Kan. and JERUSALEM — Bayer HealthCare LLC and Teva Pharmaceutical Industries
Ltd. say they have signed an agreement in which Bayer will acquire the U.S.
based animal health business of Teva 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 allows Bayer to expand its
companion and food animal product lines in the United States by integrating the
acquired assets into its animal health business. The transaction reflects
Teva''s commitment to focus its efforts on human health and its core expertise
of providing generic and branded medicines to patients around the world. 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.
approved, the acquisition will further strengthen Bayer''s food animal
franchise, bringing a range of anti-infective solutions to treat infections in
livestock populations and introducing reproductive hormones to Bayer''s product
offerings. Additionally, it will broaden Bayer HealthCare Animal Health''s
growing companion animal business by expanding its current offerings to also
include dermatological, pet wellness and nutraceutical products.
Animal Health''s portfolio of companion animal products features a full line of
dermatology products sold under the DVM Pharmaceuticals brand, including such
products as Malaseb, HyLyt, Relief and others. The companion animal business
also has a broad line of nutraceuticals encompassing joint and
gastro-intestinal products, including the Synovi brands. Food animal products
acquired from Teva include a broad range of anti-infectives, in addition to
parasiticides, anti-inflammatory brands and reproductive hormones such as
Prostamate and Ovacyst.