An agreement has been signed in which Bayer HealthCare LLC and Teva Pharmaceutical Industries Ltd have signed an agreement. Bayer will acquire the United States based animal health business of Teva for up to 145 million U.S. dollars.
Bayer will expand its companion and food product animal lines in this country by integrating these acquired assets into its animal health business. The transaction is expected to close in 2013 after antitrust clearance and the satisfaction of other conditions.
Itzhak Krinsky, Group Executive Vice President and Head of Business Development of Teva Pharmaceutical Industries Ltd., shared, “We are pleased with the sale of our animal healthcare business to Bayer HealthCare, a leader in animal healthcare… 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.”
Some of Teva Animal Health’s portfolio includes companion animal products sold under the DVM Pharmaceuticals brands such as Malaseb, HyLyt, Relief and others. Some of the food animal products that have been acquired from Teva include anti-infectives, parasiticides, anti-inflammatory brands and reproductive hormones such as Prostamate and Ovacyst.
Teva Pharmaceutical is located in Israel and is touted as the world’s leading generic drug maker. They employ over 46,000 people worldwide and reached $18.3 billion in net revenues in 2011.
The Bayer Group is global and is involved in health care, nutrition, and high-tech materials. A subgroup of Bayer AG, Bayer HealthCare, is based in Germany. The company combines the global activities of the Animal Health, Consumer Care, Medical Care and Pharmaceuticals divisions. Bayer HealthCare employs over 55,700 employees worldwide as of the end of 2011 with representation in more than 100 countries.