Dihon’s OTC product portfolio includes Kang Wang indicated to treat dandruff and other scalp disorders, and Pi Kang Wang, an antifungal cream, as well as TCM product Dan E Fu Kang for the treatment of various women’s health indications.
Bayer CEO Dr Marijn Dekkers said: "This acquisition is further evidence of our aim to strengthen our Life Sciences portfolio with strategic bolt-on acquisitions.
"In conjunction with the recently completed acquisition of Merck Consumer Care, this acquisition moves us into the leading position in the OTC industry in China," Dekkers said.
The acquisition also brings a portfolio of well-known consumer brands, which will allow the company to offer its consumers with an even broader range of self-care options.
Bayer HealthCare CEO Dr Olivier Brandicourt said: "Dihon’s management team, shareholders and employees have built a strong business in China with a track record of success.
"We are delighted to bring Dihon’s outstanding brands into our growing OTC portfolio and to leverage the knowledge and expertise of our new employee base to further grow and develop these self-care solutions to the benefit of consumers across China and other parts of the world," Brandicourt said.
In addition to acquiring several products, Bayer will also take control of 2,400 Dihon employees across R&D, manufacturing, sales and marketing, as well as several manufacturing sites in China.
Apart from operations in China, Dihon brands are sold in other countries such as Nigeria, Vietnam, Myanmar and Cambodia.
Image: Bayer HealthCare’s research site at Berlin, Germany. Photo: courtesy of Bayer AG.