1 October 2009 Business
Industry news, October 2009
Bayer has signed a $145 million (£90 million) deal to buy the US part of the animal health business at Israeli generics giant Teva. Bayer will pay $60 million up front and pledge up to $85 million in future payments to be made if and when commercial milestones are passed. The deal covers the Teva manufacturing site in St Joseph, Missouri, and around 300 employees. Bayer says that the move will particularly strengthen its animal health portfolio in the anti-infective area and introduce reproductive hormones.
Animal health products accounted for €1.2 billion (£960 million) in sales at Bayer in 2011, representing a 5% increase compared with 2010. The biggest selling brand was Advantage, for flea, tic and worm control products, which accounted for €420 million.
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