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Germany: Bayer makes big pharma buyout

By  |  May 20, 2013

Pharmaceutical giant Bayer has announced plans to buy 100 percent of Germany-based private pharmaceutical conglomerate Steigerwalk Arzneimittelwerk. Financial details of the deal were not released in a press release; the parties expect to close the deal by July 2013, though it remains subject to approval by antitrust regulators. According to Bayer, the move is part of a larger agenda to promote “organic growth” and expand its product offering for consumers. According to a press release, the move will also expand business for Bayer throughout Germany and east-central Europe.

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