Mylan beats Teva for Merck KGaA

Mylan Laboratories paid $6.7 billion for Merck KGaA’s generic business

Mylan Laboratories Inc. (NYSE: MYL) has acquired the generic business of Germany’s Merck KGaA (XETRA: MRK) for $6.7 billion.

Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA), the world’s largest generic pharmaceutical company, was reportedly Mylan’s chief rival in the tender. Mylan is Teva’s main competitor in the US generics market.

Published by Globes [online], Israel business news - - on May 13, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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