Dr Reddy's to join the race for Merck's generic business
By Our Corporate Bureau | 05 Feb 2007
Mumbai: Indian pharma major Dr Reddy's Labs is planning to join the race for acquiring Merck's generic business. The other Indian companies already in the running are Ranbaxy and Cipla. They have disclosed their interests in acquiring the company in partnership with private equity funds.
However, a Dr Reddy's spokesperson declined to comment on whether the company is in discussion with private equity funds for the acquisition. Sun Pharma and Wockhardt are yet to take a decision on attempting a bid.
The acquisition is likely to be valued over $5 billion.
Pharma analysts note that the Indian pharma company managements will have to seriously look at the generics business of Merck, as very few generic companies in the world match its size, distribution platforms, geographical reach and technologies.
Merck's Generics has major operations and facilities in Australia, Belgium, Canada, Germany, Italy, Netherlands, South Africa, Spain, UK, Sweden and USA. It is currently ranked among the top-ten global suppliers in the generics market and has a wide range of more than 400 products in all therapeutic areas.
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