LEO Pharma has completed the acquisition of Bayer’s prescription dermatology business.
The companies announced the proposal in July 2018, and completed the first step of the acquisition with the closing in the United States on September 4, 2018. Today’s second and final closing covers all other countries.
Under the terms of the agreement, LEO Pharma has now acquired the global product rights for Bayer’s global prescription dermatology business with the exception of Afghanistan and Pakistan. This includes a production facility in Segrate, Italy and a total of 347 employees who will join LEO Pharma in addition to the employees who joined from the United States last year.
Gitte Aabo, president and CEO of LEO Pharma said: “Today is a historic day for LEO Pharma. With the strong prescription dermatology brands and the new colleagues from Bayer, LEO Pharma advances significantly towards our goal of helping 125 million patients by 2025.
“We broaden our treatment range within the areas of acne, fungal skin infections and rosacea, as well as our range of topical steroids. By completing the final part of the acquisition, we considerably enhance our size in key markets like Brazil, Austria, and South Africa – underlining our ambition to become a world leader in medical dermatology.”
The deal includes Finacea (azelaic acid) foam for the topical treatment of mild to moderate rosacea, a range of topical steroids and other products for the treatment of acne and fungal skin infections.