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

Latest Issue
PharmTech

Latest Issue
PharmTech Europe

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


ePT--the Electronic Newsletter of Pharmaceutical Technology

Untitled Document

Geneva, Switzerland (Sept. 21)––Merck KGaA (Darmstadt, Germany, www.merck.de) has agreed to buy a majority stake in the European biotechnology company Serono SA (Geneva, Switzerland, www.serono.com) 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, www.schering.de), eventually deferring to Bayer Healthcare (Leverkusen, Germany, www.bayer.de), which is acquiring Schering AG.

ADVERTISEMENT

blog comments powered by Disqus
LCGC E-mail Newsletters

Subscribe: Click to learn more about the newsletter
| Weekly
| Monthly
|Monthly
| Weekly

Survey
FDASIA was signed into law two years ago. Where has the most progress been made in implementation?
Reducing drug shortages
Breakthrough designations
Protecting the supply chain
Expedited reviews of drug submissions
More stakeholder involvement
Reducing drug shortages
32%
Breakthrough designations
11%
Protecting the supply chain
37%
Expedited reviews of drug submissions
11%
More stakeholder involvement
11%
View Results
Jim Miller Outsourcing Outlook Jim Miller Health Systems Raise the Bar on Reimbursing New Drugs
Cynthia Challener, PhD Ingredients Insider Cynthia ChallenerThe Mainstreaming of Continuous Flow API Synthesis
Jill Wechsler Regulatory Watch Jill Wechsler Industry Seeks Clearer Standards for Track and Trace
Siegfried Schmitt Ask the Expert Siegfried SchmittData Integrity
Sandoz Wins Biosimilar Filing Race
NIH Translational Research Partnership Yields Promising Therapy
Clusters set to benefit from improved funding climate but IP rights are even more critical
Supplier Audit Program Marks Progress
FDA, Drug Companies Struggle with Compassionate Use Requests
Source: ePT--the Electronic Newsletter of Pharmaceutical Technology,
Click here