Top

Bayer unloads diabetes-care business for $1.1 billion

June 11, 2015

Bayer Wednesday announced it is selling off its diabetes care business to Panasonic Healthcare Holdings Co., in a deal valued at just over $1.1 billion (1 billion euros).
The move is part of a larger effort by the German drug-maker to refocus on prescription and over-the-counter drugs, as well as its crop science business.

The transaction, which had been in the works since February, is expected to close in the first quarter of 2016, Bayer said. The diabetes unit manufactures devices for monitoring blood glucose levels.

Read More