Merck KGaA Goes On A Shopping Spree

October has already seen three company acquisitions by Germany's MerckKGaA, which the firm says are part of its ongoing strategy in the pharmaceuticals business. The purchase prices of the three firms are not being disclosed.

The first is Wolfrastshausen, Bavaria-based generics drugmaker Durachemie GmbH, which specializes in marketing and distributing generic drug products. Durachemie's sales last year reached 95 million Deutschemarks ($53.9 million), made up from 70 or so products in high-volume indications such as the cardiovascular, central nervous system and lipid metabolism areas.

Together with Merck Generika GmbH, which was founded in 1996, this makes Merck one of Germany's top 10 suppliers of generics products, and the only one with a worldwide generics business. Merck's total generics sales in 1996 amounted to 620 million marks. For first-half 1997, generics revenues were 500 million marks, showing a 71.4% increase on first-half 1996.