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BAX: Baxter Announces $40 Milion Stake in Peptide Therapeutics

Baxter Healthcare, a unit of Baxter International (BAX) - Get Report will pay $40 million to take an equity stake of about 20% in drug company Peptide Therapeutics.

The company said Baxter will make an initial investment to take a 10% stake in the company, with three further investments to be made by Baxter in 2001, 2002 and 2003.

Baxter shares were recently off 50 cents to $79.50.

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