Merck KGaA to Acquire Majority Stake in Serono for $13.3 Billion

Sep 21, 2006
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Geneva, Switzerland (Sept. 21)––Merck KGaA (Darmstadt, Germany, has agreed to buy a majority stake in the European biotechnology company Serono SA (Geneva, Switzerland, for CHF 16.6 billion ($13.3 billion). The deal is expected to close in early 2007.

Merck KGaA’s ethical pharmaceutical division will be combined with Serono to create a new company, Merck-Serono Biopharmaceuticals, globally headquartered in Geneva, Switzerland, with US headquarters in Boston, Massachusetts.

The combined company will have pro-forma sales of EUR 7.7 billion ($9.8 billion), which includes EUR 3.6 billion ($4.6 billion) in biopharmaceutical sales.

Earlier in 2006, Merck KGaA had lost its bid to acquire Schering AG (Berlin, Germany,, eventually deferring to Bayer Healthcare (Leverkusen, Germany,, which is acquiring Schering AG.

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