Merck KGaA Completes Divestment of Biosimilars Business
Merck KGaA has completed its previously announced divestment of its biosimilars business to Fresenius after receiving the necessary regulatory approvals. The companies had announced the deal in April 2017.
With the sale, Merck KGaA receives an upfront payment of EUR156 million ($186 million) and potential milestone payments of up to EUR 500 million ($596 million) plus royalties on future product sales.
Merck KGaA and Fresenius also entered into supply and services agreements, which include drug-development support and manufacturing services for biosimilars. The biosimilars business was part of the Healthcare businesses sector of Merck KGaA. It is located in Vevey and Aubonne in Canton de Vaud, Switzerland. Following the completion of the transaction, both biosimilars sites continue to operate in Vevey and Aubonne.
Source: Merck KGaA