Bayer to divest prescription dermatology business
Leverkusen/ Düsseldorf — Bayer has signed an agreement with LEO Pharma for the sale of Bayer’s global prescription dermatology business. The portfolio to be acquired includes branded prescription products for the topical treatment of acne, fungal skin infections and rosacea, as well as a range of topical steroids with annual sales of over EUR 280 million (2017).
LEO Pharma will acquire the worldwide product rights except for Afghanistan and Pakistan and will take over the sales and marketing organization in 14 countries as well as a production facility in Segrate, Italy. In total, around 450 employees will transfer to LEO Pharma as part of the transaction. The acquisition is subject to the fulfillment of customary closing conditions, including clearance by the competition authorities.
Advisors to Bayer: Hengeler Mueller advises Bayer on the transaction
The partners Dr. Christian Wentrup (photo ) and Dr. Matthias Hentzen (both lead, M&A/Corporate), Dr. Thorsten Mäger (Antitrust) (all Düsseldorf) as well as Counsel Dr. Gunther Wagner (Tax, Munich) and Associates PD Dr. Gerrit Forst, Dr. Florian Hassner and Richard Suermann (all M&A/Corporate, Düsseldorf) are active.