Date: 2013-01-04
Type of information: Pipeline acquisition
Acquired company: U.S. Animal Health Business From Teva Pharmaceutical Industries (Israel)
Acquiring company: Bayer (Germany)
Amount: $ 145 million (€ 110.45 million)
Terms: * On January 4, 2013, Bayer HealthCare has announcedthat it has received the necessary regulatory approval from the Federal Trade Commission to complete the acquisition of the U.S.-based animal health business of Teva Pharmaceutical Industries Ltd. As announced in September 2012, Bayer will pay up to $ 145 million which 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 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. * On September 14, 2012, Bayer HealthCare LLC and Teva Pharmaceutical Industries 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.
Details:
Related: Animal healthcare
Veterinary industry
Animal food
