Bidding war heats up for Merck KGaA generic unit

Ranbaxy and Cipla have confirmed bidding for the generic drug unit of Merck KGaA. No figures were given, but analysts expect that the business could fetch up to $6.58 billion. Dr. Reddy's, meanwhile, has pulled out of the bidding, saying that it expects the price to go too high. Teva, Actavis and Mylan Laboratories--which are often mentioned as the most serious bidders--all reportedly made offers for the business by Merck KGaA's March 12 deadline.

- read the AFX report on the bids
- and here's a report from the AP

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