FRANKFURT, Germany (AP) — Bayer HealthCare, a unit of Bayer AG, said Tuesday that it will acquire the over-the-counter portfolio of U.S. drug maker Sagmel Inc.
Libertyville, Illinois-based Sagmel employs 1,000 people and its products include Theraflex, a painkiller used to treat osteoarthritis; Nazol, a decongestant; the haemorrhoid treatment Relief; and nutritional brands Calcemin, Theravit and Jungle.
The terms of the deal were not disclosed but the purchase will give Bayer access to Sagmel's OTC business in eastern Europe, particularly Russia, Belarus, Ukraine and Kazakhstan, and lift Bayer's own presence in that market.
''The combined portfolio of Sagmel, Inc. and Bayer Consumer Care offers a very strong and attractive platform to further strengthen our business in one of the world's fastest growing regions,'' said Gary Balkema, president of Bayer HealthCare's consumer care division.
Bayer's own brands include Aspirin, which it invented, Alka-Seltzer and Rennie.
Shares of Bayer fell more than half a percent to euro45.66 (US$70.04) in Frankfurt.