Pharmaceutical company Bayer AG is buying Steigerwald Arzneimittelwerk GmbH for an undisclosed amount.
Steigerwald, headquartered in Darmstadt, Germany, makes herbal medicines, including Iberogast, which is used to treat gastrointestinal disorder, and Laif, which aims to treat depression.
The deal allows Leverkusen, Germany-based Bayer to increase its product offerings for gastrointestinal disorders.
In September, the company bought Teva Pharmaceutical Industries Ltd.’s (NYSE: TEVA) animal health business for $145 million.
In April, Bayer sold Baynik, a nano-silver ink technology company, to Clariant International AG.