FRANKFURT Dec 7 Bayer is unlikely to
sell its blood glucose meters business for the time being, after
failing to generate sufficient interest from buyers, two people
familiar with the situation said on Friday.
They were responding to a Wall Street Journal report that
French drugmaker Sanofi was the last remaining bidder
for the unit, which Germany's Bayer was looking to sell in a
deal valued at around $1.5 billion or more.
One source told Reuters that Sanofi had looked at the Bayer
business but had decided not to pursue it as the operation,
which has annual sales of about 1 billion euros ($1.3 billion),
was not sufficiently attractive.
The idea that Bayer might sell the unit was first raised in
May. German newspapers reported in October, however, that Bayer
had called off the sale, after failing to find a bidder willing
to pay a high enough price.
Officials at Bayer and Sanofi declined to comment on Friday.
Other major suppliers of glucose monitors, which are used by
people with diabetes, include Roche, Johnson & Johnson
and Abbott Laboratories.