Bayer to acquire Steigerwald Arzneimittelwerk

Bayer has signed an agreement to acquire all of Steigerwald Arzneimittelwerk’s shares.  

The pharmaceutical company specialises in pharmacy-only herbal medicines, and has a product portfolio including Iberogast for the treatment of functional gastrointestinal disorders, while it also boasts Laif to treat mild to moderate depression.

The transaction is still subject to several conditions, but it is expected to be finalised by the start of July 2013.

Steigerwald achieved sales of €61.3 million (£40.39 million) in 2012 and employs around 180 people, while its headquarters and manufacturing site is situated in Darmstadt.

As part of the deal, Bayer will take over all of the company’s workers, but the Darmastadt site and the sales organisation will retain their current structures.

Dr Marijn Dekkers, chief executive of Bayer AG, said: “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.

“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 Möller, one of Steigerwald’s shareholders, also commented on the move, noting that the business takes “great pride in what it has achieved.

“We believe that Bayer, with its extensive marketing, sales, distribution and research expertise, is well positioned to take our success to the next level.”

Bayer specialises in the core competencies of health care, agriculture and high-tech materials, setting trends in a number of research-intensive areas.

The company’s products and services are designed to benefit people and improve their quality of life, while also helping to create value through innovation, growth and high earning power.

During fiscal 2012, the business employed 110,500 people and generated sales of €39.8 billion, while capital expenditures rose to €2 billion and research and development expenses stood at €3 billion.