IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients

Mylan to Buy Merck KGaA’s Generics Unit for $6.7 Billion

1:46 PM MDT | May 23, 2007 | Alex Scott

Mylan Laboratories (Canonsburg, PA) says it has agreed to buy Merck KGaA’s generic pharmaceuticals business for €4.9 billion ($6.7 billion) in cash. The sale price is in line with market expectations (CW, May 9, p. 6). Merck KGaA’s generics unit generated sales in 2006 of €1.8 billion, placing it fourth in the market behind Barr Pharmaceuticals (Woodcliff Lake, NJ), Novartis, and Teva Pharmaceutical Industries (Petach Tikva, Israel). Mylan and the Merck KGaA business will have a combined annual Ebitda of about $1 billion and sales of about...

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