EC approves 2.38 billion Euro sale

The European Commission has recently approved, subject to minor conditions, Bayer’s 2.38 billion Euro acquisition of the Consumer Health activities of Switzerland’s Roche group.

The European Commission has recently approved, subject to minor conditions, Bayer’s plans to acquire the Consumer Health activities of the Roche group, Switzerland.

Bayer plans to take over Roche’s global business in prescription-free medicines, with the exception of Japan, and to integrate it into the Consumer Care Division of its subgroup Bayer HealthCare.

The acquisition comprises Roche’s OTC (over the counter) business in consumer brands such as Rennie and Bepanthen, vitamins and nutritional supplements. The transaction, which expected to close between late 2004 and early 2005, is valued at 2.38 billion Euros.

As a condition of its approval, the European Commission requires Bayer to divest the regional rights to three Roche products, which represent sales of 2.25 million Euros annually, or 0.23 percent of the sales volume being transferred under the acquisition.

The products affected are the analgesics Aspro and Aspro C in Austria and the antifungals Desenex and Caldesene in Ireland.