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Acquisition agreement for Beijing Skywing Technology

Companies: Merck KGaA
Beijing Skywing Technology
Announcement date: Jan 05 2011
Deal value, US$m: 18.3 : acquisition value

Details

Announcement date: Jan 05 2011
Industry sectors: Bigpharma
Pharmaceutical
Services

Financials

Deal value, US$m: 18.3 : acquisition value

Termsheet

5 January 2011

Merck KGaA has acquired Beijing Skywing Technology Co.

The purchase price was CYN 120 million (approx. EUR 14 million).

Press Release

Merck KGaA Acquires Supplier to Biopharma Industry in China

5 January 2011

Darmstadt, Germany, January 5, 2011 - Merck KGaA announced today that it has acquired 100% of the share capital of Beijing Skywing Technology Co., Ltd., a leading supplier of cell-culture media products, related technical services and bioreactors for the Chinese biopharmaceutical industry. The company is headquartered in the Changping district of Beijing and currently employs 80 people. The purchase price was CYN 120 million (approx. EUR 14 million).

“The acquisition allows Merck to immediately establish a direct presence in this market segment in China with access to an attractive and innovative cell-culture media portfolio, close relationships to local customers, a skilled management team and a high-quality facility. These capabilities will enable Merck Millipore Process Solutions to strengthen the upstream processing offer to customers in China so that they can manufacture biopharmaceuticals safely and efficiently,” said Burghard Freiberg, Head of the Business Field Pharm Chemicals Solutions of the Merck Millipore division.

“Beijing Skywing Technology is one of the leading players in the cell-culture media market in China with very close business relationships to vaccine manufacturers and an excellent reputation in the local biotech industry. In addition, this access to the Chinese biopharmaceutical market can be utilized to leverage other Merck Millipore consumables sales like chromatography media, filtration devices and disposable bioreactor solutions,” added Dr. Matthias Bucerius, Head of Sales Asia, Pharm Chemicals Solutions of the Merck Millipore division.

The Chinese biopharmaceutical market will grow by 20% over the next years, primarily driven by the local vaccine and antibody industries, according to market research companies.

Within its Chemicals business sector Merck employs more than 600 employees in China. Headquartered in Shanghai, Merck has a sales network that covers 18 major cities. Merck holds leading positions in China in life science products, Liquid Crystals for display applications and effect pigments.

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