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Bayer AG

This article was originally published in The Rose Sheet

Executive Summary

Firm to acquire Sterling Winthrop's OTCs in North America from SmithKline Beecham for $1 bil., just two weeks after SmithKline reached an agreement with Eastman Kodak to purchase Sterling Winthrop's global consumer health business. With the buy, Bayer adds Stri-Dex acne products to its stable. SmithKline Beecham noted that the OTC business acquired by Bayer, to be managed by Bayer subsidiary Miles Inc., had sales of $366 mil. in 1993, with profits at $43 mil. and net assets of $187 mil. for the year. Sterling Winthrop sold the rights to market the pHisoDerm brand in the U.S., Canada and Puerto Rico to Chattem in June ("The Rose Sheet" June 27, p. 11)
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