Bayer Doesn’t Intend to Sell its Diabetes Unit, Reinhardt Says

Bayer AG (BAYN) no longer plans to sell its diabetes unit, Joerg Reinhardt, chief executive officer of Bayer Healthcare, said in an interview in San Francisco.

“We are keeping it,” Reinhardt said. “We evaluated different options and we came to the conclusion that we continue to be the best owner.”

Financial Times Deutschland reported in July that Panasonic Corp. and French drugmaker Sanofi were among parties interested in the unit. Bayer will this year focus on “bolt-on acquisitions of mid-sized numbers” to grow in areas such as consumer health care and emerging markets, Reinhardt said earlier in the day, during a question-and-answer session at the J.P. Morgan 31st annual healthcare conference.

“There are many areas we would like to grow into” in pharmaceuticals, Reinhardt added.

To contact the editor responsible for this story: Albertina Torsoli at atorsoli@bloomberg.net

To contact the editor responsible for this story: Angela Zimm azimm@bloomberg.net

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