FRANKFURT (Reuters) - German drugmaker Merck KGaA <MRCG.DE> agreed to sell its allergy business Allergopharma to Dermapharm SE <DMPG.DE> for an undisclosed price but will continue to develop an autoinjector to treat allergic shock.
The deal over Allergopharma, which generated sales of 88 million euros in 2018, will likely be closed by the end of the second quarter, Merck said in a statement on Wednesday.
Merck's Allergopharma had been working for years on an adrenaline autoinjector for the treatment of anaphylactic reactions that could compete with Mylan's <MYL.O> EpiPen allergy shot for self administration.
Dermapharm is a family-controlled maker of generic drugs, cosmetics, dietary products and medical devices that went public two years ago.
(Reporting by Ludwig Burger; Editing by Christoph Steitz)