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)
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