Grünenthal is paying up to €500 million ($501 million) for rights to Nebido (testosterone undecanoate), which is sold in around 80 countries worldwide for testosterone deficiency and made sales of €117 million last year.
The legacy product now lies outside Bayer’s core areas of cardiology, oncology, haematology, ophthalmology, women’s health and radiopharmaceuticals, and the funds raised from the sale will support the “ongoing transformation of Bayer’s pharma business to focus on key areas of future medical innovation”, said the company.
