India's biggest drug maker Ranbaxy Laboratories Ltd has put in its bid to acquire generic business of German pharmaceutical firm Merck.
Germany-based Merck KGaA, the world's oldest multinational pharmaceutical company, is eyeing to acquire a prominent Indian pharmaceutical company and established drug brands.
The Indian major is eyeing German Merck's generic drug business.
Karl-Ludwig Kley, chairman of the executive board, Merck, spoke to Business Standard about the company's plans and how it is weathering the global financial crisis.
The new drugs to come under price control include commonly-used antibiotics and painkillers
Having cut eight deals last year, the $1.3 billion pharma major Ranbaxy probably has the sharpest negotiating skills in the business.
European regulators have estimated that consumers are paying up to 20 per cent more for medicines in some cases.
According to information available on the European Commission website, Ranbaxy Laboratories has been fined euro 10.32 million (over Rs 80 crore).