By Fineline Cube 
Bayer AG (ETR: BAYN) announced that it has entered into a Share Purchase Agreement (SPA) with HSG (formerly Sequoia Capital China) to divest the assets and business related to its fluoroquinolone antibiotic Avelox (moxifloxacin). The transaction is valued at €160 million to €260 million (≈ ¥1.32 billion to ¥2.15 billion).
Deal Highlights
- Strategic Fit – Avelox, historically a core product in China’s volume‑based procurement (VBP) program, is deemed a non‑core asset under Bayer’s “divestment of mature brands” strategy.
- Financial Impact – The sale will provide Bayer with a cash injection to support its portfolio shift toward high‑growth, high‑margin therapeutics.
- Timing – The SPA was signed in the second quarter of 2025; HSG has yet to confirm the transaction publicly.
Market Context
- Moxifloxacin Sales – Bayer did not disclose 2025 interim sales for Avelox, reflecting its declining commercial relevance.
- China’s VBP Dynamics – The drug’s prior inclusion in VBP batches underscores its historical importance; the divestiture signals a broader shift away from legacy antibiotics in the Chinese market.
- HSG’s Position – As a former Sequoia Capital China vehicle, HSG is positioned to acquire and potentially reposition the asset within its broader pharmaceutical portfolio.
Forward‑Looking Statements
This release contains forward‑looking statements that involve risks and uncertainties. Actual results may differ materially.-Fineline Info & Tech