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Bayer sells Dr. Scholl's foot care business to Boston firm

BERLIN (AP) — German pharmaceutical and chemical company Bayer AG says U.S. investment firm Yellow Wood Partners will buy its Dr. Scholl's foot care business for $585 million. Bayer said Monday that the sale will enable it to "focus on building its core over-the-counter brands." It said that Yellow Wood Partners, based in Boston, will create a stand-alone company and plans to invest in all aspects of the business.

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