Bayer HealthCare buys Sagmel's OTC business
Bayer's US-based consumer care division is strengthening its foothold in one of the world's fastest growing over the counter (OTC) markets with the acquisition of Sagmel's OTC operations.
Bayer's US-based consumer care division is strengthening its foothold in one of the world's fastest growing over the counter (OTC) markets with the acquisition of Sagmel's OTC operations.
The purchase opens up the Bayer division to markets in Commonwealth of Independent States (CIS), including Russia, Belarus, Ukraine and Kazakhstan.
The transaction, which is expected to close later this year, is now subject to the necessary regulatory approvals. It will include the transfer of the assets related to the acquired brands, as well as the employees dedicated to the Sagmel 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.
"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,"
said Arthur Higgins, chairman of Bayer HealthCare. "With this acquisition, we continue to solidify our leading position in the global OTC market."
"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 regions," said Gary Balkema, president of Bayer HealthCare's consumer care division. "The addition of Sagmel's leading brands will complement our current portfolio in this dynamic
market. With the addition of the highly skilled employee group who will join our organisation, we expect to deliver outstanding performance."
Sagmel product portfolio includes Theraflex, a Glucosamine/Chondroitin supplement for the treatment of osteoarthritis and other joint/bone conditions.