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Bayer to acquire Direvo Biotech for $300 million

9/17/2008

NEW YORK Bayer has announced that it will buy a German biotech company for almost $300 million.

Bayer said in a statement that the deal to buy Direvo Biotech would likely be done at the end of the month.

The acquisition will help Bayer’s efforts to develop biologic drugs, including antibodies.

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