Bayer HealthCare to acquire Teva’s animal health business in US

Dr Joerg Reinhardt, Chief Executive Officer, Bayer HealthCare.

LEVERKUSEN, GERMANY/SHAWNEE, US: Bayer HealthCare has signed an agreement to acquire the US - animal health business of Teva Pharmaceutical Industries Ltd for up to $145 million. The purchase price includes an upfront payment of $60 million plus a total of $85 million in milestone payments, which are linked to the successful and timely achievement of manufacturing and sales targets.

The acquisition will reinforce the food animal franchise of Bayer HealthCare by providing a range of anti-infective solutions for livestock and introducing reproductive hormones to Bayer’s product offerings. This transaction will also strengthen Bayer HealthCare’s companion animal franchise by expanding its portfolio with dermatological, pet wellness and nutraceutical products. The transaction, encompassing a manufacturing site in St Joseph, Missouri, is expected to close in 2013.

“Teva’s animal health business is a great strategic fit that allows us to strengthen and broaden our range of animal care solutions for our customers. Through this acquisition we will leverage our own strong product line, customer relationships and brand equity and are looking forward to offer more treatment solutions to our customers,” said Dr Joerg Reinhardt, Chief Executive Officer, Bayer HealthCare.

© WOC News