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Announcing An Important News Break!
Thu October 02, 2003 09:16 AM ET
FRANKFURT - Germany's Bayer AG said on Thursday it planned to sell its blood plasma business, but would exclude its key Kogenate line of products and hemophilia franchise from the sale. The plasma business had sales of $343.4 million in the first half of 2003. The unit is headquartered at Research Triangle Park in North Carolina, and employs 1,350 people, mostly in the United States, Bayer said in a statement. A Bayer spokesman said talks had not yet started.
A company source had told Reuters on Wednesday that Bayer was considering the sale of at least part of its blood products unit.
The range of biological products derived from blood plasma includes drugs such as Gammimune for treatment of immunodeficiency disorders and Prolastin for congenital pulmonary emphysema. Bayer shares were down 2.24 percent at 18.31 euros, under performing the DAX index, which was down 0.37 percent.
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