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Bayer expands birth control business with $1.1bn Conceptus acquisition

Adds permanent contraception Essure to portfolio

Bayer expands birth control business with $1.1bn Conceptus acquisition

Bayer has expanded its efforts in contraception with the acquisition of California-based Conceptus for $1.1bn.

The principal asset in the deal is Conceptus' Essure, which Bayer describes as the leading non-surgical permanent birth control method, involving the placement of soft, flexible inserts into a woman's fallopian tubes through the cervix without incisions.

According to Conceptus, about 730,000 women worldwide have undergone the procedure since its approval in 2002, and Essure achieved sales of $141m during 2012.

The product provides Bayer with complete range of short-term, long-term and permanent contraceptive choices for women, adding to existing birth control options, such as the long-acting implant Mirena (levonorgestrel) and the Yaz (drospirenone/ethinyl estradiol) family of oral contraceptives.

The Yaz family recently lost patent protection however, leaving the product open to generic competition, and Bayer will be counting on continued growth of Essure to overcome the expected decline in sales.

Of particular importance is the drug's potential in international markets, considering Conceptus achieved US sales of $26.5m in the first quarter of 2013 (growth of 21.7 per cent), but just $7.6m in other markets (growth of 5.0 per cent).

Bayer has an existing global presence, however, and is better placed that Conceptus to continue the expansion of Essure.

“We believe that under Bayer's ownership, the Essure product will more rapidly become the standard of care in our established markets, and will benefit in new markets from Bayer's global presence,” said D Keith Grossman, president and CEO of Conceptus.

The deal is subject to anti-trust approval in the US, but is expected to close by the middle of 2013. Once confirmed, Conceptus will join Bayer's healthcare arm Bayer Healthcare.

Dr Marijn Dekkers, CEO of Bayer, said the acquisition “represents an excellent fit for our HealthCare business”, and was part of the company's wider growth strategy.

“Bayer is committed to augmenting its organic growth with strategic bolt-on acquisitions,” he added.

30th April 2013

From: Sales

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