$4 Billion! Do I Hear $5 Billion?
1 CommentBy Ed Silverman // March 7th, 2007 // 3:21 pm
A little tidbit on Reuters says that Monday is the deadline for non-binding offers for Merck KGaA’s generics unit, which is the world’s third-largest with sales of about $2.3 billion.
The business is drawing tremendous interest from private equity - KKR, Carlyle, Warburg Pincus, Bain and Apax are supposedly circling. And, of course, other generics players are hot to score. In fact, the list of potential bidders reads like the proverbial who’s who: Dr. Reddy’s, Ranbaxy, Teva, Actavis, Mylan and Stada.
Conspicuously absent from the rumor mill is Novartis, which owns Sandoz, the second-biggest global generics outfit. In any event, the German drugmaker hopes to fetch $5.3 billion for its operation, underscoring the increasing appeal of generics and the subsequent race to consolidate. Not long ago, Barr bought Pliva and Watson scooped up Andrx. Who’s next?
[tags]Actavis, Dr. Reddy’s, Generics, Merck KGaA, Mylan Laboratories, Ranbaxy Laboratories, Teva Pharmaceuticals[/tags]
heknows
Of course Novartis did not go for it at this time of “fighting” the generics in India. It would just not look “nice” or they know somethig that others don’t. Rememebr they have their ingenious Doc at the ruther and he knows what moves are OK and whot are not.
Is it not ironic though, that second biggest generic maker is owned and run be second biggest “brand name” maker, big pharma. And if that is not enough, they use SANDOZ name for it. That is an old name of one of the most reputable brand name (not big) pharma company that stood for honesty, integrity and top quality. Now it is reduced to generic name/co. Is anything sacret in this business??? Not any more.