Bayer and Boehringer Ingelheim Vetmedica, Inc. (BIVI) this week announced that they have signed an agreement under which, on completion of the transaction, Bayer would acquire BIVI's CYDECTIN bovine and ovine endectocide products in the U.S.
Once completed, the deal would include the transfer of CYDECTIN Pour-On, CYDECTIN Injectable and CYDECTIN Oral Drench. These endectocides with the active ingredient moxidectin offer persistent killing of internal parasites at multiple stages, including the most economically devastating parasite, Ostertagia ostertagi (brown stomach worm) and controls external parasites including lice, grubs and psoroptic mange mites on beef and dairy cattle.
"This transaction underlines our strategy to strengthen our portfolio with bolt-on acquisitions," said Dr. Dirk Ehle, Head of Bayer Animal Health. "The U.S. is our most important market, and the addition of the CYDECTIN products will help further strengthen our position in cattle parasiticides in the U.S."
"The CYDECTIN products are a perfect addition to our U.S. product portfolio," added Joyce Lee, Head of Commercial Operations for Animal Health, North America. "They are complementary to our existing parasiticides portfolio, propelling Bayer's strong position from the ectoparasitic space to now include endectocides."
"We are pleased that veterinarians and cattle producers will continue to have access to the CYDECTIN line, and we are confident these products will have strong support after the sale with Bayer," said Dr. Albrecht Kissel, president and CEO of BIVI.
The acquisition is anticipated to close by early 2017, subject to approval by the Federal Trade Commission and other contingencies.
The sale of BIVI's U.S. CYDECTIN products is a required step toward BI's acquisition of Merial as part of the larger swap transaction between Sanofi and BI.