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Marijn Dekkers

Report: Novartis Opens Animal Health Books to Bayer, Lilly

Swiss drugmaker Novartis is ready to sell its animal health subsidiary and has opened its books to Bayer and other rivals interested in a business that could change hands for more than 3 billion euros ($4.1 billion), sources familiar with the matter told Reuters.Germany's Bayer is seeking to bolster its position as a diversified life sciences company while Novartis Chief Executive Joe Jimenez and Chairman Joerg Reinhardt have said they are considering options for non-core assets that lack the scale to become world leaders.Suitors including Bayer, Eli Lilly of the United States and Germany's unlisted Boehringer are conducting due diligence assessments of the business, the financial sources said.Bayer is interested in expanding its animal health business, CEO Marijn Dekkers told Reuters at a pharmaceuticals conference in London on Tuesday, though he declined to comment on whether it was looking at the Novartis assets.Eli Lilly was not immediately available for comment outside business ho...

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    Bayer suggested there was room to lift prices at its high-tech plastics and chemicals business this year to counter soaring raw material costs that squeezed first qu...

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    Bayer AG on Monday said it will buy Conceptus, Inc. , whose flagship product is a surgery-free permanent birth control method, for $1.1 billion. Bayer intends to ext...

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