Below you will find a history of significant acquisitions and divestitures of the last years within the Bayer Group.
Other years: 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Business combinations and other acquisitions in fiscal 2009
Acquisition costs in 2009 amounted to €404 million (2008: €932 million). The purchase prices of the acquired companies or businesses were settled mainly in cash. Goodwill arising on these acquisitions totaled €177 million (2008: €380 million) and related principally to the following transactions:
On June 25, 2009, we acquired the remaining 10% of the shares of Bayer Polymers (Shanghai) Co. Ltd., China, for €24 million. The difference between the carrying amount of this 10% interest and the purchase price was recognized as goodwill.
On October 1, 2009, we acquired two dermatology product lines from SkinMedica, Inc., Carlsbad, California, United States, for €43 million. These prescription medications, Desonate® and NeoBenz® Micro, are marketed in the United States. The main components of the difference between the carrying amount of the acquired net assets and the purchase price are €37 million pertaining to production rights and trademarks for the two product lines and €5 million of goodwill.
On November 2, 2009, we acquired Athenix Corporation, a privately held biotechnology company headquartered in Research Triangle Park, North Carolina, United States, for €286 million. The purchase price includes future milestone payments of approximately €24 million that will fall due upon the achievement of certain development goals. Athenix has an extensive herbicide tolerance and insect control trait development platform, particularly for corn and soybeans. The main components of the difference between the carrying amount of the acquired net assets and the purchase price are an amount of €217 million pertaining to development technologies which is reflected in other rights, €69 million in deferred taxes and €132 million of goodwill. The goodwill relates mainly to the anticipated synergies from an increase in our ability to provide farmers worldwide with new technologies and complete agricultural solutions from sowing through to harvesting. Since the purchase price allocation has not yet been completed, changes may yet be made in the allocation of the purchase price to the individual assets.
Divestitures and discontinued operations in fiscal 2009
Proceeds from divestitures, including those detailed below, in 2009 totaled €454 million.
The strategic alliance with Genzyme Corporation, United States, announced on March 31, 2009, was implemented at the end of May 2009. In accordance with the agreement terms,
we transferred the hematological oncology portfolio – Campath®/MabCampath®, Fludara® and Leukine® – to Genzyme. The divested assets were recognized as assets held for sale starting in the first quarter of 2009. They comprised €92 million in goodwill, €150 million in patents, €25 million in other intangible assets and €30 million in inventories. We are continuing our established co-development partnership with Genzyme for the active substance alemtuzumab for an indication in multiple sclerosis. A related payment of €55 million was received in 2009. The present value of anticipated future revenue-based payments is €363 million.
In May 2009 we acquired the remaining 49% interest in Berlimed, S.A., Spain, from Juste S.A. Quimica Farmacéutica (Juste), and in return
sold our 51% share of Justesa Imagen, S.A., Spain, to Juste for €16 million. A payment of €3 million was received in 2009 and a receivable for the remaining amount was therefore recognized in the statement of financial position.
In addition,
we sold the Thermoplastics Testing Center, Krefeld, Germany, to Underwriters Laboratories, Inc., United States, for €18 million in May 2009.
