Merck KGaA Sells Théramex To Teva for EUR 265 million
Acquisition will provide Teva with a strong platform to expand its Global Women’s Health Business
Merck KGaA announced that it will sell Théramex, its Monaco-based pharmaceutical company specialized in women’s health and gynecology, to Teva. Merck and Teva have signed an agreement whereby Teva will acquire all Théramex operations including 100% of the shares of Théramex S.A.M of Monaco and Théramex S.p.A. of Italy for a consideration of EUR 265 million. In addition, Merck will be eligible to receive certain performance-based milestone payments. Teva will have the distribution rights of Théramex products in certain countries including Spain and Brazil; Merck Serono will continue distributing Théramex products in certain other countries.
The divested Théramex business represents about EUR 100 million of sales in 2009, including sales in the countries where distribution rights will be acquired by Teva. The agreement is subject to regulatory approval. Closing of the transaction is expected towards the end of this year or early 2011.
“Theramex has built a solid reputation in France and Italy as a company dedicated to women’s health and gynecology. As Théramex is entering the contraceptive market, we firmly believe that a combination with Teva will not only contribute to growing its position in the gynecological market but also to building a major player in the area of contraceptives,” said Elmar Schnee, Member of the Executive Board of Merck and Head of the Merck Serono division, adding: “Merck Serono will pursue its strategy focused on delivering innovations to patients in its core therapeutic areas: neurodegenerative diseases, oncology, fertility, rheumatology and endocrinology; as well as bringing cardiometabolic care products in emerging markets where access to general medicines remains a high unmet medical need.”
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