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Bayer to buy Teva Pharma's US-animal health business for US$ 145 million

Leverkusen, Germany
Friday, September 14, 2012, 15:00 Hrs  [IST]

Bayer HealthCare, a global enterprise with core competencies in the fields of health care, agriculture and high-tech materials, has signed an agreement to acquire the US-Animal Health business of Teva Pharmaceutical Industries Ltd. for up to 145 million USD. The purchase price includes an upfront payment of 60 million USD plus a total of 85 million USD 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 and around 300 employees, is expected to close in 2013, subject to antitrust clearance and satisfaction of other conditions.

“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,” said Dr Joerg Reinhardt, chief executive officer, Bayer HealthCare. “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.”

The new portfolio will include a strong anti-infectives franchise and will enable Bayer to be present in all major therapeutic areas. The companion animal products features a full line of dermatology products sold under the DVM Pharmaceutical brand, including such products as Malaseb, HyLyt, Relief and others. Further companion animal products include a broad line of nutraceuticals encompassing joint and gastro-intestinal products including the Synovi brands. Food animal products acquired from Teva include a wide range of anti-infectives in addition to parasiticides, anti-inflammatory brands and reproductive hormones.

 

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