FOR IMMEDIATE RELEASE
Media Contact: Investor Contact:
Lowell Weiner Thomas Cavanagh
American Home Products American Home Products
(973) 660-5013 (973) 660-5706
AMERICAN HOME PRODUCTS CORPORATION ANNOUNCES THE COMPLETION OF
THE SALE OF ITS CYANAMID AGRICULTURAL PRODUCTS BUSINESS TO BASF
Madison, N.J., June 30, 2000 -- American Home Products Corporation (NYSE:
AHP) announced today that it has completed the previously announced sale of its
Cyanamid Agricultural Products business to BASF Aktiengesellschaft except in
certain countries where regulatory clearances are pending. Under the agreement,
AHP received $3.8 billion in cash from BASF and certain debt was also assumed by
BASF. Morgan Stanley Dean Witter acted as AHP's financial advisor.
American Home Products Corporation is one of the world's largest
research-based pharmaceutical and health care products companies. It is a leader
in the discovery, development,
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manufacturing and marketing of prescription drugs and over-the-counter
medications. It is also a global leader in vaccines, biotechnology and animal
health care.
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