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Bayer to acquire German pharmaceutical company

7:14 AM MDT | May 17, 2013 | Deepti Ramesh

Bayer says it has signed an agreement to acquire all of the shares of Steigerwald Arzneimittelwerk (Darmstadt, Germany), a privately held pharmaceutical company specializing in pharmacy-only herbal medicines. Financial details of the deal have not been disclosed. Steigerwald’s product portfolio includes Iberogast for the treatment of functional gastrointestinal disorders and Laif for the treatment of mild to moderate depression. The transaction is expected to close in July. Steigerwald generated sales of €61.3 million ($79 million) in 2012. The company...

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