Franco-German drugmaker Aventis and Germany's Bayer have agreed not to pursue their plans to create a joint venture in the field of biological products.
The two companies had intended to combine Aventis Behring, the therapeutic proteins business of Aventis, with the Biological products division of Bayer HealthCare. Both companies reviewed various possible forms of cooperation but a final agreement on the terms of the transaction could not be reached.
According to a statement this week Aventis is pro-actively exploring alternative options for the future of Aventis Behring.
In 2001, Aventis generated sales of € 17.7 billion and invested € 3 billion in research and development and employed.