Bayer To Buy Teva Animal Health For $145 Million

Posted: Sept. 14, 2012, 6:45 p.m. EDT



Published:

Bayer HealthCare LLC of Shawnee, Kan., plans to acquire the animal health business of Teva Pharmaceutical Industries Ltd. of Jerusalem, for up to $145 million, the companies reported Thursday.

The companies signed an agreement through which Bayer will acquire Teva’s animal health business for an upfront payment of $60 million plus $85 million in milestone payments linked to manufacturing and sales targets.

Bayer will acquire Teva’s portfolio of animal health products, including the DVM Pharmaceuticals brand of veterinary dermatology products, a line of companion animal nutraceuticals and several food animal products, including anti-infectives, parasiticides, anti-inflammatories and reproductive hormones. Bayer will also obtain Teva’s manufacturing site in St. Joseph, Mo., which employees about 300 people.

“Bayer’s acquisition of Teva Animal Health will further strengthen and broaden our U.S. range of animal care solutions so that, together with our customers, we can continue to protect, cure and care for animals across America,” said Ian Spinks, president and general manager of Bayer Healthcare Animal Health North America. “The businesses are a great strategic fit, and Teva’s animal health portfolio adds new depth for us across both the companion and food animal areas.”

The companies expect to close the deal in 2013, subject to antitrust clearance and satisfaction of other conditions, they reported.

<HOME>

Edit Module
Edit ModuleShow Tags

Archive »Read More

BluePearl Jumps in With Penguin Cataract Surgery

Two Detroit Zoo penguins underwent surgery at BluePearl Veterinary Partners in Southfield, Mich.

All-Inclusive Pet Hotel, Vet Practice Expands

Dr. Boyd’s Pet Resort & Veterinary Center offers everything from boarding and day care to grooming and veterinary care.

Aratana Moves Ahead on 2 Canine Drugs

Missouri company sees good early results from treatments for osteoarthritis and post-operative pain in dogs.

Add your comment:
Edit Module
Edit ModuleEdit ModuleShow Tags Edit Module
Edit Module Edit Module
Edit ModuleShow Tags

Events


Show More...
Edit Module
Edit Module