OR WAIT null SECS
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).