined to comment, while Mylan did not respond to requests for comment. (Reporting by Arno Schuetze, Greg Roumeliotis, Ben Martin, Ludwig Burger, Martinne Geller, Patricia Weiss Editing by Maria Sheahan)