Bayer "will not break up Schering AG"

The chairman of Bayer AG, Werner Wenning, has said that his company will not proceed to break up Schering AG following the takeover of the Berlin-based drug group (see also story page 3). However, Mr Wenning declined to say where the planned reduction of 6,000 jobs worldwide would occur, adding that this was something to be decided jointly with Schering.

Mr Wenning went on to say that, in the integration process, there would be no winners and losers. He said he had agreed with the chairman of Schering, Hubertus Erlen, that, whoever is best at doing the job, will be selected regardless of which of the two companies they are employees. The intention is to group the pharmaceutical activities of both companies into an entity to be called Bayer-Schering-Pharma with its base on Schering's existing site, in Gemany's capital, Berlin.

Mr Wenning also said that the takeover would provide a considerable advance in the development of new cancer treatments, pointing out that, through the merger, there was the chance to combat this disease more quickly and more effectively.