Bayer HealthCare Nears China OTC Deal.

(From SinoCast China Financial Watch)

SHANGHAI, May 17, SinoCast -- Bayer HealthCare, one of the world??s largest suppliers of medicines, diagnosis equipment and other medical products, plans to acquire a majority stake in Qidong Gaitianli Medicines Co in an effort to boost its over- the-counter medicine business in China, sources said. Bayer HealthCare is in talks to buy a 54.51 percent stake in Qidong Gaitianli held by its controlling shareholder, Topsun Science and Technology Co., Ltd. (600771.SH), the sources said. The talks have entered the second round, they said, and the buyer is expected to pay EUR 130 million or as much as CNY 1.3 billion, as Bayer …