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Bayer Schering Pharma strengthens its oncology R&D portfolio
Company assuming full development and commercialization rights
Berlin, August 7, 2008 - Bayer Schering Pharma AG, Germany, is expanding its
oncology pipeline with the acquisition of a preclinical oncology program from
Nycomed, a pharmaceutical company headquartered in Switzerland. The agreement
comprises two potential drug candidates and an extensive set of back-up
compounds targeting a kinase critical for growth and survival of cancer cells.
Bayer Schering Pharma will assume full development and commercialization rights
of the program. The company is making this investment after Nycomed has taken
the strategic decision to not further invest in oncology R&D activities.
"The acquisition of this promising program strengthens Bayer Schering Pharma´s
oncology pipeline as it is complementary to existing in-house approaches," says
Prof. Andreas Busch, Member of the Board of Management of Bayer Schering Pharma
AG, responsible for Global Drug Discovery. "The deal underpins our commitment
to oncology research and our long-term aspiration to provide new treatment
options for patients suffering from cancer."
Nycomed will receive an initial reward and payments upon completion of agreed
preclinical and regulatory milestones. Overall compensations could total at 52
million Euro.
Oncology is one of four focus areas of Bayer Schering Pharma's research. The
most prominent product from this therapeutic field is a multi-kinase-inhibitor
with the active ingredient sorafenib which is already approved in numerous
countries for treatment of renal cell and liver cancer and is being
investigated for a wide range of other cancers. In addition, several new drug
candidates are currently in the phase of clinical testing.
About Nycomed
Nycomed is a privately owned pharmaceutical company that provides medicines for
hospitals, specialists and general practitioners, as well as over-the-counter
medicines
in selected markets.
The company is active in a range of therapeutic areas, focusing on
gastroenterology, respiratory, inflammation, pain management, osteoporosis and
surgical management. New products are sourced both from its own research and
from business partners.
Nycomed is European based with a presence in over 50 countries worldwide and an
increasing emphasis on fast growing markets. The combined group employs 12,000
people. In 2007, it had annual sales of EUR 3.5 billion and an adjusted EBITDA
of EUR 1.2 billion. For more information visit www.nycomed.com
About Bayer Schering Pharma
The Bayer Group is a global enterprise with core competencies in the fields of
health care, nutrition and high-tech materials. Bayer HealthCare, a subsidiary
of Bayer AG,
is one of the world's leading, innovative companies in the healthcare and
medical products industry and is based in Leverkusen, Germany. The company
combines
the global activities of the Animal Health, Consumer Care, Diabetes Care and
Pharmaceuticals divisions. The pharmaceuticals business operates under the name
Bayer Schering Pharma. Bayer HealthCare's aim is to discover and
manufactureproducts that will improve human and animal health worldwide.
Find more information at www.bayerhealthcare.com.
Bayer Schering Pharma is a worldwide leading specialty pharmaceutical company.
Its research and business activities are focused on the following areas:
Diagnostic Imaging, General Medicine, Specialty Medicine and Women's
Healthcare. With innovative products, Bayer Schering Pharma aims for leading
positions in specialized markets worldwide. Using new ideas, Bayer Schering
Pharma aims to make a contribution to medical progress and strives to improve
the quality of life.
Find more information at www.bayerscheringpharma.de.
