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Skin-focused company LEO Pharma acquired Bayer’s prescription treatment portfolio.
On Sept. 4, 2018, Bayer and LEO Pharma, a Ballerup, Denmark-headquartered pharmaceutical company specializing in dermatology, announced the completion of the previously announced acquisition of Bayer’s prescription dermatology unit in the United States by LEO Pharma.
LEO Pharma and Bayer entered into an agreement for the acquisition of Bayer’s global portfolio of prescription dermatology products in July 2018. Bayer’s global medical dermatology portfolio, which includes Skinoren (azelaic acid) for acne; Travogen (isoconazole nitrate) and Travocort (diflucortolone valerate and isoconazole nitrate) for fungal skin infections; Finacea (azelaic acid) for rosacea; and a range of topical steroids, such as Advantan (methylprednisolone aceponate), Nerisona (diflucortolone valerate), and Desonate (desonide), will add complementary treatment areas and strengthen the existing business of Leo Pharma, according to Bayer. The transaction does not include Bayer’s over-the-counter dermatology portfolio of brands.
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. Assuming the successful close, around 450 people will join LEO Pharma as part of this transaction. Closing in all other countries outside the US is expected during the second half of 2019, subject to the fulfillment of customary closing conditions.
Subject to applicable laws, LEO Pharma and Bayer will continue to work closely together with the aim of securing an effective transition of the business in the rest of the world and an uninterrupted supply of prescription dermatology treatments that patients have come to rely on and trust.
“Our Rx Dermatology colleagues have worked diligently to develop this business over many years,” said Patrick Lockwood-Taylor, president of Bayer’s Consumer Health business in North America, in a company press release. “With the closing of the transaction in the US, the business is now in the best hands for future growth and allows Bayer to focus on our core OTC business.”