Schering
Encyclopedia
Schering AG
was a research-centered German
pharmaceutical company
. It was founded in 1851 by Ernst Christian Friedrich Schering
(1824-1889) and merged with Bayer
's pharma sector in December 2006. The company's headquarters was in Berlin-Wedding, Germany. In North America, Schering operated mainly under the Berlex Laboratories
brand.
At the time of the merger, the company employed more than 26,000 people in 140 subsidiaries worldwide. Schering's annual gross revenue was nearly € 5 billion (2003).
Schering AG focused on the business areas of gynaecology
, andrology
, multiple sclerosis
, oncology
, and contrast agents
. Schering best-known products are probably its brands of combined oral contraceptive pills. Other key products included the interferon-beta
brand Betaferon (Betaseron in North America) and the paramagnetic contrast agent Magnevist.
The largest German manufacturing facility was located in Bergkamen
.
announced a €14.6 bn bid for Schering http://inter-x.info/en/web/index.html. Merck's takeover bid was surpassed by Bayer
's €16.5 bn white-knight
bid for Schering on March 23, 2006. In June 2006 Bayer finally bought the majority of shares, over 90%. A domination agreement using the code name "Step One" was used for the take-over. As a result of the take-over by Bayer, Schering AG merged with Bayer's pharmaceutical sector to form Bayer Schering Pharma AG in December 2006. On February 17, 2007 the company publicly announced that 1,000 jobs would be cut through voluntary redundancy
from the Berlin operations with effect until March 2008. In 2011 the name Bayer Schering Pharma was changed into Bayer Healthcare, thus removing the last traces of Schering from the company formed in the merger in 2006.
Aktiengesellschaft
Aktiengesellschaft is a German term that refers to a corporation that is limited by shares, i.e. owned by shareholders, and may be traded on a stock market. The term is used in Germany, Austria and Switzerland...
was a research-centered German
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
pharmaceutical company
Pharmaceutical company
The pharmaceutical industry develops, produces, and markets drugs licensed for use as medications. Pharmaceutical companies are allowed to deal in generic and/or brand medications and medical devices...
. It was founded in 1851 by Ernst Christian Friedrich Schering
Ernst Christian Friedrich Schering
Ernst Christian Friedrich Schering was a German apothecary and industrialist who created the Schering Corporation. The company split into Schering AG and Schering-Plough after US assets were seized during World War II....
(1824-1889) and merged with Bayer
Bayer
Bayer AG is a chemical and pharmaceutical company founded in Barmen , Germany in 1863. It is headquartered in Leverkusen, North Rhine-Westphalia, Germany and well known for its original brand of aspirin.-History:...
's pharma sector in December 2006. The company's headquarters was in Berlin-Wedding, Germany. In North America, Schering operated mainly under the Berlex Laboratories
Berlex Laboratories
- Introduction :Bayer HealthCare Pharmaceuticals is a research-based pharmaceutical company headquartered in Montville, New Jersey with operations in Wayne, New Jersey; Bothell, Washington; Seattle, Washington; and Richmond, California. It is a subsidiary of Bayer, headquartered in Leverkusen,...
brand.
At the time of the merger, the company employed more than 26,000 people in 140 subsidiaries worldwide. Schering's annual gross revenue was nearly € 5 billion (2003).
Schering AG focused on the business areas of gynaecology
Gynaecology
Gynaecology or gynecology is the medical practice dealing with the health of the female reproductive system . Literally, outside medicine, it means "the science of women"...
, andrology
Andrology
Andrology is the medical specialty that deals with male health, particularly relating to the problems of the male reproductive system and urological problems that are unique to men. It is the counterpart to gynaecology, which deals with medical issues which are specific to the female reproductive...
, multiple sclerosis
Multiple sclerosis
Multiple sclerosis is an inflammatory disease in which the fatty myelin sheaths around the axons of the brain and spinal cord are damaged, leading to demyelination and scarring as well as a broad spectrum of signs and symptoms...
, oncology
Oncology
Oncology is a branch of medicine that deals with cancer...
, and contrast agents
Contrast medium
A medical contrast medium is a substance used to enhance the contrast of structures or fluids within the body in medical imaging...
. Schering best-known products are probably its brands of combined oral contraceptive pills. Other key products included the interferon-beta
Interferon beta-1b
Interferon beta-1b is a drug in the interferon family used to treat the relapsing-remitting and secondary-progressive forms of multiple sclerosis . It is approved for use after the first MS event...
brand Betaferon (Betaseron in North America) and the paramagnetic contrast agent Magnevist.
The largest German manufacturing facility was located in Bergkamen
Bergkamen
Bergkamen is a town in the district of Unna, in North Rhine-Westphalia, Germany. It is situated near the river Lippe, approx. north-east of Dortmund and south-west of Hamm....
.
Bayer's Takeover Bid
On March 13, 2006, Merck KGaAMerck KGaA
Merck KGaA is a German chemical and pharmaceutical company. Merck, also known as “German Merck” and “Merck Darmstadt”, was founded in Darmstadt, Germany, in 1668, making it the world's oldest operating chemical and pharmaceutical company. The company was privately owned until going public in 1995...
announced a €14.6 bn bid for Schering http://inter-x.info/en/web/index.html. Merck's takeover bid was surpassed by Bayer
Bayer
Bayer AG is a chemical and pharmaceutical company founded in Barmen , Germany in 1863. It is headquartered in Leverkusen, North Rhine-Westphalia, Germany and well known for its original brand of aspirin.-History:...
's €16.5 bn white-knight
White knight (business)
In business, a white knight, or "friendly investor," may be a corporation or a person that intends to help another firm. There are many types of white knights...
bid for Schering on March 23, 2006. In June 2006 Bayer finally bought the majority of shares, over 90%. A domination agreement using the code name "Step One" was used for the take-over. As a result of the take-over by Bayer, Schering AG merged with Bayer's pharmaceutical sector to form Bayer Schering Pharma AG in December 2006. On February 17, 2007 the company publicly announced that 1,000 jobs would be cut through voluntary redundancy
Voluntary redundancy
Voluntary redundancy is a financial incentive offered by an organisation to its employees with the purpose of attracting volunteers to leave the organisation, due to downsizing or restructuring situations. The purpose is to circumvent union employee regulation laws.-Reasons:A Voluntary Redundancy...
from the Berlin operations with effect until March 2008. In 2011 the name Bayer Schering Pharma was changed into Bayer Healthcare, thus removing the last traces of Schering from the company formed in the merger in 2006.