In $500M deal, Bayer offloads testosterone deficiency drug Nebido to Grünenthal

Bayer has found a buyer for its hypogonadism drug Nebido but is keeping it in Germany as Grünenthal picks up its global rights for 500 million euros ($500 million).

The treatment, which is the lone long-acting injectable for males with testosterone deficiency, garnered sales of 117 million euros ($117 million) last year in more than 80 countries. It is patented until 2024 in Europe and 2027 in the United States.