Schering to sell 50% interest in ALK-Scherax

By Jennifer Chiou

New York, Dec. 13 - Schering AG announced it will divest its 50% interest in ALK-Scherax Arzneimittel GmbH at the start of 2006 to ALK-Abello A/S, according to a company news release.

ALK-Abello, which already owns a 50% interest in German distributor ALK-Scherax, is a Danish pharmaceutical company.

ALK-Abello and Schering formed ALK-Scherax in 1997 to distribute and market ALK-Abello's products for allergic diseases in Germany. Under the agreement, Schering's interest would be transferred to ALK-Abello by Dec. 31, 2010.

Schering has agreed to the transaction since the activities of ALK-Scherax are not part of its core business, the company said in the release.

The acquisition is subject to merger clearance.

Schering AG is a research-based pharmaceutical company with headquarters in Berlin.

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