Word: ratiopharm
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...cost of the reprieve was high, however. Banks demanded that Merckle sell his stakes in HeidelbergCement, Ratiopharm and Phoenix Pharmahandel...
...began small, taking over a family company with just 80 employees in 1967. In the following years he transformed it into a vast corporate empire of 120 companies that generate revenue of some €30 billion, employ around 100,000 people and range in concerns from generic-drug maker Ratiopharm to Germany's biggest cement maker, HeidelbergCement. An unassuming lawyer, he was Germany's fifth richest individual and 94th on Forbes' list of the world's richest people, with a net worth estimated at nearly €7 billion ($9.2 billion...
...patent on another Bayer best seller, the antibiotic Cipro, the drug of choice during the panic over anthrax, which boosted sales to j1.9 billion. The company hopes a new once-a-day Cipro version will help maintain sales against generic competition from companies like Ratiopharm in Germany. Bayer had long insisted that it needed a drug unit to help offset market cycles in its chemical and pesticide units. When Werner Wenning took over as CEO last year, he suggested the company would be willing to merge its drug business as long as it maintained control of the new entity...
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