Bayer Snaps Up Chinese Over-The-Counter Drug Co.

Law360, New York (February 27, 2014, 2:23 PM EST) -- Bayer AG on Thursday said it has scooped up a Chinese over-the-counter and traditional herbal medicine manufacturer in an effort to expand both its nonprescription offerings and its presence in Asia.

Bayer did not disclose the financial details of the transaction but noted that the Kunming, China-based Dihon Pharmaceutical Group Co. Ltd., which has about 2,400 employees, generated sales of $168 million in fiscal year 2013. Bayer will purchase 100 percent of the shares of Dihon, which was previously privately held, and expects the deal to...
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