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news.Bayer HealthCare has announced that the company's Consumer Care Division has signed an agreement with US-based Sagmel to acquire their over-the-counter brand portfolio and related assets. The transaction is expected to close during 2008.
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The transaction, which is now subject to the necessary regulatory approvals, will include the transfer of the assets related to the acquired brands, as well as the employees dedicated to the Sagmel over-the-counter (OTC) business including the sales force and distribution networks, marketing, regulatory affairs and supply chain personnel. The transferred employees and assets will become part of the Consumer Care Division of Bayer HealthCare.
Following the establishment of a Bayer Consumer Care organization in the Commonwealth of Independent States (CIS) through the integration of the marketing and distribution network of its former partner in January 2007, this acquisition will substantially increase Bayer Consumer Care’s presence in the CIS, including Russia, Belarus, Ukraine and Kazakhstan and other countries.
Arthur Higgins, chairman of Bayer HealthCare, said: “Our consumer health business is a key component of Bayer HealthCare and we will continue to invest in this area in order to ensure further growth. With this acquisition we continue to solidify our leading position in the global OTC market.”