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news.Bayer HealthCare has announced that its Consumer Care Division has successfully closed the acquisition of the over-the-counter brand portfolio and related assets of the US-based Sagmel.
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Beginning June 3,2008, the Sagmel over-the-counter (OTC) business will become part of Bayer HealthCare in Russia, the Ukraine, Kazakhstan, the Baltic’s and several Caucasian and central Asian countries.
The transaction, which was announced in March 2008, recently received the necessary regulatory approvals of the Russian and Ukrainian authorities and is expected to place Bayer among the top five OTC companies in the Commonwealth of Independent States (CIS).
The Sagmel portfolio includes Theraflex, a Glucosamine/Chondroitin supplement for the treatment of osteoarthritis and other joint/bone conditions, Nazol, a decongestant, the hemorrhoid treatment Relief, and nutritional brands Calcemin, Theravit and Jungle. This acquisition will now allow Bayer to play an even more active role in the OTC arena in the CIS.
Gary Balkema, president of Bayer HealthCare’s Consumer Care Division, said: “The combined portfolio of Sagmel and Bayer Consumer Care offers a very strong and attractive platform to further strengthen our business in one of the world’s fastest growing and most dynamic regions.”