Sale of BASF's pharmaceutical business to Abbott completed

05-Mar-2001

BASF, Ludwigshafen, Germany, today, March 2, 2001, completed the sale of its pharmaceutical business for $6.9 billion to Abbott Laboratories, Abbott Park, Illinois following full regulatory approval. The sale will enable BASF to concentrate better on the strengths in its portfolio and achieve further profitable growth.

Eggert Voscherau, a member of BASF's Board of Executive Directors, said: "The timing of the transaction has been ideal for all parties. The excellent cooperation with Abbott is a sign off how well BASF Pharma fits into its new business setting."

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