14 September 12 14:26–Bayer HealthCare LLC and Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) announced today that they have signed an agreement in which Bayer will acquire the US-based animal health business of Teva for up to $145 million.
The purchase price includes an upfront payment of $60 million plus a total of $85 million in milestone payments, which are linked to the successful and timely achievement of manufacturing and sales targets. Bayer said that the acquisition allows it to expand its companion and food animal product lines in the US by integrating the acquired assets into its animal health business.
Teva said that the transaction reflected its commitment to focus its efforts on human health and its core expertise of providing generic and branded medicines to patients around the world.
The transaction, encompassing a manufacturing site in St. Joseph, Missouri and around 300 employees, is expected to close in 2013, subject to antitrust clearance and satisfaction of other conditions…Read More>>