Synthelabo, Monsanto unit alter deal

Article Abstract:

Synthelabo SA and G.D. Searle, a drug division of Monsanto Co., have conceded on a two-year extension of an option agreement that allows Synthelabo to buy full control of Lorex Pharmaceuticals. Under the new plan, Synthelabo's option to acquire Searle's Lorex stake will be extended to April 16, 2002, from the original schedule of end of 1998. The new terms also specifies that the eventual selling price will be based on a progressive percentage of Lorex's annual sales in the 12 months prior Synthelabo's purchase of full control. France-based drug maker, Synthelabo, currently owns 49% and Searle holds the remaining 51% in the two companies' US joint venture, Lorex.

Comment:

Will exercise option to acquire GD Searle's stake in JV Lorex Pharmaceuticals under a revised option agreement

Asset sales & divestitures, Foreign operations, Parent-to-subsidiary activities, Subsidiary-to-parent activities, G.D. Searle and Co., Lorex Pharmaceuticals

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Hoechst ends talks with Rhone-Poulenc

Article Abstract:

Hoechst AG and Rhone-Poulenc SA have terminated negotiations for a possible merger, but both say they are open on finding other strategic partners as part of their ongoing corporate reorganizations. Despite the termination of talks, Hoechst was still able to sell its paints unit Herberts GmbH to DuPont Co. for $1.89 billion. Also, Rhone-Poulenc posted an 8.6% increase in third-quarter net income, to $205.4 million. However, its sales dropped 5% to 20.38 billion francs from 21.93 billion francs. A Rhone-Poulenc official says there is still a positive overall earnings momentum for the company.

Comment:

Terminates negotiations for a possible merger w/ Hoechst AG, but both still look for other strategic partners

Germany, Chemicals & Allied Products, Chemical Manufacturing, Chemicals, Hoechst AG, Rhone-Poulenc Sante

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French drug duo looks to next deal; Sanofi and Synthelabo seek expansion in U.S

Article Abstract:

Newly-merged Sanofi S.A. and Synthelabo S.A. has announced its intent to speed up growth in the international market. The drug giant will be focusing on the United States for the acquisition of specific drugs or entire companies.

Pharmaceutical Preparation Manufacturing, Pharmaceutical Preparations, Abstract, Sanofi S.A., Sanofi-Synthelabo S.A.

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