Bayer buys over-the-counter health unit from Libertyville's Sagmel

Bayer AG, Germany's biggest drugmaker, agreed to buy the over-the-counter medicines unit from Libertyville-based Sagmel Inc. to expand in eastern Europe.

Financial details of the transaction, which is expected to close later this year, will remain confidential, Leverkusen- based Bayer said in an e-mailed statement today.

The acquisition gives Bayer the painkiller Theraflex, the hemorrhoid treatment Relief and the Calcemin, Theravit and Jungle supplements. Bayer's consumer-health unit sells brands including Aspirin, Alka-Seltzer, and Rennie. Sagmelhad sales of $119.9 million from the unit in the 12 months starting October 2006.

``Our consumer-health business is a key component of Bayer HealthCare and we will continue to invest in this area in order to ensure further growth,'' Arthur Higgins, chief executive officer of Bayer's health-care unit said in the statement.