Bayer to Acquire China's Dihon Pharmaceutical Group

By Pharma News - DCAT Publisher

February 27, 2014

Bayer plans to acquire 100% of the shares of Dihon Pharmaceutical Group Co., Ltd., Kunming Yunnan, China, a privately held pharmaceutical company specializing primarily in over-the-counter (OTC) and herbal traditional Chinese medicine (TCM) products. Dihon is a player in China's OTC industry with products such as Kang Wang® for the treatment of dandruff and other scalp disorders and Pi Kang Wang®, an antifungal cream, as well as TCM product Dan E Fu Kang® for the treatment of various women's health indications. Financial details have not been disclosed. The transaction is subject to fulfillment of certain conditions, including merger control clearance, and is expected to close in the second half of 2014.

"We aim to strengthen our Life Sciences portfolio with strategic bolt-on acquisitions globally. We are very pleased to have identified a consumer health care company in China with such a strong track record of success built by its dedicated employee base," said Dr. Marijn Dekkers, CEO of Bayer AG, in a press statement. "This acquisition moves us into a leading position amongst multinationals in the OTC industry in China. It also brings a portfolio of well-known consumer brands, which will allow us to provide consumers with an even broader range of self-care options."

Dihon generated sales of EUR 123 million in 2013. The company employs approximately 2400 people in R&D, manufacturing, sales and marketing. In addition to operations in China, Dihon brands are sold in other countries such as Nigeria, Vietnam, Myanmar and Cambodia. Dihon's headquarters is in Kunming, China. The company also has several manufacturing sites throughout China.

Source: Bayer

 

 

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