New Force in NZ Specialty pharma

New Force in NZ Specialty pharma - Bayer Schering Pharma

Auckland, 31 January 2007 Bayer New Zealand Ltd will have a significantly strengthened pharmaceuticals division when the company's merger with Schering New Zealand Ltd becomes operational from Thursday (1 February 2007).

The merger is part of Bayer's worldwide acquisition of Schering AG, which is currently entering its final integration phase.

As a result of the integration, Bayer's pharmaceutical division has globally been renamed Bayer Schering Pharma, creating a major new force in the specialty pharmaceutical industry. In New Zealand, Bayer Schering Pharma will operate as a division of Bayer New Zealand Ltd.

Both Bayer New Zealand and Schering New Zealand are based on Auckland's North Shore, making the integration a smooth process.

The global merger is the largest acquisition in Bayer's history and, according to Hans-Dieter Hausner, General Manager, Bayer Schering Pharma Australia and New Zealand, "Marks a milestone in the company's history by creating a leader in specialty pharma and significantly strengthening the company's position in the New Zealand market.

"The global merger is aligned with the company's strategy to strengthen the pharmaceutical business and focus on specialty care, thus enabling a greater range of new, and highly effective therapeutic options for medical professionals and patients."

The new Bayer Schering Pharma division has six major business units - Women's Healthcare, Specialised Therapeutics, Primary Care, Oncology, Hematology/Cardiology, and Diagnostic Imaging. These encompass leading brands such as Yasmin(r) (oral contraceptive), Betaferon(r) (multiple sclerosis treatment), Levitra (erectile dysfunction) and Adalat(r) (high blood pressure treatment).

Importantly, according to Hausner, Bayer's mission 'Science For A Better Life', has been further strengthened by the global amalgamation. "It is our vision to be recognised as a company that drives medical progress and applies science to create a better life for millions of people around the world," he said.

With its global headquarters in Berlin, Bayer Schering Pharma stands among the top 10 specialty pharmaceutical companies worldwide. The company has an annual revenue of about 9 billion euros and employs more than 40,000 people in over 100 countries on a pro-forma basis.

The complete product portfolio from the former Bayer and Schering pharmaceuticals businesses will continue to be available in New Zealand through the Bayer Schering Pharma brand. The new organisation is committed to providing the highest level of service to its customers.

Bayer Schering Pharma in New Zealand will operate from Bayer New Zealand Ltd's premises at 3 Argus Place, Hillcrest, North Shore, Auckland. Further information about Bayer Schering Pharma can be found at www.bayerscheringpharma.de

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Bayer Schering Pharma, majority-owned by the Bayer Group, is a worldwide leading specialty pharmaceutical company. Its research and business activities are focused on the following areas: Women's Healthcare, Diagnostic Imaging, Specialised Therapeutics, Hematology and Cardiology, Primary Care and Oncology. With innovative products, Bayer Schering Pharma aims for leading positions in specialised markets worldwide. Using new ideas, Bayer Schering Pharma aims to make a contribution to medical progress and strives to improve the quality of life.

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