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Addition of Leading Calcium Brand Enriches Consumer Care Division's Key Nutritionals Product Portfolio
Morristown, New Jersey, USA (August 30, 2007) - Bayer HealthCare (BHC)
announced today that its Consumer Care Division has signed an agreement with
Mission Pharmacal Company to acquire their global Citracal® line of
over-the-counter (OTC) calcium supplements. The companies have agreed not to
disclose the financial terms of the transaction, which is expected to close
during the fourth quarter of 2007 subject to regulatory approvals.
This acquisition will increase Bayer Consumer Care's market presence in the
United States, the world's largest OTC market. It will also continue to build
upon the company's already strong nutritionals business, which includes leading
brands such as One-A-Day®, Supradyn®, Berocca® and Redoxon®. Further
opportunity may also come by extending the Citracal brands' presence into other
parts of the world, including key growth markets such as Asia Pacific, through
Bayer's considerable global marketing, sales and distribution expertise.
"Our consumer health businesses are a key component of Bayer HealthCare and we
will continue to invest in this area in order to maintain a diversified
portfolio," said Arthur Higgins, Chairman of Bayer HealthCare. "This
acquisition further affirms our strategy and commitment to grow our consumer
health segments and will help to solidify our number two position in the global
OTC market."
"The Citracal brand offers very attractive growth potential both in the
critically important US market and for our nutritionals portfolio, which is a
key growth driver for us now and in the future," said Gary Balkema, President
of Bayer HealthCare's Consumer Care Division.
Citracal is primarily sold in North America and saw net sales of US-Dollar 47.0
million (EUR 36.2 million) for fiscal year 2007.
Commenting on the deal, Neill B. Walsdorf, Jr., President of Mission Pharmacal
Company, said "With a strong entrepreneurial spirit, we have built the Citracal
business by developing innovative products that fulfill unmet consumer needs
and at the same time delivered solid growth and profitability. We are pleased
to have entered into this agreement with Bayer to take this success to the next
level. We believe that Bayer is in a strong position to continue the
impressive growth already achieved for our brand under a new stewardship."
About Bayer HealthCare AG
Bayer HealthCare, a subsidiary of Bayer AG, is one of the world's leading,
innovative companies in the healthcare and medical products industry and is
based in Leverkusen, Germany. The company combines the global activities of the
Animal Health, Consumer Care, Diabetes Care and Pharmaceuticals divisions. The
pharmaceuticals business operates under the name Bayer Schering Pharma and as
Bayer HealthCare Pharmaceuticals in the US and Canada. Bayer HealthCare's aim
is to discover and manufacture products that will improve human and animal
health worldwide.
About Bayer HealthCare's Consumer Care Division
The Consumer Care Division of Bayer HealthCare LLC, is headquartered in
Morristown, New Jersey, USA. Bayer's Consumer Care Division is among the
largest marketers of over-the-counter medications and nutritional supplements
in the world. Some of the most trusted and recognizable brands in the world
today come from the Bayer portfolio of products. These include Bayer® Aspirin,
ALEVE®, Flanax®/Apronax®, Alka-Seltzer Plus®, Bactine®, RID®, Phillips'® Milk
of Magnesia, Midol®, Alka-Seltzer®, Talcid®, Rennie®, Canesten®, Bepanthen®,
Bepanthol®, One-A-Day® vitamins, FlintstonesTM vitamins, Supradyn®, Redoxon®,
Berocca®, Cal-D-Vita/Elevit®, Vital 50 Plus®, CardioAspirin®.
About Mission Pharmacal Company
Mission Pharmacal Company is a family-owned pharmaceutical company based in San
Antonio, Texas. For almost sixty years, the company has been dedicated to
identifying unmet health needs in the marketplace and developing innovative
prescription and over-the-counter products to meet them. Currently, Mission
Pharmacal Company provides physicians and consumers with pharmaceutical,
nutritional and diagnostic products.
About Citracal®
Citracal® UltraDense® calcium citrate, Mission's flagship brand, has been cited
in numerous clinical studies for its optimal solubility, and its proven ability
to help stop bone loss. Citracal has earned the recognition and respect of the
medical community and many physicians recommend Citracal calcium citrate as one
of the best absorbed forms of supplemental calcium. The success of Citracal as
a trusted brand has paved the way for adding exciting new products to the
Citracal line, such as Citracal 250 mg + D, a tablet formulation, and Citracal
Plus with magnesium www.citracal.com.
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