Grünenthal, a pharmaceutical company, has bought NebidoTM, a provider of male hypogonadism treatment, from Bayer AG for $500 million.

NebidoTM is sold in 80 countries and is the only long-acting injectable treatment for testosterone deficiency.

“One in six men over 50 live with the symptoms of testosterone deficiency. Too few of these patients receive appropriate treatment. We are committed to facilitating access to treatment for even more patients in need,” says Gabriel Baertschi, CEO of Grünenthal. “Grünenthal’s strong track record of acquiring established brands has significantly improved our profitability, allowing us to invest in research and development and create the next generation of pain therapies.”