Pharma Industry
Industry: Email Alert RSS FeedBayer changes tune on fate of pharma unit. (News).(Bayer AG drops insistance on majority control of pharmaceutical partnership)
Chemical Market Reporter, November, 2002
BAYER AG has lifted a major barrier to the merger of its pharmaceutical unit with another drugmaker by dropping its insistence on majority control of a pharmaceutical partnership. "A possible partnership must not be prevented by rigid insistence on Bayer having a certain shareholding," Werner Wenning, Bayer's chairman, told a press conference at Leverkusen, Germany, last week.
"We can no longer realistically expect Bayer to have a majority interest in a partnership that would, at the same time, benefit our business." Mr. Wenning hints that the company's preferred option could be a 50/50 joint venture with another drug manufacturer, most likely in Europe. "I am talking about neither a minority or majority shareholding solution," he says. "I will not...
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