Bayer and Schering-Plough form strategic pharmaceuticals alliance
German drugmaker Bayer has entered into a strategic pharmaceuticalalliance with USA-based Schering-Plough, in a move which aims to maximize the companies' pharmaceutical and health care resources while maintaining individual strategic interests.
Under the terms of the accord, Bayer's primary health care products will be marketed and distributed by S-P in the USA and in Japan. The German firm also intends to create an oncology business unit with a global reach, in addition to realigning its operations in the USA to form Bayer HealthCare's speciality pharmaceuticals business, which will focus on high-profit speciality and biotechnology products, the company stated.
Bayer will absorb costs of 58-70 million euros
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