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Biotech / Medical : Monsanto Co. -- Ignore unavailable to you. Want to Upgrade?

To: Rob C. who wrote (1548)	3/10/1999 1:18:00 PM
From: Anthony Wong	Respond to of 2539

DuPont says acquisitions not preferred strategy Wednesday March 10, 12:38 pm Eastern Time WILMINGTON, Del, March 10 (Reuters) - DuPont Co. said on Wednesday that new acquisitions are not a ''preferred strategy'' in its latest initiative to bolster the life sciences segment of its operations. A week after the U.S. chemical company was reported to be in talks with Monsanto Co. (NYSE:MTC - news), Vice President John Himes told reporters in a conference call that DuPont had taken a general look at the merger and acquisition route and decided against that course of action for now. Himes was speaking after DuPont announced it was actively seeking alliances with partners in the pharmaceuticals industry and would create a new tracking stock to show off the hidden value of its life sciences businesses. ''The implication of seeking alliance partners indicates that acquisition is not our prime objective,'' the executive said. ''We have looked at acquisitions and at this point have not selected that as the preferred strategy.'' Himes also told reporters that prospective alliances would offer DuPont the chance to build up its presence in Europe and Asia. ''We also are very strong in certain therapeutic areas, cardiovasuclar -- particularly thrombosis -- virology and neurology,'' he added. ''So what we will try to do is to create a relationship where we are bringing together strengths that are additive and seeking critical mass and of course being able to execute our plans globally.'' biz.yahoo.com biz.yahoo.com