Bayer to Establish New Research Unit in Berlin With Nuvisan
February 11 2020 - 04:37AM
Dow Jones News
By Giulia Petroni
Bayer AG said Tuesday that it has entered into a strategic
partnership with service-provider Nuvisan GmbH to create a new
research unit specialized in molecule research in Berlin.
The German pharmaceutical-and-chemical company said it would
transfer a large part of its Berlin-based molecule research unit to
Nuvisan and that the new research center will create around 400
jobs.
The financial terms of the deal weren't disclosed.
Bayer said the transaction is expected to close in mid 2020.
Berlin remains the headquarters of Bayer's pharmaceutical
division, the company said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
February 11, 2020 04:22 ET (09:22 GMT)
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