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Bayer Gets Merck Brands Like Claritin Through $14.2 Billion Deal

Shares of Merck are climbing on Tuesday after German drug-maker Bayer said it would buy its consumer care business for $14.2 billion. The deal is set to make Bayer the second-biggest over-the-counter drug maker behind Johnson & Johnson. Bayer said it should add $2.2 billion in annual sales to its non-prescription business, while Merck said it expects after-tax proceeds of between $8 billion and $9 billion from the deal. It is the latest in a string of M&A activity within the drug sector.