Bayer1.jpg (Photo : Reuters)
German pharmaceutical company Bayer recently acquired China-based Dihon Pharmaceutical Co. Ltd. after buying 100 percent of the its shares.
Dihon Pharmaceutical, a private company in Kunming specializing in over-the-counter (OTC) dermatology and herbal traditional Chinese medicine (TCM) products for women's health, was bought by Bayer for 3.6 billion yuan (approximately 460 million euros).
Bayer AG CEO Dr. Marjin Dekkers said that the acquisition is a further evidence of the company's objective to strengthen its Life Sciences portfolio with strategic bolt-on acquisitions.
"This acquisition moves us into the leading position in the OTC industry in China," Dekkers said in a press release.
Meanwhile, Bayer HealthCare AG CEO Dr. Olivier Brandicourt said that Dihon's management team--shareholders and employees--have established strong and successful business ties in China.
Brandicourt added that Bayer is excited to include Dihon to their expanding OTC portfolio.
Bayer will now use Dihon knowledge and expertise "to further grow and develop these self-care solutions to the benefit of consumers across China and other parts of the world," said Brandicourt.
In 2013, Dihon generated 123 million euros in sales. It has over 2,000 employees in R&D, sales, marketing and manufacturing.
Aside from China, Dihon also has operations in Nigeria, Vietnam, Myanmar and Cambodia.
Bayer, on the other hand, is a global enterprise in the fields of healthcare, high-tech materials and agriculture. Its subgroup Bayer HealthCare earned an annual sale of 18.9 billion euros last year. The company is one of the leading innovative healthcare and medical products industries in the world.
