Merck KGaA Acquires Generics Market Leader in Scandinavia
Pfizer's NM Pharma business acquired for EUR 54 million
Merck KGaA announced that it will acquire most of NM Pharma, the generics business of Pfizer in Scandinavia, for a purchase prize of EUR 53.8 million. The transaction will be closed as soon as all necessary regulatory approvals have been granted.
By acquiring NM Pharma, Merck Generics consolidates its leading position and will be the number one player in the Nordic generics market. With headquarters in Stockholm, Sweden, the acquired business achieved sales of EUR 39.1 million in 2003.
After closing of the transaction, Merck will integrate the product portfolio into its own existing Merck Generics infrastructure in Scandinavia. Because of the strong NM brand recognition, the new company will operate under the name of Merck NM. In 2003, the generics market in the Nordic countries represented a volume of approximately EUR 600 million, with an annual growth rate of 9 percent.
"The acquisition of NM Pharma provides Merck Generics with a clear number one position in Scandinavia and a strong potential for future growth", said Hank Klakurka, CEO of the Merck Generics Group. "It is a perfect example for our strategy to grow organically as well as through attractive acquisitions."
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