- Monsanto (MON +1.3%) moves higher following a Bloomberg report that Bayer (OTCPK:BAYRY) is exploring the sale of its dermatology business, as the German company seeks to sell peripheral businesses to boost its pursuit of MON.
- The business could attract interest from existing makers of skincare products such as Nestle’s (OTCPK:NSRGY, OTCPK:NSRGF) Galderma, Allergan (NYSE:AGN) and Almirall (OTC:LBTSF) of Spain, as well as P-E firms, according to the report.
- Analysts say a sale of the unit could fetch more than €1B ($1.1B).