17.10.2008

Teva - Abic

Israeli pharmaceutical firm Teva has announced it is to sell its veterinary business unit to Phibro Animal Health Corporation.
The company said it has entered into a definitive agreement with Phibo Animal Health Corporation, which has agreed to acquire the business in a deal worth approximately $47 million. Teva expects the transaction to be completed in the first quarter of next year.
The veterinary business, which markets veterinary products for farm animals both in Israel and internationally, currently has one manufacturing facility in Israel - Abic.