Updated on 5 November 2014
Dihon has a wide range of OTC dermatology products and herbal traditional Chinese medicine for women's health indications
Singapore: Bayer has completed the acquisition of Dihon Pharmaceutical Group Co Ltd., Kunming, Yunnan, China.
This is Bayer's second major expansion , ahead of purchasing Merck & Co's division for $14.2bn in May, 2014.
The deal is considered to provide Bayer a strong foothold in emerging Asian markets. Mr Marijn Dekkers, Bayer CEO, said, "In conjunction with the recently completed acquisition of Merck consumer care, this acquisition moves us into the leading position in the over-the-counter (OTC) industry in China."
Mr Dekkers said that the acquisition will help in providing customers with a vast range of well-known consumer brands. Dihon has a wide range of OTC dermatology products and herbal traditional Chinese medicine for women's health indications.
The company's major revenue share came from china, while the company also had leveraged some emerging markets in Asia and Africa to market its products. The deal will empower Bayer with 2400 employees of Dihon across R&D, manufacturing, sales and marketing, as well as several manufacturing sites in China.