DuPont R&D Deal With Aventis Begins Strategy Of Merger Remnant Buying
Executive Summary
DuPont plans to participate in the current wave of pharmaceutical industry mergers by acquiring pieces of merging companies that have been made redundant rather than by a direct acquisition of its own.
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Aventis/DuPont
Talks discontinued regarding sale of Aventis' Romainville, France R&D facility to DuPont. The negotiation, which was initiated in March, would have included the sale of eight Aventis products and the transfer of a 300-person sales force to DuPont. Former DuPont Pharmaceuticals CEO Kurt Landgraf touted the agreement as a means for DuPont to benefit from consolidation without pursuing a merger of its own (1"The Pink Sheet" March 13, p. 19). Landgraf was replaced by Nicholas Teti in May. Aventis said it will seek a new buyer for the plant
Aventis/DuPont
Talks discontinued regarding sale of Aventis' Romainville, France R&D facility to DuPont. The negotiation, which was initiated in March, would have included the sale of eight Aventis products and the transfer of a 300-person sales force to DuPont. Former DuPont Pharmaceuticals CEO Kurt Landgraf touted the agreement as a means for DuPont to benefit from consolidation without pursuing a merger of its own (1"The Pink Sheet" March 13, p. 19). Landgraf was replaced by Nicholas Teti in May. Aventis said it will seek a new buyer for the plant
DuPont Pharmaceuticals' Teti Adds CEO To Title With Landgraf Resignation
DuPont President-Pharmaceuticals Nicholas Teti will add Chief Executive Officer to his title with the resignation of Kurt Landgraf, effective May 15.