Bayer Pays $14B for Merck Brands
Pharmaceutical company Merck in Whitehouse Station announced on May 6 it has sold its consumer care line, including the Dr. Scholl’s and Claritin brands, to Bayer AG, a health-care company in Leverkusen, Germany, for $14 billion. Merck is advised by a team from Morgan, Lewis & Bockius in Princeton, led by attorneys David Glazer, Alan Leeds and Randall Sunberg, and groups from Fried, Frank, Harris, Shriver & Jacobson in New York City and Cleary Gottlieb Steen & Hamilton in Brussels. Bayer is advised by Matthew Hurd of New York City’s Sullivan & Cromwell, as well as by teams from Jones Day in Washington, D.C., Allen & Overy in Frankfurt, and Stuttgart-based firm Gleiss Lutz.
$58M Buy for Medicines Co.
Tenaxis Medical Inc., a surgical sealant manufacturer in Mountain View, Calif., announced on April 23 its sale to The Medicines Co. a pharmaceutical company in Parsippany, for $58 million plus up to $112 million in profit-related payments.
Sanofi Unit Sells for $6.5M
Aastrom Biosciences, a biotechnology company in Ann Arbor, Mich., announced on April 21 it has paid $6.5 million in cash and promissory notes to acquire the Cell Therapy and Regenerative Medicine business from pharmaceutical company Sanofi Aventis in Bridgewater.
Edison Laundry Makes Acquisition
Hotel operator Marriott International in Bethesda, Md., on April 30 announced it has sold its Edison-based N.J. Marriott Textile Services business to commercial laundry supplier Edison Laundry Corp., also in Edison.