BERLIN, December 13 /PRNewswire-FirstCall/ -- Schering AG, Germany (FSE: SCH, NYSE: SHR), announced today that it will sell its fifty percent interest in the German distributor ALK-Scherax Arzneimittel GmbH at the start of 2006 to the Danish pharmaceutical company ALK-Abello A/S, which already owns a fifty percent interest in this company.
In 1997, ALK-Abello A/S and Schering AG formed ALK-Scherax to distribute and market ALK-Abello's products for the diagnosis and treatment of allergic diseases in Germany. Under the terms of the existing agreement, Schering AG's fifty percent interest would be transferred to ALK-Abello by December 31, 2010. However, ALK-Abello is seeking to buy Schering's fifty percent interest before the prescribed date. Schering has agreed to the transaction since the activities of ALK-Scherax are not part of Schering's core business.
The acquisition is subject to merger clearance. The final purchase agreement is expected to be concluded in the beginning of 2006.
Schering AG is a research-based pharmaceutical company. Its activities are focused on four business areas: Gynecology&Andrology, Oncology, Diagnostic Imaging as well as Specialized Therapeutics for disabling diseases. As a global player with innovative products Schering AG aims for leading positions in specialized markets worldwide. With in-house R&D and supported by an excellent global network of external partners, Schering AG is securing a promising product pipeline. Using new ideas, Schering AG aims to make a recognized contribution to medical progress and strives to improve the quality of life: making medicine work
This press release has been published by Corporate Communication of Schering AG, Berlin, Germany.
Find additional information at: www.schering.de/eng
Certain statements in this press release that are neither reported financial results nor other historical information are forward-looking statements, including but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and Schering AG's plans and objectives to differ materially from those expressed or implied in the forward-looking statements. Certain factors that may cause such differences are discussed in our Form 20-F and Form 6-K reports filed with the U.S. Securities and Exchange Commission. Schering AG undertakes no obligation to update publicly or revise any of these forward-looking statements, whether to reflect new information or future events or circumstances or otherwise.
Your contacts at Corporate Communication:
Media Relations: Oliver Renner, T: +49-30-468-124-31, oliver.renner@schering.de
Investor Relations: Peter Vogt, T: +49-30-468-128-38, peter.vogt@schering.de
Source: Schering AG
