TITLE

Mylan buys Merck Generics for ¬4.9bn

AUTHOR(S)
Williams, Dede; Gibson, Jane
PUB. DATE
May 2007
SOURCE
ICIS Chemical Business;5/21/2007, Vol. 2 Issue 67, p11
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the sale of the generic drugs business of Merck to Mylan Laboratories for €4.9 billion. Merck plans to use the proceeds to pay down debt of € 5.5 billion, stemming mostly from last year's takeover of Swiss biologicals producer Serono. Newly appointed chief executive officer (CEO) Karl Ludwig Kley said that shedding generics would allow Merck to focus its resources on pharmaceuticals or chemicals.
ACCESSION #
25424533

 

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