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.

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

November 27, 2020

AbbVie lifts insider Jeffrey Stewart to commercial chief as company veteran Carlos Alban retires

Life sciences

AbbVie will soon have a new chief commercial officer, who’ll assume the heavy responsibility of navigating the Illinois pharma’s marketing transition from megablockbuster Humira.

November 27, 2020

Belgium biotech argenx nabs Bayer speedy review voucher for a cool $98M

Life sciences

The biotech, which has a series of deals across Big Pharma, will use the voucher, which can speed up the regulatory process for a new drug, for its late-stage drug efgartigimod—but not in the indication you might think.

November 27, 2020

Galapagos sells off Fidelta as CRO activities ‘no longer fit with its strategy’

Life sciences

Galapagos is selling off its contract research organization Fidelta for $37 million to Polish life science company Selvita. Fidelta focuses on inflammation, fibrosis and anti-infectives, with 181 employees at the helm.

Send this to a friend