Fresenius Bulks Up on Complex Generics With Purchase of Akorn and Merck KGaA's Biosimilars Pipeline
We don’t anticipate a material change in our fair value estimate or narrow moat rating for Fresenius as we incorporate the firm’s announced acquisitions of Akorn and biosimilar assets from Merck KGaA. We plan to shift our Akorn fair value estimate to $34 to reflect the deal price. The combination of these assets improves Fresenius' manufacturing capabilities, scale, and access to more limited-competition products in the generics market. Additionally, it improves Fresenius’ product breadth and ma...
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