Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients
Mylan Completes Acquisition of Merck’s Generics Business
2:17 PM MDT | October 15, 2007 | Chemical Week Editorial Staff
Mylan Laboratories (Canonsburg, PA) has completed the previously announced acquisition of Merck KGaA’s generic drugs business for €4.9 billion ($6.7 billion) in cash. The companies signed a definitive agreement for the deal in May (CW, May 23, p. 25). Merck’s generics business generated sales of €1.8 billion in 2006 and has about 5,000 employees. Merck previously announced that it intends to use proceeds from the sale to pay down debt. Mylan has acquired all of Merck’s generics subsidiaries worldwide, and the deal positions Mylan as...
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