Aspirin Manufacturer Bayer to Buy Teva’s US Animal Health Business

German firm will pay $60 million initially, with a further $85 million tied to agreed manufacturing and sales targets.

German pharmaceuticals giant Bayer (IW 1000/88), best known for its Aspirin painkiller, agreed Friday to buy the U.S. animal health business of Israeli generic drug specialist Teva (IW 1000/243) for $145 million.

The German firm said the deal, which concerns a manufacturing site in St. Joseph, Mo., would "strengthen Bayer HealthCare's companion animal franchise."

Bayer will pay $60 million upfront, with a further $85 million tied to agreed manufacturing and sales targets.

The Missouri site employs a workforce of 300, and the transaction is set to be completed in 2013, pending antitrust clearance, Bayer added.

Copyright Agence France-Presse, 2012

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