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Biotech / Medical : Biotech Restructurings

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To: Icebrg who wrote (28)	10/30/2002 6:53:04 AM
From: Icebrg	Read Replies (1) of 270

Bayer Plans Cuts In Pharmaceutical Research -Report Wednesday October 30, 6:43 am ET FRANKFURT -(Dow Jones)- Bayer AG plans to make cuts in pharmaceutical research, resulting in hundreds of job losses and reduced development costs, German weekly WirtschaftsWoche reports in an advance copy, citing Bayer board member Wolfgang Plischke. This comes days after the head of Bayer's health care operations, Frank Morich, resigned. According to the report, Bayer plans to stop research in three out of 10 indication areas. It may also contract out these activities, the report says. Research and development into the central nervous system may also be contracted out. Bayer is in talks on that issue with Denmark's Novo Nordisk A/S the report says. Bayer officials weren't immediately available to comment.

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