Boehringer Ingelheim confirms BioWhittaker agreement:
This article was originally published in Clinica
Executive Summary
Boehringer Ingelheim has confirmed it will buy BioWhittaker's interest in the companies' joint venture for cell culture products in Verviers, Belgium (see Clinica No 653, p 13). Under the recently signed agreement, Boehringer Ingelheim says it intends to integrate the joint venture into its affiliated distributors in Spain, Austria and Germany. However, until the restructuring takes place, BioWhittaker will maintain its exclusive distribution arrangements in those countries. BioWhittaker has also agreed to sell to the joint venture its distribution subsidiary in France. Its UK subsidiary will continue to be the joint venture's exclusive distributor in the UK and Ireland. BioWhittaker has the option to repurchase its interest in the venture for an agreed price over a designated period.