BRISTOL-MYERS, BAYER IN BID TO ACQUIRE DUPONT DRUG UNIT

AsiaInfo Services, June, 2001

AsiaInfo Services 06-07-2001 Bristol-Myers, Bayer in Bid to Acquire DuPont Drug Unit SHANGHAI, Jun 07, 2001 (AsiaPort via COMTEX) -- Bristol-Myers Squibb Co. and Bayer AG are the leading bidders for DuPont Co.'s pharmaceuticals business, which may fetch as much as US$8 billion, the Financial Times reported, citing unidentified people close to the talks. A transaction may be completed by the middle of this week, the paper said.

DuPont, which makes the AIDS treatment Sustiva and has 21 drugs in development, wants to sell or spin off the unit because it's too small to be competitive. New York-based Bristol-Myers is seeking acquisitions to help overcome setbacks in its own drug business. Two of the company's biggest products, the Taxol cancer treatment and...

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