Starting news article english 17 May 2013

Clifford Chance advised Bayer on the acquisition of Steigerwald Arzneimittelwerk GmbH

Clifford Chance advised Bayer on the acquisition of Steigerwald Arzneimittelwerk GmbH ("Steigerwald"), Darmstadt. The acquisition is a strategic move for strengthening Bayer's Consumer Care division which specializes in marketing OTC medicinal products. The transaction is subject to approval from the competent antitrust authorities. The parties have agreed not to disclose the purchase price.

Privately-owned Steigerwald specializes in high-quality pharmacy-only herbal medicines (such as Iberogast®). Steigerwald employs around 180 members of staff and achieved a turnover of EUR 61.3 million in 2012.

Bayer's sub-group Bayer HealthCare (turnover in 2012: EUR 18.6 million) belongs to the world's leading innovative companies in the healthcare sector for medicines and medical products. In 2012, the Consumer Care division generated a turnover of EUR 3.8 million.

The Clifford Chance team was led by partner Dr. Christoph Witte (Corporate/M&A) and included associate Christian Hübner (Corporate/M&A/Healthcare), partner Dr. Joachim Schütze and senior associate Ruth Jorias (both Antitrust), partner Thomas Hey and associate Anja Schöder (both Employment), senior associates Marc Oeben and Maria Heil (both Corporate/Healthcare) as well as associate Dr. Werner Brickwedde (Corporate/M&A) – all Düsseldorf.