Bayer to sell men’s health product Nebido™ to Grünenthal
Berlin, July 14, 2022 – Bayer and Grünenthal believe entered into a definitive settlement concerning the sale of Bayer’s males’s neatly being product Nebido™ (testosterone undecanoate), for a regain characterize tag totaling up to 500 million Euro.
Nebido for the cure of male hypogonadism (testosterone deficiency) is on hand in over 80 worldwide locations since 2004. In 2021, the product contributed sales of 117 million Euro to Bayer’s total sales of more than 44 billion Euro.
“This divestment is section of the ongoing transformation of our prescribed pills enterprise, which specializes in key areas of healthcare innovation,” acknowledged Marianne De Backer, PhD, MBA, Member of the Govt Committee and EVP, Head Blueprint and Business Pattern & Licensing and Beginning Innovation, Prescribed pills Division of Bayer AG. “Its proceeds will give a enhance to investments in future innovation and lift forward transformative cure solutions for sufferers.”
Grünenthal will procure the global product rights to Nebido™ for an upfront regain tag of up to 500 million Euro, field to primitive closing changes, in conjunction with the contract enterprise in the U.S, the attach Endo Prescribed pills has licensed the compound under the name Aveed from Bayer. The transaction is anticipated to inner reach the tip of 2022, pending the pleasure of primitive closing cases, in conjunction with approval by the rivals authorities.
UBS Funding Bank acted as financial advisor to Bayer, whereas Allen & Overy offered precise type recommendation.
About Bayer
Bayer is a world project with core competencies in the lifestyles science fields of neatly being care and nutrition. Its merchandise and services are designed to aid of us and the planet thrive by supporting efforts to grasp the principle challenges presented by a rising and getting older global inhabitants. Bayer is dedicated to driving sustainable construction and producing a obvious impact with its firms. On the identical time, the Personnel targets to scheme bigger its earning energy and make charge thru innovation and enhance. The Bayer designate stands for believe, reliability and quality at some level of the sector. In fiscal 2021, the Personnel employed spherical 100,000 of us and had sales of 44.1 billion euros. R&D charges earlier than special objects amounted to 5.3 billion euros. For more recordsdata, stride to www.bayer.com.
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