Merck KGaA sells generics business to Mylan

Published: 5-Oct-2007

Merck KGaA has completed the sale of its worldwide Generics business to Mylan Laboratories of Pennsylvania, US.


Merck KGaA has completed the sale of its worldwide Generics business to Mylan Laboratories of Pennsylvania, US.

Mylan acquired all Merck Generics companies throughout the world for Euro 4.9bn.

Proceeds of the sale will be booked in the fourth quarter. Merck intends to use the funds to pay down debt.

As part of the transaction, Mylan has the right to use the Merck name in connection with the acquired business for a transitional period of up to two years after closing.

Merck Generics generated €1,819m of sales in 2006.

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