Bayer and Evogene to work together on GM wheat

German chemical group Bayer has said it will pay $20 million (£13 million) as part of a five-year deal with Israeli plant sciences company Evogene that will see the two develop new genetically modified wheat varieties. In a separate deal, Bayer will buy a $12 million stake in Evogene at a price of $7 per share. The aim of the project will be to improve key characteristics such as yield, drought tolerance and fertiliser utilisation. (more…)

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We’ve had a look at some of the financial results for the third quarter of 2010 already. Here’s the rest of the data. (All percentage changes are based on the same period last year.)

PHARMACEUTICAL

AstraZeneca made sales of $7.9 billion (£5 billion), a 4 per cent decrease. Operating income decreased 25 per cent to $2.4 billion.

Bayer made sales of €8.6 billion (£7.3 billion), a 16 per cent increase. Operating income decreased 14 per cent to €560 million. (more…)

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PHARMACEUTICAL

Sekisui buys Genzyme diagnostics

Japanese chemical group Sekisui has agreed to buy the diagnostic products business at Genzyme for $265 million (£168 million) in cash. Sekisui has agreed to offer employment to all 575 employees involved upon closing. In addition, it is planning to continue operations at all the current sites. In 2009, the Genzyme diagnostics business generated sales of $167 million. (more…)

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