OR WAIT null SECS
Teva Pharmaceutical Industries and Sergeant’s Pet Care Products are the respective targets.
Bayer HealthCare has signed an agreement to purchase the U.S. animal health assets of pharmaceutical firm Teva Pharmaceutical Industries Ltd. First and foremost, Bayer says that the acquisition will strengthen its position in animal food, with anti-infective solutions and reproductive hormones for livestock.
But Bayer also expects the acquisition to broaden its growing companion animal business by adding dermatological, pet wellness, and nutraceutical products. Teva’s animal health nutraceuticals include joint health and gastrointestinal products, including the Synovi brand.
Meanwhile, Perrigo Co., which markets pharmaceuticals and nutraceuticals, announced its own agreement, to purchase the assets of Sergeant’s Pet Care Products Inc., a privately-hold manufacturer of OTC companion animal healthcare products with a broad range of flea and tick products.
Perrigo chairman and CEO Joseph C. Papa said that the acquisition “allows us to penetrate the pet care category by offering numerous flea and tick, health, and well-being and consumable products to pet owners at affordable prices.”