Merck renamed as Procter & Gamble Health following P&G's global acquisition of consumer health business

Drug firm Merck Ltd on Tuesday said it has been renamed as Procter & Gamble Health Ltd following P&G's global acquisition of the consumer health business of Merck KGaA, Germany

Press Trust of India May 07, 2019 14:46:28 IST
Merck renamed as Procter & Gamble Health following P&G's global acquisition of consumer health business
  • The Merck's consumer health business was transferred to P&G on 1 December, 2018

  • The decision to change the name of the listed entity in India follows the successful completion of P&G's global acquisition of the consumer health business of Merck KGaA, Darmstadt, Germany, the filing said

  • Shares of Merck Ltd were trading at Rs 3,689.20 per scrip on the BSE, up 2.08 percent from its previous close

New Delhi: Drug firm Merck Ltd on Tuesday said it has been renamed as Procter & Gamble Health Ltd following P&G's global acquisition of the consumer health business of Merck KGaA, Germany.

"The company has received approval from the Registrar of Companies, Mumbai, Maharashtra, for change of name from Merck Ltd to Procter & Gamble Health Ltd effective 6 May, 2019," Merck said in a filing to the BSE.

The company is taking necessary steps to comply with the formalities and documentation, as may be required by the stock exchanges to record the said change in its records, it added.

Merck renamed as Procter  Gamble Health following PGs global acquisition of consumer health business

Representational image. Getty.

Procter & Gamble Health Ltd Managing Director Milind Thatte said, "Our new name reflects our new identity as part of the P&G Group and signifies the coming together of strong consumer health capabilities and cultures".

Together, "we are working towards leveraging our combined expertise to develop categories and brands that meet today's needs and tomorrow's opportunities," he added.

The decision to change the name of the listed entity in India follows the successful completion of P&G's global acquisition of the consumer health business of Merck KGaA, Darmstadt, Germany, the filing said.

The consumer health business was transferred to P&G on 1 December, 2018, it added.

"I am delighted to announce the new name of our listed entity which will now be known as Procter & Gamble Health Ltd," Procter & Gamble Global Personal Health Care President Tom Finn said.

With India's over-the-counter (OTC) market growing at double the global growth rate, "this is a exciting phase for all of us, as we now move forward to realise the great potential of our two health-related P&G businesses in India", he added.

Procter & Gamble Health Ltd will be a part of P&G's Personal Health Care International Business Unit led by Uta Kemmerich-Keil (vice-president, Personal Health Care International), the company said.

Shares of Merck Ltd were trading at Rs 3,689.20 per scrip on the BSE, up 2.08 percent from its previous close.

Updated Date:

also read

INX Media case: Delhi court exempts Karti and P Chidambaram from appearing before it due to elections
India

INX Media case: Delhi court exempts Karti and P Chidambaram from appearing before it due to elections

The two Congress leaders had sought the exemption from a Delhi court on grounds that they busy with the Tamil Nadu Assembly elections, for which they were star campaigners

Joji movie review: Fahadh Faasil is outstanding in a sharp tale of amorality and a house of intrigue
Entertainment

Joji movie review: Fahadh Faasil is outstanding in a sharp tale of amorality and a house of intrigue

Fahadh Faasil and Dileesh Pothan's Joji lives up to the reputation they have built for themselves with its detailing, acute observation powers and kookie sense of humour, all backed by stupendous acting.

P Chidambaram says COVID-19 vaccination drive a crusade, not a festival, slams Centre's 'rhetoric and hyperbole'
India

P Chidambaram says COVID-19 vaccination drive a crusade, not a festival, slams Centre's 'rhetoric and hyperbole'

Taking to Twitter, the former Union finance minister urged the government to allow walk-in vaccination and asked them to get rid of the need for pre-registration for taking the vaccine in India