Bayer HealthCare to purchase pharmacy supplier Steigerwald Arzneimittelwerk

Bayer HealthCare has agreed a deal to acquire Steigerwald Arzneimittelwerk, a privately-held pharmaceutical company specialising in the creation of pharmacy-only herbal medicines.

Based in Germany, the firm is responsible for commercialising the functional gastrointestinal disorder therapy Iberogast and the mild to moderate depression treatment Laif, generating sales of 61.3 million euros (51.78 million pounds) in 2012.

The transaction is expected to close in July 2013 and will broaden Bayer's portfolio of therapies for gastrointestinal disorders, while also augmenting its position in the European over-the-counter market.

All of Steigerwald's approximately 180 employees will transition to Bayer, while its Darmstadt headquarters and the sales organisation will retain their existing structures.

Dr Marijn Dekkers, chief executive officer of Bayer, said: "This transaction is further evidence of our commitment to augment organic growth with strategic bolt-on acquisitions. It will allow us to provide consumers with an even broader range of self-care options."

Last month, the firm announced the acquisition of Conceptus, a leading provider of innovative device-based solutions for permanent birth control.