Strategic move to strengthen Consumer Care business: Bayer to acquire
Steigerwald Arzneimittelwerk GmbH
Transaction includes Iberogast® and Laif® brands
LEVERKUSEN, Germany, May 16, 2013
LEVERKUSEN, Germany, May 16, 2013 /PRNewswire/ --Bayer signed an agreement
Thursday to acquire 100% of the shares of Steigerwald Arzneimittelwerk GmbH,
Darmstadt, Germany, a privately held pharmaceutical company specializing in
pharmacy-only herbal medicines. Steigerwald's product portfolio includes
Iberogast^® for the treatment of functional gastrointestinal disorders and
Laif^® for the treatment of mild to moderate depression. Financial details
have not been disclosed. The transaction is subject to fulfillment of the
usual conditions, including antitrust clearance, and is expected to close at
the beginning of July 2013.
"This transaction is further evidence of our commitment to augment organic
growth with strategic bolt-on acquisitions. It will allow us to provide
consumers with an even broader range of self-care options," said Dr.Marijn
Dekkers, CEO of Bayer AG. "This acquisition broadens our product offering for
the treatment of gastrointestinal disorders and gives us the opportunity to
enhance our presence in Germany, the fast-growing regions of East-Central
Europe, and the CIS countries."
Klaus Moller, one of Steigerwald's shareholders, added: "As a family-owned
business, we take great pride in what we have achieved in nurturing and
developing our brands. We believe that Bayer, with its extensive marketing,
sales, distribution and research expertise, is well positioned to take our
success to the next level."
Steigerwald generated sales of €61.3 million in 2012. The company employs
approximately 180 people and has its headquarters and manufacturing site in
Darmstadt. Bayer has committed to take over all of Steigerwald's employees.
The Darmstadt site and the sales organization are to retain their existing
Bayer: Science For A Better Life
Bayer is a global enterprise with core competencies in the fields of health
care, agriculture and high-tech materials. As an innovation company, it sets
trends in research-intensive areas. Bayer's products and services are designed
to benefit people and improve the quality of life. At the same time, the Group
aims to create value through innovation, growth and high earning power. Bayer
is committed to the principles of sustainable development and acts as a
socially and ethically responsible corporate citizen. In fiscal 2012, the
Group employed about 110,500 people and had sales of €39.8 billion. Capital
expenditures amounted to €2.0 billion, R&D expenses to €3.0 billion. For more
information, go to www.bayer.com.
About Steigerwald Arzneimittelwerk
Steigerwald Arzneimittelwerk GmbH, headquartered in Darmstadt, Germany,
researches, develops and manufactures high-quality herbal medicines using the
latest scientific knowledge and production technologies with the aim of
offering physicians, pharmacists and patients effective, well tolerated
treatments based on natural ingredients. The company continuously invests
large sums in clinical and pharmacological studies on the efficacy and
tolerance of its principal products. Another major focus is on explaining the
results of the extensive studies to physicians and pharmacists.
For more information, go to www.bayer.com or www.steigerwald.com.
This release may contain forward-looking statements based on current
assumptions and forecasts made by Bayer Group or subgroup management. Various
known and unknown risks, uncertainties and other factors could lead to
material differences between the actual future results, financial situation,
development or performance of the company and the estimates given here. These
factors include those discussed in Bayer's public reports which are available
on the Bayer website at www.bayer.com. The company assumes no liability
whatsoever to update these forward-looking statements or to conform them to
future events or developments.
SOURCE Bayer HealthCare
Contact: Bayer AG: Christian Hartel, +49 214 30 47686,
email@example.com; Bayer HealthCare: Patrick Kaiser, +41 58 272 76
16, firstname.lastname@example.org, Tricia McKernan, +1 (0) 973 254-4993,
email@example.com; Steigerwald Arzneimittelwerk: Gilbert Mertens,
+49 172 67 48 267, Gilbert.Mertens@gmail.com
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