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
What role should the US government play in the current Ebola outbreak?
Finance development of drugs to treat/prevent disease.
Oversee medical treatment of patients in the US.
Provide treatment for patients globally.
All of the above.
No government involvement in patient treatment or drug development.
Finance development of drugs to treat/prevent disease.
28%
Oversee medical treatment of patients in the US.
9%
Provide treatment for patients globally.
9%
All of the above.
41%
No government involvement in patient treatment or drug development.
13%
Jim Miller Outsourcing Outlook Jim MillerCMO Industry Thins Out
Cynthia Challener, PhD Ingredients Insider Cynthia ChallenerFluorination Remains Key Challenge in API Synthesis
Marilyn E. Morris Guest EditorialMarilyn E. MorrisBolstering Graduate Education and Research Programs
Jill Wechsler Regulatory Watch Jill Wechsler Biopharma Manufacturers Respond to Ebola Crisis
Sean Milmo European Regulatory WatchSean MilmoHarmonizing Marketing Approval of Generic Drugs in Europe
FDA Reorganization to Promote Drug Quality
FDA Readies Quality Metrics Measures
New FDA Team to Spur Modern Drug Manufacturing
From Generics to Supergenerics
CMOs and the Track-and-Trace Race: Are You Engaged Yet?
Source: ePT--the Electronic Newsletter of Pharmaceutical Technology,
Click here