By Olivia Bugault

Merck KGaA said Wednesday that it has signed an agreement for the sale of its allergy business Allergopharma to Germany's Dermapharm Holding SE.

The German pharmaceutical company said the transaction should close in the end of the second quarter of 2020, if approved by regulators.

"The transaction encompasses the Allergopharma business in Europe and Asia, including the therapeutic and diagnostic product portfolio as well as the production site in Reinbek near Hamburg, Germany," it said.

Merck KGaA said that both parties agreed not to disclose the financial details of the deal.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

February 19, 2020 10:40 ET (15:40 GMT)

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