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Leverkusen, Germany / Shawnee, Kansas, September 14, 2012 – Bayer HealthCare has signed an agreement to acquire the US-Animal Health business of Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) 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.
About Bayer HealthCare
The Bayer Group is a global enterprise with core competencies in the fields of health care, agriculture and high-tech materials. Bayer HealthCare, a subgroup of Bayer AG with annual sales of EUR 17.2 billion (2011), is one of the world’s leading, innovative companies in the healthcare and medical products industry and is based in Leverkusen, Germany. The company combines the global activities of the Animal Health, Consumer Care, Medical Care and Pharmaceuticals divisions. Bayer HealthCare’s aim is to discover, develop, manufacture and market products that will improve human and animal health worldwide. Bayer HealthCare has a global workforce of 55,700 employees (Dec 31, 2011) and is represented in more than 100 countries. More information at www.healthcare.bayer.com.
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This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
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