Chairman’s Letter
Sale of diagnostics business completed
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Highlights
Sale of diagnostics business completed
Leverkusen – In January 2007, the Diagnostics Division of Bayer HealthCare was sold to Siemens AG, Munich, Germany, for €4.3 billion. For Bayer the after-tax proceeds of the divestment were about €3.6 billion, which is to be used to reduce financial debt. The divestment is in line with Bayer HealthCare’s strategy of focusing on pharmaceuticals for both humans and animals, and products that can be promoted directly to patients. The consumer-influenced Diabetes Care Division is not affected by the transaction, nor is Schering’s contrast agents (diagnostic imaging) business.
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