January 8, 2013

Bayer HealthCare has received the necessary regulatory approval from the Federal Trade Commission to complete the acquisition of the US-based animal health business of Teva Pharmaceutical Industries Ltd.

As announced in September 2012, Bayer will pay up to US$145 million which includes an upfront payment of US$60 million plus a total of US$85 million in milestone payments, which are linked to the successful and timely achievement of manufacturing and sales targets. The transaction includes a manufacturing site in St. Joseph, Missouri and around 300 employees.

"This acquisition fits nicely with our strategic goals. It allows us to strengthen and broaden our range of animal care solutions in the US market," said Joerg Reinhardt, Chief Executive Officer, Bayer HealthCare.

The new portfolio will include a strong anti-infective 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-infective in addition to parasiticides, anti-inflammatory brands and reproductive hormones.

The Bayer Group is a global enterprise with core competencies in the fields of health care, agriculture and high-tech materials. Bayer HealthCare's aim is to discover, develop, manufacture and market products that will improve human and animal health worldwide.