Germany's Bayer HealthCare gets approval for US acquisition

04 January 2013 07:56  [Source: ICIS news]

SINGAPORE (ICIS)--Bayer HealthCare said on Friday it has received regulatory approval from the US Federal Trade Commission for the acquisition of the US-based animal health business of Teva Pharmaceutical Industries.

Bayer HealthCare will pay up to $145m (€112m) for the business, which includes an upfront payment of $60m as well as a total of $85m in milestone payments, the company, a subgroup of German major Bayer, said in a statement.

The deal includes a manufacturing site in St Joseph, Missouri and around 300 employees, it added.

($1 = €0.77)

By: Nurluqman Suratman

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