Market Overview

LEO Pharma Closes Acquisition of Bayer's Prescription Dermatology Business in the United States


LEO Pharma and Bayer announced today the completion of the relevant
closing conditions to allow the transfer of Bayer's prescription
dermatology business to LEO Pharma in the United States. Closing in all
other countries is expected during the second half of 2019, subject to
the fulfillment of customary closing conditions.

LEO Pharma and Bayer entered into an agreement for the acquisition of
Bayer's global portfolio of prescription dermatology products as
announced on July 31, 2018. This includes Finacea® (azelaic
acid) Foam for the topical treatment of mild to moderate rosacea, a
range of topical steroids and other products for the treatment of acne
and fungal skin infections.

Chris Posner, President and CEO of LEO Pharma US, said: "This is an
exciting time for LEO Pharma in the US. Completing this acquisition
enables LEO Pharma US to significantly broaden its therapeutic areas and
skilled workforce, ultimately providing more treatment options for
dermatology patients across the country."

"Our Rx Dermatology colleagues have worked diligently to develop this
business over many years," said Patrick Lockwood-Taylor, President of
Bayer's Consumer Health business in North America. "With the closing of
the transaction in the US, the business is now in the best hands for
future growth and allows Bayer to focus on our core OTC business. I want
to thank the Bayer and LEO teams for their great collaboration that
brought us to this milestone in such a short period of time."

As announced as part of the agreement, LEO Pharma will acquire the
global product rights, except for Afghanistan and Pakistan, and take
over the sales and marketing organizations in 14 countries, as well as a
factory in Segrate, Italy. Assuming the successful close, around 450
people will join LEO Pharma as part of this transaction.

Subject to applicable laws, LEO Pharma and Bayer will continue to work
closely together with the aim of securing an effective transition of the
business in the rest of the world and an uninterrupted supply of
prescription dermatology treatments that patients have come to rely on
and trust.

- END -

About LEO Pharma
LEO Pharma helps people achieve healthy
skin. By offering care solutions to patients in more than 130 countries
globally, LEO Pharma supports people in managing their skin conditions.
Founded in 1908 and owned by the LEO Foundation, the healthcare company
headquartered in Denmark has devoted decades of research and development
to delivering products and solutions to people with skin conditions. In
2017 LEO Pharma employed around 5,200 people worldwide and had sales of
1.4 billion euros. For more information, go to:

About Bayer
Bayer is a global enterprise with core
competencies in the life science fields of health care and agriculture.
Its products and services are designed to benefit people and improve
their quality of life. At the same time, the Group aims to create value
through innovation, growth and high earning power. Bayer is committed to
the principles of sustainable development and to its social and ethical
responsibilities as a corporate citizen. In fiscal 2017, the Group
employed around 99,800 people and had sales of 35.0 billion euros.
Capital expenditures amounted to 2.4 billion euros, R&D expenses to 4.5
billion euros. For more information, go to

Forward-Looking Statements
This release may contain
forward-looking statements based on current assumptions and forecasts
made by Bayer management. Various known and unknown risks, uncertainties
and other factors could lead to material differences between the actual
future results, financial situation, development or performance of the
company and the estimates given here. These factors include those
discussed in Bayer's public reports which are available on the Bayer
website at
The company assumes no liability whatsoever to update these
forward-looking statements or to conform them to future events or

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