GENEVA, October 28, 2010 /PRNewswire/ -- Merck Serono, a
division of Merck KGaA, Darmstadt, Germany, announced today that it will sell
Théramex, its Monaco-based
pharmaceutical company specialized in women's health and
gynecology, to Teva. Merck KGaA 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 Serono 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 KGaA and President 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 cardio-metabolic care products
in emerging markets where access to general medicines remains a
high unmet medical need."
Commenting on today's transaction, Shlomo Yanai, Teva's President and Chief
Executive Officer, said: "This is an important acquisition for
Teva's women's health franchise. Théramex's diversified product
portfolio, its seasoned sales force and promising pipeline will be
combined with the strong R&D capabilities and product portfolio
of our U.S. women's health business. Together the global team will
accelerate the expansion of our women's health franchise into key
growth markets in Europe and
around the world and provide an excellent springboard for future
sales. We very much look forward to working together with
Théramex's experienced management team and having its work force
join the Teva family."
Since joining the Merck Group in 1999, Théramex has developed a
strong brand image and a reputation for quality among women's
health specialists. Today Théramex has more than 300 employees in
France and Italy and offers a large portfolio of products
in 50 countries, in the areas of gynecology, osteoporosis,
peri-menopause, menopause and contraceptives, including, Orocal(R),
Colpotrophine(R), Lutenyl(R), Monazol(R), Estreva(R), Antadys(R)
and Leeloo Gé(R). Théramex is also developing, in partnership with
Merck & Co., nomegestrol acetate (2.5mg)/17beta-estradiol
(1.5mg), a combined oral contraceptive containing a unique
combination of a natural estrogen identical to the estrogen
produced by the woman's own body and a selective progestin,
currently in registration in Europe.
J.P. Morgan is acting as exclusive financial advisor to Merck
KGaA.
About Teva
Teva Pharmaceutical Industries Ltd. (NASDAQ:TEVA) is a leading
global pharmaceutical company, committed to increasing access to
high-quality healthcare by developing, producing and marketing
affordable generic drugs as well as innovative and specialty
pharmaceuticals and active pharmaceutical ingredients.
Headquartered in Israel, Teva is
the world's largest generic drug maker, with a global product
portfolio of more than 1,250 molecules and a direct presence in
approximately 60 countries. Teva's branded businesses focus on
neurological, respiratory and women's health therapeutic areas as
well as biologics. Teva's leading innovative product, Copaxone(R),
is the number one prescribed treatment for multiple sclerosis. Teva
employs more than 40,000 people around the world and reached
$13.9 billion in net sales in
2009.
About Merck Serono
Merck Serono is the division for innovative prescription
pharmaceuticals of Merck KGaA, Darmstadt, Germany, a global pharmaceutical and chemical
company. Headquartered in Geneva,
Switzerland, Merck Serono discovers, develops, manufactures
and markets innovative small molecules and biopharmaceuticals to
help patients with unmet medical needs. In the United States and Canada, EMD Serono operates through separately
incorporated affiliates.
Merck Serono has leading brands serving patients with cancer
(Erbitux(R), cetuximab), multiple sclerosis (Rebif(R), interferon
beta-1a), infertility (Gonal-f(R), follitropin alfa), endocrine and
metabolic disorders (Saizen(R) and Serostim(R), somatropin),
(Kuvan(R), sapropterin dihydrochloride) as well as cardiometabolic
diseases (Glucophage(R), metformin), (Concor(R), bisoprolol),
(Euthyrox(R), levothyroxine). Not all products are available in all
markets.
With an annual R&D expenditure of more than EUR 1 billion, Merck Serono is committed to
growing its business in specialist-focused therapeutic areas
including neurodegenerative diseases, oncology, fertility and
endocrinology, as well as new areas potentially arising out of
research and development in autoimmune and inflammatory
diseases.
About Merck
Merck is a global pharmaceutical and chemical company with total
revenues of EUR 7.7 billion in 2009,
a history that began in 1668, and a future shaped by approximately
40,000 (including Merck Millipore) employees in 64 countries. Its
success is characterized by innovations from entrepreneurial
employees. Merck's operating activities come under the umbrella of
Merck KGaA, in which the Merck family holds an approximately 70%
interest and free shareholders own the remaining approximately 30%.
In 1917 the U.S. subsidiary Merck & Co. was expropriated and
has been an independent company ever since.
For more information, please visit http://www.merckserono.com or
http://www.merck.de