Bayer Reportedly Explores Sale Of Dermatology Business

(RTTNews) - Bayer AG (BAYZF.PK, BAYRY.PK, BYR.L) is exploring the sale of its dermatology business, as the German drugmaker sells peripheral businesses and pursues the takeover of Monsanto Co. (MON), the Bloomberg reported citing people familiar with the matter.

According to the company, the German company is working with JPMorgan Chase & Co. on the sale, which could fetch more than 1 billion euros. The process is at an early stage and Bayer could decide against a disposal. Bayer's dermatology products include the eczema treatment Desonate and Finacea for rosacea.

The business could attract interest from existing makers of skincare products including Nestle SA's Galderma, Allergan Plc and Almirall SA of Spain, as well as private equity firms, two of the people said. Spokesmen for Bayer and JPMorgan declined to comment as did the representatives for the potential bidders.

On Monday, Bayer AG confirmed advanced negotiations with U.S. seed firm Monsanto Co. and sweetened its offer again to $127.50 per share. while the key terms and conditions were yet to be agreed upon, the German conglomerate said, the higher price depends on achieving a "negotiated transaction".