Friday, January 05, 2007

Are Merck bailing out of generics?

You tell me.

The FT seem to think so:

Merck, the German chemicals-to-pharmaceuticals group, is considering the sale of its generic drugs business to help fund its €10.5bn ($14bn) takeover of Swiss biotechnology company Serono announced in September.

The family-controlled group hopes the move could raise €3bn-€4bn, according to a person familiar with Merck, and focus its pharmaceuticals activities on prescription drugs, which would then make up 60 per cent of total sales.

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