Fresenius to buy Akorn and Merck KGaA’s biosimilars
Deals give Fresenius entry into rapidly growing biological drugs market
German generic drugmaker Fresenius Kabi has agreed to buy generics and formulation specialist Akorn for around $4.3 billion (£3.4 billion) in cash, as well as taking on $450 million of Akorn’s debt. At the same time, the company will pay €170 million (£145 million) up front for Merck KGaA’s biosimilars business, plus potential milestone payments of up to €500 million and royalties on any eventual sales.