Degussa Acquires Muro In USA
German chemical and pharmaceutical group Degussa has acquired Muro Pharmaceuticals of the USA. Degussa's subsidiary Asta Medica already had a 20% stake in the US company. The deal is subject to approval by the US Federal Trade Commission, and has been funded mainly through 63,000 Degussa shares, which corresponds to 31.5 million Deutschemarks ($20.6 million). If the existing stake is included, Degussa has paid a total of $350 million for Muro.
Under the terms of the agreement, Asta has an option on a new product. Muro specializes in the development and production of respiratory system drugs, and according to Degussa, has increased its sales fourfold since 1992 to around $120 million.
Degussa will report earnings for the fiscal year ended September 30, 1996 in November, and expects its pretax profits will be slightly above those reported a year earlier.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze