Bayer HealthCare completes Teva animal health acquisition
Bayer HealthCare LLC announced Jan. 3 that it has received the necessary regulatory approvals to complete its acquisition of the U.S.-based animal health business of Teva Pharmaceutical Industries Ltd.
The acquisition, which will cost Bayer Health Care up to $145 million, is expected to strengthen its companion animal and food animal product business, which includes the Shawnee-based North American headquarters for Bayer HealthCare’s animal health division. The transaction involves a Teva manufacturing site in St. Joseph, Mo., and nearly 300 Teva employees.
According to a Bayer HealthCare release, the acquisition, first announced in September, met all requirements contained in the initial agreement between Bayer and Teva and recently received the necessary regulatory approval from the Federal Trade Commission.
“The acquisition fits nicely with our strategic goals,” said Joerg Reinhardt, CEO of Bayer HealthCare. “It allows us to strengthen and broaden our range of animal care solutions in the U.S. market.”
Bayer HealthCare Animal Health’s food animal franchise will be strengthened with the addition of solutions to treat livestock infections and by introducing reproductive hormones to Bayer’s product offerings. Bayer’s growing companion animal business will benefit from 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 of Bayer HealthCare Animal Health, North America, which employs about 500 in Shawnee. “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.”