By Hendrik Varnholt
FRANKFURT--German pharmaceutical company Bayer AG (>> Bayer AG) will retain its blood glucose meter business, a spokeswoman said Wednesday, confirming a Bloomberg report.
Bayer had put up the unit for sale and had been in talks with French peer Sanofi SA (>> SANOFI) about a deal which could have been valued at around $1.5 billion, people familiar with the matter told Dow Jones Newswires in December.
"We have evaluated several options and decided to retain it," Bayer HealthCare chief Joerg Reinhardt said about the glucose meter business, according to Bloomberg.
Natali Schwab, Eyk Henning and Dana Cimilluca contributed to this story.
Write to Hendrik Varnholt at [email protected]
Subscribe to WSJ: http://online.wsj.com?mod=djnwires