Merck takes number one spot in Nordic generics market
German company Merck KgaA has agreed to acquire most of NM Pharma, the generics business of Pfizer in Scandinavia, for a purchase price of €53.8m. The transaction will be closed as soon as all necessary regulatory approvals have been granted.
German company Merck KgaA has agreed to acquire most of NM Pharma, the generics business of Pfizer in Scandinavia, for a purchase price of €53.8m. The transaction will be closed as soon as all necessary regulatory approvals have been granted.
With headquarters in Stockholm, Sweden, the business achieved sales of €39.1m in 2003, and the acquisition will enable Merck Generics to consolidate its position and become the number one player in the Nordic generics market. In 2003, the generics market in the Nordic countries was worth approximately €600m, with an annual growth rate of 9%.
Merck will integrate the product portfolio into its existing Merck Generics infrastructure in Scandinavia. Because of the strong NM brand recognition, the new company will operate under the name of Merck NM.
'The acquisition of NM Pharma provides Merck Generics with a clear number one position in Scandinavia and a strong potential for future growth,' said Hank Klakurka, ceo of the Merck Generics Group. 'It is a perfect example of our strategy to grow organically as well as through attractive acquisitions.'