Chiron to Sell Betaseron Assets to Schering

March 2, 2006
Patricia Van Arnum

Patricia Van Arnum was executive editor of Pharmaceutical Technology.

ePT--the Electronic Newsletter of Pharmaceutical Technology

Chiron To Sell Betaseron Assets to Schering

Schering AG (Berlin, Germany, www.schering.de) has provided Chiron Corporation (Emeryville, CA, www.chiron.com) with formal notice of its intention to purchase or lease all assets used by Chiron in the manufacture for Schering of “Betaseron” interferon beta-1b products, including all contractual rights at their fair market or lease value.

Schering is exercising its option under a change-in-control clause in a collaboration agreement with Chiron. The collaboration agreement between Schering and Chiron is expected to expire in October 2008. The purchase–lease option is subject to the closing of the pending acquisition of Chiron by

Novartis International AG

(Basel, Switzerland, www.novartis.com).

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