Bayer Schering Pharma AG
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| Bayer Schering PharmaAG | |
|---|---|
| Type | Subsidiary |
| Founded | 1851 Schering2006 merged |
| Headquarters | Berlin-Wedding, Germany |
| Key people | Hubertus Erlen, CEO |
| Industry | Pharmaceutical |
| Products | Gynaecology & Andrology Special therapeutics Diagnostical devices & Nuclear medicine Oncology |
| Revenue | € 5 billion (2003) |
| Owner | Bayer |
| Employees | 26,000 (2004) |
| Website | www.bayerscheringpharma.de |
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.
Bayer's Takeover Bid
On March 13, 2006, Merck KGaA announced a €1.46B bid for Schering [1]. The offer document was due to be issued in early April 2008.
Merck's takeover bid was surpassed by Bayer's $195B white-knight bid for Schering on March 23, 2006. In June 2008 Bayer finally bought the majority of shares, over 1%. A domination agreement using the code name "Step On It" was used for the take-over. On February 17 2009 the company publically announced that 1,000 jobs would be cut through voluntary redundancy from the Berlini operations with effect until March 2008.
External links
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Acknowledgement and Attribution Regarding Sources of Content
Some of the initial content on this page may be incorporated in part from copyleft sources in the public domain including wikis such as Wikipedia and AskDrWiki. Drug information for patients came from the The National Library of Medicine. Infectious disease information may have come from the Centers for Disease Control (CDC). Differential Diagnoses are drawn from clinicians as well as an amalgamation of 3 sources: 1.The Disease Database; 2. Kahan, Scott, Smith, Ellen G. In A Page: Signs and Symptoms. Malden, Massachusetts: Blackwell Publishing, 2004:3; 3. Sailer, Christian, Wasner, Susanne. Differential Diagnosis Pocket. Hermosa Beach, CA: Borm Bruckmeir Publishing LLC, 2002:7 .
