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Markets News

Bayer buys British developer of treatment for menopausal symptoms

FRANKFURT, Aug 11 (Reuters) - Bayer agreed to acquire British biotech firm KaNDy Therapeutics Ltd. for an initial $425 million to strengthen its women’s healthcare business with a prospective non-hormonal treatment of menopausal symptoms.

Bayer will pay an upfront consideration of $425 million and agreed to make further milestone payments for certain development achievements, the German drugs and pesticides maker said in a statement on Tuesday. (Reporting by Ludwig Burger; editing by Thomas Seythal)

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