Bayer Completes Transaction Involving Plasma Business.LEVERKUSEN, Germany -- Kogenate(R) product line remains in Bayer HealthCare portfolio Bayer today confirmed it has completed its previously announced transaction to contribute the assets of its worldwide plasma products business to Talecris Biotherapeutics, Inc., a newly formed corporation controlled by affiliates of Cerberus Capital Management, L.P., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , and Ampersand The ampersand (&) normally means "and" as in Jones & Company. However, in the computer world, it is used in various ways. In Windows, it is used as a code to precede an underlined character. Ventures, Wellesley, Mass. The overall transaction volume amounts to approximately US $590 million (approximately EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 450 million), including cash, a 10 percent equity interest in Talecris Biotherapeutics Holdings Corp., retention of selected working capital items, and contingent payments of up to US $60 million. All plasma activities in the United States were transferred to Talecris, which is maintaining its headquarters in Research Triangle Park Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. , N.C. In most other countries in which Bayer has been distributing plasma products, Bayer companies will continue to distribute plasma products on behalf of Talecris. Bayer and Talecris also have entered into several service and supply arrangements. "Divesting the plasma business is a further important strategic step toward Bayer HealthCare's realignment re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. ," commented Werner Wenning, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bayer AG. "We are now focusing our resources on the consumer health business, medicines for humans and animals, and high-performance diagnostic systems." At the beginning of this year, Bayer already closed the acquisition of Roche's consumer health activities, thus becoming one of the global market leaders in non-prescription medicines. The recombinant factor VIII factor VIII n. A factor in the clotting of blood, a deficiency of which is associated with hemophilia A. Also called antihemophilic factor, antihemophilic globulin, antihemophilic globulin A, business, comprising the Kogenate(R) product line for the treatment of hemophilia A hemophilia A n. Hemophilia due to deficiency of factor VIII, characterized by prolonged clotting time, decreased formation of thromboplastin, and diminished conversion of prothrombin. , is not part of the transaction and remains in Bayer HealthCare's portfolio. "Kogenate(R) is one of the most valuable and strategically important products in the Bayer HealthCare portfolio. It is integral to our long-term strategy as we continue to realign our business, and allows us to build on our leadership position in the global hemophilia market," said Arthur Higgins, chairman of the executive committee of Bayer HealthCare. Due to the distribution agreement, Bayer will report revenues from the distribution of the plasma products outside of the United States -- amounting to some 40 percent of total sales revenues for these products -- under continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the . Bayer's sales of plasma products in 2004 totaled EUR 660 million. They include Polyglobin(R), Gamimune(R) N, and Gamunex(R) for the treatment of immunodeficiency disorders, and Prolastin(R) for the treatment of congenital pulmonary emphysema pulmonary emphysema n. See emphysema. . Leverkusen, April 1, 2005 fo (2005-Nr.) About Bayer HealthCare AG Bayer HealthCare AG, a subsidiary of Bayer AG, is one of the world's leading, innovative companies in the health care and medical products industry. In 2004, the Bayer HealthCare subgroup generated sales amounting to some 8.5 billion Euro. The company combines the global activities of the divisions Animal Health, Biological Products, Consumer Care, Diabetes Care, Diagnostics and Pharmaceuticals. Bayer HealthCare employed 35,300 people worldwide in 2004. Bayer HealthCare's aim is to discover and manufacture innovative products that will improve human and animal health worldwide. The products enhance well-being and quality of life by diagnosing, preventing and treating disease. Information about Bayer Biological Products Division can be found at www.bayerbiologicals.com. Forward-looking statements This news release contains forward-looking statements based on current assumptions and forecasts made by Bayer Group management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in our annual and interim reports to the Frankfurt Stock Exchange Frankfurt Stock Exchange The largest of Germany's eight securities exchanges, operated by Deutsche Borse AS. and in our reports filed with the U.S. Securities and Exchange Commission (including our Form 20-F). The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. |
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