Bayer, a top pharma company is considering the sale of its blood glucose meters business as it offers few synergies with its other healthcare activities, two people familiar with the matter said on Wednesday.
The top pharma company, Bayer has held talks with prospective buyers of its Diabetes Care unit, which has annual sales of about 1 billion euros ($1.3 billion), the sources said.
Proceeds from the sale could increase the top pharma company's flexibility as it looks for takeover opportunities, they said. Bayer has said that while its focus is on organic growth it would look for acquisition targets to strengthen its healthcare or genetically modified seeds businesses.
Financial Times Deutschland had reported the mooted sale earlier in its Wednesday edition.
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