(CercleFinance.com) – Bayer announces that it has reached a definitive agreement to sell its men’s health product, Nebido (testosterone undecanoate) to Grünenthal, for a purchase price of up to 500 million euros.
Nebido is for the treatment of male hypogonadism (testosterone deficiency) and available in over 80 countries since 2004. In 2021, the product contributed €117 million to Bayer’s global sales of over €44 billion euros.
“This disposal is part of the ongoing transformation of our pharmaceutical business, which focuses on key areas of innovation in the field of health,” said Marianne De Backer, member of the executive committee and vice -Executive President, responsible for strategy and business development, licensing and innovation within the pharmaceutical division of Bayer AG.
“The proceeds from this sale will support investments in future innovation and provide transformative treatment options for patients,” continues the manager.
The transaction is expected to close by the end of 2022, pending satisfaction of customary closing conditions, including antitrust approvals.
Copyright (c) 2022 CercleFinance.com. All rights reserved.