TEVA MAY ACQUIRE MERCK KGAA'S GENERICS ARM
Teva Pharmaceutical Industries may buy Merck KGaA's generic drugs division for $5.3 billion, reports the Israeli business newspaper Globes, which cited German news reports.
In addition to Teva, Novartis' Sansoz division may also be eyeing the acquisition, "despite the fact that the two companies may encounter regulatory difficulties," according to Globes.
Reports say that the Merck is considering the sale in wake of the German drugmaker's recent acquisition of Swiss biotechnology company Serono.
Teva, based in Israel, has been one of the largest generic drugmakers in the world since it bought Ivax in 2005 for $8.8 billion, according to Globes. Since last year analysts have expected the company to make another acquisition to further expand its generics business.