Bayer Schering Pharma AG
Bayer Schering Pharma AG is a research-centered pharmaceutical company that was formed by the merger of Schering with Bayer on 29 December 2006. The company was originally founded in 1851 by Ernst Christian Friedrich Schering (1824-1869). The company employs more than 26,000 people in 140 subsidiaries all over the world. The company's headquarters are in Berlin-Wedding, Germany and the forerunner company Schering's annual gross revenue was nearly € 5 billion (2003). They retain the largest German manufacturing facility which is located in Bergkamen. The company focuses on the business areas of gynaecology and andrology, oncology, and also special therapeutics, diagnostical devices, and nuclear medicine. Schering's best-known product is their line of combined oral contraceptive pills.
Through Bayer Healthcare AG, Bayer Schering Pharma is a full member of the European Federation of Pharmaceutical Industries and Associations (EFPIA).
In addition to internal research and development activities, Bayer Schering Pharma is also involved in publicly funded collaborative research projects, with other industrial and academic partners. One example in the area of non-clinical safety assessment is the InnoMed PredTox. The company is expanding its activities in joint research projects within the framework of the Innovative Medicines Initiative of EFPIA and the European Commission.
Bayer's takeover bid
On 13 March 2006, Merck KGaA announced a €14.6 billion bid for Schering. The offer document was due to be issued in early April 2006.
Merck's takeover bid was surpassed by Bayer's $19.5B white-knight bid for Schering on 23 March 2006. In June 2006 Bayer finally bought the majority of shares, over 96%. A domination agreement using the code name "Step One" was used for the take-over. On 17 February 2007 the company publicly announced that 1,000 jobs would be cut through voluntary redundancy from the Berlin operations with effect until March 2008.
- "The Pharmaceutical Industry in Figures - 2008 Edition". European Federation of Pharmaceutical Industries and Associations (EFPIA). p. 49. Archived from the original on 16 September 2008. Retrieved 2008-08-25.
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- "InnoMed PredTox Member Organizations". Archived from the original on 26 September 2008. Retrieved 2008-08-25.
- Innovative Medicines Initiative. "IMI Call Topics 2008". IMI-GB-018v2-24042008-CallTopics.pdf. European Commission. Retrieved 2008-08-25.[dead link]