July 31, 2018 / 1:31 PM / 3 months ago

Bayer sells prescription dermatology brands to Denmark's Leo Pharma

FRANKFURT, July 31 (Reuters) - Bayer agreed to sell its established prescription dermatology brands to Denmark’s Leo Pharma, as the German drugmaker focuses on integrating seed maker Monsanto and on bolstering its drug development pipeline.

The portfolio to be sold includes prescription skin creams against acne, fungal skin infections and rosacea, as well as some steroidal creams with 2017 revenues of more than 280 million euros ($328 million).

The transaction does not include Bayer’s over-the-counter dermatology brands such as Bepanthen and Canesten, Bayer added.

Financial terms were not disclosed. ($1 = 0.8538 euros) (Reporting by Ludwig Burger)

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