Armour and Behringwerke To Create A Joint Venture.PENNSYLVANIA, USA and MARBURG, Germany--(BUSINESS WIRE)-- Feb. 23, 1995--Armour Pharmaceutical Company, a subsidiary of Rhone- Poulenc Rorer Inc. (NYSE NYSE See: New York Stock Exchange : RPR (Resilient Packet Ring) A packet-based protocol that provides fault tolerance and statistical multiplexing for the metropolitan and national SONET and Ethernet networks of the carriers. ), and Behringwerke AG, a subsidiary of Hoechst AG Hoechst AG was a German life-sciences company that became Aventis after its merger with Rhône-Poulenc S.A. in 1999. It has been called "The pharmacy of the world" due to its important role in the world's drug market. , announced the signing of an agreement to form a joint venture in the highly competitive field of plasma proteins. Under the terms of the agreement, both companies will contribute to the joint venture all of the assets of their respective plasma operations in exchange for a one-half equity interest in a new entity. A priority of the joint venture would be to increase the availability of innovative products through its enhanced capacity to invest in research and development. Armour and Behringwerke have complementary product lines, that if combined, would provide a broad range of life-saving therapies to patients throughout the world. The companies also complement each other geographically as Armour has a strong presence in the United States, while Behringwerke is principally in Europe and Japan. Over the last decade, Armour and Behringwerke have both developed important product and technology innovations in the plasma protein field. Both companies also use liquid pasteurization pasteurization (păs'ch  rĭzā`shən, -rīzā`shən), partial sterilization of liquids such as milk, orange juice, wine, and beer, as well as cheese, to destroy for viral inactivation inactivation /in·ac·ti·va·tion/ (in-ak?ti-va´shun) the destruction of biological activity, as of a virus, by the action of heat or other agent. and have active programs in recombinant and gene therapy research. The agreement is subject to regulatory approval by agencies of the United States government and the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community . Behringwerke is a global pharmaceutical company dedicated to the discovery, development, manufacturing and marketing of plasma proteins, vaccines and diagnostic products. Armour is a global pharmaceutical company dedicated to the discovery, development, manufacturing and marketing of plasma proteins. CONTACT: Armour Beth Leahy, 610/454-3879 or Catherine LeLouarn, (33) 140-91-4168 or Behringwerke AG Wolfgang Faust, (49) 6421-39-4189 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion