Hoechst Establishes Independent Units
As indicated in November 1996 (Marketletter November 11, 1996), theGerman chemical and pharmaceutical group Hoechst is to break up its parent company into a number of independently-run subsidiaries. One of the first of these units to be established is Behring Diagnostics GmbH, which will represent Hoechst's diagnostics business and be a legal entity owned by Hoechst.
Behring Diagnostics is one of the four core life sciences businesses within the Hoechst group. Behring Diagnostics expects to report sales of 1 billion Deutschemarks ($647.1 million) for 1996, and operating profits of 95 million marks.
The three other core business units are Hoechst Marion Roussel, Hoechst Roussel Vet and the crop protection and nutrition company, AgreEvo. At least 12 separate units are expected to be formed during 1997.
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