Mumbai: Drugmakers including Mylan NV and Lupin Ltd are considering bids for Bayer AG’s dermatology business as the German company sells assets ahead of its $66 billion acquisition of Monsanto Co.

Leo Pharma A/S, Cadila Healthcare Ltd and Torrent Pharmaceuticals Ltd are also weighing offers, people familiar with the matter said on conditions of anonymity. Non-binding bids for Bayer’s dermatology unit, which could fetch more than €1 billion ($1.1 billion), may be due as soon as this week, they said. No final decisions have been made, and the companies may decide against making an offer, they said.

Bayer’s assets, which include Desonate for eczema and Finacea for rosacea, are drawing interest from a wide range of drug companies and private equity bidders as dermatology treatments prove popular targets for buyers. Leverkusen, Germany-based Bayer is seeking to raise cash as it moves forward with plans to buy Monsanto, a transaction that will make it the world’s largest producer of seeds and pesticides.

Representatives for Bayer, Denmark’s Leo Pharma and Lupin declined to comment. Representatives for Mylan, Cadila and Torrent didn’t immediately respond to requests for comment.

Other pharmaceutical companies weighing bids for the business include Nestle SA’s Galderma, Almirall SA, Sun Pharmaceutical Industries Ltd, Teva Pharmaceutical Industries Ltd, Allergan Plc and Perrigo Co. as well as private-equity firms such as KKR & Co. and Bain Capital, people familiar with the matter said earlier this month. Bayer is working with JPMorgan Chase & Co. on the sale, they added.

Leo Pharma agreed to buy dermatology assets from Astellas Pharma Inc. last year for €675 million. Mylan announced a $1 billion transaction with Renaissance Acquisition Holdings in May to buy treatments for skin conditions. Bloomberg