Bayer Strengthens Pharmaceuticals Division

With a new business partnership in the United States, German chemicals giant Bayer is seeking to strengthen its pharmaceuticals division, which has suffered from a drop in sales. As part of the company's reorganization of its health-related businesses, Bayer on Monday announced it had closed a sweeping marketing cooperation deal with US competitor Schering-Plough. Under the terms of the deal, Schering will take over the marketing and sales of a number of Bayer drugs available on the US market. During the first half of 2004, the Leverkusen-based company generated revenues of €350 million ($428 million) in the effected divisions.