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news.Bayer HealthCare has announced that its consumer care division has achieved the necessary regulatory approvals to complete the acquisition of the western over-the-counter cough and cold portfolio of Topsun Science and Technology Qidong Gaitianli Pharmaceutical by Bayer Healthcare Company in China.
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Bayer will pay Topsun RMB1,072 million plus contingent payments of RMB192 million subject to fulfillment of certain performance criteria.
This acquisition is said to substantially increase Bayer Consumer Care’s presence in China, one of the fastest growing over-the-counter (OTC) markets in the world. The Cough & Cold portfolio of Topsun includes White and Black, a leading brand in an important consumer healthcare category, and will allow Bayer to compete more effectively in the OTC arena in China.
The personnel and assets related to the acquired business, including the Gaitianli manufacturing facility in Qidong City, JiangSu Province, and a national sales force and distribution network associated with the brands will transfer to Bayer Healthcare and operate within the consumer care division.
Arthur Higgins, chairman of Bayer HealthCare, said: “With this transaction Bayer HealthCare follows its global strategy to invest in and grow in emerging markets such as China, one of the most dynamic OTC markets in the world. It further underscores our commitment to maintain a diversified healthcare portfolio incorporating both the pharmaceutical and consumer healthcare sectors.”