Bayer buys Pharmonyx' distribution network
Bayer HealthCare, a division of Germany's Bayer AG, says it has taken over the marketing and distribution network of its Russian partner Pharmonyx. The deal, which covers the latter's home territory, Belarus, the Ukraine and Kazakhstahn, brings to an end an agreement that was established in 1999.
Bayer went on to say that the transaction, financial terms of which were not released, would strengthen its position in eastern Europe, and bolster the expansion of its Consumer Care, Bayer Schering Pharma and Diabetes Care divisions. The firm added that 219 staff members currently working for the Pharmonyx network will be integrated into its organization, with the majority joining its sales and marketing operations.
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