Bayer HealthCare to buy Teva Pharma' US animal health business for$145 mn

Bayer HealthCare LLC, a unit of Germany's Bayer AG, today agreed to buy Teva Pharmaceuticals' US animal health business in a $145 million deal.

Tel Aviv, Israel-based Teva will receive an upfront payment of $60 million and $85 million in milestone payments linked to manufacturing and sales targets.

The acquired portfolio will include a strong anti-infectives franchise and will enable Bayer to be present in all major therapeutic areas.

Teva's animal products features a full line of dermatology products sold under the DVM Pharmaceutical brand, including such products as Malaseb, HyLyt, Relief and others.

Teva's companion animal products include a broad line of nutraceuticals encompassing joint and gastro-intestinal products including the Synovi brands and food animal products include a wide range of anti-infectives in addition to parasiticides, anti-inflammatory brands and reproductive hormones.

Bayer, the world's fifth-largest animal health company, said that the acquisition will provide a range of anti-infective solutions for livestock and introducing reproductive hormones to Bayer's product offerings and strengthen its HealthCare companion animal franchise by expanding its portfolio with dermatological, pet wellness and nutraceutical products.