There were no divestitures in 2010. The effects of the previous year’s divestitures were as follows:
At the end of May 2009, we implemented the strategic alliance with Genzyme Corp., United States, announced on March 31, 2009. The products from our hematological oncology portfolio were transferred to Genzyme in accordance with the agreement. For Bayer this resulted in a net cash inflow of €93 million in 2010, comprising the balance of revenue-based payments received from Genzyme and taxes paid. After a write-down of €56 million, the receivable in the amount of the present value of the expected future revenue-based payments as of December 31, 2010, was €228 million.
In May 2009 Bayer sold its 51% share of Justesa Imagen, S.A., Spain, to Juste S.A. Química Farmacéutica for €16 million. A payment of €3 million was received in 2009 and a receivable for the remaining amount was therefore recognized in the statement of financial position. A further €8 million of this receivable was settled in 2010.
The impact of these divestitures in 2010 was as follows: