Bayer ‘may be looking for further acquisitions’

Bayer, the German pharmaceutical and chemicals group, has not ruled out further acquisitions after successfully concluding the takeover of Schering AG.

After recent reports suggesting that the new Bayer-Schering company would become one of the new “big pharma” firms, Bayer’s chief executive has not ruled out further acquisitions.

However, in a speech to the Frankfurt Club of Business Journalists, Werner Wenning said that integrating both Bayer’s pharmaceutical business and Schering AG was the company’s most pressing priority – and also dismissed notions that Bayer was coveting fellow German pharmaceutical company Altana.

Mr Wenning is quoted by AFX as saying: “Schering is a very important stepping stone for us.”

Last month, Altana’s president and chief executive officer revealed that his company would consider working with other companies to further development and keep the company “on course”.

He said: “We are striving to achieve a strategically long-term solution which we are discussing with potential partners.”

Some reports have suggested that Solvay have an interest in acquiring Altana, while Nycomed, a Danish drugs manufacturer, were also named as having an interest.

Altana’s recently-reported increased sales of pantoprozole, the gastrointestinal drug, and Alvesco, the inhaled corticosterdoid, could provide attractive opportunities for prospective bidders.

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