February 27, 2014 / 7:41 AM / in 4 years

Bayer buys Chinese OTC drugmaker Dihon

FRANKFURT, Feb 27 (Reuters) - Germany’s Bayer said it would buy Dihon Pharmaceutical Group Co, a privately held pharmaceutical company specialising in over-the-counter (OTC) and herbal traditional Chinese medicine (TCM) products.

Bayer said on Thursday it expected the deal to close in the second half of 2014, without providing financial details.

Dihon, which has several manufacturing sites throughout China, has about 2,400 employees and generated sales of 123 million euros ($168.1 million) in 2013, Bayer said.

$1 = 0.7317 euros Reporting by Maria Sheahan; Editing by Victoria Bryan

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