Merck's Manufacturing Unit Purchased

Africa’s largest drugmaker, Aspen Pharmacare Holdings is going to purchase Merck & Co.’s (NYSE:MRK) pharmaceutical manufacturing unit. They also took the option to buy a products unit. The entire deal is worth about $1 billion.According to Aspen chief executive officer Stephen Saad, “The active pharmaceutical ingredients are hard to source or replicate, and this allows us strong pipelines.” This is a chance for the company to extend its reach in emerging markets, such as Asia and Latin America. Read the full story.