(RTTNews.com) – German drug maker Merck KGaA said it is on track to complete the acquisition of life science company Sigma-Aldrich Corp. and is is the process of fulfilling antitrust commitments to the European Commission.
The acquisition is expected to close within the next two months. Merck in August had forecast to complete the transaction in the third quarter.
The planned acquisition of Sigma-Aldrich for about $17 billion or 13.1 billion euros was announced in September 2014.
Merck said negotiations with potential buyers are in the final stage to sell parts of Sigma-Aldrich’s solvents and inorganics business. This was a condition set for obtaining European Commission approval. Merck on August 11 announced that it had obtained all other necessary antitrust approvals.
Merck added that once a binding agreement has been signed, the European Commission needs to approve the buyer before Merck can proceed with the completion of the Sigma-Aldrich acquisition.
Sigma-Aldrich shareholders approved the merger with Merck in December 2014. Merck has also completed its capital markets activities to finance the transaction with the placement of a 2.1 billion euro bond at the end of August.
Giovanni Caforio, the former CEO of Bristol Myers Squibb, is set to become the next board chairman of Novartis, which on Tuesday proposed the pharmaceutical industry veteran as its pick to replace Joerg Reinhardt in the role next year. Reinhardt has served as Novartis’ chair since 2013 and plans to retire when his 12-year term ends in 2025.
GE HealthCare has raised the curtain on two ultrasound systems equipped with artificial intelligence programs designed to assist in diagnosing conditions in women’s health, including obstetric exams. The Voluson Signature 20 and 18 imaging systems include AI tools capable of automatically identifying and annotating measurements of fetal anatomy.
Scientists from the University of Edinburgh’s School of Chemistry have revealed a new sustainable method of manufacturing complex molecules that could reduce waste produced during drug production. The method published in Nature Chemistry could help to prevent severe side effects caused by drugs that can exist as enantiomers.
