(Adds share price)
FRANKFURT, Sept 16 Bayer BAYG.DE has agreed to
acquire German drug developer Direvo Biotech AG for 210 million
euros ($294.3 million) to strengthen its research into
The deal is expected to close by the end of the month, Bayer
said in a statement on Tuesday.
Bayer, which transformed its healthcare arm by taking over
rival Schering for 16 billion euros in 2006, said recently it
planned to make smaller acquisitions this year to complement its
drugs business. Direvo develops proteins for drug use, such as
antibodies, using automated processes.
"We are committed to further strengthen our biologicals
portfolio, and Direvo's leadership in protein engineering
provides promising opportunities for further business growth,"
said Bayer HealthCare head Arthur Higgins.
Bayer also won approval in Canada for its experimental
blood-thinning pill Xarelto for the prevention of blood clots
after knee- or hip-replacement surgery, it said in a separate
statement on Tuesday.
The regulatory clearance, Xarelto's first, allows Bayer to
bring the pill to the Canadian market immediately, the company
Bayer also said it expects Xarelto to secure European Union
approval for surgery-related blood clot prevention "very soon".
Shares of Bayer were 1.79 percent higher at 56.94 euros by
1027 GMT, while the German benchmark DAX index .GDAXI was down
The drugmaker announced on July 25 that Xarelto was
recommended by the European Medicines Agency, whose assessments
guide the European Commission's approval decisions.
Bayer, which is developing Xarelto jointly with U.S. partner
Johnson & Johnson (JNJ.N), expects to generate up to 2 billion
euros per year from the pill, making it its most promising drug
alongside cancer treatment Nexavar.
(Reporting by Ludwig Burger; Editing by Quentin Bryar and David