15.01.2008

Teva Pharmaceuticals

Teva Pharmaceutical Industries Ltd. said it is exploring strategic alternatives for its animal health business, including a possible divestiture. The Israel-based drug manufacturing company said the decision follows the strategic review it conducted in 2007.
Teva retained Bear Stearns & Co. as its financial adviser to assist in exploring alternatives for the animal health business, which develops proprietary and generic animal health products, mainly in the U.S. and Israel.

A spokeman for Bayer declines to comment on whether the company may be interested in buying Teva Pharmaceutical Industries Ltd's animal health business, but affirmed the compant is still interested 'in principle in acquisitions that make sense,' especially in the HealthCare segment. 

Another possible candidate to buy Teva's animal health business may be Boehringer Ingelheim, some analysts said.