09.03.18
DENMARK/GERMANY: Bayer is selling its global prescription dermatology unit to Leo Pharma. The portfolio to be acquired includes branded topical prescription treatments for acne, fungal skin infections and rosacea, and a range of topical steroids with an annual turnover in 2017 of more than €280 million (about $318 million at current exchange rates). The transaction does not include Bayer’s OTC dermatology portfolio of brands such as Bepanthen and Canesten among others.
Leo Pharma will acquire the global product rights, except for Afghanistan and Pakistan, and take over the sales and marketing organizations in 14 countries, as well as a factory in Segrate, Italy.
The acquisition is expected to close in two steps; during 2018 for the US, and during the second half of 2019 for all other markets, subject to the satisfaction of customary closing conditions, including approval by the competition authorities.
Financial details of the transaction were not disclosed.
Leo Pharma will acquire the global product rights, except for Afghanistan and Pakistan, and take over the sales and marketing organizations in 14 countries, as well as a factory in Segrate, Italy.
The acquisition is expected to close in two steps; during 2018 for the US, and during the second half of 2019 for all other markets, subject to the satisfaction of customary closing conditions, including approval by the competition authorities.
Financial details of the transaction were not disclosed.