Bayer HealthCare completes acquisition of Western OTC cough and cold business

Published: 2-Jul-2008

BHC's Consumer Care Division has achieved the necessary regulatory approvals to complete the acquisition of the Western over-the-counter (OTC) cough and cold portfolio of Topsun Science and Technology Qidong Gaitianli Pharmaceutical Co Ltd by Bayer Healthcare Co Ltd in China.


BHC's Consumer Care Division has achieved the necessary regulatory approvals to complete the acquisition of the Western over-the-counter (OTC) cough and cold portfolio of Topsun Science and Technology Qidong Gaitianli Pharmaceutical Co Ltd by Bayer Healthcare Co Ltd in China.

Bayer will pay Topsun RMB 1,072m (Euro 100m) plus contingent payments of RMB 192m ( €8m) subject to fulfilment of certain performance criteria.

This acquisition substantially increases Bayer Consumer Care's presence in China, one of the fastest growing OTC markets in the world. 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 Co Ltd and operate within the Consumer Care Division. Completion of the transaction is scheduled for July 1, 2008.

Gary Balkema, president of Bayer HealthCare's Consumer Care Division, said, "The combined organisations, including our people, our brands and our manufacturing capabilities, create a bigger, stronger and more competitive entity better positioned to succeed. We are delighted to close this transaction and kick-off our integration efforts immediately."

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