German drugmaker, Schering AG, is mulling over strategic alternatives for its radiopharmaceutical business, CIS bio International. It says it is currently involved in talks with several firms interested in buying the unit, which has around 750 employees and pulled in sales of 120 million euros last year, although it would not disclose when it expects to close such a sale. If the move goes ahead it will have a negative one-time effect but will ultimately improve the profitability of the company, Schering said.
“We are in the process of re-aligning our strategy in the area of diagnostic imaging,” noted Dr Karin Dorrepaal, member of the executive board of Schering AG. “We intend to focus on innovative diagnostic fields of magnetic resonance imaging, computer tomography, optical and molecular imaging,” she added.
Shareholders on both sides of the Atlantic seemed relatively unmoved by the news, with stock trading on the Frankfurt Stock Exchange closing up just 0.13 euros and those changing hands in New York rising $0.48 on December 5.