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Schering sells Jenapharm's therapeutics business to Dermapharm AG

13 Aug 2004 - Schering AG, Germany (FSE: SCH, NYSE: SHR) announced today that its German subsidiary Jenapharm GmbH & Co. KG, Jena, has agreed the sale of its therapeutics business to mibe Vertriebsgesellschaft mbH (i.G.), Jena, a subsidiary of Dermapharm AG, Grünwald.
 
The sale of Jenapharm GmbH & Co. KG's largely generic therapeutics business is part of the Schering Group's strategic focus program. The transaction, whereby more than 80 Jenapharm employees will be taken on by mibe Vertriebsgesellschaft mbH (i.G.), Jena, should be completed by October 1, 2004. Jenapharm's therapeutics business generated net sales of EUR 38 million in 2003. Financial details of the transaction were not disclosed.
 
Jenapharm's therapeutics business includes systemic corticoids, inhalative anti-asthmathics and medicines for treating osteoporosis and further indications. Products included are, for example, Prednisolut®, Hydrocortison®, Calcilac®, Prednisolon® and Aescusan®. The complete product range comprises approximately 65 products.