Ranbaxy, Cipla bid for Merck KGaA's generics branch

03/13/2007 | Financial Express (India), The

Ranbaxy Laboratories Ltd. and Cipla Ltd., two Indian drugmakers, offered bids for the German Merck's generic drugs unit, but Dr Reddy's Laboratories did not by deadline. Although the bids were not disclosed, the Merck KGaA generics unit was estimated to be worth $5.3 billion. Sources said the auction is likely to be very competitive, as several other firms are eyeing the unit as well.

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Financial Express (India), The

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