Merck renamed Procter & Gamble Health
The consumer health business of Merck KGaA, Germany was acquired by P&G and transferred to it on December 1, 2018
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 May 6, 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.
Procter & Gamble Health Ltd MD 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 December 1, 2018, it added.