Merck KGaA To Sell Theramex To Teva For EUR275 Million
28 Octobre 2010 - 5:57PM
Dow Jones News
German pharmaceutical and chemical company Merck KGaA said
Thursday it will sell its Theramex unit to Teva Pharmaceutical
Industries Ltd. (TEVA) for EUR275 million.
Theramex, a pharmaceutical company specializing in women's
health, had around EUR100 million in sales in 2009. The company
plans to enter the contraceptive market.
Under the deal, Merck will still receive some milestone payments
and retain distribution rights for Theramex products in certain
countries, such as Spain and Brazil.
The deal, subject to regulatory approval, is expected to close
at year-end or in early 2011.
"As Theramex is entering the contraceptive market, we firmly
believe that a combination with Teva will not only contribute to
growing its position in the gynecological market but also to
building a major player in the area of contraceptives," Elmar
Schnee, executive board member at Merck KGaA said in a press
release.
Merck KGaA has said it aims to focus on its core business, which
doesn't include contraceptives.
In Teva's most recent foray into Germany earlier this year, it
acquired Ratiopharm, making it the world's number one generic drug
maker.
-By Frankfurt Bureau, Dow Jones Newswires; +49 69 29725 500;
djnews.frankfurt@dowjones.com