Bayer to buy Chinese drugmaker Dihon

German drugmaker Bayer AG (BAYN.ETR) agreed to buy Kunming-based Dihon Pharmaceutical Group to gain Chinese over-the-counter products and traditional herbal treatments, Bloomberg reported, citing a statement by CEO Marijn Dekkers. Bayer said it expects the deal to close in the second half of the year, pending regulatory approval. “This acquisition moves us into a leading position amongst multinationals in the OTC industry in China,” Dekkers said. The deal underscores interest from large drugmakers in over-the-counter health products and herbal treatments as they expand into Asia.