Mergers and Acquisitions

German drug maker Bayer to combine blood plasma unit with Aventis

Published in Blood Weekly, April 18th, 2002

Bayer AG moved to bolster its ailing health care business, announcing plans Wednesday to merge its U.S.-based unit that makes blood-plasma products with a rival owned by Aventis of France.

Bayer, Germany's biggest drug maker, said it had signed a letter of intent to take a "substantial majority interest" and management control of the venture, which will have annual sales of more than $2 billion. Bayer also would have an option to buy the stake held by Aventis at a later date.

Bayer is in the midst of an overhaul launched last year to shore up earnings after patient deaths forced it to withdraw the lucrative anti-cholesterol treatment Lipobay,...

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Source: Blood Weekly (2002-04-18)

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