The companies first announced the proposed transaction on July 31, 2018 and completed the first step of the acquisition with the closing in the United States on September 4, 2018. Today's second and final closing covers all other countries.

Gitte Aabo, President and CEO of LEO Pharma said: "Today is a historic day for LEO Pharma. With the strong prescription dermatology brands and the new colleagues from Bayer, LEO Pharma advances significantly towards our goal of helping 125 million patients by 2025. We broaden our treatment range within the areas of acne, fungal skin infections and rosacea, as well as our range of topical steroids. By completing the final part of the acquisition, we considerably enhance our size in key markets like Brazil, Austria, and South Africa – underlining our ambition to become a world leader in medical dermatology."

"We're pleased to have found the right owner in LEO Phama to take our Rx Dermatology business to the next level," said Heiko Schipper, member of Bayer's Board of Management and President of Consumer Health. "With this divestiture we further our goal to focus on our core OTC categories and develop our Consumer Health business to its full potential."

As announced as part of the agreement, LEO Pharma has now acquired the global product rights for Bayer's global prescription dermatology business with the exception of Afghanistan and Pakistan. This includes a production facility in Segrate, Italy and a total of 347 employees who will join LEO Pharma.

Subject to applicable laws, LEO Pharma and Bayer have worked closely together to secure an effective transition and an uninterrupted supply of prescription dermatology treatments.

About Bayer

Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2018, the Group employed around 117,000 people and had sales of 39.6 billion euros. Capital expenditures amounted to 2.6 billion euros, R&D expenses to 5.2 billion euros. For more information, go to www.bayer.com create link

Tricia McKernan
tricia.mckernan@bayer.com
Tel. +41 58 272 7871

Dr. Rolf Ackermann
rolf.ackermann@bayer.com
Tel. +49 214 30 41782

Forward-Looking Statements

This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer's public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.