Bayer ponders $1.1 billion portfolio sale to fund Monsanto acquisition
In the latest development in the Bayer-Monsanto saga, the German drugmaker has enlisted the aid of global financial services firm JPMorgan Chase to assess possible options with its dermatology unit, the sale of which could reportedly generate over $1.1 billion for the company.
The firm’s dermatology portfolio includes its eczema therapy Desonate and its rosacea treatment Finacea, and it hopes the funds generated from their sale could help give the extra push needed to secure the acquisition of the agricultural giant.
According to Bloomberg sources, the portfolio could prove particularly attractive to a range of buyers including Nestle’s Galderma, Allergan or Spain’s Almirall, the latter of whom has made it no secret it is on the hunt for dermatology products, with CEO Eduardo Sanchiz having gone on record as eyeing certain Valeant offerings.
This development comes following Bayer’s latest effort last week to secure Monsanto as it raised its valuation of the firm to $56 billion.
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