Hoechst-Bain Joint Venture Cleared By EU

The European Commission has given clearance to a newly-created jointventure called Dade Behring Holdings, which has been set up by German drugmaker Hoechst and US firm Bain Capital. The joint venture is to be controlled by both companies, which will combine the groups' in vitro diagnostics activities.

The Commission says that the joint venture will lead to important additions of market share in the fields of drug monitoring and hemostasis diagnostics, where Dade Behring will have a 30%- 50% slice of some national markets.

The joint venture can expect stiff international competition, however, as all customers contacted by the Commission indicated that alternative suppliers are sufficiently strong to be effective competitors.