Subsequent Events

At the beginning of January 2016, two contracts entered into with BioMarin Pharmaceutical Inc., USA (BioMarin), became effective. Firstly, the sale of the rights to Kuvan®, a drug used to treat the metabolic disorder known as phenylketonuria (PKU), was agreed. And secondly, Merck returned its option to develop and commercialize Peg-Pal to BioMarin. Based on these two agreements, in January 2016 Merck received an upfront payment of € 340 million for the sale of the rights to Kuvan® as well as an entitlement to milestone payments of up to € 185 million. The financial statements of Merck KGaA prepared in accordance with the German Commercial Code are only affected by this via future dividend payments from subsidiaries. More information can be found in Note [4] “Acquisitions, assets held for sale and disposal groups” in the Notes to the Group accounts.

Subsequent to the balance sheet date, no further events of special importance occurred that could have a material impact on the net assets, financial position or results of operations.