Bayer sells testosterone treatment to German company for $500M
Bayer AG is all set to sell its testosterone deficiency treatment Nebido to Grünenthal, a German pain management company for about $500 million.
The deal is expected to close by end of 2022 and could add about $99 million to Grünenthal’s EBIDTA by 2023.
“This divestment is part of the ongoing transformation of our pharmaceuticals business, which focuses on key areas of healthcare innovation,” said Marianne De Backer, head of strategy and business development at Bayer, in a statement.
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