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Bayer to acquire Chinese pharmaceutical company

1:52 AM MST | February 27, 2014 | Deepti Ramesh

Bayer plans to acquire Dihon Pharmaceutical Group (Kunming, China), a privately held pharmaceutical company specializing primarily in over-the-counter (OTC) and herbal traditional Chinese medicine (TCM) products. Financial details of the acquisition have not been disclosed. Dihon generated sales of €123 million ($168 million) in 2013, and it employs about 2,400 people, Bayer says. Dihon has several manufacturing sites throughout China. The acquisition is expected to close in the second half of 2014, Bayer says. “We aim to strengthen our life sciences...

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