Other years: 2007 2006 2005 2004 2003 2002 2000 1999 1998
In 2001 a total of €514 million was spent on acquisitions. The purchase prices of the foreign acquisitions are translated at the exchange rates in effect at the respective dates of acquisition.
In June 2001, Bayer Corporation, United States, acquired at a cost of €116 million development, manufacturing and distribution rights for products to detect antibodies to the hepatitis C virus (HCV) and HIV from the strategic cooperation between Ortho-Clinical Diagnostics Inc., Raritan, New Jersey, and Chiron Corporation, Emeryville, California. This acquisition expands the Diagnostics Business Group’s portfolio of immunodiagnostic agents, strengthening its laboratory testing segment.
Bayer expanded its crop protection business in Europe on February 1, 2001 by acquiring MIKADO®, a leading corn herbicide, from Syngenta AG, Basel, Switzerland, for €115 million. The transaction covers business in the European Union and EFTA (European Free Trade Association) countries as well as patents, registrations, trademark rights, and production and formulation expertise.
Bayer AG has purchased a €93 million equity interest in CuraGen Corporation, New Haven, Connecticut, a leading biotech company. The objective of the collaboration agreement concluded with CuraGen in mid-January 2001 is to jointly develop and market novel drugs to treat obesity and diabetes. The intention is also to use special genomicsbased technologies to evaluate substances in Bayer’s early pharmaceutical research pipeline regarding their suitability for further clinical development.
On May 1, 2001, Bayer Corporation, United States, increased its equity ownership in PharmaNetics Inc., Raleigh, North Carolina, by a further €25 million for the Diagnostics Business Group. The existing distribution agreement with PharmaNetics was expanded to cover Theranostic tests (rapid diagnostic testing during drug therapy), a core component of the technology platform offered by PharmaNetics Inc. The agreement includes non-exclusive rights in the U.S. and exclusive rights elsewhere for the Diagnostics Business Group to distribute Theranostic tests.
In February 2001, Bayer acquired a €17 million equity interest in PPL Therapeutics plc, Edinburgh, United Kingdom. PPL Therapeutics is a biotech company involved in the discovery, development, production and marketing of genetically modified proteins for therapeutic purposes and food products. The Pharmaceuticals Business Group and PPL Therapeutics have concluded an agreement under which Bayer will pursue the clinical development of, and acquire, global exclusive marketing rights to the company’s major product, rAAT (recombinant alpha-1-antitrypsin). PPL Therapeutics intends to manufacture the product in a new facility currently scheduled for construction.
On February 12, 2001, the Pharmaceuticals Business Group purchased a €16 million equity interest in Avigen Inc., Alameda, California, a leading biotech company. The investment gives Bayer global, exclusive marketing and distribution rights to the gene therapy Coagulin-B™ developed by Avigen Inc. for the treatment of hemophilia B by gene transfer. Avigen Inc. intends to meet global demand for Coagulin-B™ from manufacture in a new production facility scheduled for construction.
On March 15, 2001, Bayer Corporation concluded an agreement on HIV and hepatitis C virus (HCV) tests with the biotech company Innogenetics N.V., Ghent, Belgium, for the Diagnostics Business Group. For €12 million Bayer acquired exclusive worldwide distribution and marketing rights, including rights to further developments in the future, for the HIV and HCV product lines manufactured by Innogenetics.
H.C. Starck GmbH, Goslar, Germany, a subsidiary of Bayer AG, acquired TeCe Technical Ceramics GmbH & Co. KG, Selb, Germany from Deutsche Shell GmbH for €9 million effective January 1, 2001. The acquisition complements H.C. Starck’s activities in surface technology and ceramics. The very good manufacturing conditions and geographical advantages support H.C. Starck’s aim of expanding its position in the U.S. market.
In December 2001, the Consumer Care Business Group of Bayer’s Mexican subsidiary Bayer de México, S.A. de C.V. purchased the marketing rights to Cevalin®, a leading vitamin C brand, and the well-known disinfectant Merthiolate® from Eli Lilly.
Bayer sold its 50 percent interest in EC Erdölchemie GmbH, Cologne, Germany to the other joint venture partner Deutsche BP AG, Hamburg, Germany, effective May 1, 2001, following approval from the E.U. Commission. The proceeds of the sale amounted to €476 million. Future raw material supplies from Erdölchemie to Bayer are contractually assured, as is the provision of services by Bayer to Erdölchemie.
Bayer Group company Wolff Walsrode AG sold its subsidiary Covexx Films, Walsrode, Germany, a company specializing in high-performance films, to Wipak, part of the Wihuri group of Finland, effective June 1, 2001.
Effective April 1, 2001, Bayer AG sold the H-acid production facilities on its Brunsbüttel site to Rütgers Elbechemie GmbH, a subsidiary of Rütgers VTF AG.
Bayer sold its interest in ChemDesign Corporation, Fitchburg, Massachusetts, to Chestnut Acquisition Corporation, Mendham, New Jersey, a subsidiary of Chestnut Investments LLC, Mendham, New Jersey, effective November 30, 2001. ChemDesign manufactures organic chemicals mainly for the agrochemical and photographic industries.
As part of the planned divestiture of Bayer’s fibers activities, the Dralon® business was sold to the Fraver group of Biella, Italy, at the beginning of the year.
