Bayer to acquire pharmaceutical company in Germany

Dr Marijn Dekkers, CEO, Bayer AG.

LEVERKUSEN, GERMANY: Bayer signed an agreement to acquire 100 per cent of the shares of Steigerwald Arzneimittelwerk GmbH, Darmstadt, Germany, a privately held pharmaceutical company specializing in pharmacy - only herbal medicines. Steigerwald’s product portfolio includes Iberogast for the treatment of functional gastrointestinal disorders and Laif for the treatment of mild to moderate depression. Financial details have not been disclosed. The transaction is subject to fulfillment of the usual conditions, including antitrust clearance, and is expected to close at the beginning of July 2013.

“This transaction is further evidence of our commitment to augment organic growth with strategic bolt-on acquisitions. It will allow us to provide consumers with an even broader range of self-care options. This acquisition broadens our product offering for the treatment of gastrointestinal disorders and gives us the opportunity to enhance our presence in Germany, the fast-growing regions of East-Central Europe, and the CIS countries,” said Dr Marijn Dekkers, CEO, Bayer AG.

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