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Mylan completes acquisition of generics business of Merck KGaA
PITTSBURGH- Oct. 2 /PRNewswire-FirstCall/ -- Mylan (NYSE: MYL)
announced today that it has completed its acquisition of Merck
KGaA's generics business ("Merck Generics") to become one of the
largest quality generics and specialty pharmaceuticals companies in
the world. Mylan and Merck KGaA initially announced the signing of
a definitive agreement under which Mylan would acquire Merck
Generics for EUR 4.9 billion ($6.8 billion) in an all-cash
transaction on May 12- 2007.
Robert J. Coury- Mylan's Vice Chairman and Chief ExecutiveOfficer said- "The new Mylan now has all of the critical attributeswe need to ensure future success and deliver powerful growth. Wehave enhanced scale and stability- a truly global reach- verticaland horizontal integration- and breadth and depth in our managementteam. Most importantly- we have a common purpose and dedication toexecuting on our strategy and delivering superior shareholderreturns."
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