Yet Another Acquisition for Bayer - Analyst Blog
21 Mai 2013 - 4:50PM
Zacks
Bayer (BAYRY)
recently inked a deal to acquire all shares of Germany-based
Steigerwald Arzneimittelwerk GmbH. Steigerwald Arzneimittelwerk is
a private pharmaceutical company which specializes in pharmacy-only
herbal medicines.
The transaction is expected to
close early July this year on the fulfilment of certain conditions,
including antitrust clearance. The companies kept the financial
details of the transaction undisclosed. Bayer also agreed to take
over all employees (approx. 180 people) of Steigerwald
Arzneimittelwerk.
With the acquisition, Bayer will
add Iberogast and Laif in its product portfolio. While Iberogast is
approved for the treatment of functional gastrointestinal
disorders, Laif is approved for the treatment of mild-to-moderate
depression. In 2012, Steigerwald Arzneimittelwerk recorded sales of
€61.3 million.
Bayer has been pretty active on the
acquisition front in the last few months. The company was in the
news recently with the announcement of its intention to acquire
Conceptus Inc. (CPTS), which develops and
commercializes innovative device-based solutions in permanent birth
control. Earlier this month, Bayer commenced a cash tender offer to
acquire all shares of Conceptus for $31.00 per share (approx. $ 1.1
billion).
The Conceptus acquisition will add
the Essure permanent (non-surgical) birth control system to Bayer’s
product portfolio. We note that Conceptus’ Essure procedure was
approved in 2002 in the US and is well accepted in the market.
Successful completion of the acquisition would ensure the presence
of short-term, long-term and permanent contraceptive choices from
Bayer’s portfolio for women.
Bayer presently carries a Zacks
Rank #3 (Hold). Other stocks such as Alexion
Pharmaceuticals Inc. (ALXN) and Alkermes
(ALKS) currently look more attractive. Both stocks carry a Zacks
Rank #2 (Buy).
ALKERMES INC (ALKS): Free Stock Analysis Report
ALEXION PHARMA (ALXN): Free Stock Analysis Report
BAYER A G -ADR (BAYRY): Free Stock Analysis Report
CONCEPTUS INC (CPTS): Free Stock Analysis Report
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