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|Articles|September 21, 2006
Merck KGaA to Acquire Majority Stake in Serono for $13.3 Billion
Author(s)Patricia Van Arnum
Merck KGaA has agreed to buy a majority stake in the European biotechnology company Serono SA for CHF 16.6 billion ($13.3 billion).
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Geneva, Switzerland (Sept. 21)––Merck KGaA (Darmstadt, Germany,
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,
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