Ratiopharm, Phoenix to be sold

NEW YORK Two companies formerly owned by Adolf Merckle, the German industrialist who committed suicide, will be sold, according to published reports.

Reuters reported that sources familiar with the matter said creditor banks would sell Ratiopharm, a generic drug maker, and Phoenix, a drug wholesaler. The banks will appoint one trustee for each company to oversee the process.

Ratiopharm is the fourth-largest generic drug maker in the world.