Bayer and Boehringer Ingelheim Vetmedica Inc. (BIVI) announced Dec. 7 that they have signed an agreement under which, upon completion of the transaction, Bayer will acquire BIVI's CYDECTIN bovine and ovine endectocide products in the U.S.
Once completed, the deal includes 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 economically devastating Ostertagia ostertagi (brown stomach worm) parasite, and control of external parasites such as lice, grubs and psoroptic mange mites on beef and dairy cattle, according to the announcement.
"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 Bayer 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."
The acquisition is anticipated to close by early 2017, subject to approval by the Federal Trade Commission and other contingencies.
"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 chief executive officer of BIVI.
The sale of BIVI's U.S. CYDECTIN products is a required step in Boehringer Ingelheim's acquisition of Merial as part of the larger swap transaction between Sanofi and Boehringer.
BIVI is the U.S. animal health division of Boehringer Ingelheim GmbH. BIVI develops, manufactures and markets novel and innovative solutions for the prevention and treatment of disease in the cattle, equine, pet and swine markets.