M&A Deals: Bayer acquires Schiff Nutrition International for an agreed $1.2 billion

Posted on 31 October 2012

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Germany's Bayer, a top name in the pharma circle is set buy U.S. vitamins maker Schiff Nutrition International for an agreed $1.2 billion in a m&a agreement,  as it seeks stable sources of growth to complement its more volatile prescription drugs business.

This m&a deal values Schiff at about 3.1 times its forecast annual sales, around the upper end of typical deal multiples of 2-3 in the non-prescription drugs industry.

While Bayer expects to benefit from new prescription drugs like Xarelto for stroke prevention, it has struck a series of a small and medium-sized deals to tap growth in markets like animal health, crop protection and over-the-counter drugs.

The strategy shows signs of bearing fruit as the group raised its full-year earnings forecast in July, in part because of strong demand at its farming pesticides business.

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