Fresenius picks up Merck biosimilars unit, Akorn

The Fresenius Kabi subsidiary of Fresenius SE & Co. KGaA (Xetra:FRE; OTCQX:FSNUY) said it will acquire the biosimilar business of Merck KGaA (Xetra:MRK), as well as generics company Akorn Inc. (NASDAQ:AKRX).

Fresenius will pay Merck €170 million ($184.6 million) up front. Merck is eligible for €500 million ($542.8 million) in milestones, plus single digit royalties on biosimilar sales...