Bayer Agrees on $503 Million Sale of Testosterone-Deficiency Drug
14 Julio 2022 - 01:47AM
Noticias Dow Jones
By Joshua Kirby
Bayer AG said Thursday that it has reached an agreement to sell
a testosterone-deficiency treatment to pharmaceutical company
Gruenenthal for up to 500 million euros ($503 million).
The treatment, Nebido, is for male hypogonadism and is available
in over 80 countries, the German conglomerate said. Last year,
Nebido contributed sales of EUR117 million to group revenue, Bayer
said.
The transaction should be completed by the end of the year,
subject to approvals, the company said.
"This divestment is part of the ongoing transformation of our
pharmaceuticals business, which focuses on key areas of healthcare
innovation," Marianne De Backer, head of strategy and business
development at Bayer's pharmaceuticals division, said. "Its
proceeds will support investments in future innovation and bring
forward transformative treatment options for patients," she
said.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
July 14, 2022 02:32 ET (06:32 GMT)
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