NEW YORK (TheStreet) -- Merck & Co.
(MRK - Get Report) shares are down -1.2% to $56.40 in pre-market trading after being downgraded to "equalweight" from "overweight" by analysts at Morgan Stanley
(MS - Get Report) on Wednesday.
The downgrade comes on the heels of yesterday's news that German drug maker Bayer AG (BAYRY) had agreed to purchase Merck's consumer care division for $14.2 billion.
The deal makes Bayer one of the largest over-the-counter drug companies in the world as it assumes control of Merck's most popular non-prescription brands.
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