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. Bayer will pay up to $145 million following the achievement of successful manufacturing and sales targets. The transaction includes a manufacturing site in St. Joseph, Missouri and nearly 300 employees.
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.
“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.”
