Bayer HealthCare completes acquisition of Teva Pharmaceutical Industries' U.S.
animal health business
New product lines strengthen Bayer's U.S. animal health presence
LEVERKUSEN, Germany and SHAWNEE, Kan., Jan. 3, 2013
LEVERKUSEN, Germanyand SHAWNEE, Kan., Jan. 3, 2013 /PRNewswire/ --Bayer
HealthCare LLC announced today that it has received the necessary regulatory
approvals to complete the acquisition of the U.S.-based animal health business
of Teva Pharmaceutical Industries Ltd. (NYSE: TEVA). Bayer will pay up to 145
million USD following the achievement of successful manufacturing and sales
targets. The transaction includes a manufacturing site in St. Joseph, Missouri
and nearly 300 employees.
(Logo: http://photos.prnewswire.com/prnh/20120615/NY25219LOGO-a )
The acquisition, which was announced in September 2012, met all requirements
contained in the initial agreement between Bayer and Teva, and recently
received the necessary regulatory approval from the Federal Trade Commission.
"This acquisition fits nicely with our strategic goals. It allows us to
strengthen and broaden our range of animal care solutions in the U.S. market,"
said Dr. Joerg Reinhardt, Chief Executive Officer, Bayer HealthCare.
Bayer HealthCare Animal Health's food animal franchise will be strengthened
with the addition of a range of anti-infective solutions to treat infections
in livestock populations. It also introduces reproductive hormones to Bayer's
product offerings. Bayer's growing companion animal business is further
enriched with the addition of dermatological, pet wellness and nutraceutical
"Bayer HealthCare is a leader in the companion animal and food animal health
industry, and, now, more than ever, we are well positioned to offer our
customers the range of animal care products they want and need," said Ian
Spinks, President and General Manager, Bayer HealthCare Animal Health, North
America."Bayer HealthCare Animal Health is committed to providing
veterinarians with the innovative solutions they seek to treat animals in
their care. The combined portfolio attained through the acquisition
strengthens our ability to achieve that commitment."
The acquisition features a portfolio of companion animal products, including:
dermatology products sold under the DVM Pharmaceuticals brand, such as
SynoviG3, HyLyt® and Relief®; as well as nutraceuticals encompassing joint and
gastro-intestinal products, including the Synovi brands. Newly acquired food
animal products include a broad range of anti-infectives, in addition to
parasiticides, anti-inflammatory brands and reproductive hormones, such as
Prostamate and Ovacyst.
About Bayer HealthCare
The Bayer Group is a global enterprise with core competencies in the fields of
health care, nutrition 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. Find more information
Find more information at www.animalhealth.bayerhealthcare.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.
SOURCE Bayer HealthCare LLC
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