Bayer Corporation (BAY) Mulls Diabetes Device Unit Sale: Sources
5/10/2012 9:14:22 AM
Germany's largest drugmaker Bayer is considering the sale of its blood glucose meters business as it offers few synergies with its other healthcare activities, two people familiar with the matter said on Wednesday. Bayer has held talks with prospective buyers of its Diabetes Care unit, which has annual sales of about 1 billion euros ($1.3 billion), the sources said. Proceeds from the sale could increase Bayer's flexibility as it looks for takeover opportunities, they said. Bayer has said that while its focus is on organic growth it would look for acquisition targets to strengthen its healthcare or genetically modified seeds businesses.