Merck KGaA sells generics ops to Mylan for 4.9 bln eur |
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Published
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Sun, 13 May 2007 08:36
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FRANKFURT (Thomson Financial) - Merck KGaA said it is to sell its generics business to US-based Mylan Laboratories Inc for 4.9 bln eur.Merck and Mylan have signed a share purchase agreement - which is subject to regulatory approval - in which Mylan will acquire all Merck's generics companies throughout the world, said Merck in a written statement.The transaction is expected to be closed in the second half of 2007.'Merck Generics and Mylan ideally complement each other. The acquisition by Mylan offers great opportunities for long term growth and a bright future for the employees of our generics division,' said Merck's chairman of the executive board Karl-Ludwig Kley.Merck now plans to focus on further growth within its pharmaceuticals and chemicals business sectors, Kley said.krysia.diver@thomson.comkdCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Merck KgaA gets 5 bln usd bid for generics unit from India's Torrent - report 