Bayer HealthCare Acquires Teva's US Animal Health Business - - BioPharm International

ADVERTISEMENT

Bayer HealthCare Acquires Teva's US Animal Health Business



Teva announced an agreement in which Bayer HealthCare will acquire the US-based animal health business of Teva Pharmaceutical Industries for up to 145 million USD, Teva said in a Sept. 14 press release. The transaction is expected to close in 2013, subject to antitrust clearance and other conditions. 

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 transaction involves a manufacturing site in St. Joseph, Missouri and around 300 employees.

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 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. We believe it will be a win-win for both our customers and our combined employee bases,” said Ian Spinks, president and general manager of Bayer HealthCare Animal Health North America, in the Teva press release.  

The deal reflects Teva’s focus on human health. “As part of our overall strategy to refine our global footprint, we will continue to leverage our product portfolio and R&D efforts while selling or out-licensing assets that no longer fit within the scope of our business,” said Itzhak Krinsky, group executive vice president and head of business development of Teva, in the press release.

Teva’s exit from the animal health segment follows Pfizer’s announcement in August of a plan to transfer its animal health business to its Zoetis subsidiary prior to a pending IPO.

blog comments powered by Disqus

ADVERTISEMENT

ADVERTISEMENT

New Tax Rules May Deter Future Pharma M&A
October 1, 2014
NIH Seeks to Improve Vaccine Response with New Adjuvants
September 30, 2014
New Report Details Players and Pipelines in the Biosimilar Space
September 30, 2014
Baxter International Plans to Open R&D Center for Baxalta
September 30, 2014
FDA Releases First-Ever Purple Book for Biosimilar Characterization
September 26, 2014
Author Guidelines

Click here