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BUSINESS
April 1, 1999 | Reuters
Bayer Corp., the U.S. unit of the German chemicals and pharmaceuticals giant, said it planned to spend $5.1 billion on research and development in the U.S. from 2000 to 2004, a significant increase from current spending levels. The unit said the lion's share of the R&D spending will be devoted to its life sciences segment, which includes prescription drugs and over-the-counter medicines. It said an additional $3 billion would be pegged for capital spending during the five-year period.
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BUSINESS
November 6, 2007 | From Reuters
Germany's Bayer has temporarily suspended global sales of its anti-bleeding drug Trasylol, which has been linked to a higher risk of death, pending final results of a Canadian study on the medicine. Trasylol is used to prevent blood loss in patients during heart bypass surgery.
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BUSINESS
August 15, 2001 | From Reuters
The family of an Oklahoma man who died of kidney failure after taking cholesterol drug Baycol is suing the drug's U.S. manufacturer, Bayer Corp., a family attorney said Tuesday. It was the first announcement of a U.S. suit linking Baycol with deceased patients who took the drug and the first suit in which class-action status is being sought, said the lawyer, Don Strong of Strong, Martin & Associates. Bayer Corp.'
BUSINESS
January 24, 2007 | From the Associated Press
Thirty states, including California, have reached an $8-million settlement with Bayer Corp. over allegations that the drug maker failed to adequately warn consumers about risks associated with a cholesterol-reducing drug. The company allegedly learned after introducing Baycol in the U.S. in February 1998 that the drug posed significantly greater health risks than other similar drugs, Pennsylvania Atty. Gen. Tom Corbett said in a statement Tuesday.
BUSINESS
August 28, 2003 | From Bloomberg News
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.
CALIFORNIA | LOCAL
July 4, 1995 | VIVIEN LOU CHEN, TIMES STAFF WRITER
A new $7.3-million film industry building has opened on what used to be a parking lot owned by the Lockheed Aircraft Co., marking the first time that Lockheed property has been redeveloped since the aerospace giant pulled out of the city. The 116,000-square-foot structure at 3800 Vanowen St. will be leased by the Agfa subsidiary of Bayer Corp., which manufactures motion-picture film in Europe and distributes it in California. John E.
BUSINESS
January 24, 2007 | From the Associated Press
Thirty states, including California, have reached an $8-million settlement with Bayer Corp. over allegations that the drug maker failed to adequately warn consumers about risks associated with a cholesterol-reducing drug. The company allegedly learned after introducing Baycol in the U.S. in February 1998 that the drug posed significantly greater health risks than other similar drugs, Pennsylvania Atty. Gen. Tom Corbett said in a statement Tuesday.
BUSINESS
August 27, 2003 | From Bloomberg News
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.
NEWS
October 17, 2001 | SHARON BERNSTEIN, TIMES HEALTH WRITER
As hospitals and pharmacies struggled to keep up with rising demand for the antibiotic Cipro, the drug's manufacturer promised Tuesday to keep its plants open 24 hours a day to boost supplies. At least one influential legislator, however, urged the Food and Drug Administration to take further steps to broaden the supply. Sen. Charles E. Schumer (D-N.Y.
BUSINESS
January 24, 2001 | From Associated Press
Bayer Corp. agreed Tuesday to pay $14 million to the federal government, California and 44 other states to settle allegations it caused doctors and other health-care providers to submit inflated reimbursement claims to the Medicaid health insurance program, the Justice Department said.
BUSINESS
September 30, 2006 | From Reuters
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.
BUSINESS
March 25, 2006 | From the Associated Press
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.
BUSINESS
August 28, 2003 | From Bloomberg News
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.
BUSINESS
August 27, 2003 | From Bloomberg News
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.
BUSINESS
May 22, 2003 | From Bloomberg News
A U.S. judge ruled that the 1997 agreement between Barr Laboratories Inc. and Bayer to end a patent suit over the anthrax treatment Cipro wasn't anti-competitive, according to Barr. U.S. District Judge David G. Trager in Brooklyn, N.Y., rejected arguments that the settlement violated antitrust laws. The ruling narrows the scope of some 38 antitrust lawsuits filed by consumers and wholesalers against Pomona, N.Y.-based Barr and Leverkusen, Germany-based Bayer.
BUSINESS
October 26, 2001 | Bloomberg News
Bayer has conspired to fix the price of anti-anthrax drug Cipro and acted to delay the production of generic versions, consumer advocacy groups claim in a lawsuit. Joining a suit filed last year in New York, the groups claim that Bayer and Barr Laboratories Inc. manipulated the prices of Cipro, which has been prescribed after a series of anthrax infections in New York, Washington, New Jersey and Florida that has claimed three lives. The original suit by Louisiana Wholesale Drug Co.
BUSINESS
October 26, 2001 | Bloomberg News
Bayer has conspired to fix the price of anti-anthrax drug Cipro and acted to delay the production of generic versions, consumer advocacy groups claim in a lawsuit. Joining a suit filed last year in New York, the groups claim that Bayer and Barr Laboratories Inc. manipulated the prices of Cipro, which has been prescribed after a series of anthrax infections in New York, Washington, New Jersey and Florida that has claimed three lives. The original suit by Louisiana Wholesale Drug Co.
BUSINESS
September 30, 2006 | From Reuters
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.
NEWS
October 17, 2001 | SHARON BERNSTEIN, TIMES HEALTH WRITER
As hospitals and pharmacies struggled to keep up with rising demand for the antibiotic Cipro, the drug's manufacturer promised Tuesday to keep its plants open 24 hours a day to boost supplies. At least one influential legislator, however, urged the Food and Drug Administration to take further steps to broaden the supply. Sen. Charles E. Schumer (D-N.Y.
BUSINESS
October 3, 2001 | From Bloomberg News
Bayer said Tuesday that it has agreed to buy Aventis CropScience for about $4.9 billion in cash to become the biggest maker of insecticides and help replace lost income from the withdrawn cholesterol treatment Baycol. The purchase from Aventis and Schering will yield annual savings of about 500 million euros with an elimination of 4,000 jobs, Bayer Chief Executive Manfred Schneider said at a news conference. The company also will assume $1.
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