Merck KGaA Regroups In France

11 August 1996

The German pharmaceuticals group Merck KGaA has started the reorganization of its main drug-sector businesses in France. Its two French subsidiaries, Lipha and Merck Clevenot, are being merged into a new company designated Merck Lipha, which will be based in Lyon, France. Lipha produces pharmaceuticals while Merck Clevenot, in addition to prescription drugs, makes equipment for laboratory analysis, reagents for diagnosis and cosmetics raw materials.

The president of the new company will be Jean-Noel Treilles, currently president of Lipha, with Karl Heinz Peter, president of Merck Clevenot, as vice president. The aim of the reorganization is to reduce the number of areas of group management responsibility in France.

Despite the business revival reported by Merck KGaA in the first six months of 1996 (Marketletter August 5), analysts Mark Tracey and John Murphy at Goldman Sachs are reiterating their rating of the firm as a market underperformer.

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