September 30, 2006 |
German drug maker Bayer mistakenly failed to inform U.S. regulators about a study on the risks of widely used heart surgery drug Trasylol before an advisory panel met and ruled that the side effects were acceptable, the company said. The Food and Drug Administration said the early findings from a new review of hospital records from 67,000 patients suggested that Trasylol use might increase the chances of death, serious kidney damage, congestive heart failure and strokes.
March 25, 2006 |
Bayer's offer for drug maker Schering was embraced by its target Friday as German rival Merck abandoned its own takeover offer. Bayer's 16.3-billion-euro ($19.6-billion) bid late Thursday trumped Merck's hostile 14.9-billion-euro ($17.9-billion) offer for Schering made March 13. Bayer CEO Werner Wenning said 6,000 jobs probably would be eliminated after the acquisition, and the company did not plan to divest any Schering units.
May 17, 2005 |
Former Bayer executive Wolfgang Koch has agreed to plead guilty to colluding in a price-fixing scheme that drove up the cost of rubber chemicals used to make tires, outdoor furniture and shoes in the U.S. during a three-year period, the Department of Justice said Monday. The plea agreement marks the latest development in a long-running antitrust investigation into an international price-rigging ring formed by some of the world's biggest rubber chemical manufacturers.
October 1, 2004 |
Bayer's U.S. unit agreed to plead guilty and pay a $33-million fine for conspiring to fix prices of a chemical used to make plastic grocery bags and other consumer products. The guilty plea by Bayer Corp. would be the first in a U.S. government investigation into price fixing for the chemical additive used in a variety of products, the Justice Department said. From Bloomberg News * PalmOne Inc.
August 28, 2003 |
Baxter International Inc., the world's largest maker of blood disease treatments, settled a lawsuit accusing Bayer Corp. and a former employee of stealing trade secrets about Baxter's products. Terms of the agreement weren't disclosed. Baxter had claimed that Gopal Dasari, a former Baxter Healthcare Corp. scientist who joined Bayer in May, had copied files on Baxter's products for hemophilia, cancer and kidney disease.
August 27, 2003 |
Baxter Healthcare Corp., a unit of the world's largest maker of blood disease treatments, is in settlement talks with Bayer Corp. to resolve an industrial espionage case. Attorneys for the companies told U.S. District Judge William Alsup in San Francisco that they were close to settling Baxter's suit, which alleges that Gopal Dasari, a former Baxter scientist who joined Bayer in May, copied files on Baxter's leading products for hemophilia, cancer and kidney disease.