People & Business :: Companies
Ranbaxy Drops Out of Battle for Merck KGaA’s Generics Unit
11:34 AM MDT | July 27, 2007 | Deepti Ramesh
The largest pharma company in India, Ranbaxy Laboratories (Gurgaon) has dropped out of the second round of bidding for German pharma major, Merck KGaA’s generics business unit, according to a series of unconfirmed media reports at CW press time last week. The other companies believed to still be in the race for the generic unit are Teva Pharmaceuticals (Petach Tikva, Israel), Actavis (Reykjavik, Iceland), and Mylan Laboratories (Pittsburgh). The estimated worth of Merck’s generics business is around $6 billion, industry sources say. Ranbaxy declined...
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