Bayer to sell Nebido to Grünenthal for over Rs 4051 crore
Advertisement
Berlin: Bayer and Grünenthal have entered into a definitive agreement regarding the sale of Bayer's men's health product Nebido (testosterone undecanoate), for a purchase price totaling up to 500 million Euro.
Nebido for the treatment of male hypogonadism (testosterone deficiency) is available in over 80 countries since 2004. In 2021, the product contributed sales of 117 million Euro to Bayer's overall sales of more than 44 billion Euro.
"This divestment is part of the ongoing transformation of our pharmaceuticals business, which focuses on key areas of healthcare innovation," said Marianne De Backer, PhD, MBA, Member of the Executive Committee and EVP, Head Strategy and Business Development & Licensing and Open Innovation, Pharmaceuticals Division of Bayer AG. "Its proceeds will support investments in future innovation and bring forward transformative treatment options for patients."
Grünenthal will acquire the global product rights to Nebido for an upfront purchase price of up to 500 million Euro, subject to customary closing adjustments, including the contract business in the U.S, where Endo Pharmaceuticals has licensed the compound under the name Aveed from Bayer. The transaction is expected to close by the end of 2022, pending the satisfaction of customary closing conditions, including approval by the competition authorities.
UBS Investment Bank acted as financial advisor to Bayer, while Allen & Overy provided legal advice.
Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.