The Bayer Group
announced yesterday it plans to sell the Diagnostics Division of Bayer HealthCare to Siemens AG, Munich, Germany, for 4.2 billion Euros (roughly $5.25B at the current exchange rate). The divestment was approved by the Bayer Supervisory Board. Closing of the transaction is expected for the first half of 2007, subject to the approval of antitrust authorities. The division employs more than 5,000 people worldwide and had sales of 1.4 billion Euros last year ($1.75B).
According to Bloomberg Siemens is realigning the company to focus on medical technology, transportation, automation and energy. The group
acquired Diagnostic Products Corporation in April. Bayer will focus its remaining healthcare business on pharmaceuticals and direct-to-consumer products.
more...
June 30, 2006
Related topics:
Mergers & Acquisitions, Diagnostic
The U.S. Food and Drug Administration (FDA) today
announced that Baxter Healthcare Corp. and two of its top corporate executives have signed a consent decree of condemnation and permanent injunction for certain infusion pumps made by the firm. They agreed to stop manufacturing and distributing all models of the Colleague Volumetric Infusion Pump and the Syndeo Patient Controlled Analgesic Syringe Pump in the U.S. until they correct manufacturing deficiencies and until the devices are made in compliance with FDA's current good manufacturing practice (
CGMP) requirements and the Quality System (QS) regulation for devices. Under the consent decree, FDA will allow the firm to continue to provide routine service maintenance, or to replace components, parts, or accessories for the Colleague and Syndeo Infusion Pumps that were already in the hands of customers before October 12, 2005.
Related entry:
FDA Adds Safety Recommendations for Baxter Colleague Pumps
07/07/2006 update:
Baxter pump case puts FDA on alert
more...
June 29, 2006
Related topics:
Product Recalls
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