Merck advances 4% as arm may sell consumer health business

Shares of Merck advanced as much as 4 per cent on Wednesday after the company said that its holding company is considering full or partial sale of its consumer health business.

The scrip gained 4.01 per cent to Rs 1,255 on BSE. Shares of the company opened at Rs 1,205 and touched a high and low of Rs 1,280 and Rs 1,205, respectively.

Merck announced that its ultimate holding company, Merck KGaA, Germany, is preparing for strategic options for its consumer health business globally, including a potential full or partial sale of the business as well as strategic partnerships. This strategic initiative would involve the company's consumer health business in India as well, the implementation of potential measures and their specific design are subject to further analysis and decision making by competent bodies, the company said in a statement.

Shares of the company had hit 52-week high of Rs 1,320 on July 27, 2017 and 52-low of Rs 681 on September 30, 2016.