Ranbaxy Laboratories Submits Bid for Merck KGaA Division; Other Multiple Bids Submitted
FRANKFURT, Germany (AP) -- Indian drugmaker Ranbaxy Laboratories Ltd. said Tuesday it has submitted a bid for the generics unit of Germany's Merck KGaA, but did not disclose how much it was offering. Analysts say Merck's generics unit could be worth as much as 5 billion euros ($6.58 billion). Last year, the unit's sales rose 6.9 percent to 1.8 billion euros ($2.37 billion).