Merck seeks buyer for its generic drugs business

|

merck DARMSTADT, Germany (AFX) - Merck KGaA is considering selling its generics drugs business to focus on new medication, according to a report in Handelsblatt newspaper, citing sources.

Merck (nyse: MRK )'s generics unit could be worth around 4 bln eur, added the report.

The company's supervisory board has already given 'the green light' to look for a buyer, the report stated, citing sources.

Financial investors are most likely to purchase the generics drugs business, it added.

The sale would enable Merck to help finance its 10.6 bln eur acquisition of Swiss biotech company Serono SA (nyse: SRA).

A Merck spokesman declined to comment to the newspaper.

source - AFX