Schering AG says it has sold its 25% stake in fellow German firm, Medac, to the latter’s shareholders for an unspecified “two-digit million euro figure”.

The company said that it had also bought the remaining 50% of the Medac Schering Onkologie joint venture, which it is planning to integrate into a new oncology unit at its Schering Deutschland subsidiary.

Medac Schering Onkologie was founded in 2000 as a joint venture between Schering and Medac and focuses on the marketing of products for the treatment of haematological malignancies in Germany. Last year, Schering initiated a restructuring plan, which included establishing a new business focusing on cancer [[15/06/04c]].