Bayer Schering Pharma AG is a research-centered pharmaceutical company that was formed by the merger of Schering with Bayer on December 29 2006. The company was originally founded in 1851 by Ernst Schering (1824-1889). 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 & andrology, oncology and also special therapeutics, diagnostical devices & nuclear medicine. Schering 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).^[1]

Collaborative Research

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.^[2][3] The company is expanding its activities in joint research projects within the framework of the Innovative Medicines Initiative of EFPIA and the European Commission.^[4]

Bayer's Takeover Bid

On March 13, 2006, Merck KGaA announced a ?14.6bn bid for Schering http://inter-x.info/en/web/index.html. 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 March 23, 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 February 17 2007 the company publicly announced that 1,000 jobs would be cut through voluntary redundancy from the Berlin operations with effect until March 2008.

References

External links

de:Bayer Schering Pharma eo:Bayer Schering Pharma sv:Bayer Schering Pharma AG