Bayer Buys Teva Pharmaceutical to Expand Animal Health Franchise; Abbott Markets New Lung Cancer Test in EU - Health Minute for November 1, 2012

Nov 1, 2012 8:30 AM ET
Press Release

Bayer will buy Teva Pharmaceutical, a U.S.-animal health business for $145 million. The acquisition reinforces the food animal franchise of Bayer Healthcare by providing a range of anti-infective solutions for livestock. It will also expand the company’s portfolio with dermatological, pet wellness, and nutraceutical products.

Abbott is expanding product labeling for its ALK test, a companion diagnostic test to help identify patients for lung cancer. The new labeling will allow the test to be marketed in the European Union. The ALK test offers clinicians a standardized, clinically validated method to identify patients most likely to benefit from new therapies. Abbott’s test was the only diagnostic test used in multi-center global clinical trials in conjunction with a Pfizer drug to allow physicians to make treatment decisions.

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