Deals
Bayer Said to Explore Sale of $1.1 Billion Dermatology Business
- German drugmaker working with JPMorgan on potential disposal
- Bayer considering sale as it pursues Monsanto acquisition
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Bayer AG is exploring the sale of its dermatology business, according to people familiar with the matter, as the German drugmaker gets rid of peripheral enterprises and pursues the takeover of crop chemicals rival Monsanto Co.
The German company is working with JPMorgan Chase & Co. on the sale, which could fetch more than 1 billion euros ($1.1 billion), said the people, asking not to be identified because talks are private. The process is at an early stage and Bayer could decide against a disposal, they said. Bayer’s dermatology products include the eczema treatment Desonate and Finacea for rosacea.