German Merck considering generics sale

Share this article:
German chemicals company Merck KGaA is considering shedding its generics business, which could fetch 4 billion euros ($5.2 billion). Merck has hired Bear Stearns to vet potential bidders. The generics business had sales of 1.8 billion euros ($2.3 billion) in 2005. Merck is buying Swiss biotech Serono for $13.3 billion, after failing to buy the rival Schering last year, and may be under pressure to cut debt. Among those expected to express interest in the unit are Teva and Novartis, as are private equity firms including Blackstone and KKR. Iceland’s Actavis and KKR and Blackstone lost a bidding battle against Barr Pharmaceuticals, which bought Croatian drugmaker Pliva for $2.5 billion last year. Also last year, Novartis bought generics company Hexal for $8 billion.
Share this article:

Email Newsletters

More in News

Astellas, DOJ settle for $7.3M

Astellas, DOJ settle for $7.3M

Astellas has settled a False Claims case with the Department of Justice over the 2010-2013 marketing of an antifungal medication. Astellas denies the allegations.

Boehringer drug lands US, EU orphan tag

Boehringer drug lands US, EU orphan tag

The experimental Breakthrough Therapy treatment is for acute myeloid leukemia.

Omnio app moves to smartphones

Omnio app moves to smartphones

Physicians Interactive is introducing the third wave of its Omnio app, making the tablet-only tool available for iPhones and Android phones.