Bayer HealthCare successfully completes acquisition of Sagmel, Inc.’s OTC Business
Bayer Consumer Care’s Presence in Eastern Europe Significantly Strengthened
Leverkusen. – Bayer HealthCare (BHC) announced today that its Consumer Care Division has successfully closed the acquisition of the over-the-counter (OTC) brand portfolio and related assets of the US-based Sagmel, Inc. Beginning June 3rd, the Sagmel OTC business will become part of Bayer HealthCare in Russia, the Ukraine, Kazakhstan, the Baltic’s and several Caucasian and central Asian countries.
The transaction, which was announced in March 2008, recently received the necessary regulatory approvals of the Russian and Ukrainian authorities and will place Bayer among the top 5 OTC companies in the Commonwealth of Independent States (CIS).
“The combined portfolio of Sagmel, Inc. and Bayer Consumer Care offers a very strong and attractive platform to further strengthen our business in one of the world’s fastest growing and most dynamic regions,” said Gary Balkema, President of Bayer HealthCare’s Consumer Care Division. “We are extremely pleased that we have been able to close this transaction so quickly and believe strongly in the opportunities and advantages the combined organizations present.”
The Sagmel portfolio, which delivered net sales of approximately EUR 80 million in 2007, includes Theraflex, a Glucosamine/Chondroitin supplement for the treatment of osteoarthritis and other joint/bone conditions, Nazol, a decongestant, the hemorrhoid treatment Relief, and nutritional brands Calcemin, Theravit and Jungle. This acquisition will now allow Bayer to play an even more active role in the OTC arena in the CIS. Increased marketing and selling investments will not only strengthen the acquired brands, but will also have a positive impact on Bayer’s existing OTC portfolio, which includes well-known brands such as Aspirin and Alka-Seltzer, the antacid brand Rennie and the Nutritionals brands Supradyn, Biovital and Elevit.
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