Drugmakers Expand In Animal Health

Bayer HealthCare has agreed to acquire the U.S.-based animal health business of Teva Pharmaceutical Industries for $60 million plus up to $85 million in milestone payments. The transaction includes a companion and food animal drug facility in St. Joseph, Mo., and around 300 employees. Meanwhile, Perrigo will acquire Sergeant’s Pet Care Products for about $285 million in cash. Perrigo, a manufacturer of generic and store-brand over-the-counter drugs, says the purchase of the Omaha, Neb.-based firm is a first step in expanding its consumer health care business into pet care.