LEO Pharma has entered into a definitive agreement to buy Bayer’s global prescription dermatology unit. The portfolio to be acquired includes branded topical prescription treatments for acne, fungal skin infections and rosacea, and a range of topical steroids with an annual turnover in 2017 of more than 280 million euros. It will enable LEO to expand significantly in key markets worldwide and broaden its therapeutic areas.
Bayer’s global medical dermatology portfolio will include prescription treatment solutions for acne (Skinoren®), fungal skin infections (Travogen® and Travocort®) and rosacea (Finacea®), and a range of topical steroids (Advantan®, Nerisona®, and Desonate®). The transaction does not include Bayer’s over-the-counter dermatology portfolio of brands such as Bepanthen® and Canesten® amongst others.
LEO Pharma will acquire the global product rights, except for Afghanistan and Pakistan, and take over the sales and marketing organisations in 14 countries, as well as a factory in Segrate, Italy. In total, around 450 people will join the company as part of this transaction. The combination of the local sales and marketing organisations will make LEO Pharma more efficient.