This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Bayer HealthCare Completes Acquisition Of Teva Pharmaceutical Industries' U.S. Animal Health Business

Stocks in this article: TEVA

LEVERKUSEN, Germany and 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 products.  

"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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,391.61 -287.09 -1.62%
S&P 500 2,029.78 -27.31 -1.33%
NASDAQ 4,688.9980 -82.7650 -1.73%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs