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Business
Ranbaxy Bids For Merck Generics Arm
March 19, 2007
| A version of this story appeared in
Volume 85, Issue 12
New Delhi-based Ranbaxy Laboratories confirms that it has put in a bid to acquire the generic pharmaceuticals business of Merck KGaA. Ranbaxy says it was compelled to comment on rumors of its interest in the unit in order to deny that its offer is worth as much as $6 billion. The $6 billion figure appearing in media reports is "incorrect and speculative," Ranbaxy says. Merck is selling the business to help pay for its acquisition of Serono, the Swiss biotech company. Merck's generics business reported sales of $2.3 billion in 2006.
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