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Home Industry News Merck KGaA generics first round bid ends

Merck KGaA generics first round bid ends

16th March 2007

The first round of bidding for the generic pharmaceuticals unit of Merck KGaA has ended, according to reports, with companies including Actavis, Mylan and Teva joining Indian firm Ranbaxy in the next round, according to industry sources.

A consortium including another Indian firm, Cipla, is believed to have not made it to this stage of the process, though managing director Amar Lulla told the Financial Express that the firm was still in consideration for the acquisition.

The Economic Times claims that Barr Pharmaceuticals and Stada Arzneimittel did not pass the first phase of bidding, AFX reports, citing sources close to Merck, while reporting that Mylan Laboratories and Israeli firm Teva Pharmaceuticals are still in the running.

Ranbaxy has declined to issue a statement regarding these reports, with a spokesperson telling Reuters that the company does not comment on speculation.

“We do not comment on speculation,” a spokesman told Reuters.

In January 2007, Merck reported that it intends to make a capital increase of 2-2.5 billion euros (1.37-1.71 billion pounds) in the first quarter of the year, irrespective of its plans to investigate the sale of its generics unit.

The company noted that its generic pharmaceuticals division is ranked third in the world, reporting 1.8 billion euros in revenues during 2005 with an operating result of 238 million euros.

Dr Michael Roemer, chairman of the board of Merck, stated that the company was considering the sale of this unit as a result of “far reaching changes” that were occurring in the pharmaceutical market.

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