LEO Pharma completes the acquisition of Bayer’s prescription dermatology business

BayerLEO Pharma and Bayer announced today the achievement of the relevant closing conditions to allow the transfer of Bayer’s global prescription dermatology business to LEO Pharma. The companies first announced the proposed transaction on July 31, 2018 and completed the first step of the acquisition with the closing in the United States on September 4, 2018. Today's second and final closing covers all other countries.

Gitte Aabo, President and CEO of LEO Pharma said: "Today is a historic day for LEO Pharma. 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 broaden our treatment range within the areas of acne, fungal skin infections and rosacea, as well as our range of topical steroids. By completing the final part of the acquisition, we considerably enhance our size in key markets like Brazil, Austria, and South Africa - underlining our ambition to become a world leader in medical dermatology."

"We're pleased to have found the right owner in LEO Pharma to take our Rx Dermatology business to the next level," said Heiko Schipper, member of Bayer's Board of Manage-ment and President of Consumer Health. "With this divestiture we further our goal to focus on our core OTC categories and develop our Consumer Health business to its full potential."

As announced as part of the agreement, LEO Pharma has now acquired the global product rights for Bayer’s global prescription dermatology business with the exception of Afghanistan and Pakistan. This includes a production facility in Segrate, Italy and a total of 347 employees who will join LEO Pharma in addition to the employees who joined from the United States last year.

Subject to applicable laws, LEO Pharma and Bayer have worked closely together to secure an effective transition and an uninterrupted supply of prescription dermatology treatments.

About LEO Pharma

LEO Pharma helps people achieve healthy skin. The company is a leader in medical dermatology with a robust R&D pipeline, a wide range of therapies and a pioneering spirit. Founded in 1908 and owned by the LEO Foundation, LEO Pharma has devoted decades of research and development to advance the science of dermatology, setting new standards of care for people with skin conditions. LEO Pharma is headquartered in Denmark with a global team of 5,500 people, serving 76 million patients in 130 countries. In 2018, the company generated net sales of DKK 10,410 million.

About Bayer

Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2018, the Group employed around 117,000 people and had sales of 39.6 billion euros. Capital expenditures amounted to 2.6 billion euros, R&D expenses to 5.2 billion euros.

Most Popular Now

ACE2 protein protects against severe COVID-19

Female COVID-19 patients face less severe disease complications and a lower risk of dying than male patients thanks to hormones and chromosomes that contribute to a stron...

Neutralizing antibodies protect against severe COV…

Understanding the body's immune response to SARS-CoV-2, the virus that causes COVID-19, is key to developing effective treatments and long-lasting vaccines. Of particular...

How SARS-CoV-2 interacts with cells

SARS-CoV-2 infections pose a global threat to human health and a formidable research challenge. One of the most urgent tasks is to gain a detailed understanding of the mo...

Valneva initiates Phase 1/2 clinical study of inac…

Valneva SE, a specialty vaccine company focused on prevention against diseases with major unmet needs, today announced the initiation of a Phase 1/2 clinical study for it...

Vir Biotechnology and GSK announce start of NIH-sp…

Vir Biotechnology, Inc. (Nasdaq: VIR) and GlaxoSmithKline plc (LSE/NYSE: GSK) today announced that the first patient has been dosed in a new sub-trial of the National Ins...

Sustained cellular immune dysregulation in individ…

COVID-19, which has killed 1.7 million people worldwide, does not follow a uniform path. Many infected patients remain asymptomatic or have mild symptoms. Others, espe...

Pfizer and BioNTech receive CHMP positive opinion …

Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) announced today that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EM...

Pfizer and BioNTech to supply the U.S. with 100 mi…

Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) today announced a second agreement with the U.S. government to supply an additional 100 million doses of the compan...

Pfizer and BioNTech receive authorization in the E…

Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) announced today that the European Commission (EC) has granted a conditional marketing authorization (CMA) to Pfizer...

New virtual screening strategy identifies existing…

A novel computational drug screening strategy combined with lab experiments suggest that pralatrexate, a chemotherapy medication originally developed to treat lymphoma, c...

Novavax announces initiation of PREVENT-19 pivotal…

Novavax, Inc. (Nasdaq: NVAX), a late-stage biotechnology company developing next-generation vaccines for serious infectious diseases, today announced initiation of PREVEN...

AstraZeneca's COVID-19 vaccine authorised for emer…

AstraZeneca's COVID-19 vaccine has been approved for emergency supply in the UK, with the first doses being released today so that vaccinations may begin early in the New...