The bids range from $5.3-6.6 billion. The pricing of the final bids is likely to be completed by May.
"Bloomberg" has reported that Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) is one of the five bidders that will go through to the final pricing stage in the bidding for German drug company Merck KGaA's generic division. "Bloomberg" bases its report on comments from two people directly involved in the tender.
"Bloomberg" said that joining Teva in the final pricing stage are drug companies Ranbaxy Laboratories Ltd. (BSE: 500359) of India, Mylan Laboratories Inc. (NYSE: MYL), Iceland's Actavis Group HF (IC:ACT), and a private equity consortium including Bain Capital and Apax Partners.
The bids for the Merck division range from $5.3-6.6 billion. Merck is selling the division to offset the debt it incurred following the acquisition of Swiss biotechnology company Serono SA (NYSE: SRA; SWX: SEO). The pricing of the final bids is likely to be completed by May.
Published by Globes [online], Israel business news - www.globes.co.il - on March 18, 2007
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