Roche reduces price asked of DSM for its vitamins and fine chemicals division by EUR 200 M.

(From Chemical Business NewsBase - Chimie Hebdo)

According to DSM (which is to buy the business), Roche has lowered the price of its vitamins and fine chemicals division by EUR 200 M to EUR 1.75 bn (instead of the EUR 1.95 bn announced in Feb 2003). The reduction reflects Roche's poor 1H 2003 results and disappointing economic prospects in the short term. The European Commission approved the sale on condition that DSM sells the food enzymes sector (particularly phytases) to BASF. Roche has agreed to use DSM as a preferred supplier of pharmaceutical ingredients for certain operations. This agreement should boost DSM's pharmaceuticals division's sales by $100 M+ over 4 …