Bayer said on the 27th that it expects the transaction to end in the second half of 20 14. The company did not disclose the financial details of the acquisition transaction.
"Dianhong's strong OTC brand and our product brand portfolio will greatly promote our business development in China and have far-reaching significance for our future growth." Dr Olivier Brandicourt, CEO of Bayer Healthcare, told the media after the signing of the agreement, "Chinese medicine is an important part of the OTC market in China. As an alternative therapy based on natural science, it is widely accepted by consumers and provides a solution for consumers to find reliable medical care. We believe that we can combine Dianhong's expertise in the field of traditional Chinese medicine with our recently acquired Steigerwald company to create higher value for two different fields with the same inheritance. "