VEM plans to sell Ratiopharm due to terms of $545 million loan

NEW YORK The holding company that owns the world’s fourth largest generic drug maker will have to sell it, under a deal that allowed it to obtain a loan from several banks.

VEM, owned by Germany’s Merckle family, will sell the drug maker Ratiopharm as part of the conditions for its obtaining a bridging loan that Reuters reported amounted to $545 million. Ludwig Merckle will also step down as head of VEM.

Merckle is the son of Adolf Merckle, the German billionaire who committed suicide Monday.