Pharmaceutical giant Merck announced this morning that it will pay more than $41 billion to acquire Schering-Plough. Merck is making the move as the drug industry faces massive revenue and profit shortfalls in coming years as cheaper, generic drugs eat away at some of their most profitable drug franchises.

Merck and Schering-Plough already conduct business together, co-marketing the cholesterol drug Zetia and Vytorin, which combines Zetia with Merck’s cholesterol drug Zocor.

“We are creating a strong, global healthcare leader built for sustainable growth and success,” said Merck CEO Richard Clark in a statement. “The combined company will benefit from a formidable research and development pipeline, a significantly broader portfolio of medicines and an expanded presence in key international markets, particularly in high-growth emerging markets. The efficiencies we gain will allow us to invest in strategic opportunities, while creating meaningful value for shareholders.”

But where does that leave Coppertone, one of the best-known sun care brands in the world? The brand’s sales were flat last year at $239 million. Throw in sales of foot care products of $357 million and suddenly, Schering-Plough’s personal care portfolio becomes very attractive to any company looking to become a major player in one bold stroke.