Merck sells bioscience company

January 12, 2011

Merck KGaA has announced that it will sell its Crop BioScience business to Danish company Novozymes A/S for $275 million.

Merck KGaA has announced that it will sell its Crop BioScience business to Danish company Novozymes A/S for $275 million.

Merck’s divested Crop BioScience business researches, develops and commercializes technologies used to improve plant health and crop yields. These activities are carried out in North and South America through EMD Crop BioScience, Milwaukee, USA; EMD Crop BioScience Canada; and Merck Crop BioScience Argentina.

“With the acquisition of Millipore the strategic focus of Merck’s chemicals business significantly changed towards the life science industries. The Crop BioScience business is focused on a specific segment within the agricultural industry and has very limited overlap with other parts of Merck’s business,” said Bernd Reckmann, member of the executive board of Merck in a statement.

“The acquisition of Crop BioScience strengthens our global position in the growing industry for agricultural biologicals providing products that enhance the natural growth and yield of crops,” said Steen Riisgaard, CEO of Novozymes. “We have found in Crop BioScience a company that has a strong strategic fit with our existing BioAg business.”

For more information visit www.novozymes.com and www.merck.de