Bayer to pay $1.1B for California firm Conceptus

(AP)—German drug company Bayer AG says it has agreed to buy California-based Conceptus for around $1.1 billion to expand the kinds of birth control it offers.

Bayer said Monday it would launch a public offer to pay $31.00 per share for all the stock in Conceptus, Inc., which is based in Mountain View.

Conceptus makes Essure, an irreversible birth control method in which small metal and polyester coils are inserted to block a woman's . The procedure can be done in 10 minutes in a doctor's office.

Bayer already markets and . CEO Marijn Dekkers said that the deal represented a "strategic bolt-on acquisition" and that it was an "excellent fit in the United States, the world's most important ."

Conceptus CEO D. Keith Grossman was quoted in a Bayer statement as saying Essure "will benefit in new markets from Bayer's global presence."

The deal is subject to approval by antitrust authorities and could be completed by midyear.

Conceptus employs about 300 people. Bayer has about 112,000 employees and is headquartered in Leverkusen, Germany.

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Bayer rules out increasing bid for Schiff Nutrition

Nov 20, 2012

German chemicals and pharmaceuticals giant Bayer withdrew from a battle to buy US-based Schiff Nutrition International on Tuesday, ruling out an increase to its bid against a rival counter offer.

Bayer unveils a faster-acting aspirin

May 29, 2011

Bayer AG is looking for a speedy remedy for stagnant aspirin sales. The company is introducing a reformulated aspirin today that works in half the time of its regular aspirin.

Bayer receives FDA approval for long-term contraceptive

Jan 11, 2013

(HealthDay)—Bayer HealthCare has received approval from the U.S. Food and Drug Administration for its new low-dose levonorgestrel-releasing intrauterine system (IUS) called Skyla, according a Jan. 10 news ...

Recommended for you

Drug research and development more efficient than expected

18 hours ago

Drug R&D costs have increased substantially in recent decades, while the number of new drugs has remained fairly constant, leading to concerns about the sustainability of drug R&D and question about the factors that could ...

Use new meningitis vaccines only for outbreaks

Feb 26, 2015

(AP)—A U.S. panel on Thursday recommended that two new meningitis vaccines only be used for rare outbreaks, resisting tearful pleas to give it routinely to teens and college students.

New antibiotic avycaz approved

Feb 26, 2015

(HealthDay)—The combination antibiotic Avycaz (ceftazidime-avibactam) has been approved by the U.S. Food and Drug Administration to treat adults with complicated infections of the intra-abdominal area or urinary tract, ...

Tagging drugs to fight counterfeit medicines

Feb 25, 2015

The U.S. and other countries are enacting rules to clamp down on the sales of fake pharmaceuticals, which pose a public health threat. But figuring out a system to track and authenticate legitimate drugs still faces significant ...

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.