Bayer HealthCare purchases OTC cold business

The consumer care division of Bayer HealthCare has received the required regulatory approvals to complete its acquisition of the western over-the-counter (OTC) cough and cold portfolio of Topsun Science and Technology Qidong Gaitianli Pharmaceutical.

It subsidiary in China will pay Topsun 1,072 million Chinese yuan (78.9 million pounds) in addition to contingency payments of 192 million Chinese yuan on the fulfilment of specified performance criteria.

The transaction was completed at the start of the month, with the national sales force, distribution network and Gaitianli manufacturing facility in Qidon City in the Jiangsu Province transferring to Bayer HealthCare.

Included in the cough and cold product portfolio of Topsun is White and Black, which Bayer hopes will help it compete with greater efficacy in the OTC segment in China and have a complementary effect on its existing OTC portfolio.

Arthur Higgins, chairman of Bayer HealthCare said: “With this transaction, Bayer HealthCare follows its global strategy to invest in and grow in emerging markets such as China, one of the most dynamic OTC markets in the world.”

He added the agreement underlines its dedication to maintain a diverse healthcare portfolio covering both consumer healthcare and pharmaceuticals.

Earlier this month, Bayer HealthCare announced the acquisition of haemophilia programme assets from Maxygen.