Hengeler Mueller advises Bayer on sale of prescription dermatology unit
31. July 2018
Bayer and LEO Pharma have entered into an agreement to sell Bayer’s global prescription dermatology unit to LEO Pharma. The portfolio to be acquired includes branded topical prescription treatments for acne, fungal skin infections and rosacea, and a range of topical steroids with an annual turnover in 2017 of more than 280 million euros. LEO Pharma will acquire the global product rights, except for Afghanistan and Pakistan, and take over the sales and marketing organizations in 14 countries, as well as a factory in Segrate, Italy. In total, around 450 people will join LEO Pharma as part of the transaction. The acquisition is subject to the fulfillment of customary closing conditions, including approval by the competition authorities.
Hengeler Mueller is advising Bayer on the transaction. The Hengeler Mueller team is led by partners Christian Wentrup and Matthias Hentzen (M&A/Corporate) and includes partner Thorsten Mäger (Antitrust) (all Düsseldorf), counsel Gunther Wagner (Tax, Munich) as well as associates Gerrit Forst, Florian Hassner and Richard Suermann (all M&A/Corporate, Düsseldorf).