SHAWNEE, Kan., Jan. 4, 2017 /PRNewswire/ -- Bayer today announced the completion of the purchase of Boehringer Ingelheim Vetmedica's CYDECTIN bovine and ovine endectocide products in the U.S. Currently the market leader in livestock insecticides, Bayer now enters into the farm animal endectocide space in the U.S. for the first time with the purchase of CYDECTIN.
"We are pleased to announce the addition of the CYDECTIN products into the Bayer Animal Health portfolio. This transaction underlines a significant milestone for Bayer as we commit to strengthen and invest in our Animal Health business through external opportunities," said Joyce J. Lee, President of Commercial Operations for Animal Health, North America.
The acquisition 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 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.
"The CYDECTIN product line will enable Bayer to offer veterinarians and cattle producers more robust insecticide solutions to meet their needs in a dynamic environment," adds Lee. "The integration success of these products into our customer offerings is a key priority for Bayer."
The CYDECTIN product line will be integrated into Bayer's customer offerings immediately. Financial terms of the transaction will not be disclosed.
Bayer: Science For A Better Life
Bayer is a global enterprise with core competencies in the Life Science fields of health care and agriculture. Its products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and to its social and ethical responsibilities as a corporate citizen. In fiscal 2015, the Group employed around 117,000 people and had sales of EUR 46.3 billion. Capital expenditures amounted to EUR 2.6 billion, R&D expenses to EUR 4.3 billion. These figures include those for the high-tech polymers business, which was floated on the stock market as an independent company named Covestro on Oct. 6, 2015. For more information, go to www.bayer.com.
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This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer's public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
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