MORRISTOWN, N.J. Bayer HealthCare on Thursday announced an agreement with Mission Pharmacal Company to acquire its global Citracal line of over-the-counter calcium supplements.
The companies have not disclosed the financial terms of the transaction, which is expected to close during the fourth quarter of 2007 subject to regulatory approvals.
"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," stated 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 U.S. market and for our nutritionals portfolio, which is a key growth driver for us now and in the future," stated Gary Balkema, president of Bayer HealthCare’s Consumer Care Division.
Citracal is primarily sold in North America and saw net sales of $47 million for fiscal year 2007.
This acquisition will increase Bayer Consumer Care’s market presence in the United States, which includes leading dietary supplement brands like One-A-Day.