20 February 2007 - Bayer HealthCare strengthens presence in Eastern Europe
Leverkusen – Bayer HealthCare has taken over the marketing and distribution network of its partner Pharmonyx Ltd. in Russia, Belarus, the Ukraine and Kazakhstan. Pharmonyx has been responsible for marketing and distributing BHC’s products in these countries since 1999. Both parties have agreed to refrain from commenting on the financial details of the takeover.
“This transaction is in line with the global strategy of Bayer HealthCare for further expansion in the health care business and will also strengthen our presence in the fast-growing Eastern Europe region,” said Arthur Higgins, Management Board Chairman of Bayer HealthCare AG. “The establishment of a competitive organization will help us to achieve our goal of sustained growth in what are extremely important markets for the future.”
This new organizational alignment will strengthen Bayer HealthCare’s presence in Eastern Europe and provide a boost to the expansion plans of its Consumer Care, Bayer Schering Pharma and Diabetes Care divisions. 219 staff will be integrated into the Bayer HealthCare organization under the terms of the transaction. The majority of the new employees will continue to provide Sales and Marketing support for medical practices and pharmacies in the future.
Bayer HealthCare
Bayer HealthCare, a subgroup of Bayer AG, is one of the world’s leading innovative companies in the health care and medical products industry.
The company combines the activities of its Animal Health, Consumer Care, Diabetes Care and Pharmaceuticals Divisions under the name Bayer Schering Pharma AG.
Bayer HealthCare’s aim is to discover, develop, manufacture and market products that will improve human and animal health worldwide.
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 public reports filed with the Frankfurt Stock Exchange and 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.
