Subject: Sandoz to Buy 40% Stake From Joint Venture Partner
Date: Published: 1/5/93 (28 lines)
Source: Wall Street Journal. Copyright Dow Jones & Co. Inc.

    Business Brief -- Repligen Corp.:
    Sandoz to Buy 40% Stake
    From Joint Venture Partner

    Repligen Corp. said Sandoz Ltd., of Basel, Switzerland, has paid
 an undisclosed amount to acquire Repligen's 40% interest in Repligen
 Sandoz Research Corp. 
    Since 1987, the two companies have been operating Repligen Sandoz
 Research, a joint venture in Lexington, Mass., that develops
 chemicals such as enzymes for paper production.  Under the agreement,
 Repligen will continue to receive royalties for certain products
 developed by the joint venture.  Sandoz, a maker of chemicals and
 pharmaceuticals, also purchased 320,000 shares of Repligen common
 stock at $12.50 per share for a total investment of $4 million.
 Repligen, of Cambridge, Mass., develops and manufactures
 biopharmaceuticals, primarily for treatment of cancer, AIDS and
 inflammation.
    Repligen Sandoz Research will now be known as Sandoz Chemicals
 Biotech Research Corp. 

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