Bayer said it would buy privately held Dihon Pharmaceutical Group Co, a maker of traditional herbal Chinese medicines (TCM), as the German drugmaker pushes to become the world's largest non-prescription medicines group. With China's healthcare spending forecast to nearly triple to $1 trillion by 2020 from $357 billion in 2011, according to consulting firm McKinsey, the country is a magnet for makers of medicines and medical equipment. Dihon has about 2,400 employees and generated sales of 123 million euros ($168 million) in 2013, Bayer said on Thursday, declining to provide the financial terms of the deal. The deal, which could help Bayer challenge Johnson & Johnson to the number-one spot in the over-the-counter (OTC)market, underscores its push into herbal medicine after it bought smaller German supplier Steigerwald last year.
via Health News Headlines - Yahoo News http://ift.tt/1mF7jrb
No comments:
Post a Comment