October 20, 2008
 
Phibro Animal Health acquires Teva's Israeli veterinary business
 
Press Release
 
 

Teva Pharmaceutical Industries Ltd. announced that it has entered into a definitive agreement to sell its Israel-based veterinary business unit to Phibro Animal Health Corporation, for total consideration of approximately US$47 million.

 

The transaction is subject to certain conditions, including Israeli antitrust approvals and other closing conditions, and is expected to close in the first quarter of 2009.

 

Teva's veterinary business unit in Israel develops, manufactures and markets veterinary products for poultry and other large farm animals, both in Israel and internationally, particularly in Southeast Asia, Africa, Latin America and Eastern Europe. The business operates one manufacturing facility in Israel with approximately 90 employees. Phibro Animal Health Corporation operates in Israel through its subsidiary, Koffolk.

 

Teva Pharmaceutical Industries Ltd., headquartered in Israel, is a pharmaceutical company that develops, manufactures and markets generic and innovative human pharmaceuticals and active pharmaceutical ingredients, as well as animal health pharmaceutical products. Over 80 percent of Teva's sales are in North America and Europe.