LEO Pharma and Bayer introduced at this time the achievement of the relevant closing circumstances to permit the transmission of Bayer’s global prescription dermatology business to LEO Pharma. The companies first released the proposed transaction on July 31, 2018, and accomplished the first step of the acquisition in the US on September 4, 2018. Today’s second and final closing covers all different countries.
Gitte Aabo, The CEO of LEO Pharma, stated: “This moment is significant for LEO Pharma. With the strong prescription dermatology brands and the brand new colleagues from Bayer, LEO Pharma advances considerably in the direction of our goal of serving to 125 million sufferers by 2025. We broaden our treatment range inside the areas of acne, fungal skin infections, and rosacea, in addition to our vary of topical steroids. By finishing the final a part of the acquisition, we considerably enhance our size in key markets like Brazil, Austria, and South Africa, underlining our ambition to turn into a world leader in medical dermatology.”
“We’re pleased to have discovered the best proprietor in LEO Pharma to take our Rx Dermatology business to the subsequent stage,” mentioned Heiko Schipper, member of Bayer’s Board of Manage-ment and President of Consumer Health. “With this divestiture, we additional our objective to give attention to our core OTC categories and develop our Consumer Health enterprise to its full potential.”
As introduced as a part of the settlement, LEO Pharma has now acquired the global product rights for Bayer’s global prescription dermatology enterprise excluding Afghanistan and Pakistan. This features a manufacturing facility in Segrate, Italy and a complete of 347 employees who will be a part of LEO Pharma along with the employees who joined from the USA last year.
Topic to applicable laws, LEO Pharma and Bayer, have worked intently collectively to assure an effective transition and an uninterrupted supply of prescription dermatology treatments.