Apr 26, 2012 | Domain-B
Germany''s Merck acquires Europe''s largest biotech company
It is second time lucky for Merck. German pharmaceutical major Merck KGaA has reached an agreement to buy its rival and Europe's largest biotechnology company, Serono SA, for $13.3 billion.
Merck KGaA Plans to Close Serono Site in Geneva, Cut Jobs
Merck KGaA plans to close the Geneva headquarters of its Serono unit, five years after buying Europe's biggest biotechnology company for about $13.3 billion to expand a drug business that has since faced development and regulatory setbacks.