Mylan buys Merck KGaA's generics businesses
03 Jun 2008
Mylan has acquired the central and eastern Europe (CEE) generics businesses of Merck KGaA.
The pharmaceutical company has now taken advantage of an agreement struck with Merck KGaA last year when Mylan acquired the company's western European, Asia-Pacific, African and North American generics businesses.
As part of the deal, Mylan had the option to buy a further part of the business in central and eastern Europe, and the drugmaker will now have Merk KGaA's operations in Poland, Hungary, Slovakia, Slovenia and the Czech Republic.
Mylan vice-chairman and chief executive officer Robert Coury commented that the new acquisition will give the company access to an area that has strong growth opportunities in generics.
"It reflects our global strategy to leverage existing platforms, rather than create start-up organizations. In that respect, we believe the CEE businesses will benefit significantly from Mylan's scale, vertical and horizontal integration, and robust product portfolio," he commented.
Mylan has operations in more than 90 countries and employs nearly 12,000 people.
