Sector News

Bayer completes EUR 1 Bln sale of diabetes care business

January 5, 2016
Life sciences

(RTTNews) – German conglomerate Bayer AG Tuesday said it closed on its previously announced agreement to sell its Diabetes Care business to Panasonic Healthcare Holdings Co., Ltd. The total consideration for the transaction was around 1 billion euros or 132 billion Japanese yen.

The sale includes Contour portfolio of blood glucose monitoring meters and strips, as well as other products such as Breeze2, Elite and Microlet lancing devices.

Panasonic Healthcare is backed by funds sponsored by investment firm KKR (KKR) and Japanese consumer electronics giant Panasonic Corp. (PCRFF, PCRFY). The new stand-alone Diabetes Care business is named Ascensia Diabetes Care Holdings and is headquartered in Basel, Switzerland.

Bayer Diabetes Care or BDC, is a provider of blood glucose monitoring systems to people with diabetes and healthcare professionals around the world. Bayer’s Diabetes Care business accounted for 909 million euros in sales in 2014.

It was in June last year that Panasonic Healthcare agreed to acquire the diabetes devices business from Bayer for 1.02 billion euros or $1.16 billion to create a truly global diabetes care solutions business.

comments closed

Related News

January 29, 2023

Colorcon, Inc. signs Put agreement with intent to acquire controlled atmosphere packaging specialist Airnov Healthcare Packaging

Life sciences

Airnov provides critical healthcare industries with high-quality, controlled atmosphere packaging, to protect their products from moisture and oxygen. The business has manufacturing facilities in the USA, France, China and India and employs around 700 people.

January 29, 2023

Takeda pledges up to $1.13B for rights to Hutchmed’s cancer drug fruquintinib outside of China

Life sciences

Takeda of Japan has partnered with Hong Kong-based Hutchmed, gaining the commercial rights to colorectal cancer drug fruquintinib outside of China for $400 million up front, plus $730 million in potential milestone payments. Takeda also will help develop fruquintinib, which can be applied to subtypes of refractory metastatic colorectal cancer, regardless of biomarker status, the companies said.

January 29, 2023

Vir taps Bayer dealmaker Marianne De Backer as its next CEO

Life sciences

On April 3, Scangos, who’s been chief executive officer at Vir since the start of 2017, will hand over the reins to Marianne De Backer, Ph.D. De Backer comes over from Bayer, where she currently heads up pharmaceutical strategy, business development and licensing. Alongside her CEO appointment, De Backer is set to join Vir’s board of directors, the company said Wednesday.

How can we help you?

We're easy to reach