Merck Sells Generics Business to Mylan for EUR 4.9 Billion
Merck KGaA announced that it will sell its Generics business to Mylan Laboratories Inc, Canonsburg, PA USA. Merck and Mylan have signed a share purchase agreement whereby Mylan will acquire all Merck Generics companies throughout the world for EUR 4.9 billion.
The divested Generics business represents EUR 1,802 million of sales in 2006. The agreement is subject to regulatory approval. Closing of the transaction is expected in the second half of 2007.
In 2006, Merck's Generics division accounted for 29% of Merck Group sales and 28% of the Group's operating result. Generics sales in 2006 rose 6.9% to EUR 1,819 million while the operating result rose 29% to EUR 307 million. Merck Generics, which has nearly 5,000 employees, sells products in more than 90 countries and maintains a global network of production and marketing operations.
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