E Merck Gains From Baxter Sale

28 May 1995

With the announcement that Baxter International is selling its Industrial and Life Sciences division to VWR Corporation for approximately $400 million, Germany's E Merck (a leading European pharmaceutical and laboratory supply group) will get a stronger foothold in the US sector.

VWR, with 1994 sales of some $550 million, is the major distribution partner for Merck's laboratory chemicals in North America. The sales of the Baxter divisions operating in the same sector amount to around $450 million a year, says Merck.

Merck already has an equity stake in VWR, but now plans to increase this by around 15% to a total of 46%; its US-based subsidiary EM Industries will exercise its current warrants to purchase common stock for $11 per share and has agreed to purchase additional shares of VWR common stock for $12.44 per share, amounting to a total investment of some $230 million in equity and debt.

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 account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • 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



Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight