Issue Date: April 2, 2007
Bayer Will Acquire Novartis Facility
Bayer Schering Pharma will acquire Novartis' biologics facility in Emeryville, Calif., for $200 million. Novartis currently uses the facility to supply Bayer with interferon beta 1-b for Bayer's multiple sclerosis drug Betaseron. As part of the deal, Bayer will license rights to the drug to Novartis, which plans to launch its own branded version in 2009. Bayer will continue to pay royalties to Novartis until October 2008, when the companies' original regulatory filing expires, and will supply interferon beta 1-b to Novartis upon approval of the Swiss firm's version of the drug.
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