As it prepares to pay a higher price to acquire US agrochemicals giant Monsanto – if it comes to a deal at all  – Bayer is said to be exploring the sale of its dermatology business. Bayer is working with JPMorgan Chase & Co on the sale, which could bring in more than €1 billion, sources cited by the news agency Bloomberg said.

Analysts told Bloomberg the dermatology business, most of which was picked up in the 2006 aquisition of former Berlin-based drugmaker Schering, could attract interest from existing manufacturers of skincare products including Nestle’s, Allergan and Almirall as well as private equity firms, Bloomberg’s sources suggested. 

Since announcing plans to acquire Monsanto, observers have also mooted that the Germany-based group could also shed its animal health business.