December 16, 2000 |
* Abbott Laboratories agreed to acquire BASF's drug unit for $6.9 billion in a deal designed to boost its drug research business and give it access to a number of experimental medicines. The Knoll pharmaceutical unit, which employs 10,700 people, is expected to post $2.1 billion in sales this year, mainly because of its Meridia obesity treatment drug and its thyroid drug, Synthroid. The company also has other new projects, including the D2E7 arthritis drug, that make it a prize catch.
April 7, 2000 |
Four former executives of European vitamin companies agreed Thursday to plead guilty, pay fines and serve time in U.S. prisons for scheming to fix the prices of an alphabet soup of vitamins around the world during the 1990s, the Justice Department said. In four criminal cases filed in U.S. District Court in Dallas, the department charged three former BASF executives and one former F. Hoffmann-LaRoche Ltd.
April 6, 2000 |
Dow Chemical Co., DuPont Co. and Germany's BASF, Bayer and Celanese agreed to form an online venture that will supply the $50-billion market for plastics-related materials and equipment. The unnamed company will operate as a separate entity and is expected to start Oct. 1. The venture, which will supply thermoplastic resins, molding equipment, maintenance supplies and services, initially will be worth about $50 million, the companies said.
May 26, 1999 |
Roche Holding and BASF, which last week agreed to pay record U.S. fines totaling $725 million for conspiring to fix global vitamin prices, may also face stiff European Union fines, EU Competition Commissioner Karel Van Miert suggested. A resolution to the EU's own investigation is still months away, however, and Van Miert would not say which companies the EU may fine. Roche, Europe's fourth-biggest drug maker, agreed last week to pay $500 million--the largest U.S.
May 21, 1999 |
Two European giants in the vitamin industry agreed Thursday to plead guilty to criminal charges and pay a record $725 million in fines for conspiring to fix and inflate vitamin prices around the world in the 1990s. The scheme, said Justice Department officials, reached into virtually every American household through the artificial inflation of prices for over-the-counter dietary supplements and fortified products such as cereal and cattle nutrients.
October 8, 1998 |
Flex Products Inc. said BASF AG, one of Germany's largest chemical makers, agreed to settle a year-old patent suit by paying royalties to Flex if it uses two forms of the company's film pigments. Flex, a unit of Optical Coating Laboratory Inc., accused BASF of violating its patents in marketing an automotive-paint pigment in the U.S. Flex asked in the suit filed in U.S. District Court in Detroit that BASF be barred from importing, making or selling the pigment in the U.S.