January 3, 2013
Bayer HealthCare of Shawnee, Kan., won regulatory approval today to complete its acquisition of Teva Animal Health.
The Federal Trade Commission approved the $145 million transaction, which includes a plant in St. Joseph, Mo., and nearly 300 employees, Bayer reported. Among the Teva products moving under Bayer's control are the DVM Pharmaceuticals line, which includes SynoviG3 supplements, HyLyt grooming solutions and Relief shampoo.
“This acquisition fits nicely with our strategic goals," Bayer HealthCare CEO Joerg Reinhardt said. "It allows us to strengthen and broaden our range of animal care solutions in the U.S. market.”
Bayer also gains reproductive hormones such as Prostamate and Ovacyst, parasiticides, anti-inflammatories and products designed to treat infections in livestock.
“Now, more than ever, we are well positioned to offer our customers the range of animal care products they want and need,” said Ian Spinks, president and general manager of Bayer HealthCare Animal Health, North America.
Saint Joseph-based Teva Animal Health is part of Teva Pharmaceutical Industries Ltd.
The purchase agreement was announced in September.
Source URL: https://www.veterinarypracticenews.com/bayer-gets-go-ahead-for-purchase-of-teva-animal-health/
Copyright ©2019 Veterinary Practice News unless otherwise noted.