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Mylan completes acquisition of Merck's generic unit

Mylan has completed its acquisition of German pharmaceutical firm Merck KGaA's generics business, Merck Generics, to become the world's third-largest generics and specialty pharmaceuticals company

US-based generics manufacturer Mylan has completed its acquisition of German pharmaceutical firm Merck KGaA's generics business, Merck Generics, to become the world's third-largest generics and specialty pharmaceuticals company.

Mylan and Merck KGaA announced the signing of a definitive agreement under which Mylan would acquire Merck Generics for EUR 4.9bn (USD 6.7bn) in an all-cash transaction back in May 2007.

Mylan employs more than 11,000 people and has regional offices in more than 90 countries. The company's product pipeline consists of more than 570 products and has the world's second largest portfolio of active pharmaceutical ingredients (APIs) with 126 US drug master files (DMFs). The company has a global pipeline of more than 255 applications or dossiers pending regulatory approval.

Name change
Robert J Coury, Mylan's CEO, said: "The scale of the new Mylan is evident in every area of our business: we have scale in our geographic reach, scale in R&D, scale in manufacturing, scale in API, scale in our combined product portfolio and scale in our global commercial footprint."

"The Merck Generics business is even stronger than we expected and, through the integration planning, we have confirmed that we truly share a common culture and values centred on quality, integrity, reliability and service," added Coury.

Mylan also revealed that it would change its name from Mylan Laboratories to Mylan Inc to better reflect the broader scope of its business. The company also confirmed that it has changed its current financial year to begin reporting on a calendar year basis.

New EMEA director appointed
Mylan has appointed Didier Barret to the position of EMEA regional President (Europe, Middle East and Africa), following the acquisition of Merck's Generics unit.

At Merck Generics, Barret most recently served as director of the EMEA region, reporting to the CEO. He was promoted to the position in 2004 following his role as area director for southern Europe, where he was responsible for France, Belgium, Italy, Spain and Portugal.

Barret established Merck Generics' first operations in France in 1995, growing the business to exceed EUR 341m in sales by 2006. Before this, he had held several positions within Merck's branded division, including sales and marketing in the UK and France.

30th September 2008

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