ISTANBUL — German pharmaceutical and life sciences company Bayer has signed a €3 billion ($3.4 billion) financing agreement with investment firm Apollo, under which Apollo-managed funds will acquire a minority, non-controlling stake in Bayer’s long-acting reversible contraceptives (LARC) business.
The transaction involves the creation of a new entity that will hold Bayer’s portfolio of long-acting contraceptive products, including Mirena, Kyleena, Jaydess (Skyla) and Jadelle. Bayer will retain a majority ownership stake and continue to exercise full operational control over the business, which will remain fully consolidated in the company’s financial statements.
Bayer said the deal will provide €3 billion in equity capital, strengthening its balance sheet and improving financial flexibility as the company manages upcoming bond maturities and litigation-related liquidity requirements. Chief Financial Officer Judith Hartmann described the agreement as a strategic financing solution that enhances the company’s capital structure without divesting control of a core pharmaceutical business.
The LARC business is one of Bayer’s fastest-growing pharmaceutical segments, generating €1.37 billion in sales in 2025, supported by strong global demand for long-acting contraceptive products. The company remains the leading global supplier in the category.
The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals, including antitrust clearance, and other customary closing conditions.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök