Bayer Healthcare made a press release today, stating that its subsidiary, Bayer Healthcare Company Limited in China have obtained the required regulatory approvals for the acquisition of the Western over-the-counter (OTC) cough and cold portfolio of Topsun Science and Technology Qidong Gaitianli Pharmaceutical Co. Ltd. Bayer will pay a total of RMB 1,072 million (around US$ 156 million) with an additional of RMB 192 million (around US$ 28 million) subject to fulfillment of certain performance criteria. Topsun’s OTC cough and cold portfolio includes White and Black, a leading brand in an important consumer healthcare category.
Through this acquisition, Bayer will increase its presence in China, which has a rapidly growing OTC market. All personnel and assets related to the acquired business, including the Gaitianli manufacturing plant in Qidong City, Jiangsu Province as well as the national sales force and distribution network will be transferred to Bayer Healthcare, to operate within the Consumer Care Division.
Commenting on the acquisition, Arthur Higgins, Chairman of Bayer HealthCare said, “With this transaction Bayer HealthCare follows its global strategy to invest in and grow in emerging markets such as China, one of the most dynamic OTC markets in the world.”
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