Sector News

Mylan, Lupin, others now in the mix for $1.1B Bayer derm buy

September 27, 2016
Life sciences

The list of drugmakers reportedly eying Bayer’s up-for-sale dermatology unit is growing even longer.

Mylan, New Jersey’s Leo Pharma and India’s Lupin, Cadila Healthcare and Torrent Pharmaceuticals are all weighing offers for the unit, which could bring in more than $1.1 billion for the German drugmaker as it looks to fund the $66 billion Monsanto acquisition it recently agreed to, Bloomberg reports.

Previous reports listed Nestle’s Galderma, Spain’s Almirall, India’s Sun Pharma, Teva, Allergan and Perrigo as potential suitors on the pharma side, while private equity firms such as KKR and Bain Capital have featured in the rumors, too.

The companies may not have much more time to decide whether to officially jump into the fray, though. Bids may be due as soon as this week, sources told the news service.

Both Mylan and Leo have made recent deals in the dermatology space. Bayer’s portolio–which includes eczema therapy Desonate and rosacea treatment Finacea–could bolster the €675 million worth of skincare assets Leo Pharma agreed last year to to buy from Japan’s Astellas, or those Mylan in May announced it would be buying with a $1 billion deal for Renaissance Acquisition Holdings.

Meanwhile, dermatology may not be the only divestment Bayer’s looking into. It’s also considering a potential divestment of its radiology business, which could fetch more than $3 billion, Bloomberg’s sources say.

Earlier this year, Sanford Bernstein analyst Jeremy Redenius suggested that a long-buzzed-about animal health sale could help Bayer drum up funds for the Monsanto buy, too.

By Carly Helfand

Source: Fierce Pharma

comments closed

Related News

February 4, 2023

MedTrace receives U.S. patent for diagnosing the human heart

Life sciences

The U.S. Patent and Trademark Office issued a patent to MedTrace for their method of diagnosing the human heart via 15O-water PET. The patented method is the foundation of the company’s software aQuant, currently under development. Hendrik “Hans” Harms, PhD and Senior Scientist at MedTrace, and Jens Soerensen, Professor and Clinical Advisor to MedTrace, are the originators of the method.

February 4, 2023

Roche taps insider Teresa Graham for top pharma job as setbacks prompt M&A questions

Life sciences

Teresa Graham, currently head of global product strategy for Roche pharma, will become the division’s new CEO next month, Roche said Thursday. Simultaneously, Roche is elevating Levi Garraway, chief medical officer, to the executive committee.

February 4, 2023

J&J’s pharma group quietly works through global overhaul, with layoffs expected to reach multiple countries

Life sciences

Fierce Pharma has obtained internal documents and video of a town hall meeting conducted this week describing what J&J called a “comprehensive review” of its portfolio. Moving forward, J&J plans to operate its vaccines and infectious diseases outfits as one group, the executives explained.

How can we help you?

We're easy to reach