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Merck to sell generics to Mylan for 4.9 bn euros

German drugs and chemicals group Merck KGaA said it had signed a share purchase agreement with Mylan Laboratories Inc under which the US firm will acquire its generics business for 4.9 bn euros.
Reuters | By HT Correspondent, Berlin
UPDATED ON MAY 13, 2007 04:15 PM IST

German drugs and chemicals group Merck KGaA said on Sunday it had signed a share purchase agreement with Mylan Laboratories Inc under which the US firm will acquire its generics business for 4.9 billion euros.

Merck said the agreement was subject to regulatory approval and that it expected the transaction to close in the second half of 2007.

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