Leo Pharma to acquire Bayer’s dermatology unit
Leo Pharma has entered into a definitive agreement to buy Bayer’s global prescription dermatology unit, which includes prescription treatment solutions for acne (Skinoren), fungal skin infections (Travogen and Travocort ) and rosacea (Finacea), and a range of topical steroids (Advantan, Nerisona, and Desonate). The agreement does not include Bayer’s over-the-counter dermatology portfolio of brands such as Bepanthen and Canesten.
“We are very excited about this agreement. With the strong prescription dermatology brands and the new colleagues from Bayer, Leo Pharma advances significantly towards our goal of helping 125 million patients by 2025. We will broaden our treatment range and considerably enhance our size in key markets around the world – underlining our ambition to be a preferred partner in medical dermatology,” said Leo Pharma president and CEO, Gitte Aabo, in a press release statement.
“We are very pleased to have found a good partner in Leo Pharma, who has a long history as a leader in scientific advancement and a culture that values discovery and innovation,“ said Heiko Schipper, a member of Bayer’s board of management and president of consumer health, in a press release statement. “With the dedicated support of many employees to whom we are grateful, our prescription dermatology business has grown well since becoming part of Bayer in 2006. Moving forward, we believe that Leo Pharma is the right owner to grow and further develop the prescription dermatology business while enabling us to focus on building our core over-the-counter brands."
Leo Pharma will acquire the global product rights, except for Afghanistan and Pakistan, and take over the sales and marketing organizations in 14 countries, as well as a factory in Segrate, Italy.
The acquisition is expected to close during 2018 for the United States, and during the second half of 2019 for all other markets.
“We are very excited about this agreement. With the strong prescription dermatology brands and the new colleagues from Bayer, Leo Pharma advances significantly towards our goal of helping 125 million patients by 2025. We will broaden our treatment range and considerably enhance our size in key markets around the world – underlining our ambition to be a preferred partner in medical dermatology,” said Leo Pharma president and CEO, Gitte Aabo, in a press release statement.
“We are very pleased to have found a good partner in Leo Pharma, who has a long history as a leader in scientific advancement and a culture that values discovery and innovation,“ said Heiko Schipper, a member of Bayer’s board of management and president of consumer health, in a press release statement. “With the dedicated support of many employees to whom we are grateful, our prescription dermatology business has grown well since becoming part of Bayer in 2006. Moving forward, we believe that Leo Pharma is the right owner to grow and further develop the prescription dermatology business while enabling us to focus on building our core over-the-counter brands."
Leo Pharma will acquire the global product rights, except for Afghanistan and Pakistan, and take over the sales and marketing organizations in 14 countries, as well as a factory in Segrate, Italy.
The acquisition is expected to close during 2018 for the United States, and during the second half of 2019 for all other markets.